Manger Nielsen
ActiveSummary
Manger Nielsen has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144k and a net result of €63k. Equity is growing by ~21.1% per year across the filed fiscal years. Its solvency ranks better than 42% of 9460 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
79
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability94▼-6
Solvency71▲+18
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 1.85 against 1.36 in 2024; short-term debt: 47.3% and cash: 14.1% of total assets), but 54.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Sector 71
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
45.7%
Return on assets
19.9%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
61 d late
2023
82 d late
2022
61 d late
2021
84 d late
2020
30 d late
2019
40 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€63k▼ 12.6%
2024 · €72k
2018: €2k
2019: €3k
2020: €3k
2021: €17k
2022: €-70k
2023: €22k
2024: €72k
2018 → 2025
Working capital
€126k▲ 94.2%
2024 · €65k
2018: €31k
2019: €35k
2020: €37k
2021: €52k
2022: €-19k
2023: €-15k
2024: €65k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€58k-€-12k€9k€81k▲ 768%€144k▲ 77.3%
Operating result€22k-€-69k€15k€95k▲ 543%€95k▼ 0.3%
Net result€17k-€-70k€22k€72k▲ 232%€63k▼ 12.6%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 0% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €315k
Fixed assets
€39k ▼ 14.7%
Current assets
€275k ▲ 13.0%
Equity and liabilities €315k
Equity
€144k ▲ 77.3%
Debt
€171k ▼ 18.1%
Debt's share of the balance-sheet total falls from 72.0% to 54.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€108k▲
2024 · €106k
Cash flow
€76k▼
2024 · €83k
Current ratio
1.85▲
2024 · 1.36
Debt to equity
1.19▼
2024 · 2.58
ROE
43.6%▼
2024 · 88.5%
ROA
19.9%▼
2024 · 24.7%
Interest coverage
26.74▼
2024 · 44.41
Debt ≤ 1 year
€149k▼
2024 · €179k
Debt > 1 year
€22k▼
2024 · €30k
Income taxes
€28k▲
2024 · €21k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€290k€315k▲
Fixed assets21/28€46k€39k▼
Tangible fixed assets22/27€43k€36k▼
Furniture and vehicles24€15k€15k▲
Other tangible fixed assets26€27k€20k▼
Financial fixed assets28€4k€4k=
Current assets29/58€244k€275k▲
Amounts receivable within one year40/41€203k€213k▲
Trade receivables40€201k€210k▲
Other amounts receivable41€3k€3k▲
Cash at bank and in hand54/58€25k€45k▲
Deferred charges and accrued income490/1€16k€18k▲
Equity and liabilities
Total equity and liabilities10/49€290k€315k▲
Equity10/15€81k€144k▲
Contributions10/11€6k€6k=
Reserves13€75k€138k▲
Distributable reserves133€75k€138k▲
Amounts payable17/49€209k€171k▼
Amounts payable after more than one year17€30k€22k▼
Financial debts170/4€30k€22k▼
Amounts payable within one year42/48€179k€149k▼
Current portion of amounts payable after more than one year42€8k€8k▲
Trade debts44€81k€83k▲
Suppliers440/4€81k€83k▲
Taxes, remuneration and social security45€39k€53k▲
Taxes450/3€39k€53k▲
Other amounts payable47/48€51k€4k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€13k▲
Other operating charges640/8€282€293▲
Gross operating margin9900€106k€108k▲
Operating profit (loss)9901€95k€95k▼
Financial income75/76B€46€27▼
Recurring financial income75€46€27▼
Financial charges65/66B€2k€4k▲
Recurring financial charges65€2k€4k▲
Profit (loss) for the period before taxes9903€93k€91k▼
Income taxes67/77€21k€28k▲
Profit (loss) for the period9904€72k€63k▼
Profit (loss) for the period to be appropriated9905€72k€63k▼
Appropriation of the result
Profit (loss) to be appropriated9906€73k€63k▼
Profit (loss) brought forward from the previous period14P€1k-
Transfer to equity691/2€73k€63k▼
To other reserves6921€73k€63k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Equity above €100kEq €144k ▲77.3%
3 profitable years in a row build equity to €144k.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Highest result since 2018net €72k ▲232%
Operating result €95k, net result €72k, both a record.
21-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 82 days late
2023
31-12
Financial
Back to profitnet €22k
Net result €22k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Weakest financial yearnet €-70k ▼508%
Net result drops to €-70k, the lowest in the series; recovery starts the following year.
23-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 84 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 40 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brussel · 1 establishment unit since 2012
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Louizalaan 2511050 BrusselGround area
1,574 m²
Building footprint
1,579 m²
Volume, LiDAR
46,471 m³
Parcel 21807G0135/00T003, Brussels · tallest building 46.6 m, ±13 floors. Linked by address, not a title deed.
1 establishment unit
Louizalaan 251, 1050 Elsene
since 20122.276.373.630
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0135/00T003 | Brussels | 1,574 m² | 1 · 1,579 m² | 46.6 m · 13 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Architectenbureau Frederic Goethals
BE 0826.966.174
Bertem · Eq €143,696
Balliere Architecture Concepts
BE 0783.834.630
Kruisem · Eq €143,652
ARCHITECT JAN VAN MARSENILLE
BE 0873.108.975
Tienen · Eq €143,941
BREGT VANDERPER
BE 0802.636.891
Gent · Eq €144,007
AGORA
BE 0446.697.470
Vorst · Eq €144,233
Of 18,255 companies in sector 71111 we hold annual accounts for 6,321. 5,355 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-01-2012
Fiscal year end31-12
Abbreviation FR
MNA
Activities, NACEBEL 2025
71111Activities of building architects
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.