Manticore
ActiveSummary
The computed 12-month bankruptcy probability of Manticore is 2.3% (moderate). The 2025 annual accounts show equity of €23k and a net result of €76k. Equity is growing by ~18.3% per year across the filed fiscal years. The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+7
Solvency30=
Growth78=
Track record94
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.33 against 0.38 in 2024; short-term debt: 25.7% and cash: 4.1% of total assets), and 94.5% of the assets are financed with debt.
Credit check for your own amount and term
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
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
5.5%
Return on assets
18.1%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-04-2026, 92 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
92 d early
2024
55 d late
2023
29 d late
2022
3 d early
2021
61 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€23k▲ 6.4%
2024 · €22k
2021: €8klowest in 5 years
2022: €34k▲ +344% vs 2021
2023: €57k▲ +67.3% vs 2022highest in 5 years
2024: €22k▼ -62.0% vs 2023
2025: €23k▲ +6.4% vs 2024
2021 → 2025
Total assets
€422k▲ 2.8%
2024 · €411k
2021: €445khighest in 5 years
2022: €436k▼ -2.0% vs 2021
2023: €418k▼ -4.1% vs 2022
2024: €411k▼ -1.8% vs 2023lowest in 5 years
2025: €422k▲ +2.8% vs 2024
2021 → 2025
Net result
€76k▲ 56.4%
2024 · €49k
2021: €7klowest in 5 years
2022: €27k▲ +295% vs 2021
2023: €23k▼ -13.2% vs 2022
2024: €49k▲ +111% vs 2023
2025: €76k▲ +56.4% vs 2024highest in 5 years
2021 → 2025
Working capital
€-73k▼ 31.6%
2024 · €-55k
2021: €-39k
2022: €-24k▲ +38.5% vs 2021
2023: €-18k▲ +26.2% vs 2022highest in 5 years
2024: €-55k▼ -210% vs 2023
2025: €-73k▼ -31.6% vs 2024lowest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€8k-€34k▲ 344%€57k▲ 67.3%€22k▼ 62.0%€23k▲ 6.4%
2021: €8klowest in 5 years
2022: €34k▲ +344% vs 2021
2023: €57k▲ +67.3% vs 2022highest in 5 years
2024: €22k▼ -62.0% vs 2023
2025: €23k▲ +6.4% vs 2024
Operating result€11k-€43k▲ 304%€38k▼ 10.2%€69k▲ 81.7%€104k▲ 50.1%
2021: €11klowest in 5 years
2022: €43k▲ +304% vs 2021
2023: €38k▼ -10.2% vs 2022
2024: €69k▲ +81.7% vs 2023
2025: €104k▲ +50.1% vs 2024highest in 5 years
Net result€7k-€27k▲ 295%€23k▼ 13.2%€49k▲ 111%€76k▲ 56.4%
2021: €7klowest in 5 years
2022: €27k▲ +295% vs 2021
2023: €23k▼ -13.2% vs 2022
2024: €49k▲ +111% vs 2023
2025: €76k▲ +56.4% 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 50% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €422k
Fixed assets
€387k ▲ 2.6%
Current assets
€36k ▲ 5.3%
Equity and liabilities €422k
Equity
€23k ▲ 6.4%
Debt
€399k ▲ 2.6%
Debt's share of the balance-sheet total falls from 94.7% to 94.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€114k▲
2024 · €86k
Cash flow
€86k▲
2024 · €65k
Current ratio
0.33▼
2024 · 0.38
Debt to equity
17.20▼
2024 · 17.83
ROE
329.1%▲
2024 · 223.8%
ROA
18.1%▲
2024 · 11.9%
Interest coverage
12.99▲
2024 · 10.54
Debt ≤ 1 year
€109k▲
2024 · €89k
Debt > 1 year
€291k▼
2024 · €300k
Income taxes
€20k▲
2024 · €13k
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 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€411k€422k▲
Fixed assets21/28€377k€387k▲
Tangible fixed assets22/27€377k€387k▲
Land and buildings22€373k€377k▲
Plant, machinery and equipment23-€6k
Furniture and vehicles24€4k€4k▼
Current assets29/58€34k€36k▲
Amounts receivable within one year40/41€5k€6k▲
Trade receivables40-€974
Other amounts receivable41€5k€5k▼
Current investments50/53€10k€10k=
Cash at bank and in hand54/58€17k€17k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€411k€422k▲
Equity10/15€22k€23k▲
Contributions10/11€1k€1k=
Reserves13€20k€22k▲
Distributable reserves133€20k€22k▲
Profit (loss) carried forward14€821€213▼
Amounts payable17/49€389k€399k▲
Amounts payable after more than one year17€300k€291k▼
Financial debts170/4€300k€291k▼
Amounts payable within one year42/48€89k€109k▲
Current portion of amounts payable after more than one year42€16k€22k▲
Financial debts43€6k€3k▼
Credit institutions430/8€6k€3k▼
Trade debts44€8k€4k▼
Suppliers440/4€8k€4k▼
Taxes, remuneration and social security45€7k€5k▼
Taxes450/3€7k€5k▼
Other amounts payable47/48€53k€75k▲
Income statement
Code20242025
Non-recurring operating income76A-€20k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€10k▼
Other operating charges640/8€4k€2k▼
Gross operating margin9900€89k€115k▲
Operating profit (loss)9901€69k€104k▲
Financial income75/76B€253€572▲
Recurring financial income75€253€572▲
Financial charges65/66B€8k€9k▲
Recurring financial charges65€8k€9k▲
Profit (loss) for the period before taxes9903€62k€96k▲
Income taxes67/77€13k€20k▲
Profit (loss) for the period9904€49k€76k▲
Profit (loss) for the period to be appropriated9905€49k€76k▲
Appropriation of the result
Profit (loss) to be appropriated9906€49k€77k▲
Profit (loss) brought forward from the previous period14P€481€821▲
Transfer from equity791/2€38k-
Transfer to equity691/2€2k€2k▲
To other reserves6921€2k€2k▲
Profit to be distributed694/7€85k€75k▼
Return on contributions (dividend)694€85k€75k▼
The notes to these accounts (12 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 | - | - | - | - | €20k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24k | €17k | €18k | €16k | €10k | ▼ 39.9% |
| Other operating charges640/8 | €6k | €4k | €4k | €4k | €2k | ▼ 58.7% |
| Non-recurring operating charges66A | €28k | - | - | - | - | - |
| Gross operating margin9900 | €69k | €63k | €60k | €89k | €115k | ▲ 29.3% |
| Operating profit (loss)9901 | €11k | €43k | €38k | €69k | €104k | ▲ 50.1% |
| Financial income75/76B | €9 | €0 | €8 | €253 | €572 | ▲ 126% |
| Recurring financial income75 | €9 | €0 | €8 | €253 | €572 | ▲ 126% |
| Financial charges65/66B | €1k | €9k | €8k | €8k | €9k | ▲ 8.0% |
| Recurring financial charges65 | €1k | €9k | €8k | €8k | €9k | ▲ 8.0% |
| Profit (loss) for the period before taxes9903 | €9k | €34k | €30k | €62k | €96k | ▲ 56.0% |
| Income taxes67/77 | €2k | €7k | €7k | €13k | €20k | ▲ 54.4% |
| Profit (loss) for the period9904 | €7k | €27k | €23k | €49k | €76k | ▲ 56.4% |
| Profit (loss) for the period to be appropriated9905 | €7k | €27k | €23k | €49k | €76k | ▲ 56.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €445k | €436k | €418k | €411k | €422k | ▲ 2.8% |
| Fixed assets21/28 | €414k | €400k | €391k | €377k | €387k | ▲ 2.6% |
| Tangible fixed assets22/27 | €414k | €400k | €391k | €377k | €387k | ▲ 2.6% |
| Land and buildings22 | €380k | €377k | €377k | €373k | €377k | ▲ 1.3% |
| Plant, machinery and equipment23 | - | - | - | - | €6k | - |
| Furniture and vehicles24 | €2k | €2k | €4k | €4k | €4k | ▼ 18.9% |
| Leasing and similar rights25 | €33k | €21k | €10k | - | - | - |
| Current assets29/58 | €31k | €37k | €27k | €34k | €36k | ▲ 5.3% |
| Amounts receivable within one year40/41 | €28k | €25k | €4k | €5k | €6k | ▲ 11.0% |
| Trade receivables40 | €28k | €25k | - | - | €974 | - |
| Other amounts receivable41 | - | - | €4k | €5k | €5k | ▼ 8.5% |
| Current investments50/53 | - | €10k | €10k | €10k | €10k | = |
| Cash at bank and in hand54/58 | €1k | €748 | €12k | €17k | €17k | ▲ 1.7% |
| Deferred charges and accrued income490/1 | €1k | €2k | €2k | €2k | €3k | ▲ 49.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €445k | €436k | €418k | €411k | €422k | ▲ 2.8% |
| Equity10/15 | €8k | €34k | €57k | €22k | €23k | ▲ 6.4% |
| Contributions10/11 | €1k | €1k | €1k | €1k | €1k | = |
| Reserves13 | €6k | €33k | €56k | €20k | €22k | ▲ 10.0% |
| Distributable reserves133 | €6k | €33k | €56k | €20k | €22k | ▲ 10.0% |
| Profit (loss) carried forward14 | €732 | €358 | €481 | €821 | €213 | ▼ 74.1% |
| Amounts payable17/49 | €437k | €402k | €361k | €389k | €399k | ▲ 2.6% |
| Amounts payable after more than one year17 | €367k | €341k | €315k | €300k | €291k | ▼ 3.1% |
| Financial debts170/4 | €367k | €341k | €315k | €300k | €291k | ▼ 3.1% |
| Amounts payable within one year42/48 | €70k | €61k | €45k | €89k | €109k | ▲ 21.6% |
| Current portion of amounts payable after more than one year42 | €26k | €26k | €26k | €16k | €22k | ▲ 40.6% |
| Financial debts43 | - | - | - | €6k | €3k | ▼ 43.1% |
| Credit institutions430/8 | - | - | - | €6k | €3k | ▼ 43.1% |
| Trade debts44 | €8k | €3k | €4k | €8k | €4k | ▼ 53.0% |
| Suppliers440/4 | €8k | €3k | €4k | €8k | €4k | ▼ 53.0% |
| Taxes, remuneration and social security45 | €5k | €13k | €15k | €7k | €5k | ▼ 30.8% |
| Taxes450/3 | €3k | €11k | €15k | €7k | €5k | ▼ 30.8% |
| Remuneration and social security454/9 | €2k | €2k | - | - | - | - |
| Other amounts payable47/48 | €31k | €19k | - | €53k | €75k | ▲ 40.8% |
| Accrued charges and deferred income492/3 | - | - | €208 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €27k | €23k | €49k | €76k | ▲ 56.4% |
| + Depreciation and write-downs630 | €24k | €17k | €18k | €16k | €10k | ▼ 39.9% |
| Operating cash flow (approximation) | €30k | €43k | €41k | €65k | €86k | ▲ 32.4% |
| Investment in fixed assets (approximation) | - | €-2k | €-9k | €-2k | €-19k | ▼ 764% |
| Change in cash | - | €-400 | €11k | €5k | €292 | ▼ 94.5% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2021net €76k ▲56.4%
Operating result €104k, net result €76k, both a record.
24-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 55 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Lievegem · 1 establishment unit since 2020
Ground area
2,018 m²
Building footprint
185 m²
Volume, LiDAR
929 m³
Parcel 44452B1228/00R000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Manticore
since 20202.310.743.205
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44452B1228/00R000 | Flanders | 2,018 m² | 1 · 185 m² | 8.7 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded25-11-2020
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.