Equity
€220,141 ▼ 72.6%
MANOH paid out €840,410 in dividends. That is 328% of the 2025 profit.
MANOH
Lifetime
3 annual accounts with figures on one time axispeak €4.7m (2024)
€4.2m▼ 10.3%
peak €617,150 (2024)
€255,965▼ 58.5%
peak €804,585 (2024)
€220,141▼ 72.6%
€1.4m▲ 24.8%
peak 87.2 FTE (2025)
87.2 FTE
Board1 name since 2022
1 directorBEN HAMZA Nihal
Documentsfilings and deeds
30-10-202691 days late
2025abbreviated format
Result from €617,150 to €255,965Address strikeout annulled 08-08Registered office moved from Groot Bijgaarden to Merchtem 18-02Dividend €840,410Equity from €804,585 to €220,141Debts from €1.1m to €1.4m
Key points
from the 2025 annual accountsDebts
€1.4m 86% of the balance sheet
Financial debts 11%Suppliers 18%Taxes and wages 67%Other 3%
Of this, €1.2m falls due within a year.
Investments
€138,406 4.5 × depreciation
Green is investment, beige is depreciation.
Staff
110 employees on 31-12-2025
In 2025, 356 people joined and 371 left.
Filings
3 annual accounts 91 days
Latest accounts filed late: after the legal deadline.
Position in the sector
€255,965
Higher net result than 90% of companies in land transport. Sector median €22,414 · 2,412 companies.
Net result -59%: other schema
Checked score
50
Fair
Financially stronger than 53% of medium-sized companies in land transport (NACE 49)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.5% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 275 companies (NACE 49, medium-sized).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.0%
01-2025: 2.0%● unchanged vs 12-2024
02-2025: 2.0%● unchanged vs 01-2025
03-2025: 5.9%▲ +3.9 percentage points vs 02-2025
04-2025: 6.4%▲ +0.5 percentage points vs 03-2025
05-2025: 6.4%● unchanged vs 04-2025
06-2025: 6.5%▲ +0.1 percentage points vs 05-2025
07-2025: 6.9%▲ +0.4 percentage points vs 06-2025
08-2025: 8.3%▲ +1.4 percentage points vs 07-2025highest value
09-2025: 4.0%▼ -4.3 percentage points vs 08-2025
10-2025: 1.2%▼ -2.8 percentage points vs 09-2025
11-2025: 1.2%● unchanged vs 10-2025
12-2025: 1.2%● unchanged vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025lowest value
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.5%▲ +0.3 percentage points vs 04-2026
06-2026: 1.6%▲ +0.1 percentage points vs 05-2026
07-2026: 1.7%▲ +0.1 percentage points vs 06-2026
08-2026: 2.5%▲ +0.8 percentage points vs 07-2026
09-2026: 2.5%● unchanged vs 08-2026
10-2026: 4.4%▲ +1.9 percentage points vs 09-2026
11-2026: 3.5%▼ -0.9 percentage points vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 91 days late; 3 of the last 3 accounts late
Founded in 2022
Sector: Land transport and transport via pipelines (NACE 49)
lowers risk
Liquidity: current ratio 1.04, cash €1.0m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, medium-sized). It does better than 22% of them on solvency, 89% on liquidity, 95% on profitability and 5% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 684 companies had the same profile as MANOH has now. Each dot stands for 2 companies, two years later.
97.4%
were still trading
2.2%
stopped another way
0.3%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MANOH itself is higher: 3.5% within 12 months. It rests on far more data about MANOH than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 684 companies, not a prediction for MANOH. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €11,000 on 30-day terms, only on tighter conditions: the latest accounts were filed more than 90 days after the deadline
Liquidity is tight, with a current ratio of 1.04 (1.71 in 2024), below the usual 1.5. Short-term debt is 76.3% and cash 62.9% of total assets. 86.2% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 2418 sector peers (2025).
NBB · sector comparisonPosition among 2418 sector peers
Solvency
better than 20%
← weakest
strongest →
raises risk · 2025 accounts filed 91 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-10-2026, 91 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 3 filingsDeviation from the deadline
2025
91 days late
2024
31 days late
2023
42 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 55 days after the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
raises risk · Administrative warnings in the KBO publications
The FPS Economy published 1 notice about the company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address strikeout annulled
Searched, nothing found (1)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 12 September (3 of the last 3 accounts filed within 48 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
New establishment in Bruges
Kleine Pathoekeweg 40
New establishment in Herstal
Parc Ind. des Hauts Sarts, 1e av 106
New establishment in Grâce-Hollogne
Rue de Bierset 55
Address strikeout annulled
KBO administration
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MANOH Merchtem | - | - | 13.8% | 87.2 |
| DEP SERVICES Courcelles | - | - | 10.2% | 69.6 |
| DEUFOL WAREMME OPERATIONS Waremme | €7.6m | 4.4% | 61.4% | 65.8 |
| COGEPART BELGIQUE Wavre | €10.7m | 0.9% | 0.1% | 78.1 |
| Logicall Installation Services Belgium Mechelen | - | - | -2.6% | 66.7 |
| Wim Trans Sint-Katelijne-Waver | - | - | 37.6% | 46.3 |
| DVD Transport Tongeren-Borgloon | - | - | 40.7% | 42.8 |
These companies have the same main activity as MANOH: freight transport by road (NACE 49410). They are comparable in size and age: total assets between €1.5m and €4m, founded between 2016 and 2021.
Official details
Source: KBO- Status
- Active since 12-08-2022Normal situation
- Activity
- Freight transport by roadNACE 49410and 2 others
- Joint committee
- 140.03Road transport and logistics for third parties · annual accounts 2025
- Establishment units
- 2.343.876.6231702 Dilbeek, since 02-04-2023
- 2.395.970.3734460 Grâce-Hollogne, since 15-06-2026and 2 others
- Financial year end
- 31 December
- Peppol
- Reachable since 04-08-2025
Annual accounts 2025
- ≈ €8.0mestimated
- €1.6m▼ 16.4%
- Employeeson 31-12-2025
- 110▼ 12.0%
- Filing
- Filed on 30-10-2026
Insights on MANOH
MANOH files the abbreviated format. That format states no turnover. The gross margin rose from €1.6m in 2023 to €4.2m in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MANOH
- What is the company number of MANOH?
- The company number of MANOH is 0789.624.045. The VAT number is the same number with BE in front: BE 0789.624.045.
- Where is MANOH based?
- The registered office is at Koeweidestraat 50, 1785 Merchtem.Company details
- What does MANOH do?
- According to the KBO register, the main activity is freight transport by road (NACE 49410).
- What is the legal form of MANOH?
- MANOH is a private limited company (BV).
- When was MANOH founded?
- MANOH was founded on 12-08-2022.
- Is MANOH still active?
- Yes, MANOH is an active enterprise in the KBO register.
- How many employees does MANOH have?
- MANOH had an average of 87.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does MANOH fall under?
- In its 2025 annual accounts, MANOH states joint committee 140.03 (Road transport and logistics for third parties).
- What is the turnover of MANOH?
- The turnover in financial year 2025 is ≈ €8.0m. This figure is estimated from the gross margin of €4.2m and 31 comparable companies (NACE 49410). It probably lies between €6.9m and €9.3m.
- Is MANOH profitable?
- In financial year 2025, MANOH made a profit of €255,965.
- Where can I find the annual accounts of MANOH?
- MANOH filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MANOH due?
- MANOH must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence See whether the workforce is growing and whether people stay.Employer check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
See how customers, suppliers and banks see your own company and what to improve first.