MANU
ActiveSummary
MANU has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €95,665. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 74% of 2076 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-5
Solvency88▼-6
Growth82=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85,000 at 30 days acceptable
Liquidity ample (current ratio 3.23 against 4.51 in 2024; short-term debt: 28.7% and cash: 14.9% of total assets), and 37% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
63%
Return on assets
4.8%
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 08-09-2026, 39 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
39 d late
2024
19 d late
2023
25 d late
2022
7 d early
2021
5 d early
2020
31 d late
2019
74 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 25 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 19 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€2.8m▲ 21.7%
2019 · €2.3m
EBIT margin
4.0%▲ 8.7pp
2019 · -4.7%
Net result
€95,665▼ 35.5%
2024 · €148,418
Working capital
€1.3m▲ 7.8%
2024 · €1.2m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€43,759▼ 61.0%€205,044▲ 369%€192,743▼ 6.0%€229,323▲ 19.0%€153,246▼ 33.2%
Net result€19,706within the sector's middle half▼ 76.1%€146,867above the sector's middle half▲ 645%€140,507above the sector's middle half▼ 4.3%€148,418above the sector's middle half▲ 5.6%€95,665within the sector's middle half▼ 35.5%
EBIT margin
Equity€729,286above the sector's middle half▲ 2.8%€876,153above the sector's middle half▲ 20.1%€1.0mabove the sector's middle half▲ 16.0%€1.2mabove the sector's middle half▲ 14.6%€1.3mwithin the sector's middle half▲ 8.2%
Total assets€1.7mabove the sector's middle half▼ 1.0%€1.7mwithin the sector's middle half▼ 2.1%€1.7mwithin the sector's middle half▲ 1.0%€1.7mwithin the sector's middle half▼ 0.9%€2.0mwithin the sector's middle half▲ 18.0%
Debt€1.0m▼ 3.6%€818,750▼ 18.3%€694,948▼ 15.1%€530,527▼ 23.7%€740,060▲ 39.5%
Working capital€773,026above the sector's middle half▲ 1.5%€1.1mabove the sector's middle half▲ 48.0%€1.0mabove the sector's middle half▼ 9.0%€1.2mabove the sector's middle half▲ 13.9%€1.3mabove the sector's middle half▲ 7.8%
Solvency42.1%within the sector's middle half▲ 1.6pp51.7%within the sector's middle half▲ 9.6pp59.4%within the sector's middle half▲ 7.7pp68.7%above the sector's middle half▲ 9.3pp63.0%within the sector's middle half▼ 5.7pp
Current ratio1.90within the sector's middle half▲ 0.013.58above the sector's middle half▲ 1.683.07above the sector's middle half▼ 0.514.51above the sector's middle half▲ 1.443.23above the sector's middle half▼ 1.28
Return on assets (ROA)1.1%within the sector's middle half▼ 3.6pp8.7%within the sector's middle half▲ 7.5pp8.2%within the sector's middle half▼ 0.5pp8.8%within the sector's middle half▲ 0.5pp4.8%within the sector's middle half▼ 4.0pp
Staff (FTE)2.9below the sector's middle half▲ 45.0%1.7below the sector's middle half▼ 41.4%1.4below the sector's middle half▼ 17.6%1.8below the sector's middle half▲ 28.6%1.5below the sector's middle half▼ 16.7%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 33% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€148,665 ▼ 14.0%
Current assets
€1.9m ▲ 21.6%
Equity and liabilities €2.0m
Equity
€1.3m ▲ 8.2%
Debt
€740,060 ▲ 39.5%
Debt's share of the balance-sheet total rises from 31.3% to 37.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€222,558▼
2024 · €295,025
Cash flow
€164,977▼
2024 · €214,119
Quick ratio
3.22▼
2024 · 4.51
Debt to equity
0.59▲
2024 · 0.46
ROE
7.6%▼
2024 · 12.7%
Interest coverage
12.47▼
2024 · 17.69
Debt ≤ 1 year
€574,306▲
2024 · €337,758
Debt > 1 year
€35,276▼
2024 · €192,769
Income taxes
€42,330▼
2024 · €64,229
Staff costs
€25,348▼
2024 · €41,227
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,039 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €78,580 | €88,030 | €42,431 | €41,227 | €25,348 | ▼ 38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,501 | €50,606 | €56,893 | €65,701 | €69,312 | ▲ 5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €9,745 | €0 | - | - |
| Other operating charges640/8 | €20,598 | €24,652 | €28,293 | €22,648 | €23,613 | ▲ 4.3% |
| Non-recurring operating charges66A | - | €4,300 | - | - | - | - |
| Gross operating margin9900 | €189,438 | €372,633 | €330,105 | €358,899 | €271,519 | ▼ 24.3% |
| Operating profit (loss)9901 | €43,759 | €205,044 | €192,743 | €229,323 | €153,246 | ▼ 33.2% |
| Financial income75/76B | €1,350 | €1,225 | €1,088 | €4 | €2,599 | ▲ 73,530% |
| Recurring financial income75 | €1,350 | €1,225 | €1,088 | €4 | €2,599 | ▲ 73,530% |
| Financial charges65/66B | €10,152 | €13,503 | €11,643 | €16,680 | €17,850 | ▲ 7.0% |
| Recurring financial charges65 | €10,152 | €13,503 | €11,643 | €16,680 | €17,850 | ▲ 7.0% |
| Profit (loss) for the period before taxes9903 | €34,958 | €192,766 | €182,188 | €212,647 | €137,995 | ▼ 35.1% |
| Income taxes67/77 | €15,252 | €45,899 | €41,681 | €64,229 | €42,330 | ▼ 34.1% |
| Profit (loss) for the period9904 | €19,706 | €146,867 | €140,507 | €148,418 | €95,665 | ▼ 35.5% |
| Profit (loss) for the period to be appropriated9905 | €19,706 | €146,867 | €140,507 | €148,418 | €95,665 | ▼ 35.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.7m | €1.7m | €1.7m | €2.0m | ▲ 18.0% |
| Fixed assets21/28 | €98,497 | €107,742 | €168,718 | €172,836 | €148,665 | ▼ 14.0% |
| Tangible fixed assets22/27 | €97,125 | €105,952 | €166,929 | €171,047 | €146,876 | ▼ 14.1% |
| Land and buildings22 | €5,411 | €4,509 | €3,607 | €2,705 | €1,804 | ▼ 33.3% |
| Plant, machinery and equipment23 | - | €40,862 | €82,945 | €70,557 | €69,444 | ▼ 1.6% |
| Furniture and vehicles24 | €87,334 | €57,662 | €78,917 | €97,784 | €75,628 | ▼ 22.7% |
| Other tangible fixed assets26 | €4,380 | €2,920 | €1,460 | €0 | - | - |
| Financial fixed assets28 | €1,373 | €1,790 | €1,790 | €1,790 | €1,790 | = |
| Current assets29/58 | €1.6m | €1.6m | €1.5m | €1.5m | €1.9m | ▲ 21.6% |
| Stocks and contracts in progress3 | €26,915 | €1,070 | €1,870 | €777 | €3,097 | ▲ 299% |
| Stocks30/36 | €26,915 | €1,070 | €1,870 | €777 | €3,097 | ▲ 299% |
| Amounts receivable within one year40/41 | €1.2m | €1.1m | €1.0m | €1.2m | €1.6m | ▲ 32.1% |
| Trade receivables40 | €1.2m | €1.0m | €1.0m | €1.2m | €1.5m | ▲ 24.1% |
| Other amounts receivable41 | €25,409 | €20,985 | €15,396 | €1,589 | €95,926 | ▲ 5,937% |
| Cash at bank and in hand54/58 | €402,701 | €529,766 | €500,973 | €346,980 | €297,902 | ▼ 14.1% |
| Deferred charges and accrued income490/1 | - | - | - | €408 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.7m | €1.7m | €1.7m | €2.0m | ▲ 18.0% |
| Equity10/15 | €729,286 | €876,153 | €1.0m | €1.2m | €1.3m | ▲ 8.2% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Capital10 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Issued capital100 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Reserves13 | €167,000 | €167,000 | €167,000 | €312,000 | €406,000 | ▲ 30.1% |
| Non-distributable reserves130/1 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Legal reserve130 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Distributable reserves133 | €142,000 | €142,000 | €142,000 | €287,000 | €381,000 | ▲ 32.8% |
| Profit (loss) carried forward14 | €312,286 | €459,153 | €599,660 | €603,078 | €604,744 | ▲ 0.3% |
| Amounts payable17/49 | €1.0m | €818,750 | €694,948 | €530,527 | €740,060 | ▲ 39.5% |
| Amounts payable after more than one year17 | €142,238 | €285,562 | €192,769 | €192,769 | €35,276 | ▼ 81.7% |
| Financial debts170/4 | €142,238 | €285,562 | €192,769 | €192,769 | €35,276 | ▼ 81.7% |
| Amounts payable within one year42/48 | €860,288 | €443,188 | €502,179 | €337,758 | €574,306 | ▲ 70.0% |
| Current portion of amounts payable after more than one year42 | €292,725 | €91,019 | €92,792 | €0 | €212,888 | - |
| Trade debts44 | €338,152 | €154,698 | €232,147 | €216,119 | €322,383 | ▲ 49.2% |
| Suppliers440/4 | €338,152 | €154,698 | €232,147 | €216,119 | €322,383 | ▲ 49.2% |
| Taxes, remuneration and social security45 | €10,906 | €11,572 | €9,459 | €27,101 | €39,035 | ▲ 44.0% |
| Taxes450/3 | €10,906 | €11,288 | €7,031 | €23,993 | €37,268 | ▲ 55.3% |
| Remuneration and social security454/9 | - | €284 | €2,429 | €3,107 | €1,767 | ▼ 43.1% |
| Other amounts payable47/48 | €218,505 | €185,899 | €167,780 | €94,538 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €90,000 | - | - | €130,479 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,706 | €146,867 | €140,507 | €148,418 | €95,665 | ▼ 35.5% |
| + Depreciation and write-downs630 | €46,501 | €50,606 | €56,893 | €65,701 | €69,312 | ▲ 5.5% |
| Operating cash flow (approximation) | €66,207 | €197,474 | €197,400 | €214,119 | €164,977 | ▼ 23.0% |
| Investment in fixed assets (approximation) | - | -€59,850 | -€117,870 | -€69,819 | -€45,141 | ▲ 35.3% |
| Change in cash | - | €127,065 | -€28,793 | -€153,993 | -€49,078 | ▲ 68.1% |
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
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 39 days late
2025
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 19 days late
2024
31-12
Financial
Highest result since 2018net €148,418 ▲5.6%
Operating result €229,323, net result €148,418, both a record.
25-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 25 days late
2023
31-12
Financial
Equity above €1mEq €1.0m ▲16%
6 profitable years in a row build equity to €1.0m.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €19,706 ▼76.1%
Net result drops to €19,706, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
13-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 74 days late
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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 · 2 establishment units since 1998
Ground area
3,208 m²
Building footprint
362 m²
Volume, LiDAR
3,400 m³
2 parcels, Brussels, Flanders · tallest building 13.3 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
De Lenglentierstraat 3, 1000 Brussel
since 19982.086.134.854
Peter Benoitstraat 7, 1702 Dilbeek
since 20232.347.289.538
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23026B0116/00C021 | Flanders | 2,809 m² | - | - |
| 21809K0387/00Z006 | Brussels | 399 m² | 1 · 361 m² | 13.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
984500AFBX9E408A8C67
Similar companies · same sector, comparable size
AANNEMINGEN ROMAR
BE 0882.768.690
Brugge · Eq €1,278,535
KRISTOF DELEU
BE 0808.794.116
Staden · Eq €1,290,201
Nico Godrie
BE 0822.232.772
Ranst · Eq €1,294,284
4Best
BE 0701.985.931
Beerse · Eq €1,319,371
TAVAGRO
BE 0477.596.326
Kruisem · Eq €1,199,553
Of 1,366 companies in sector 43110 we hold annual accounts for 635. 303 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-03-1998
Fiscal year end31-12
Activities, NACEBEL 2025
38210Materials recovery from waste
43110Demolition
Contact
E-mail
manusa@skynet.beBrussel
Phone
0475/323284Brussel
Fax
02/4635101Brussel
E-invoicing
Reachable via Peppol
Peppol ID
0208:0462858066
Also
9925:BE0462858066
Registered
22-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.