Manuchar Pulp & Paper
The computed 12-month bankruptcy probability of Manuchar Pulp & Paper is 1.0% (low). The 2025 annual accounts show equity of €6.20M and a net result of €1.37M. Equity is growing by ~22.2% per year across the filed fiscal years. Its solvency ranks better than 57% of 182 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €6.20M |
| Net result | €1.37M |
| Staff (FTE) | 15.5 |
| Better than sector | 57% |
Exceptional profile — strong across almost every axis.
Statistical estimate based on public sources — not credit advice nor a finding of fact. How do we compute this?
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The trend is a robust median of all pairwise slopes between fiscal years (Theil–Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 39.6% | 33.3% | |
| Net result | €1.37M | €13k | |
| Equity | €6.20M | €55k | |
| Staff costs | €1.56M | €121k | |
| Employees (FTE) | 15.5 | 2.9 |
| Fiscal year | 2025 |
|---|---|
| Revenue | €64.98M |
| EBITDA | €2.43M |
| Net profit | €1.37M |
| Cash flow | €1.38M |
| Staff costs | €1.56M |
| Income taxes | €459k |
| Dividends | — |
| Total assets | €15.66M |
| Equity | €6.20M |
| Debt | €9.46M |
| of which ≤ 1y | €9.05M |
| of which > 1y | — |
| Working capital | €6.59M |
| Employees (FTE) | 15.5 |
| 2025 | |
|---|---|
| Current ratio | 1.73 |
| Quick ratio | 1.73 |
| Working capital ratio | 42.1% |
| Solvency | 39.6% |
| Debt / equity | 1.53 |
| Long-term debt ratio | — |
| Interest coverage | 3.13 |
| Gross margin | 8.0% |
| Net margin | 2.1% |
| ROA | 8.8% |
| ROE | 22.1% |
| EBITDA margin | 3.7% |
| Days sales outstanding | 57d |
| Days payable outstanding | 39d |
| Inventory turnover | — |
| Days inventory (DSI) | — |
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet — Assets | ||
| TOTAL ASSETS | 20/58 | €15.66M |
| Fixed assets | 21/28 | €18k |
| Tangible fixed assets | 22/27 | €18k |
| Current assets | 29/58 | €15.64M |
| Amounts receivable within one year | 40/41 | €10.19M |
| Investments | 50/53 | €2.00M |
| Cash & bank | 54/58 | €3.45M |
| Balance sheet — Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €15.66M |
| Equity | 10/15 | €6.20M |
| Contributions / capital | 10/11 | €101k |
| Reserves | 13 | €10k |
| Accumulated profits (losses) | 14 | €6.09M |
| Amounts payable | 17/49 | €9.46M |
| Amounts payable within one year | 42/48 | €9.05M |
| Trade debts payable within one year | 44 | €6.45M |
| Income statement | ||
| Turnover | 70 | €64.98M |
| Operating result | 9901 | €2.42M |
| Financial income | 75 | €719k |
| Financial charges | 65 | €1.31M |
| Result before taxes | 9903 | €1.83M |
| Income taxes | 67/77 | €459k |
| Net result for the period | 9904 | €1.37M |
| Result to be appropriated | 9905 | €1.37M |
| NACE primary | Wholesale trade(46180) |
| Legal form | Public limited company(014) |
| Incorporation | 13-03-2023 |
| Status | Active |
| Postal code | 2170 |
Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates — not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11028A0138/00B002 | Flanders | 1.6 ha | 1 · 1,763 m² | 13.4 m · 3 fl. |
A single timeline of everything that happened to this company — publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
31-03-2025 Change in the board of directors
Technical details
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}31-03-2025 Articles of association amended — translation of the articles, coordination of the articles and amendment of specific articles
Technical details
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}11-07-2023 Capital increase of €32,378 to €93,878
- €61.500 → €93.878
Technical details
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}Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.
| Legal nameNL | Manuchar Pulp & Paper |
| AbbreviationNL | Manuchar Paper |