Result
The result fell in 2025: merger with EXPAN CHEMICALS.
The result fell in 2025: merger with EXPAN CHEMICALS.
In 2025, 33 people joined and 31 left. On top of that, 3.3 agency workers worked there on average.
Manuchar pays its suppliers 24 days earlier than in 2024. Customers pay 30 days earlier.
The last five annual accounts were filed 0 to 124 days before the end of the period.
A director left. Latest change 16-06-2026 · 4 in office.
The dashed line is the sector median: 0.2% across 745 companies (NACE 46, medium-sized).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 46, medium-sized). It does better than 48% of them on solvency, 23% on liquidity, 8% on profitability and 48% on growth.
The bankruptcy probability was computed on 08-11-2026 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 very low class on 30-06-2025, 0.1% 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).
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.
The company filed its last 7 accounts on average 66 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Shares in 48 companies, including Crystal Ball South Africa and LDI INTERNATIONAL
Board & ownership| Company | ||||
|---|---|---|---|---|
| Manuchar Antwerp | ≈ €504.9m | -1.9% | 38.1% | 206.7 |
| BRENNTAG Deerlijk | €303.1m | 6.0% | 41.1% | 246.5 |
| YARA BELGIUM SA Saint-Josse-ten-Noode | €331.1m | 1.4% | 81.6% | 286.5 |
| 3M Belgium Machelen (Brab.) | €194.3m | -0.6% | -169.0% | 347.4 |
| Eval Europe Beveren-Kruibeke-Zwijndrecht | €262.6m | 16.0% | 88.1% | 176 |
| SQM EUROPE Antwerp | €881.2m | 5.9% | 82.4% | 64.7 |
| Milliken Europe Ghent | €146.4m | 6.8% | 78.9% | 75.4 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Manuchar: wholesale of industrial chemicals (NACE 46851). They are comparable in size and age: total assets between €125m and €507m, founded between 1933 and 1997.
Manuchar has been active since 1970 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of USD 182.7m and a net result of -USD 9.5m.
Its solvency ranks better than 42% of 6,191 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The company also files consolidated accounts, with the figures of the whole group.
The accounts were filed in USD. The amounts in euro are an estimate (≈) at ECB reference rates. The balance sheet is at the rate on the balance-sheet date (1 EUR = 1.1750 USD on 31-12-2025), turnover and results at the financial year's average rate (1 EUR = 1.1300 USD). The filed accounts themselves stay in USD.
Higher than 42% of 6,191 companies in 2025.
Higher than 16% of 6,111 companies in 2025.
Higher than 18% of 6,175 companies in 2025.
Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: top quarter
100.4 men and 106.3 women in full-time equivalents in 2025.
Men USD 136,984, women USD 102,812 per full-time equivalent. Jobs differ, so this is not a pay gap.
In 2025, 33 people joined and 31 left. Training hours in 2025: 4,596. Agency workers: 3.3 on average.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
USD 479.3m | USD 454.6m | 343.7m | 506.8m | 322.6m | 236.8m | 290.7m | 302.7m | 251.3m | 251.1m | 271.3m | 267.3m | 246.2m | 238.0m | 240.4m | 165.2m | 102.7m | 127.2m | 83.8m | |
21/28 |
USD 182.5m | USD 181.3m | 149.5m | 113.8m | 83.6m | 81.0m | 80.7m | 76.5m | 80.2m | 83.9m | 60.6m | 47.8m | 43.4m | 29.5m | 23.7m | 11.2m | 10.5m | 9.1m | 7.9m | |
21 |
USD 21.3m | USD 20.6m | 12.0m | 3.0m | 1.1m | 361,352 | 1.3m | 352,147 | - | - | - | 1,522 | 6,401 | 209,686 | 109,581 | 85,858 | 61,517 | 48,010 | - | |
22/27 |
USD 1.4m | USD 1.5m | 1.3m | 1.3m | 1.0m | 898,196 | 1.0m | 1.1m | 958,821 | 1.2m | 1.8m | 2.3m | 1.0m | 1.7m | 740,198 | 735,376 | 815,127 | 900,366 | 782,905 | |
22 |
USD 774,606 | USD 590,488 | 412,903 | 435,511 | 396,596 | 337,146 | 410,428 | 389,774 | 380,971 | 458,298 | 619,849 | 583,148 | 672,752 | 775,203 | 376,153 | 418,101 | 495,492 | 513,687 | 300,101 | |
23 |
- | - | - | - | - | - | - | - | - | 197 | 790 | 1,382 | - | - | - | - | - | - | - | |
24 |
USD 647,519 | USD 924,092 | 849,543 | 863,404 | 638,495 | 561,050 | 599,470 | 698,777 | 467,911 | 336,523 | 333,186 | 309,673 | 369,129 | 918,737 | 364,045 | 317,276 | 319,634 | 386,678 | 482,804 | |
28 |
USD 159.8m | USD 159.1m | 136.2m | 109.5m | 81.4m | 79.7m | 78.4m | 75.1m | 79.2m | 82.7m | 58.9m | 45.5m | 42.3m | 27.6m | 22.8m | 10.4m | 9.6m | 8.1m | 7.1m | |
280/1 |
USD 159.6m | USD 158.7m | 135.7m | 109.0m | 81.1m | 79.4m | 78.1m | 74.8m | 78.9m | 82.3m | 58.5m | 45.2m | 42.0m | 27.3m | 22.8m | 10.4m | 9.6m | 8.0m | 7.1m | |
280 |
USD 108.8m | USD 97.3m | 80.3m | 79.4m | 75.6m | 68.7m | 64.8m | 56.4m | 56.0m | 58.7m | 58.5m | 45.2m | 42.0m | 27.3m | 22.8m | 10.4m | 9.6m | 8.0m | 7.1m | |
281 |
USD 50.9m | USD 61.4m | 55.4m | 29.7m | 5.5m | 10.7m | 13.2m | 18.3m | 22.9m | 23.6m | - | - | - | - | - | - | - | - | - | |
282/3 |
USD 5,753 | USD 307,849 | 346,601 | 346,600 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | - | - | 43,161 | 43,161 | 43,161 | |
282 |
USD 5,753 | USD 307,849 | 346,601 | 346,600 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | 282,000 | - | - | 43,161 | 43,161 | 43,161 | |
284/8 |
USD 126,819 | USD 123,024 | 109,220 | 110,100 | 83,804 | 82,290 | 60,614 | 38,717 | 36,041 | 38,633 | 44,983 | 98,386 | 50,215 | 30,186 | 38,369 | 30,144 | 33,647 | 44,196 | 17,396 | |
285/8 |
USD 126,819 | USD 123,024 | 109,220 | 110,100 | 83,804 | 82,290 | 60,614 | 38,717 | 36,041 | 38,633 | 44,983 | 98,386 | 50,215 | 30,186 | 38,369 | 30,144 | 33,647 | 44,196 | 17,396 | |
29/58 |
USD 296.8m | USD 273.4m | 194.2m | 393.1m | 239.0m | 155.8m | 210.0m | 226.2m | 171.2m | 167.2m | 210.6m | 219.5m | 202.8m | 208.4m | 216.7m | 153.9m | 92.2m | 118.2m | 75.9m | |
29 |
USD 3.5m | USD 2.1m | 5.4m | 4.1m | 6.1m | 6.9m | 11.6m | 8.3m | 3.8m | 3.8m | 14.6m | 8.4m | - | 3.8m | 5.7m | 7.9m | 1.0m | 1.6m | 234,000 | |
290 |
- | - | - | - | - | - | - | - | - | - | 5.8m | - | - | - | - | 555,636 | 1.0m | 1.6m | - | |
291 |
USD 3.5m | USD 2.1m | 5.4m | 4.1m | 6.1m | 6.9m | 11.6m | 8.3m | 3.8m | 3.8m | 8.8m | 8.4m | - | 3.8m | 5.7m | 7.4m | - | - | 234,000 | |
3 |
USD 56,663 | USD 56,663 | 2.5m | 5.5m | 4.2m | 3.4m | 2.6m | 3.2m | 2.6m | 2.2m | 4.2m | 9.5m | 6.7m | 4.9m | 1.7m | 168,488 | 195,066 | - | - | |
30/36 |
USD 56,663 | USD 56,663 | 2.5m | 5.5m | 4.2m | 3.4m | 2.6m | 3.2m | 2.6m | 2.2m | 4.2m | 9.5m | 6.7m | 4.9m | 1.7m | 168,488 | 195,066 | - | - | |
30/31 |
- | - | - | 116,831 | 887,864 | 1.8m | 1.1m | 1.9m | 1.6m | 1.1m | 3.5m | 8.9m | 5.8m | 4.4m | 1.4m | - | - | - | - | |
34 |
USD 56,663 | USD 56,663 | 2.5m | 5.4m | 3.3m | 1.5m | 1.5m | 1.3m | 1.1m | 1.1m | 632,082 | 609,552 | 841,476 | 551,680 | 231,134 | 168,488 | 195,066 | - | - | |
40/41 |
USD 246.3m | USD 266.1m | 162.2m | 380.2m | 225.5m | 144.5m | 194.5m | 212.4m | 161.2m | 153.3m | 188.3m | 195.8m | 194.0m | 196.6m | 201.4m | 143.0m | 88.3m | 114.1m | 72.7m | |
40 |
USD 221.7m | USD 246.5m | 146.6m | 299.6m | 219.4m | 138.0m | 186.5m | 194.7m | 139.0m | 127.1m | 156.4m | 163.6m | 162.7m | 157.8m | 165.1m | 130.7m | 80.1m | 105.2m | 67.8m | |
41 |
USD 24.7m | USD 19.6m | 15.6m | 80.5m | 6.1m | 6.5m | 8.0m | 17.7m | 22.2m | 26.2m | 31.9m | 32.3m | 31.4m | 38.8m | 36.3m | 12.3m | 8.2m | 8.9m | 4.9m | |
50/53 |
USD 31.4m | USD 1.9m | 2.8m | - | 44,614 | - | 226,359 | 1.3m | 568,167 | 4.1m | 1.6m | 1.9m | 1.6m | 824,943 | 544,504 | 1.4m | 258,524 | 245,816 | 185,295 | |
51/53 |
USD 31.4m | USD 1.9m | 2.8m | - | 44,614 | - | 226,359 | 1.3m | 568,167 | 4.1m | 1.6m | 1.9m | 1.6m | 824,943 | 544,504 | 1.4m | 258,524 | 245,816 | 185,295 | |
54/58 |
USD 10.6m | USD 1.2m | 19.8m | 987,962 | 2.6m | 514,772 | 507,999 | 317,844 | 2.3m | 3.0m | 1.3m | 3.8m | 398,137 | 2.2m | 7.3m | 1.4m | 2.2m | 1.9m | 2.1m | |
490/1 |
USD 4.7m | USD 2.0m | 1.5m | 2.3m | 577,548 | 476,481 | 573,019 | 656,237 | 718,885 | 896,565 | 683,955 | 35,081 | 89,303 | 48,244 | 154,012 | 129,957 | 171,346 | 354,647 | 804,665 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
USD 479.3m | USD 454.6m | 343.7m | 506.8m | 322.6m | 236.8m | 290.7m | 302.7m | 251.3m | 251.1m | 271.3m | 267.3m | 246.2m | 238.0m | 240.4m | 165.2m | 102.7m | 127.2m | 83.8m | |
10/15 |
USD 182.7m | USD 192.2m | 175.3m | 122.3m | 20.9m | 6.8m | 7.6m | 11.3m | 18.8m | 29.8m | 33.5m | 32.6m | 37.8m | 25.1m | 22.8m | 19.7m | 15.7m | 13.0m | 7.8m | |
10/11 |
USD 1.0m | USD 1.0m | 806,948 | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | |
10 |
USD 1.0m | USD 1.0m | 806,948 | 1.0m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
USD 1.0m | USD 1.0m | 806,948 | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | |
12 |
- | - | - | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | 108,070 | |
13 |
USD 96,329 | USD 96,329 | 87,274 | 108,314 | 108,314 | 108,314 | 108,314 | 107,732 | 107,732 | 107,732 | 107,732 | 107,732 | 107,732 | 107,732 | 107,732 | 389,732 | 970,232 | 1.5m | 1.5m | |
130/1 |
USD 87,959 | USD 87,959 | 81,164 | 100,731 | 100,731 | 100,731 | 582 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
USD 87,317 | USD 87,317 | 80,695 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | 100,149 | |
1319 |
USD 642 | USD 642 | 469 | 582 | 582 | 582 | 582 | - | - | - | - | - | - | - | - | - | - | - | - | |
132 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 282,000 | 862,500 | 1.4m | 1.4m | |
133 |
USD 8,371 | USD 8,371 | 6,110 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | 7,583 | |
14 |
USD 181.6m | USD 191.1m | 174.4m | 121.1m | 19.7m | 5.6m | 6.3m | 10.0m | 17.5m | 28.6m | 32.3m | 31.4m | 36.6m | 23.9m | 21.6m | 18.2m | 13.6m | 10.4m | 5.2m | |
16 |
- | - | - | - | - | 215,787 | 223,501 | 12,096 | 275,260 | 291,500 | - | - | - | - | - | - | - | - | - | |
160/5 |
- | - | - | - | - | 215,787 | 223,501 | 12,096 | 275,260 | 291,500 | - | - | - | - | - | - | - | - | - | |
164/5 |
- | - | - | - | - | 215,787 | 223,501 | 12,096 | 275,260 | 291,500 | - | - | - | - | - | - | - | - | - | |
17/49 |
USD 296.6m | USD 262.4m | 168.4m | 384.5m | 301.7m | 229.8m | 282.9m | 291.5m | 232.3m | 221.0m | 237.8m | 234.7m | 208.4m | 212.8m | 217.5m | 145.5m | 87.0m | 114.2m | 76.0m | |
17 |
- | - | 53.6m | 222.8m | 43.3m | 57.3m | 76.1m | 40.3m | 30.1m | 833,328 | 1.6m | 2.6m | 7.1m | 2.6m | 12.9m | 8.7m | 5.8m | 6.2m | 5.0m | |
170/4 |
- | - | 53.6m | 222.8m | 43.3m | 57.3m | 76.1m | 40.3m | 30.0m | 703,757 | 1.4m | 2.4m | 6.8m | 2.4m | 12.9m | 8.7m | 5.8m | 6.2m | 5.0m | |
170 |
- | - | - | - | 25.0m | 35.0m | 30.3m | 20.3m | 20.0m | - | - | - | 5.0m | - | 10.0m | 5.0m | 5.0m | 5.0m | 5.0m | |
172 |
- | - | - | - | - | - | - | - | 30,050 | 109,820 | 281,876 | 836,776 | - | - | - | - | - | - | - | |
173 |
- | - | - | - | 12.9m | 19.7m | 43.0m | 20.0m | 10.0m | 593,937 | 1.2m | 1.5m | 1.8m | 2.4m | 2.9m | 3.7m | 810,878 | 1.2m | - | |
174 |
- | - | 53.6m | 222.8m | 5.4m | 2.6m | 2.8m | - | - | - | - | - | - | - | - | - | - | - | - | |
178/9 |
- | - | - | - | - | - | 26,717 | 63,737 | 101,806 | 129,571 | 166,591 | 203,611 | 240,631 | 277,652 | - | - | - | - | - | |
42/48 |
USD 286.6m | USD 258.0m | 109.7m | 150.6m | 250.8m | 169.2m | 204.1m | 248.1m | 199.9m | 218.9m | 234.6m | 231.3m | 199.8m | 209.7m | 203.8m | 136.2m | 80.8m | 107.6m | 70.0m | |
42 |
USD 93.3m | USD 60.3m | 212,075 | 650,718 | 40.9m | 23.1m | 37,646 | 67,071 | 122,728 | 27.4m | 21.2m | 6.5m | 1.1m | 11.0m | 1.0m | 1.0m | 655,791 | 1.0m | - | |
43 |
USD 89.1m | USD 62.7m | 30.8m | 63.6m | 119.7m | 57.8m | 134.3m | 211.7m | 168.8m | 143.7m | 166.8m | 170.5m | 150.5m | 153.2m | 159.9m | 110.3m | 58.9m | 87.5m | 49.7m | |
430/8 |
USD 89.1m | USD 62.7m | 30.8m | 63.6m | 119.7m | 57.8m | 134.3m | 201.7m | 168.8m | 121.8m | 166.8m | 170.5m | 150.5m | 153.2m | 159.9m | 110.3m | 58.9m | 87.5m | 49.7m | |
439 |
- | - | - | - | - | - | - | 10.0m | - | 21.9m | - | - | - | - | - | - | - | - | - | |
44 |
USD 99.3m | USD 123.9m | 70.5m | 77.2m | 77.5m | 55.2m | 51.8m | 20.7m | 16.7m | 37.1m | 34.7m | 41.2m | 37.4m | 35.5m | 31.6m | 19.7m | 15.8m | 14.7m | 14.9m | |
440/4 |
USD 99.3m | USD 123.9m | 70.5m | 77.2m | 77.5m | 55.2m | 51.8m | 20.7m | 16.7m | 37.1m | 34.7m | 41.2m | 37.4m | 35.5m | 31.6m | 19.7m | 15.8m | 14.7m | 14.9m | |
45 |
USD 2.5m | USD 2.0m | 3.7m | 4.2m | 2.3m | 2.2m | 1.9m | 1.8m | 1.4m | 2.0m | 2.3m | 1.9m | 2.1m | 1.5m | 1.7m | 1.3m | 1.7m | 1.5m | 424,128 | |
450/3 |
USD 106,439 | USD 18,818 | 1.1m | 379,308 | 17,688 | 243,520 | - | 42,607 | 1,574 | 8,162 | 8,060 | 6,412 | 483,992 | 58,731 | 406,619 | 145,248 | 696,390 | 734,918 | 79,929 | |
454/9 |
USD 2.4m | USD 2.0m | 2.6m | 3.8m | 2.3m | 1.9m | 1.9m | 1.7m | 1.4m | 2.0m | 2.3m | 1.9m | 1.7m | 1.4m | 1.3m | 1.2m | 1.0m | 794,639 | 344,199 | |
47/48 |
USD 2.3m | USD 9.0m | 4.4m | 5.0m | 10.4m | 31.0m | 16.1m | 13.9m | 12.9m | 8.7m | 9.7m | 11.2m | 8.7m | 8.4m | 9.5m | 3.8m | 3.7m | 2.9m | 5.0m | |
492/3 |
USD 10.1m | USD 4.4m | 5.2m | 11.1m | 7.5m | 3.2m | 2.7m | 3.0m | 2.2m | 1.3m | 1.5m | 881,178 | 1.5m | 523,321 | 863,628 | 597,923 | 418,801 | 397,116 | 1.0m | |
| Income statement | ||||||||||||||||||||
70/76A |
USD 592.3m | USD 543.3m | 540.6m | 1.13bn | 778.7m | 504.9m | 543.7m | 509.9m | 426.9m | 342.1m | 391.1m | 318.0m | 300.3m | 303.9m | 263.2m | 209.8m | 137.0m | 245.7m | 145.0m | |
70 |
USD 570.5m | USD 521.7m | 507.8m | 1.11bn | 767.7m | 496.3m | 533.0m | 500.8m | 418.8m | 333.3m | 383.6m | 310.9m | 292.8m | 299.2m | 259.2m | 206.4m | 133.4m | 242.5m | 144.3m | |
72 |
USD 2.5m | - | 9.8m | 2.2m | 566,632 | 352,140 | 750,593 | - | - | - | - | - | - | - | - | - | - | - | - | |
74 |
USD 19.1m | USD 21.3m | 23.0m | 12.9m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
76A |
USD 305,429 | USD 170,968 | 15,513 | 3.9m | 658,345 | 44,142 | 1.2m | 52,850 | 20,854 | 49,690 | 10,787 | 388,312 | 27,658 | 9,869 | 7,045 | 93,076 | 33,438 | 164,916 | 152,066 | |
60/66A |
USD 603.0m | USD 547.0m | 535.7m | 1.09bn | 766.9m | 499.6m | 531.8m | 497.1m | 419.1m | 342.2m | 389.2m | 319.1m | 294.3m | 300.6m | 260.5m | 206.7m | 131.8m | 235.0m | 139.7m | |
60 |
USD 535.7m | USD 490.0m | 469.8m | 1.04bn | 723.4m | 469.1m | 501.0m | 473.5m | 396.4m | 315.7m | 368.0m | 296.8m | 277.0m | 283.9m | 248.1m | 196.0m | 122.2m | 227.0m | 134.9m | |
600/8 |
USD 535.7m | USD 487.3m | 466.8m | 1.04bn | 724.2m | 469.8m | 500.4m | 474.1m | 396.9m | 313.7m | 362.7m | 294.0m | 278.8m | 287.1m | 249.6m | 196.0m | 122.4m | 227.0m | 134.9m | |
609 |
- | USD 2.7m | 3.0m | -1.3m | -819,608 | -739,030 | 564,951 | -555,853 | -462,076 | 2.0m | 5.3m | 2.8m | -1.8m | -3.2m | -1.5m | 26,578 | -195,066 | - | - | |
61 |
USD 30.3m | USD 25.0m | 40.2m | 19.9m | 15.4m | 10.5m | 9.3m | 8.6m | 8.3m | 8.3m | 6.6m | 5.7m | 4.4m | 4.4m | 4.3m | 3.5m | 3.1m | 2.8m | 3.3m | |
62 |
USD 24.7m | USD 20.0m | 23.8m | 22.5m | 20.1m | 15.7m | 15.9m | 14.6m | 13.9m | 13.1m | 12.7m | 11.0m | 10.0m | 8.8m | 7.8m | 6.9m | 6.1m | 5.0m | 1.2m | |
630 |
USD 6.5m | USD 3.0m | 1.2m | 785,266 | 656,797 | 710,798 | 681,415 | 432,563 | 611,817 | 1.4m | 847,004 | 739,003 | 292,589 | 471,843 | 275,114 | 312,326 | 310,101 | 311,768 | 256,623 | |
631/4 |
-USD 283,783 | USD 1.4m | 113,944 | 1.9m | 506,326 | 515,142 | 611,893 | -139,637 | -174,582 | 3.4m | 999,838 | 4.9m | 2.5m | 3.1m | - | - | - | - | - | |
635/8 |
- | - | - | - | -215,787 | -7,581 | 211,106 | 48,760 | -16,256 | 291,500 | - | - | - | - | - | - | - | - | - | |
640/8 |
USD 247,011 | USD 263,806 | 126,734 | 114,643 | 109,739 | 107,790 | 119,295 | 49,148 | 50,505 | 35,754 | 36,554 | 44,616 | 29,419 | 41,204 | 30,392 | 22,072 | 25,239 | 29,640 | 10,110 | |
66A |
USD 5.9m | USD 7.3m | 350,668 | 1.1m | 7.1m | 3.1m | 4.0m | 30.5m | 13.7m | 45,470 | 4.0m | 236,428 | 66,154 | 7,836 | 552,945 | - | - | 94,715 | 176,630 | |
9901 |
-USD 10.7m | -USD 3.8m | 4.9m | 46.1m | 11.8m | 5.3m | 11.9m | 12.8m | 7.8m | -111,232 | 1.9m | -1.1m | 5.9m | 3.3m | 2.7m | 3.1m | 5.2m | 10.6m | 5.3m | |
75/76B |
USD 31.7m | USD 21.0m | 101.0m | 91.3m | 24.3m | 15.2m | 13.5m | 28.3m | 6.1m | 15.6m | 19.5m | 7.5m | 23.1m | 7.1m | 10.3m | 8.8m | 6.5m | 4.7m | 2.4m | |
75 |
USD 29.5m | USD 15.8m | 50.5m | 91.3m | 20.3m | 14.7m | 13.5m | 28.3m | 6.1m | 15.2m | 19.5m | 7.5m | 23.1m | 7.1m | 10.3m | 8.8m | 6.5m | 4.7m | 2.4m | |
750 |
USD 14.8m | USD 3.4m | 36.4m | 85.6m | 17.0m | 5.7m | 5.0m | 20.3m | 2.2m | 11.8m | 10.7m | 1.2m | 15.4m | 3.8m | 5.3m | 7.1m | 5.0m | 2.4m | 1.1m | |
751 |
USD 8.4m | USD 8.8m | 9.0m | 3.8m | 1.7m | 1.8m | 6.5m | 5.4m | 3.5m | 2.4m | 2.1m | 2.0m | 2.1m | 3.0m | 2.5m | 1.7m | 1.2m | 660,566 | 923,846 | |
752/9 |
USD 6.3m | USD 3.5m | 5.1m | 1.9m | 1.6m | 7.1m | 2.0m | 2.6m | 316,394 | 1.1m | 6.7m | 4.3m | 5.6m | 232,226 | 2.4m | 1,325 | 174,845 | 1.6m | 447,826 | |
76B |
USD 2.3m | USD 5.2m | 50.5m | - | 4.0m | 541,928 | - | - | - | 359,884 | - | - | - | - | - | - | - | - | - | |
65/66B |
USD 30.5m | USD 18.3m | 28.6m | 35.1m | 22.1m | 18.3m | 26.2m | 48.3m | 24.9m | 15.9m | 14.2m | 9.6m | 14.9m | 8.1m | 6.7m | 5.4m | 5.6m | 7.0m | 6.4m | |
65 |
USD 29.6m | USD 18.3m | 28.5m | 35.1m | 18.1m | 18.3m | 18.3m | 17.9m | 11.2m | 12.7m | 14.2m | 9.6m | 14.9m | 8.1m | 6.7m | 5.4m | 5.6m | 7.0m | 6.4m | |
650 |
USD 18.8m | USD 12.1m | 18.4m | 24.7m | 10.3m | 9.0m | 11.6m | 11.2m | 6.3m | 5.4m | 5.2m | 5.7m | 4.9m | 5.2m | 3.8m | 3.0m | 2.6m | 4.8m | 4.9m | |
651 |
- | - | - | - | - | - | - | - | - | - | - | - | -12,957 | - | -7,472 | 11,583 | 24,848 | 11,789 | 170,893 | |
652/9 |
USD 10.8m | USD 6.2m | 10.2m | 10.3m | 7.8m | 9.3m | 6.8m | 6.6m | 4.9m | 7.4m | 9.1m | 4.0m | 10.0m | 3.0m | 2.9m | 2.4m | 3.0m | 2.2m | 1.3m | |
66B |
USD 946,734 | - | 92,413 | - | 4.0m | - | 7.9m | 30.5m | 13.7m | 3.2m | - | - | - | - | - | - | - | - | - | |
9903 |
-USD 9.5m | -USD 1.1m | 77.3m | 102.3m | 14.0m | 2.3m | -748,906 | -7.2m | -11.1m | -466,193 | 3.1m | -3.1m | 14.0m | 2.2m | 5.8m | 6.6m | 6.1m | 8.4m | 1.4m | |
67/77 |
USD 68,353 | -USD 59,277 | 37,112 | 913,185 | -104,824 | 24,498 | -50,979 | 269,301 | 11,295 | 8,162 | 8,060 | 6,412 | 25,513 | -46,049 | 476,039 | -44,117 | 250,371 | 1.7m | - | |
670/3 |
USD 68,353 | USD 37,424 | 37,112 | 913,185 | 25,650 | 24,498 | 173,627 | 269,301 | 11,295 | 8,162 | 8,060 | 6,412 | 25,513 | - | 476,039 | - | 250,371 | 1.7m | - | |
77 |
- | USD 96,701 | - | - | 130,475 | - | 224,606 | - | - | - | - | - | - | 46,049 | - | 44,117 | - | - | - | |
9904 |
-USD 9.5m | -USD 1.0m | 77.2m | 101.4m | 14.1m | 2.3m | -697,927 | -7.5m | -11.1m | -474,355 | 3.1m | -3.1m | 14.0m | 2.3m | 5.3m | 6.7m | 5.8m | 6.7m | 1.4m | |
789 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 282,000 | 580,500 | 570,000 | - | - | |
689 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 682,500 | |
9905 |
-USD 9.5m | -USD 1.0m | 77.2m | 101.4m | 14.1m | 2.3m | -697,927 | -7.5m | -11.1m | -474,355 | 3.1m | -3.1m | 14.0m | 2.3m | 5.6m | 7.2m | 6.4m | 6.7m | 684,197 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
USD 181.6m | USD 191.1m | 198.4m | 121.1m | 19.7m | 8.6m | 9.3m | 10.0m | 17.5m | 31.8m | 34.5m | 33.5m | 37.9m | 23.9m | 23.8m | 20.8m | 16.8m | 11.9m | 7.9m | |
14P |
USD 191.1m | USD 192.1m | 121.1m | 19.7m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 23.9m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
- | - | 23.9m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | - | - | - | - | 3.0m | 3.0m | - | - | 3.2m | 2.2m | 2.1m | 1.4m | - | 2.1m | 2.6m | 3.2m | 1.5m | 2.7m | |
694 |
- | - | - | - | - | 2.0m | 2.0m | - | - | 3.0m | 2.0m | 2.0m | 1.2m | - | 2.0m | 2.5m | 3.0m | 1.3m | 2.6m | |
695 |
- | - | - | - | - | 1.0m | 1.0m | - | - | 200,000 | 200,000 | 155,000 | 155,000 | - | 155,000 | 155,000 | 155,000 | 135,000 | 135,000 | |
| Social balance sheet | ||||||||||||||||||||
9087 |
206.7 | 207.4 | 259.6 | 262 | 224.8 | 206.6 | 199.9 | 186.8 | 182.9 | 182.2 | 170.8 | 153.1 | 139.1 | 127.9 | 113.2 | 102 | 94.1 | 79.9 | 18.6 | |
Men (FTE)1003 |
100.4 | 101.9 | 136.5 | 142.6 | 118.6 | 107 | 103.2 | 100.8 | 98.6 | 96.2 | 94.4 | 87.5 | 81.9 | 75.5 | - | - | - | - | - | |
Women (FTE)1003 |
106.3 | 105.5 | 123.1 | 119.2 | 106.2 | 99.6 | 96.7 | 86 | 84.3 | 86 | 76.4 | 65.6 | 57.2 | 52.4 | - | - | - | - | - | |
Agency workers1501 |
3.3 | 0.8 | - | 7.8 | 2.8 | 2.6 | 0.8 | 1.4 | 1.4 | 1.3 | 0.6 | 2 | 0.1 | 0.5 | - | - | 0.2 | 0.1 | - | |
Hours worked1013 |
330,220 | 330,710 | 408,088 | 416,646 | 359,021 | 334,425 | 319,641 | 306,273 | 296,803 | 294,266 | 278,140 | 251,724 | 227,695 | 213,396 | 188,457 | 169,412 | 155,063 | 132,087 | 30,613 | |
| Document | ||||||||||||||||||||
The accounts for 30 older financial years (1977-2006) were filed as documents without figures as data, scans for example.
The notes to these accounts have 89 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 07-07-2026 | 2026-00270368 | |
| 31-12-2024 | full format | 31-07-2025 | 2025-00355657 | |
| 31-12-2023 | full format | 23-05-2024 | 2024-00099987 | |
| 31-12-2022 | consolidated | 13-06-2023 | 2023-00133275 | |
| 31-12-2022 | full format | 22-05-2023 | 2023-00093657 | |
| 31-12-2021 | consolidated | 29-03-2022 | 2022-09900171 | |
| 31-12-2021 | full format | 29-03-2022 | 2022-09900059 | |
| 31-12-2020 | consolidated | 12-05-2021 | 2021-14700273 | |
| 31-12-2020 | full format | 28-04-2021 | 2021-12100573 | |
| 31-12-2019 | consolidated | 14-05-2020 | 2020-12500524 | |
| 31-12-2019 | full format | 13-05-2020 | 2020-12500529 | |
| 31-12-2018 | consolidated | 23-05-2019 | 2019-14800131 | |
| 31-12-2018 | full format | 23-05-2019 | 2019-14800136 | |
| 31-12-2017 | full format | 15-05-2018 | 2018-13100015 | |
| 31-12-2017 | consolidated | 14-05-2018 | 2018-13100098 | |
| 31-12-2016 | consolidated | 22-06-2017 | 2017-22100454 | |
| 31-12-2016 | full format | 21-06-2017 | 2017-21300011 | |
| 31-12-2015 | consolidated | 06-06-2016 | 2016-16500081 | |
| 31-12-2015 | full format | 06-06-2016 | 2016-16600297 | |
| 31-12-2014 | consolidated | 28-07-2015 | 2015-35900410 | |
| 31-12-2014 | full format | 16-06-2015 | 2015-18600351 | |
| 31-12-2013 | consolidated | 17-06-2014 | 2014-19100388 | |
| 31-12-2013 | full format | 27-05-2014 | 2014-14500209 | |
| 31-12-2012 | consolidated | 17-06-2013 | 2013-18700246 | |
| 31-12-2012 | full format | 14-06-2013 | 2013-18600451 | |
| 31-12-2011 | consolidated | 30-03-2012 | 2012-07800526 | |
| 31-12-2011 | full format | 30-03-2012 | 2012-07800489 | |
| 31-12-2010 | consolidated | 30-03-2011 | 2011-07400399 | |
| 31-12-2010 | full format | 30-03-2011 | 2011-07400345 | |
| 31-12-2009 | consolidated | 23-04-2010 | 2010-09800283 | |
| 31-12-2009 | full format | 23-04-2010 | 2010-09800270 | |
| 31-12-2008 | consolidated | 29-04-2009 | 2009-12900370 | |
| 31-12-2008 | full format | 29-04-2009 | 2009-12900197 | |
| 31-12-2007 | consolidated | 29-05-2008 | 2008-18600255 | |
| 31-12-2007 | full format | 28-05-2008 | 2008-18600239 | |
| 31-12-2006 | full format | 01-06-2007 | 2007-16900353 | |
| 31-12-2005 | full format | 02-06-2006 | 2006-18500002 | |
| 31-12-2004 | unclassified schema | 08-06-2005 | 2005-21500014 | |
| 31-12-2003 | unclassified schema | 21-06-2004 | 2004-26900145 | |
| 31-12-2002 | unclassified schema | 04-06-2003 | 2003-18400213 | |
| 31-12-2001 | unclassified schema | 04-06-2002 | 2002-15700236 | |
| 31-12-2000 | consolidated | 18-12-2001 | 2001-75800228 | |
| 31-12-2000 | unclassified schema | 22-06-2001 | 2001-24400005 | |
| 31-12-1999 | consolidated | 06-12-2000 | 2000-73900262 | |
| 31-12-1999 | unclassified schema | 23-06-2000 | 2000-26000034 | |
| 31-12-1998 | unclassified schema | 14-06-1999 | 1999-17600680 | |
| 31-12-1997 | unclassified schema | 12-06-1998 | 1998-16305092 | |
| 31-12-1996 | unclassified schema | 06-06-1997 | 1997-12203959 | |
| 31-12-1995 | unclassified schema | 10-06-1996 | 1996-13504894 | |
| 31-12-1994 | unclassified schema | 24-05-1995 | 1995-09501199 | |
| 31-12-1993 | unclassified schema | 30-05-1994 | 1994-10203813 | |
| 31-12-1992 | unclassified schema | 02-06-1993 | 1993-09701493 | |
| 31-12-1991 | unclassified schema | 16-06-1992 | 1992-11302912 | |
| 31-12-1990 | unclassified schema | 31-05-1991 | 1991-06703187 | |
| 31-12-1989 | unclassified schema | 01-06-1990 | 1990-06501091 | |
| 31-12-1988 | unclassified schema | 02-06-1989 | 1989-06203749 | |
| 31-12-1987 | unclassified schema | 31-05-1988 | 1988-05204531 | |
| 31-12-1986 | unclassified schema | 21-05-1987 | 1987-06602503 | |
| 31-12-1985 | unclassified schema | 23-05-1986 | 1986-08102173 | |
| 31-12-1984 | full format | 07-06-1985 | 1985-08900316 | |
| 31-12-1983 | unclassified schema | 07-06-1984 | 1984-05100089 | |
| 31-12-1982 | unclassified schema | 08-06-1983 | 1983-04702289 | |
| 31-12-1981 | unclassified schema | 10-06-1982 | 1982-04801121 | |
| 31-12-1980 | unclassified schema | 26-06-1981 | 1981-07000329 | |
| 31-12-1979 | unclassified schema | 05-06-1980 | 1980-04301421 | |
| 31-12-1978 | unclassified schema | 06-08-1979 | 1979-09901855 | |
| 31-12-1977 | unclassified schema | 10-08-1978 | 1978-06401418 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €2,752 | €2,752 |
| 2024 | 1 | €8,548 | €8,548 |
| 2023 | 1 | €6,475 | €6,475 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ≈ -3.7m | ≈ -681,995 | 6.1m | 46.9m | 12.5m | 6.0m | 12.6m | 13.2m | 8.4m | 1.3m | 2.7m | -397,616 | 6.2m | 3.8m | 3.0m | 3.5m | 5.5m | 11.0m | 5.6m | ||
| ≈ -2.7m | ≈ 1.8m | 78.5m | 102.2m | 14.7m | 3.0m | -16,512 | -7.1m | -10.5m | 955,532 | 4.0m | -2.3m | 14.3m | 2.8m | 5.6m | 7.0m | 6.1m | 7.0m | 1.6m | ||
| ≈ 23.0m | ≈ 19.4m | 15.2m | 6.8m | 8.4m | 4.1m | 10.5m | 1.9m | 1.6m | 4.5m | 15.3m | 5.4m | 15.1m | 6.3m | 13.3m | 1.0m | 1.8m | 1.5m | 912,323 | ||
| ≈ 9.4m | - | 18.8m | -1.6m | 2.0m | 6,773 | 190,155 | -2.0m | -666,497 | 1.6m | -2.5m | 3.4m | -1.8m | -5.0m | 5.9m | -890,357 | 296,594 | -108,303 | - | ||
| ≈ 8.7m | ≈ 14.8m | 84.6m | 242.5m | -11.9m | -13.4m | 5.9m | -21.9m | -28.7m | -51.6m | -24.0m | -11.8m | 3.0m | -1.2m | 12.9m | 17.8m | 11.4m | 10.6m | 6.0m | ||
| -1.9% | -0.7% | 1.0% | 4.1% | 1.5% | 1.1% | 2.2% | 2.6% | 1.9% | 0.0% | 0.5% | -0.4% | 2.0% | 1.1% | 1.0% | 1.5% | 3.9% | 4.4% | 3.7% | ||
| 38.1% | 42.3% | 51.0% | 24.1% | 6.5% | 2.9% | 2.6% | 3.7% | 7.5% | 11.9% | 12.3% | 12.2% | 15.4% | 10.6% | 9.5% | 11.9% | 15.3% | 10.2% | 9.4% | ||
| 1.04 | 1.06 | 1.77 | 2.61 | 0.95 | 0.92 | 1.03 | 0.91 | 0.86 | 0.76 | 0.90 | 0.95 | 1.01 | 0.99 | 1.06 | 1.13 | 1.14 | 1.10 | 1.09 | ||
| 1.04 | 1.06 | 1.75 | 2.57 | 0.94 | 0.90 | 1.02 | 0.90 | 0.84 | 0.75 | 0.88 | 0.91 | 0.98 | 0.97 | 1.06 | 1.13 | 1.14 | 1.10 | 1.09 | ||
| 1.62 | 1.37 | 0.96 | 3.14 | 14.42 | 33.64 | 37.44 | 25.89 | 12.38 | 7.41 | 7.10 | 7.21 | 5.51 | 8.47 | 9.52 | 7.38 | 5.54 | 8.76 | 9.69 | ||
| -5.2% | -0.5% | 44.1% | 82.9% | 67.3% | 33.3% | -9.2% | -66.7% | -59.0% | -1.6% | 9.3% | -9.4% | 37.1% | 9.1% | 23.1% | 33.8% | 37.1% | 51.2% | 17.4% | ||
| -2.0% | -0.2% | 22.5% | 20.0% | 4.4% | 1.0% | -0.2% | -2.5% | -4.4% | -0.2% | 1.1% | -1.2% | 5.7% | 1.0% | 2.2% | 4.0% | 5.7% | 5.2% | 1.6% | ||
| -0.22 | -0.06 | 0.33 | 1.90 | 1.21 | 0.67 | 1.09 | 1.18 | 1.35 | 0.25 | 0.53 | -0.07 | 1.27 | 0.73 | 0.78 | 1.17 | 2.12 | 2.26 | 1.15 | ||
| 142 days | 172 days | 105 days | 98 days | 104 days | 101 days | 128 days | 142 days | 121 days | 139 days | 149 days | 192 days | 203 days | 193 days | 232 days | 231 days | 219 days | 158 days | 171 days | ||
| 64 days | 88 days | 50 days | 27 days | 38 days | 42 days | 37 days | 16 days | 15 days | 42 days | 34 days | 50 days | 48 days | 45 days | 46 days | 36 days | 46 days | 23 days | 39 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 211 | 209 | 234 | 293 |
| full-time | 182 | 188 | 206 | 274 |
| part-time | 29 | 21 | 28 | 19 |
| in full-time equivalents | 203.2 | 205.3 | 228.5 | 289 |
| 206.7 | 207.4 | 259.6 | 261.8 | |
| On a permanent contract | 211 | 209 | 234 | 293 |
| Joined | 33 | 49 | 50 | 83 |
| Left | 31 | 74 | 109 | 33 |
| Agency workers, average number | 3.3 | 0.8 | - | 7.8 |
| Training hours | 4,596 | 4,241 | 4,826 | 4,399 |
Source: social balance sheet in the 2022 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €295 | €9.8m |
| Carrying value of the other pledged assets | - | - | €295 | €56 |
| USD 181.2m | USD 166.3m | €188.9m | €213.5m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | USD 508,288 | USD 746,400 | €512,143 | €733,045 |
| Intangible fixed assets | USD 9.0m | USD 10.0m | €9.8m | €2.2m |
| Financial fixed assets | USD 13.5m | USD 8.7m | €4.9m | €3.9m |
| USD 6.5m | USD 3.0m | €1.2m | €785,266 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Fee for the audit | USD 141,071 | USD 119,474 | €100,000 | €106,001 |
| Other work by the auditor | - | USD 27,401 | - | €198,010 |
Source: notes to the 2022 to 2025 annual accounts (relations with the auditor)
The operating result for 2025 is a loss of €9.4m, larger than the loss of €3.5m in 2024. It is the lowest result since 2007.
Debt's share of the balance-sheet total rises from 57.7% to 61.9%. Equity is lower and debt is higher.
Source: lists of holdings in the owners' accounts
Source: list of holdings in its own 2025 accounts. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
Part of the group MANUCHAR GROUP Group, risk and exposure| MANUCHAR GROUP
registered office since 30-11-2021 · founded in 2021 |
total assets €888.3m (2025) 0777.879.622 |
| MANUCHAR STEEL
registered office since 01-07-2004 · founded in 2004 · group Manuchar International Trade Services |
turnover €761.2m (2025) 0865.797.353 |
| Manuchar International Trade Services
registered office since 13-03-2023 · founded in 2023 |
30 FTE (2025) 0799.443.514 |
| Manuchar Pulp & Paper
registered office since 13-03-2023 · founded in 2023 · group Manuchar International Trade Services |
16 FTE (2025) 0799.443.316 |
| Manuchar Europe
registered office since 17-11-2022 · founded in 2022 · group MANUCHAR GROUP |
19 FTE (2025) 0793.709.923 |
| Dragonfly Invest
registered office since 15-06-2022 · founded in 2022 |
total assets €36.2m (2025) 0787.276.348 |
| PPLS Invest
registered office since 14-06-2022 · founded in 2022 |
total assets €32.9m (2025) 0787.267.737 |
| Flamengo investments
registered office since 14-06-2022 · founded in 2022 |
total assets €22.1m (2025) 0787.267.638 |
| Corvida investments
registered office since 15-06-2022 · founded in 2022 |
total assets €12.6m (2025) 0787.276.150 |
| LDI INTERNATIONAL
registered office since 17-07-2000 · founded in 2000 · group MANUCHAR GROUP |
total assets €6.7m (2025) 0472.156.309 |
| April Beauty Belgium via Matthias De Raeymaeker, no longer at April Beauty Belgium · Director · deed of 04-08-2016 founded in 1971 · negative equity (2025) |
250 FTE (2025) |
| FEDERATION BELGE DU COMMERCE ET DES SERVICES via Matthias De Raeymaeker, no longer at FEDERATION BELGE DU COMMERCE ET DES SERVICES · Director · deed of 24-11-2016 founded in 1941 · accounts filed late |
59 FTE (2024) |
| OncoDNA via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 20-12-2019 founded in 2012 · negative equity (2025) |
21 FTE (2025) |
| DELEN PRIVATE BANK via John-Eric BERTRAND, at Manuchar until 2022 · (niet uitvoerend) b bestuurder · deed of 18-03-2025 founded in 1994 · group ACKERMANS & VAN HAAREN |
total assets €3.48bn (2025) |
| DREDGING, ENVIRONMENTAL & MARINE ENGINEERING via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 14-07-2020 founded in 1930 · group ACKERMANS & VAN HAAREN |
turnover €21.7m (2025) |
| Société Financière des Sucres via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 12-11-2025 founded in 1929 |
turnover €16.3m (2023) |
| COMPAGNIE D'ENTREPRISES CFE via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 09-06-2021 founded in 1880 · group ACKERMANS & VAN HAAREN |
54 FTE (2025) |
| SIPEF via John-Eric BERTRAND, at Manuchar until 2022 · Non-executive director · deed of 29-07-2026 founded in 1919 |
turnover €288.6m (2025) |
| AvH Growth Capital via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 03-07-2025 founded in 1988 · group ACKERMANS & VAN HAAREN |
total assets €223.7m (2025) |
| BPC Group via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 02-07-2015 founded in 1983 · group ACKERMANS & VAN HAAREN |
301 FTE (2025) |
| Mediahuis Partners via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 24-06-2026 founded in 1976 · group Capstone Partners |
total assets €180.3m (2025) |
| DI via Matthias De Raeymaeker, no longer at DI · Director · deed of 10-01-2019 founded in 1986 |
310 FTE (2025) |
| Dematic via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 16-07-2010 founded in 1947 |
144 FTE (2025) |
| AGIDENS INTERNATIONAL via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 05-12-2023 founded in 1999 · group ACKERMANS & VAN HAAREN |
34 FTE (2025) |
| ALURAL BELGIUM via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 05-02-2010 founded in 1982 · group REYNAERS ALUMINIUM |
137 FTE (2025) |
| DELSHOP via Matthias De Raeymaeker, no longer at DELSHOP · Director · deed of 04-08-2016 founded in 1984 |
total assets €10.3m (2025) |
| BAARBEEK IMMO via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 23-06-2021 founded in 2016 · group ACKERMANS & VAN HAAREN |
total assets €7.1m (2025) |
| Alfa Park via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 05-04-2013 founded in 2011 · group EFFIA Belgium |
24 FTE (2025) |
| MATTHIAS DE RAEYMAEKER via Matthias De Raeymaeker, no longer at MATTHIAS DE RAEYMAEKER · Permanent representative · deed of 14-04-2025 founded in 2010 |
total assets €4.1m (2025) |
| IMMONI via Matthias De Raeymaeker, no longer at IMMONI · Director · deed of 14-11-2014 founded in 1985 |
total assets €2.9m (2025) |
| BANK J.VAN BREDA & C° via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 08-07-2026 group ACKERMANS & VAN HAAREN |
founded in 1930 |
| Belgian Finance Center via John-Eric BERTRAND, at Manuchar until 2022 · Director · deed of 26-10-2023 |
founded in 2012 |
| MANUCHAR WOOD via MATTHIAS DE RAEYMAEKER, no longer at MANUCHAR WOOD · Director · deed of 15-03-2023 No longer active |
0.7 FTE (2024) |
Source for every holding own accounts 2025
| Name | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Crystal Ball South AfricaZA | 100% | ||||||||||||||||||
| LDI INTERNATIONAL | 98.46% | 100% | |||||||||||||||||
| Manuchar AndinaES | 100% | ||||||||||||||||||
| Manuchar Comércio Exterior LtdaBR | 80% | 100% | |||||||||||||||||
| Manuchar Cote d'IvoireCI | 100% | ||||||||||||||||||
| Manuchar Europe | 100% | ||||||||||||||||||
| Manuchar HellasGR | 90% | 100% | |||||||||||||||||
| Manuchar Hong Kong LTDHK | 100% | ||||||||||||||||||
| Manuchar International SA de CVMX | 80% | 96.9% | 97.89% | 95% | 100% | ||||||||||||||
| Manuchar Kimya Sanayi (Turkey)TR | 100% | ||||||||||||||||||
| Manuchar Malaysia SDN. BHD.MY | 100% | ||||||||||||||||||
| Manuchar NamibiaZA | 100% | ||||||||||||||||||
| Manuchar PakistanPK | 100% | ||||||||||||||||||
| Manuchar Peru (Cusa)PE | 50% | 49.99% | 100% | ||||||||||||||||
| Manuchar RomaniaRO | 100% | ||||||||||||||||||
| Manuchar South-AfricaZA | 100% | 50% | 100% | ||||||||||||||||
| Manuchar Thailand LTDTH | 99.99% | 100% | |||||||||||||||||
| Manuchar Trading HouseNG | 99.97% | 99.99% | 100% | ||||||||||||||||
| UNIT ONE | 50% | 99% | 100% | ||||||||||||||||
| Manuchar Argentina Sociedad AnonimaAR | 90% | 95% | 99.12% | 99.8% | 99.99% | ||||||||||||||
| Manuchar IndiaIN | 1% | 99.9% | 100% | 99.95% | |||||||||||||||
| Manuchar BangladeshBD | 49.9% | 99.9% | |||||||||||||||||
| Manuchar ParaguayPY | 99% | ||||||||||||||||||
| Manuchar Philippines IncPH | 90% | 89.84% | |||||||||||||||||
| Manuchar Dominicana SADO | 33.33% | 33.07% | 66.67% | 68.33% | 84.73% | 83.33% | |||||||||||||
| Manuchar Honduras Sa de CvHN | 70% | 80% | 80.01% | ||||||||||||||||
| Manuchar CanadaCA | 80% | ||||||||||||||||||
| Manuchar El SalvadorSV | 80% | ||||||||||||||||||
| Manuchar GuatemalaGT | 80% | ||||||||||||||||||
| Manuchar KenyaKE | 100% | 80% | |||||||||||||||||
| Manuchar TrinidadTT | 1% | 80% | via 80% | ||||||||||||||||
| Manuchar Colombia cia LtdaCO | 50% | 75% | |||||||||||||||||
| Manuchar VenezuelaVE | 99.92% | 100% | 75% | ||||||||||||||||
| Manuchar Chemical TradingEG | 70% | ||||||||||||||||||
| Proquiel Manuchar SpACL | 70% | ||||||||||||||||||
| Manuchar IndonesiaID | 90% | 52.79% | 52.74% | ||||||||||||||||
| Quimica Industrial Montalvo SAEC | 50% | 51% | |||||||||||||||||
| Kanoo Manuchar Saudi ArabiaSA | 50% | ||||||||||||||||||
| Manuchar Ecuador (Mapriplastec)EC | 99.99% | 50% | |||||||||||||||||
| Manuchar Logistics BoliviaBO | 50% | ||||||||||||||||||
| Manuchar AlgerieDZ | 70% | 100% | 49% | ||||||||||||||||
| Manuchar Chemical & Steel TradingAE | 100% | 49% | |||||||||||||||||
| Disachim SaFR | 25% | ||||||||||||||||||
| Manuchar Logistica PeruPE | 6.35% | ||||||||||||||||||
| Manuchar Logistica do Brasil LtdaBR | 100% | 1% | |||||||||||||||||
| Manuchar IncUS | 100% | ||||||||||||||||||
| Manuchar ChiliCL | 99.99% | ||||||||||||||||||
| Manuchar Agro PeruPE | 99.9% | ||||||||||||||||||
| Saturn Capital Corp S.A.C.PE | 37.64% | 68.84% | 68.8% | 96.88% | |||||||||||||||
| Parana Servicios LogisticsAR | 95.81% | ||||||||||||||||||
| EXPAN CHEMICALS | 66% | ||||||||||||||||||
| Rossiya Belgium Manuchar ChemicalsRU | 100% | ||||||||||||||||||
| Manuchar Chemicals Materials StorehouseAE | 100% | ||||||||||||||||||
| BAUBUR | 99.98% | ||||||||||||||||||
| PARTS TRADING COMPANY | 99.96% | ||||||||||||||||||
| MANUCHAR STEEL | 99.9% | ||||||||||||||||||
| Fédèle André BoisFR | 100% | ||||||||||||||||||
| Somin MineraMX | 50% | ||||||||||||||||||
| Manuchar Zuid-AfrikaZA | 100% | ||||||||||||||||||
| Manuchar AustraliaAU | 100% | ||||||||||||||||||
| Manuchar Middle East FzeAE | 100% | ||||||||||||||||||
| Fertilizantes Santa CatarinaBR | 75% | ||||||||||||||||||
| Manuchar GhanaGH | 100% | ||||||||||||||||||
| Quimica Aliadas SRLBO | 50% | ||||||||||||||||||
| Manuchar KazakhstanKZ | 100% | ||||||||||||||||||
| Manuchar Ukraine LTDUA | 100% | ||||||||||||||||||
| LinsumatPE | 50% | ||||||||||||||||||
| Pt Jasa Iron MiningID | 50% | ||||||||||||||||||
| Manuchar Comércio Exterior LtdaBR | 80% | ||||||||||||||||||
Source: list of holdings in its own accounts
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Manuchar was incorporated on 25 February 1970.1 In 2025 the company absorbed EXPAN CHEMICALS by merger.2 The company has filed 67 sets of annual accounts, the latest for financial year 2025.3
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Rietschoorvelden 20 registered office 2170 Antwerp | 15-10-1985 | 2.028.009.385 | Wholesaler of additives (approval) Wholesaler of raw materials Food wholesaler Wholesaler of fertilizers |
| 13-03-2026 | Granted | Nieuwbouw of aanleggen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie submitted 24-11-2025 · project 2025126203 | Antwerpen |
| 16-10-2025 | Discontinued | Nieuwbouw of aanleggen submitted 20-06-2025 · project 2025071358 | Antwerpen |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11028A0138/00E002 | 1.3 ha | - | - |
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