MANUKI
ActiveSummary
The annual accounts of MANUKI for fiscal year 2025 show a net loss of 62% of total assets and of 76% of the equity at the start of that year. The 2025 annual accounts show equity of €41,161 and a net result of -€127,413. Equity is growing by ~15.9% per year across the filed fiscal years. Its solvency ranks better than 32% of 928 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency45▼-49
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 1.62 against 4.44 in 2024; short-term debt: 46% and cash: 7.3% of total assets), but 80.1% 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
Five 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 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
19.9%
Return on assets
-61.7%
Age of the figures
9 mo
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€127,413
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 08-07-2026, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
23 d early
2024
98 d early
2023
42 d early
2022
89 d early
2021
67 d early
2020
80 d early
2019
88 d early
← 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 70 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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 25 May (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 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 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 What changed in the latest annual accounts?What changed
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, abbreviated schema
Equity
€41,161▼ 75.6%
2024 · €168,574
Total assets
€206,466▼ 16.1%
2024 · €246,073
Net result
-€127,413▼ 25.9%
2024 · -€101,194
Working capital
€59,007▼ 61.1%
2024 · €151,513
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing 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
Operating result€85,518▲ 25.3%€30,277▼ 64.6%€107,530▲ 255%-€100,686-€124,614▼ 23.8%
Net result€53,150within the sector's middle half▼ 4.3%€24,480within the sector's middle half▼ 53.9%€76,261within the sector's middle half▲ 212%-€101,194below the sector's middle half-€127,413below the sector's middle half▼ 25.9%
Equity€234,003within the sector's middle half▲ 29.4%€258,483within the sector's middle half▲ 10.5%€334,745within the sector's middle half▲ 29.5%€168,574within the sector's middle half▼ 49.6%€41,161below the sector's middle half▼ 75.6%
Total assets€272,369below the sector's middle half▲ 42.0%€296,776below the sector's middle half▲ 9.0%€381,569below the sector's middle half▲ 28.6%€246,073below the sector's middle half▼ 35.5%€206,466below the sector's middle half▼ 16.1%
Debt€38,366▲ 249%€38,293▼ 0.2%€46,824▲ 22.3%€77,499▲ 65.5%€165,304▲ 113%
Working capital€194,775within the sector's middle half▲ 17.3%€222,426within the sector's middle half▲ 14.2%€305,817within the sector's middle half▲ 37.5%€151,513within the sector's middle half▼ 50.5%€59,007within the sector's middle half▼ 61.1%
Solvency85.9%above the sector's middle half▼ 8.4pp87.1%above the sector's middle half▲ 1.2pp87.7%above the sector's middle half▲ 0.6pp68.5%above the sector's middle half▼ 19.2pp19.9%within the sector's middle half▼ 48.6pp
Current ratio6.34above the sector's middle half▼ 16.838.25above the sector's middle half▲ 1.9110.61above the sector's middle half▲ 2.364.44above the sector's middle half▼ 6.171.62within the sector's middle half▼ 2.82
Return on assets (ROA)19.5%above the sector's middle half▼ 9.4pp8.2%within the sector's middle half▼ 11.3pp20.0%above the sector's middle half▲ 11.7pp-41.1%below the sector's middle half▼ 61.1pp-61.7%below the sector's middle half▼ 20.6pp
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €124,614 in 2025 against €100,686 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €206,466
Fixed assets
€52,390 ▲ 3.7%
Current assets
€154,076 ▼ 21.2%
Equity and liabilities €206,466
Equity
€41,161 ▼ 75.6%
Debt
€165,304 ▲ 113%
Debt's share of the balance-sheet total rises from 31.5% to 80.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€115,533▼
2024 · -€94,783
Cash flow
-€118,332▼
2024 · -€95,292
Quick ratio
1.37▼
2024 · 3.90
Debt to equity
4.02▲
2024 · 0.46
ROE
-309.5%▼
2024 · -60.0%
Interest coverage
-28.60▲
2024 · -76.05
Debt ≤ 1 year
€95,068▲
2024 · €44,044
Debt > 1 year
€70,236▲
2024 · €22,762
Income taxes
€137▼
2024 · €141
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,295 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 89% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.6%
went bankrupt
5.9%
stopped otherwise
89%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,295 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,378 | €6,177 | €6,653 | €5,902 | €9,081 | ▲ 53.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €77,742 | - |
| Other operating charges640/8 | €1,312 | €744 | €1,001 | €656 | €791 | ▲ 20.6% |
| Non-recurring operating charges66A | - | - | - | €497 | €10 | ▼ 98.0% |
| Gross operating margin9900 | €91,209 | €37,198 | €115,184 | -€93,630 | -€36,991 | ▲ 60.5% |
| Operating profit (loss)9901 | €85,518 | €30,277 | €107,530 | -€100,686 | -€124,614 | ▼ 23.8% |
| Financial income75/76B | €2,169 | €6,192 | €608 | €878 | €1,377 | ▲ 56.8% |
| Recurring financial income75 | €2,169 | €6,192 | €608 | €878 | €1,377 | ▲ 56.8% |
| Financial charges65/66B | €11,712 | €1,100 | €877 | €1,246 | €4,039 | ▲ 224% |
| Recurring financial charges65 | €11,712 | €1,100 | €877 | €1,246 | €4,039 | ▲ 224% |
| Profit (loss) for the period before taxes9903 | €75,975 | €35,370 | €107,261 | -€101,054 | -€127,276 | ▼ 25.9% |
| Income taxes67/77 | €22,825 | €10,889 | €31,000 | €141 | €137 | ▼ 2.6% |
| Profit (loss) for the period9904 | €53,150 | €24,480 | €76,261 | -€101,194 | -€127,413 | ▼ 25.9% |
| Profit (loss) for the period to be appropriated9905 | €53,150 | €24,480 | €76,261 | -€101,194 | -€127,413 | ▼ 25.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €272,369 | €296,776 | €381,569 | €246,073 | €206,466 | ▼ 16.1% |
| Fixed assets21/28 | €41,103 | €43,653 | €43,918 | €50,516 | €52,390 | ▲ 3.7% |
| Intangible fixed assets21 | €1,418 | €1,014 | €2,245 | €1,423 | €799 | ▼ 43.8% |
| Tangible fixed assets22/27 | €39,685 | €42,639 | €41,673 | €36,592 | €37,591 | ▲ 2.7% |
| Plant, machinery and equipment23 | €694 | €500 | €1,558 | €1,114 | €751 | ▼ 32.6% |
| Furniture and vehicles24 | €4,279 | €2,139 | €2,124 | €1,385 | €6,643 | ▲ 380% |
| Other tangible fixed assets26 | €34,712 | €40,000 | €37,990 | €34,094 | €30,197 | ▼ 11.4% |
| Financial fixed assets28 | - | - | - | €12,500 | €14,000 | ▲ 12.0% |
| Current assets29/58 | €231,267 | €253,123 | €337,651 | €195,557 | €154,076 | ▼ 21.2% |
| Amounts receivable after more than one year29 | - | - | - | - | €18,000 | - |
| Other amounts receivable291 | - | - | - | - | €18,000 | - |
| Stocks and contracts in progress3 | €5,115 | €27,014 | €23,659 | €23,659 | €23,535 | ▼ 0.5% |
| Stocks30/36 | €5,115 | €27,014 | €23,659 | €23,659 | €23,535 | ▼ 0.5% |
| Amounts receivable within one year40/41 | €82,617 | €54,679 | €162,240 | €133,089 | €96,213 | ▼ 27.7% |
| Trade receivables40 | €65,141 | €25,000 | €162,240 | €100,666 | €96,000 | ▼ 4.6% |
| Other amounts receivable41 | €17,475 | €29,679 | - | €32,423 | €214 | ▼ 99.3% |
| Current investments50/53 | €97,911 | €99,383 | €99,809 | €9,680 | €540 | ▼ 94.4% |
| Cash at bank and in hand54/58 | €45,376 | €70,603 | €50,684 | €27,712 | €15,000 | ▼ 45.9% |
| Deferred charges and accrued income490/1 | €248 | €1,444 | €1,260 | €1,418 | €787 | ▼ 44.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €272,369 | €296,776 | €381,569 | €246,073 | €206,466 | ▼ 16.1% |
| Equity10/15 | €234,003 | €258,483 | €334,745 | €168,574 | €41,161 | ▼ 75.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €215,403 | €239,883 | €316,145 | €209,407 | €209,407 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €213,543 | €238,023 | €316,145 | €209,407 | €209,407 | = |
| Profit (loss) carried forward14 | - | - | - | -€59,433 | -€186,846 | ▼ 214% |
| Amounts payable17/49 | €38,366 | €38,293 | €46,824 | €77,499 | €165,304 | ▲ 113% |
| Amounts payable after more than one year17 | €1,875 | €1,601 | €1,749 | €22,762 | €70,236 | ▲ 209% |
| Other amounts payable178/9 | €1,875 | €1,601 | €1,749 | €22,762 | €70,236 | ▲ 209% |
| Amounts payable within one year42/48 | €36,491 | €30,698 | €31,833 | €44,044 | €95,068 | ▲ 116% |
| Trade debts44 | €23,202 | €23,937 | €867 | €5,137 | €81,773 | ▲ 1,492% |
| Suppliers440/4 | €23,202 | €23,937 | €867 | €5,137 | €81,773 | ▲ 1,492% |
| Taxes, remuneration and social security45 | €13,289 | €6,761 | €30,966 | €9,007 | €10,977 | ▲ 21.9% |
| Taxes450/3 | €13,289 | €6,761 | €30,966 | €8,298 | €9,523 | ▲ 14.8% |
| Remuneration and social security454/9 | - | - | - | €709 | €1,454 | ▲ 105% |
| Other amounts payable47/48 | - | - | - | €29,901 | €2,318 | ▼ 92.2% |
| Accrued charges and deferred income492/3 | - | €5,994 | €13,241 | €10,692 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,150 | €24,480 | €76,261 | -€101,194 | -€127,413 | ▼ 25.9% |
| + Depreciation and write-downs630 | €4,378 | €6,177 | €6,653 | €5,902 | €9,081 | ▲ 53.8% |
| Operating cash flow (approximation) | €57,528 | €30,657 | €82,915 | -€95,292 | -€118,332 | ▼ 24.2% |
| Investment in fixed assets (approximation) | - | -€8,727 | -€6,918 | -€12,500 | -€10,955 | ▲ 12.4% |
| Change in cash | - | €25,227 | -€19,919 | -€22,972 | -€12,712 | ▲ 44.7% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€127,413
Net result drops to -€127,413, the lowest in the series.
24-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €76,261 ▲212%
Operating result €107,530, net result €76,261, both a record.
03-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €200,000Eq €234,003 ▲29.4%
4 profitable years in a row build equity to €234,003.
12-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity times 5current ratio 23.16
Current ratio from 4.26 to 23.16; short-term debt falls from €35,510 to €7,491.
31-12
Financial
Equity above €150,000Eq €180,853 ▲44.3%
3 profitable years in a row build equity to €180,853.
04-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Equity above €100,000Eq €125,338 ▲33.1%
2 profitable years in a row build equity to €125,338.
22-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Gent · 1 establishment unit since 2011
Ground area
221 m²
Building footprint
115 m²
Volume, LiDAR
791 m³
Parcel 44804D2718/00K018, Flanders · tallest building 13.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
-
since 20112.207.744.348
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D2718/00K018 | Flanders | 221 m² | 1 · 115 m² | 13.9 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
98450059HD955C00B547
Similar companies · same sector, comparable size
YARDS
BE 0865.368.771
Merelbeke-Melle · Eq €39,867
Costhea
BE 0412.533.971
Brussel · Eq €38,003
Restorent
BE 0444.813.195
Wemmel · Eq €47,609
Loko Springkastelen
BE 1005.233.071
Balen · Eq €35,213
BURN
BE 0458.050.925
Sint-Truiden · Eq €32,868
Of 174 companies in sector 77224 we hold annual accounts for 41. 32 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-04-2011
Fiscal year end31-12
Activities, NACEBEL 2025
77224Rental and leasing activities
64210Activities of holding companies
70200Business and other management consultancy
73200Market research and public opinion polling
73300Public relations and communication consultancy
82100Office administrative and support services
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0835933132
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.