MANILO PROJECTS
ActiveSummary
The computed 12-month bankruptcy probability of MANILO PROJECTS is 1.8% (moderate). The 2025 annual accounts show equity of €77,310 and a net result of €11,738. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 70% of 4544 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-1
Solvency85▲+36
Growth52=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 1.93 against 1.32 in 2024; short-term debt: 22.6% and cash: 1.4% of total assets), and 40.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← 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
59.8%
Return on assets
9.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 6 filingsDeviation from the deadline
2025
27 d late
2024
28 d late
2023
40 d early
2022
126 d early
2021
54 d early
2020
52 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 36 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€77,310▲ 17.9%
2024 · €65,572
Total assets
€129,340▼ 53.0%
2024 · €275,049
Net result
€11,738▲ 667%
2024 · €1,531
Working capital
€27,121▲ 47.9%
2024 · €18,332
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€20,708▼ 35.2%€20,814▲ 0.5%€2,469▼ 88.1%€4,595▲ 86.1%€23,695▲ 416%
Net result€17,487▼ 24.2%€14,344▼ 18.0%€642▼ 95.5%€1,531▲ 138%€11,738▲ 667%
Equity€49,055▲ 55.4%€63,398▲ 29.2%€64,041▲ 1.0%€65,572▲ 2.4%€77,310▲ 17.9%
Total assets€109,282▲ 45.1%€100,260▼ 8.3%€146,323▲ 45.9%€275,049▲ 88.0%€129,340▼ 53.0%
Debt€60,227▲ 37.6%€36,862▼ 38.8%€82,282▲ 123%€209,477▲ 155%€52,031▼ 75.2%
Working capital-€22,824-€991▲ 95.7%€45,138€18,332▼ 59.4%€27,121▲ 47.9%
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 416% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €129,340
Fixed assets
€72,954 ▼ 63.3%
Current assets
€56,387 ▼ 26.1%
Equity and liabilities €129,340
Equity
€77,310 ▲ 17.9%
Debt
€52,031 ▼ 75.2%
Debt's share of the balance-sheet total falls from 76.2% to 40.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€42,993▲
2024 · €25,169
Cash flow
€31,036▲
2024 · €22,106
Current ratio
1.93▲
2024 · 1.32
Debt to equity
0.67▼
2024 · 3.19
ROE
15.2%▲
2024 · 2.3%
ROA
9.1%▲
2024 · 0.6%
Interest coverage
4.57▼
2024 · 7.47
Debt ≤ 1 year
€29,265▼
2024 · €58,020
Debt > 1 year
€22,765▼
2024 · €151,457
Income taxes
€4,033▲
2024 · €203
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €29,159 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,181 | €22,405 | €18,853 | €20,575 | €19,298 | ▼ 6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €5,454 | - | - | €16,466 | - |
| Other operating charges640/8 | €1,050 | €1,845 | €1,580 | €2,366 | €2,534 | ▲ 7.1% |
| Non-recurring operating charges66A | - | - | - | - | €6,649 | - |
| Gross operating margin9900 | €40,940 | €50,518 | €22,902 | €27,535 | €68,642 | ▲ 149% |
| Operating profit (loss)9901 | €20,708 | €20,814 | €2,469 | €4,595 | €23,695 | ▲ 416% |
| Financial income75/76B | €385 | €285 | €79 | €508 | €1,494 | ▲ 194% |
| Recurring financial income75 | €385 | €285 | €79 | €508 | €1,494 | ▲ 194% |
| Financial charges65/66B | €498 | €672 | €603 | €3,369 | €9,417 | ▲ 180% |
| Recurring financial charges65 | €498 | €672 | €603 | €3,369 | €9,417 | ▲ 180% |
| Profit (loss) for the period before taxes9903 | €20,595 | €20,428 | €1,946 | €1,734 | €15,771 | ▲ 809% |
| Income taxes67/77 | €3,108 | €6,084 | €1,303 | €203 | €4,033 | ▲ 1,885% |
| Profit (loss) for the period9904 | €17,487 | €14,344 | €642 | €1,531 | €11,738 | ▲ 667% |
| Profit (loss) for the period to be appropriated9905 | €17,487 | €14,344 | €642 | €1,531 | €11,738 | ▲ 667% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €109,282 | €100,260 | €146,323 | €275,049 | €129,340 | ▼ 53.0% |
| Fixed assets21/28 | €85,458 | €71,230 | €63,153 | €198,696 | €72,954 | ▼ 63.3% |
| Intangible fixed assets21 | €1,722 | €967 | €212 | - | - | - |
| Tangible fixed assets22/27 | €83,736 | €70,263 | €62,941 | €198,696 | €72,954 | ▼ 63.3% |
| Land and buildings22 | €40,606 | €43,517 | €38,102 | €51,734 | €44,241 | ▼ 14.5% |
| Plant, machinery and equipment23 | €29,534 | €20,083 | €19,831 | €11,668 | €7,114 | ▼ 39.0% |
| Furniture and vehicles24 | €5,625 | €3,688 | €3,117 | €2,793 | €21,434 | ▲ 667% |
| Leasing and similar rights25 | €3,915 | - | - | €131,693 | - | - |
| Other tangible fixed assets26 | €4,057 | €2,974 | €1,891 | €809 | €164 | ▼ 79.7% |
| Current assets29/58 | €23,824 | €29,030 | €83,169 | €76,353 | €56,387 | ▼ 26.1% |
| Stocks and contracts in progress3 | - | - | €3,308 | €6,518 | - | - |
| Stocks30/36 | - | - | €3,308 | €6,518 | - | - |
| Amounts receivable within one year40/41 | €7,008 | €19,291 | €26,879 | €34,021 | €53,068 | ▲ 56.0% |
| Trade receivables40 | €7,008 | €17,424 | €23,189 | €22,630 | €25,086 | ▲ 10.9% |
| Other amounts receivable41 | - | €1,866 | €3,690 | €11,391 | €27,982 | ▲ 146% |
| Cash at bank and in hand54/58 | €14,671 | €5,640 | €48,608 | €28,223 | €1,831 | ▼ 93.5% |
| Deferred charges and accrued income490/1 | €2,145 | €4,099 | €4,375 | €7,590 | €1,488 | ▼ 80.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €109,282 | €100,260 | €146,323 | €275,049 | €129,340 | ▼ 53.0% |
| Equity10/15 | €49,055 | €63,398 | €64,041 | €65,572 | €77,310 | ▲ 17.9% |
| Contributions10/11 | €8,500 | €8,500 | €8,500 | €8,500 | €8,500 | = |
| Reserves13 | €40,555 | €54,898 | €55,541 | €57,072 | €68,810 | ▲ 20.6% |
| Distributable reserves133 | €40,555 | €54,898 | €55,541 | €57,072 | €68,810 | ▲ 20.6% |
| Amounts payable17/49 | €60,227 | €36,862 | €82,282 | €209,477 | €52,031 | ▼ 75.2% |
| Amounts payable after more than one year17 | €13,579 | €6,841 | €44,250 | €151,457 | €22,765 | ▼ 85.0% |
| Financial debts170/4 | €13,579 | €6,841 | €44,250 | €151,457 | €22,765 | ▼ 85.0% |
| Amounts payable within one year42/48 | €46,648 | €30,021 | €38,032 | €58,020 | €29,265 | ▼ 49.6% |
| Current portion of amounts payable after more than one year42 | €6,639 | €6,739 | €16,784 | €25,065 | €11,018 | ▼ 56.0% |
| Trade debts44 | €26,939 | €8,301 | €18,973 | €32,231 | €13,489 | ▼ 58.1% |
| Suppliers440/4 | €26,939 | €8,301 | €18,973 | €32,231 | €13,489 | ▼ 58.1% |
| Advances received on contracts in progress46 | - | €175 | - | - | - | - |
| Taxes, remuneration and social security45 | €12,828 | €10,330 | €2,274 | €725 | €4,758 | ▲ 556% |
| Taxes450/3 | €12,828 | €10,330 | €2,274 | €725 | €4,758 | ▲ 556% |
| Other amounts payable47/48 | €243 | €4,476 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,487 | €14,344 | €642 | €1,531 | €11,738 | ▲ 667% |
| + Depreciation and write-downs630 | €19,181 | €22,405 | €18,853 | €20,575 | €19,298 | ▼ 6.2% |
| Operating cash flow (approximation) | €36,668 | €36,749 | €19,495 | €22,106 | €31,036 | ▲ 40.4% |
| Investment in fixed assets (approximation) | - | -€8,177 | -€10,776 | -€156,117 | €106,445 | ▲ 168% |
| Change in cash | - | -€9,031 | €42,967 | -€20,385 | -€26,392 | ▼ 29.5% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €642 ▼95.5%
Net result drops to €642, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 2.19
Current ratio from 0.97 to 2.19.
27-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Malle · 1 establishment unit since 2019
Ground area
6,004 m²
Building footprint
284 m²
Volume, LiDAR
1,462 m³
Parcel 11032A0331/00G000, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MANILO PROJECTS
since 20192.296.142.725
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11032A0331/00G000 | Flanders | 6,004 m² | 1 · 284 m² | 9.7 m · 2 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.
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Of 21,222 companies in sector 81300 we hold annual accounts for 4,366. 3,643 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
Founded30-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
81300Landscape service activities
33120Repair and maintenance of machinery
Scores and ratios are computed by Checked and are not a credit decision.