MANHERT
ActiveSummary
The computed 12-month bankruptcy probability of MANHERT is 3.6% (moderate). The 2025 annual accounts show negative equity (€-7k) and a net result of €28k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 13417 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+13
Solvency17▲+17
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.64 against 0.3 in 2024; short-term debt: 108.4% and cash: 17.3% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-8.4%
Return on assets
34.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 13417 sector peers (2025).
NBB · sector comparisonPosition among 13417 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 9 filingsDeviation from the deadline
2025
31 d late
2024
44 d early
2023
41 d early
2022
48 d early
2021
17 d early
2020
18 d early
2019
45 d early
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-7k▲ 80.4%
2024 · €-34k
2018: €-23k
2019: €-17k▲ +25.4% vs 2018
2020: €-73k▼ -316% vs 2019
2021: €-79k▼ -8.6% vs 2020lowest in 8 years
2022: €-63k▲ +20.6% vs 2021
2023: €-49k▲ +21.4% vs 2022
2024: €-34k▲ +30.5% vs 2023
2025: €-7k▲ +80.4% vs 2024highest in 8 years
2018 → 2025
Total assets
€80k▲ 84.9%
2024 · €43k
2018: €41k
2019: €48k▲ +17.0% vs 2018
2020: €38k▼ -20.8% vs 2019
2021: €43k▲ +13.5% vs 2020
2022: €50k▲ +15.7% vs 2021
2023: €35k▼ -29.2% vs 2022lowest in 8 years
2024: €43k▲ +23.1% vs 2023
2025: €80k▲ +84.9% vs 2024highest in 8 years
2018 → 2025
Net result
€28k▲ 83.2%
2024 · €15k
2018: €-31k
2019: €6k▲ +119% vs 2018
2020: €-65k▼ -1184% vs 2019lowest in 8 years
2021: €-6k▲ +90.4% vs 2020
2022: €16k▲ +361% vs 2021
2023: €13k▼ -17.5% vs 2022
2024: €15k▲ +12.4% vs 2023
2025: €28k▲ +83.2% vs 2024highest in 8 years
2018 → 2025
Working capital
€-31k▲ 43.2%
2024 · €-54k
2018: €-37k
2019: €-37k▼ -0.8% vs 2018
2020: €-87k▼ -133% vs 2019
2021: €-104k▼ -19.1% vs 2020lowest in 8 years
2022: €-81k▲ +22.1% vs 2021
2023: €-66k▲ +18.6% vs 2022
2024: €-54k▲ +17.6% vs 2023
2025: €-31k▲ +43.2% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-79k-€-63k▲ 20.6%€-49k▲ 21.4%€-34k▲ 30.5%€-7k▲ 80.4%
2021: €-79klowest in 5 years
2022: €-63k▲ +20.6% vs 2021
2023: €-49k▲ +21.4% vs 2022
2024: €-34k▲ +30.5% vs 2023
2025: €-7k▲ +80.4% vs 2024highest in 5 years
Operating result€-4k-€21k€19k▼ 8.4%€20k▲ 6.1%€29k▲ 44.9%
2021: €-4klowest in 5 years
2022: €21k▲ +647% vs 2021
2023: €19k▼ -8.4% vs 2022
2024: €20k▲ +6.1% vs 2023
2025: €29k▲ +44.9% vs 2024highest in 5 years
Net result€-6k-€16k€13k▼ 17.5%€15k▲ 12.4%€28k▲ 83.2%
2021: €-6klowest in 5 years
2022: €16k▲ +361% vs 2021
2023: €13k▼ -17.5% vs 2022
2024: €15k▲ +12.4% vs 2023
2025: €28k▲ +83.2% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 45% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €80k
Fixed assets
€24k ▲ 20.4%
Current assets
€56k ▲ 141%
Key figures and ratios
EBITDA
€33k▲
2024 · €23k
Cash flow
€31k▲
2024 · €17k
Solvency
-8.4%▲
2024 · -79.1%
Current ratio
0.64▲
2024 · 0.30
Quick ratio
0.44▲
2024 · 0.17
Debt to equity
-12.94▼
2024 · -2.26
ROA
34.4%▼
2024 · 34.7%
Interest coverage
18.89▲
2024 · 4.45
Debt
€87k▲
2024 · €78k
Debt ≤ 1 year
€87k▲
2024 · €78k
Income taxes
€104▼
2024 · €159
Staff costs
€132k▼
2024 · €150k
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€43k€80k▲
Fixed assets21/28€20k€24k▲
Tangible fixed assets22/27€7k€11k▲
Plant, machinery and equipment23€5k€10k▲
Furniture and vehicles24€2k€582▼
Financial fixed assets28€13k€13k=
Current assets29/58€23k€56k▲
Stocks and contracts in progress3€10k€18k▲
Stocks30/36€10k€18k▲
Amounts receivable within one year40/41€2k€19k▲
Other amounts receivable41€2k€19k▲
Cash at bank and in hand54/58€6k€14k▲
Deferred charges and accrued income490/1€6k€5k▼
Equity and liabilities
Total equity and liabilities10/49€43k€80k▲
Equity10/15€-34k€-7k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-53k€-25k▲
Amounts payable17/49€78k€87k▲
Amounts payable within one year42/48€78k€87k▲
Current portion of amounts payable after more than one year42€4k€3k▼
Trade debts44€979€8k▲
Suppliers440/4€979€8k▲
Taxes, remuneration and social security45€30k€37k▲
Taxes450/3€5k€104▼
Remuneration and social security454/9€25k€37k▲
Other amounts payable47/48€42k€39k▼
Income statement
Code20242025
Non-recurring operating income76A-€4k
Remuneration, social security and pensions62€150k€132k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€4k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€15k
Other operating charges640/8€2k€2k▼
Gross operating margin9900€175k€182k▲
Operating profit (loss)9901€20k€29k▲
Financial charges65/66B€5k€2k▼
Recurring financial charges65€5k€2k▼
Profit (loss) for the period before taxes9903€15k€28k▲
Income taxes67/77€159€104▼
Profit (loss) for the period9904€15k€28k▲
Profit (loss) for the period to be appropriated9905€15k€28k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-53k€-25k▲
Profit (loss) brought forward from the previous period14P€-68k€-53k▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €33k | - | - | - | €4k | - |
| Remuneration, social security and pensions62 | €48k | €92k | €146k | €150k | €132k | ▼ 12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €7k | €2k | €2k | €4k | ▲ 51.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €15k | - |
| Other operating charges640/8 | €245 | €249 | €271 | €2k | €2k | ▼ 14.6% |
| Gross operating margin9900 | €50k | €119k | €167k | €175k | €182k | ▲ 3.6% |
| Operating profit (loss)9901 | €-4k | €21k | €19k | €20k | €29k | ▲ 44.9% |
| Financial income75/76B | €29 | €0 | €4 | - | - | - |
| Recurring financial income75 | €29 | €0 | €4 | - | - | - |
| Financial charges65/66B | €2k | €4k | €6k | €5k | €2k | ▼ 65.7% |
| Recurring financial charges65 | €2k | €4k | €6k | €5k | €2k | ▼ 65.7% |
| Profit (loss) for the period before taxes9903 | €-6k | €16k | €14k | €15k | €28k | ▲ 82.0% |
| Income taxes67/77 | €327 | €192 | €155 | €159 | €104 | ▼ 34.7% |
| Profit (loss) for the period9904 | €-6k | €16k | €13k | €15k | €28k | ▲ 83.2% |
| Profit (loss) for the period to be appropriated9905 | €-6k | €16k | €13k | €15k | €28k | ▲ 83.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €43k | €50k | €35k | €43k | €80k | ▲ 84.9% |
| Fixed assets21/28 | €25k | €19k | €17k | €20k | €24k | ▲ 20.4% |
| Tangible fixed assets22/27 | €13k | €7k | €5k | €7k | €11k | ▲ 60.3% |
| Plant, machinery and equipment23 | €4k | €3k | €2k | €5k | €10k | ▲ 104% |
| Furniture and vehicles24 | €6k | €4k | €3k | €2k | €582 | ▼ 66.6% |
| Leasing and similar rights25 | €3k | - | - | - | - | - |
| Financial fixed assets28 | €12k | €12k | €12k | €13k | €13k | = |
| Current assets29/58 | €18k | €31k | €18k | €23k | €56k | ▲ 141% |
| Stocks and contracts in progress3 | €6k | €17k | €9k | €10k | €18k | ▲ 84.3% |
| Stocks30/36 | €6k | €17k | €9k | €10k | €18k | ▲ 84.3% |
| Amounts receivable within one year40/41 | €7k | €6k | €4k | €2k | €19k | ▲ 1,016% |
| Trade receivables40 | €4k | €3k | €3k | - | - | - |
| Other amounts receivable41 | €2k | €4k | €2k | €2k | €19k | ▲ 1,016% |
| Cash at bank and in hand54/58 | €4k | €7k | €5k | €6k | €14k | ▲ 131% |
| Deferred charges and accrued income490/1 | €367 | €823 | - | €6k | €5k | ▼ 13.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €43k | €50k | €35k | €43k | €80k | ▲ 84.9% |
| Equity10/15 | €-79k | €-63k | €-49k | €-34k | €-7k | ▲ 80.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Profit (loss) carried forward14 | €-98k | €-81k | €-68k | €-53k | €-25k | ▲ 52.1% |
| Amounts payable17/49 | €122k | €112k | €85k | €78k | €87k | ▲ 11.9% |
| Amounts payable within one year42/48 | €122k | €112k | €85k | €78k | €87k | ▲ 11.9% |
| Current portion of amounts payable after more than one year42 | €4k | - | - | €4k | €3k | ▼ 36.2% |
| Trade debts44 | €50k | €32k | €12k | €979 | €8k | ▲ 755% |
| Suppliers440/4 | €50k | €32k | €12k | €979 | €8k | ▲ 755% |
| Taxes, remuneration and social security45 | €30k | €34k | €30k | €30k | €37k | ▲ 21.8% |
| Taxes450/3 | €12k | €12k | €6k | €5k | €104 | ▼ 97.9% |
| Remuneration and social security454/9 | €18k | €22k | €25k | €25k | €37k | ▲ 46.0% |
| Other amounts payable47/48 | €38k | €46k | €42k | €42k | €39k | ▼ 7.6% |
| Accrued charges and deferred income492/3 | - | €224 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-6k | €16k | €13k | €15k | €28k | ▲ 83.2% |
| + Depreciation and write-downs630 | €6k | €7k | €2k | €2k | €4k | ▲ 51.9% |
| Operating cash flow (approximation) | €-142 | €23k | €15k | €17k | €31k | ▲ 79.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-6k | €-8k | ▼ 33.7% |
| Change in cash | - | €3k | €-2k | €710 | €8k | ▲ 1,008% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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
Highest result since 2018net €28k ▲83.2%
Operating result €29k, net result €28k, both a record.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €16k
Net result €16k after 2 loss-making years.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-65k
Net result drops to €-65k, the lowest in the series; recovery starts the following year.
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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 2017
Ground area
184 m²
Building footprint
158 m²
Volume, LiDAR
3,111 m³
Parcel 21811M0954/00K000, Brussels · tallest building 22.5 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
Anspachlaan 81-83, 1000 Brussel
since 20172.262.356.239
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21811M0954/00K000 | Brussels | 184 m² | 1 · 158 m² | 22.5 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrussel2.262.356.239
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Of 20,495 companies in sector 56111 we hold annual accounts for 11,462. 6,384 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
56111Full-service restaurants
Scores and ratios are computed by Checked and are not a credit decision.