MANUMAR
ActiveSummary
MANUMAR has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €840,962 and a net result of €490,353, of which €393,268 non-recurring income. Equity is growing by about 16% per year across the filed financial years. Its solvency ranks better than 55% of 15,714 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €840,962
- Profit
- €490,353
Why 96lowers riskSize: total assets €1.4mSector: Legal and accounting activities (NACE 69)Figures for financial year 2025 (filed 15-12-2025)Founded in 1991Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 69, micro): better than 58% on solvency, 39% on liquidity, 82% on profitability and 90% on growth.
The bankruptcy probability was computed on 28-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 38 days before the deadline; the sector median (NACE 69) for financial year 2024 is 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2019 to 2025net €490,353 ▲251%
- Equity above €500,000equity €840,962 ▲101%
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has risen four years in a row; 2025 is over 3.4 times 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 69, Legal and accounting activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,445 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 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 74.5% 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 20,136 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,556 | - | €393,268 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,336 | €45,543 | €36,074 | €40,670 | €40,417 | €41,205 | €47,714 | ▲ 15.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | -€121,758 | - |
| Other operating charges640/8 | - | - | - | €9,654 | €5,109 | €9,067 | €6,263 | ▼ 30.9% |
| Non-recurring operating charges66A | - | - | - | - | €2,296 | - | - | - |
| Gross operating margin9900 | €109,360 | €108,637 | €139,819 | €162,571 | €178,094 | €262,992 | €662,161 | ▲ 152% |
| Operating profit (loss)9901 | €50,607 | €40,588 | €99,125 | €112,247 | €130,272 | €212,720 | €729,942 | ▲ 243% |
| Financial income75/76B | - | - | - | €40 | - | - | - | - |
| Recurring financial income75 | €1,579 | €170 | €469 | €40 | - | - | - | - |
| Financial charges65/66B | - | - | - | €9,364 | €8,039 | €9,421 | €6,986 | ▼ 25.8% |
| Recurring financial charges65 | €10,248 | €12,123 | €11,114 | €9,364 | €8,039 | €9,421 | €6,986 | ▼ 25.8% |
| Profit (loss) for the period before taxes9903 | €41,938 | €28,635 | €88,480 | €102,923 | €122,233 | €203,299 | €722,956 | ▲ 256% |
| Transfer from deferred taxes780 | - | - | - | €3,398 | €2,181 | €2,180 | €2,180 | = |
| Income taxes67/77 | €16,497 | €8,877 | €28,947 | €35,610 | €37,505 | €65,760 | €234,783 | ▲ 257% |
| Profit (loss) for the period9904 | €29,300 | €23,159 | €62,931 | €70,711 | €86,909 | €139,719 | €490,353 | ▲ 251% |
| Transfer from tax-exempt reserves789 | - | - | - | €16,987 | €6,542 | €6,542 | €6,541 | = |
| Profit (loss) for the period to be appropriated9905 | €36,795 | €29,764 | €69,530 | €87,698 | €93,451 | €146,261 | €496,894 | ▲ 240% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | €1.0m | €1.4m | ▲ 34.7% |
| Fixed assets21/28 | €0.5m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▲ 3.9% |
| Tangible fixed assets22/27 | €0.5m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▲ 3.9% |
| Land and buildings22 | - | - | - | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 5.9% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 63.4% |
| Furniture and vehicles24 | - | - | - | €493 | €246 | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.2m | €0.1m | €0.2m | €0.2m | ▲ 38.5% |
| Current assets29/58 | €0.3m | €0.1m | €0.1m | €0.09m | €0.2m | €0.2m | €0.6m | ▲ 137% |
| Amounts receivable within one year40/41 | €0.04m | €0.05m | €0.07m | €0.04m | €0.05m | €0.01m | €0.5m | ▲ 31× |
| Trade receivables40 | - | - | - | €0.04m | €0.04m | €0.01m | €0.02m | ▲ 44.0% |
| Other amounts receivable41 | - | - | - | - | €0.01m | - | €0.4m | - |
| Cash at bank and in hand54/58 | €0.2m | €0.08m | €0.06m | €0.05m | €0.1m | €0.2m | €0.1m | ▼ 53.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.003m | €0.003m | €0.003m | ▲ 4.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.9m | €0.9m | €0.9m | €0.9m | €1.0m | €1.4m | ▲ 34.7% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | €0.8m | ▲ 101% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.001m | €0.001m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.4m | €0.8m | ▲ 101% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - |
| Other1319 | - | - | - | €0.002m | €0.002m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 6.2% |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.3m | €0.7m | ▲ 137% |
| Provisions and deferred taxes16 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.05m | ▼ 69.4% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.1m | €0.1m | €0.1m | - | - |
| Pensions and similar obligations160 | - | - | - | €0.1m | €0.1m | €0.1m | - | - |
| Deferred taxes168 | - | - | - | €0.06m | €0.06m | €0.06m | €0.05m | ▼ 3.8% |
| Amounts payable17/49 | €0.4m | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 12.7% |
| Amounts payable after more than one year17 | €0.2m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 10.8% |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 10.8% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 51.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.05m | €0.04m | €0.05m | ▲ 13.2% |
| Trade debts44 | €0.02m | €0.007m | €0.03m | €0.01m | €0.01m | €0.006m | €0.02m | ▲ 172% |
| Suppliers440/4 | - | - | - | €0.01m | €0.01m | €0.006m | €0.02m | ▲ 172% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.03m | €0.05m | €0.08m | ▲ 52.8% |
| Taxes450/3 | - | - | - | €0.04m | €0.02m | €0.04m | €0.07m | ▲ 59.7% |
| Remuneration and social security454/9 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.04m | €0.06m | €0.09m | ▲ 69.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,300 | €23,159 | €62,931 | €70,711 | €86,909 | €139,719 | €490,353 | ▲ 251% |
| + Depreciation and write-downs630 | €54,336 | €45,543 | €36,074 | €40,670 | €40,417 | €41,205 | €47,714 | ▲ 15.8% |
| Operating cash flow (approximation) | €83,636 | €68,702 | €99,005 | €111,381 | €127,326 | €180,924 | €538,067 | ▲ 197% |
| Investment in fixed assets (approximation) | - | -€325,999 | -€48,413 | -€56,522 | -€4,448 | -€34,968 | -€77,906 | ▼ 123% |
| Change in cash | - | -€132,481 | -€18,627 | -€17,973 | €64,625 | €106,097 | -€115,979 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 15-12-2025 | 2025-00581568 |
| 30-06-2024 | micro format | 23-12-2024 | 2024-00625457 |
| 30-06-2023 | micro format | 28-12-2023 | 2023-00538202 |
| 30-06-2022 | micro format | 03-01-2023 | 2023-20553110 |
| 30-06-2021 | micro format | 20-12-2021 | 2021-80900162 |
| 30-06-2020 | micro format | 16-12-2020 | 2020-76200155 |
| 30-06-2019 | micro format | 02-01-2020 | 2020-00300124 |
| 30-06-2018 | micro format | 22-12-2018 | 2018-75800343 |
| 30-06-2017 | micro format | 05-01-2018 | 2018-00500541 |
| 30-06-2016 | abbreviated format | 28-12-2016 | 2016-71900132 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Stefaan Anthonis |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
01-03
Gazette deed
Appointment: Stefaan Anthonis (director)Amendment of the articles · Capital conversion · Kind of shares9 facts ▸
- General meeting, 04-12-2023
- Other provision, “toepasselijkheid WVV en van rechtswege BV-vorm, besloten vennootschap” (deed in Dutch)
- Amendment of the articles (2 times)
- Capital conversion, “inwerkingtreding WVV op 2020-01-01 van rechtswege zonder formaliteiten” (deed in Dutch)
- Capital conversion, “omvorming statutair onbeschikbare eigen vermogensrekeningen in beschikbare” (deed in Dutch)
- Kind of shares, “zelfde soort”, 750 (deed in Dutch)
- Director appointment, Stefaan Anthonis (director (not named in the articles))
- Declaration, “aanvaarding bestuursmandaat” (deed in Dutch)
- Power of attorney, Kris Ducatteeuw
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11039A0273/00M000 | Flanders | 2,916 m² | 1 · 220 m² | 14.2 m · 1 |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- MANUMAR
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “De besluiten van het college van bestuurders worden genomen bij volstrekte meerderheid van de uitgebrachte stemmen, waarbij geen rekening…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Een of meer bestuurders, enige aandeelhouder of een of meer personen,al dan niet aandeelhouder,met of zonder beperking in tijd,hetzij in…” (deed in Dutch)“Niet beperkt in de tijd, andersluidend besluit van algemene vergadering” (deed in Dutch)1 more provision on this in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- “De vergadering zal gehouden worden in de zetel van de vennootschap of op elke andere plaats aangeduid in de oproeping, de vijftiende dag van…” (deed in Dutch)