MANUS
ActiveSummary
MANUS has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.7m and a net result of €161,378. Equity is growing by ~17.8% per year across the filed fiscal years. Its solvency ranks better than 28% of 6545 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability76▲+4
Solvency40▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.25 against 0.39 in 2023; short-term debt: 25.5% and cash: 1.6% of total assets), and 85% 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
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
15%
Return on assets
1.4%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-11-2025, 120 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
120 d late
2023
9 d early
2022
41 d early
2021
19 d early
2020
51 d early
2019
53 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 9 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, full schema
In the rankings
#3 employer in Brasschaat, Wholesale and retail trade sector#9 company by total assets in Brasschaat, Wholesale and retail trade sector
Turnover
€8.0m
EBIT margin
6.0%
Net result
€161,378▼ 47.5%
2023 · €307,639
Working capital
-€2.1m▼ 103%
2023 · -€1.1m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€8.0m
Operating result€0.9m▲ 27.5%€1.0m▲ 21.3%€0.6m▼ 39.9%€0.6m▼ 0.9%€0.5m▼ 22.2%
Net result€0.3mabove the sector's middle half▲ 147%€0.4mabove the sector's middle half▲ 29.4%€0.07mabove the sector's middle half▼ 79.9%€0.3mabove the sector's middle half▲ 318%€0.2mabove the sector's middle half▼ 47.5%
EBIT margin6.0%
Equity€0.8mabove the sector's middle half▲ 50.4%€1.2mabove the sector's middle half▲ 43.4%€1.3mabove the sector's middle half▲ 6.1%€1.5mabove the sector's middle half▲ 18.9%€1.7mabove the sector's middle half▲ 10.6%
Total assets€4.6mabove the sector's middle half▲ 52.0%€4.9mabove the sector's middle half▲ 6.8%€6.1mabove the sector's middle half▲ 23.2%€8.6mabove the sector's middle half▲ 41.5%€11.2mabove the sector's middle half▲ 30.8%
Debt€3.8m▲ 52.3%€3.7m▼ 1.4%€4.8m▲ 28.8%€7.1m▲ 47.5%€9.5m▲ 35.1%
Working capital-€0.1mbelow the sector's middle half▲ 67.9%€0.04mwithin the sector's middle half-€103within the sector's middle half-€1.1mbelow the sector's middle half▼ 1,031,959%-€2.1mbelow the sector's middle half▼ 103%
Solvency18.3%within the sector's middle half▼ 0.2pp24.6%within the sector's middle half▲ 6.3pp21.1%within the sector's middle half▼ 3.4pp17.8%within the sector's middle half▼ 3.4pp15.0%within the sector's middle half▼ 2.7pp
Current ratio0.84below the sector's middle half▲ 0.331.04below the sector's middle half▲ 0.201.00within the sector's middle half▼ 0.040.39below the sector's middle half▼ 0.610.25below the sector's middle half▼ 0.14
Return on assets (ROA)6.1%within the sector's middle half▲ 2.4pp7.4%within the sector's middle half▲ 1.3pp1.2%within the sector's middle half▼ 6.2pp3.6%within the sector's middle half▲ 2.4pp1.4%within the sector's middle half▼ 2.1pp
Staff (FTE)51.2above the sector's middle half50.9above the sector's middle half▼ 0.6%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2023 Net result +318% on 2022. The accounts now follow the abbreviated schema, last year the micro schema.
- 2022 Net result -80% on 2021. The accounts now follow the micro schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 22% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €11.2m
Fixed assets
€10.5m ▲ 33.0%
Current assets
€712,525 ▲ 5.1%
Equity and liabilities €11.2m
Equity
€1.7m ▲ 10.6%
Debt
€9.5m ▲ 35.1%
Debt's share of the balance-sheet total rises from 82.2% to 85.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.3m▲
2023 · €1.2m
Cash flow
€1.0m▲
2023 · €849,154
Quick ratio
0.17▼
2023 · 0.34
Debt to equity
5.65▲
2023 · 4.63
ROE
9.6%▼
2023 · 20.2%
Interest coverage
6.36▲
2023 · 5.80
Debt ≤ 1 year
€2.9m▲
2023 · €1.7m
Debt > 1 year
€6.5m▲
2023 · €5.3m
Income taxes
€77,777▼
2023 · €121,921
Staff costs
€2.9m▲
2023 · €2.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 733 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.0%
went bankrupt
1.4%
stopped otherwise
97%
still going
A further 0.3% 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 497,341 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% | 1.8% |
| 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% 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 733 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €8.2m | - |
| Turnover70 | - | - | - | - | €8.0m | - |
| Other operating income74 | - | - | - | - | €0.2m | - |
| Non-recurring operating income76A | - | €0.007m | - | €0.01m | - | - |
| Operating charges60/66A | - | - | - | - | €7.7m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €1.6m | - |
| Purchases600/8 | - | - | - | - | €1.8m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | -€0.1m | - |
| Services and other goods61 | - | - | - | - | €2.3m | - |
| Remuneration, social security and pensions62 | - | €2.1m | €2.3m | €2.7m | €2.9m | ▲ 8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.8m | €0.7m | €0.6m | €0.5m | €0.9m | ▲ 58.5% |
| Other operating charges640/8 | - | €0.03m | €0.04m | €0.03m | €0.06m | ▲ 76.9% |
| Non-recurring operating charges66A | - | - | - | €0.003m | - | - |
| Gross operating margin9900 | €3.7m | €3.9m | €3.5m | €3.9m | - | - |
| Operating profit (loss)9901 | €0.9m | €1.0m | €0.6m | €0.6m | €0.5m | ▼ 22.2% |
| Financial income75/76B | - | €0.008m | €0.03m | €0.01m | €0.001m | ▼ 94.5% |
| Recurring financial income75 | €37 | €0.008m | €0.004m | €0.01m | €0.001m | ▼ 94.5% |
| Other financial income752/9 | - | - | - | - | €0.001m | - |
| Non-recurring financial income76B | - | - | €0.02m | - | - | - |
| Financial charges65/66B | - | €0.5m | €0.6m | €0.2m | €0.2m | ▲ 21.0% |
| Recurring financial charges65 | €0.5m | €0.5m | €0.6m | €0.2m | €0.2m | ▲ 21.0% |
| Debt charges650 | - | - | - | - | €0.2m | - |
| Other financial charges652/9 | - | - | - | - | €0.03m | - |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.5m | €0.1m | €0.4m | €0.2m | ▼ 44.3% |
| Income taxes67/77 | €0.09m | €0.1m | €0.02m | €0.1m | €0.08m | ▼ 36.2% |
| Taxes670/3 | - | - | - | - | €0.08m | - |
| Profit (loss) for the period9904 | €0.3m | €0.4m | €0.07m | €0.3m | €0.2m | ▼ 47.5% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.4m | €0.07m | €0.3m | €0.2m | ▼ 47.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.6m | €4.9m | €6.1m | €8.6m | €11.2m | ▲ 30.8% |
| Fixed assets21/28 | €3.9m | €4.0m | €5.0m | €7.9m | €10.5m | ▲ 33.0% |
| Tangible fixed assets22/27 | €3.9m | €4.0m | €5.0m | €7.9m | €10.5m | ▲ 33.0% |
| Land and buildings22 | - | €3.0m | €4.0m | €6.2m | €8.7m | ▲ 39.2% |
| Plant, machinery and equipment23 | - | €1.0m | €1.0m | €1.5m | €1.7m | ▲ 12.9% |
| Furniture and vehicles24 | - | €0.05m | €0.06m | €0.2m | €0.2m | ▼ 12.6% |
| Financial fixed assets28 | €0.003m | €0.005m | €0.005m | €0.005m | €0.003m | ▼ 36.7% |
| Other financial fixed assets284/8 | - | - | - | - | €0.003m | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €0.003m | - |
| Current assets29/58 | €0.7m | €0.9m | €1.0m | €0.7m | €0.7m | ▲ 5.1% |
| Stocks and contracts in progress3 | €0.02m | €0.02m | €0.04m | €0.09m | €0.2m | ▲ 150% |
| Stocks30/36 | - | €0.02m | €0.04m | €0.09m | €0.2m | ▲ 150% |
| Raw materials and consumables30/31 | - | - | - | - | €0.2m | - |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 2.7% |
| Trade receivables40 | - | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 7.1% |
| Other amounts receivable41 | - | €0.001m | €0.05m | €0.07m | €0.08m | ▲ 8.5% |
| Cash at bank and in hand54/58 | €0.4m | €0.6m | €0.6m | €0.3m | €0.2m | ▼ 44.8% |
| Deferred charges and accrued income490/1 | - | €0.1m | €0.2m | €0.001m | €0.05m | ▲ 6,232% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.6m | €4.9m | €6.1m | €8.6m | €11.2m | ▲ 30.8% |
| Equity10/15 | €0.8m | €1.2m | €1.3m | €1.5m | €1.7m | ▲ 10.6% |
| Contributions10/11 | €0.006m | €0.009m | €0.009m | €0.009m | €0.009m | = |
| Outside capital11 | - | €0.009m | - | - | - | - |
| Other1109/19 | - | €0.009m | - | - | - | - |
| Reserves13 | €0.8m | €1.1m | €1.3m | €1.5m | €1.7m | ▲ 10.6% |
| Non-distributable reserves130/1 | - | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | €0.002m | €0.002m | - | - | - |
| Distributable reserves133 | - | €1.1m | €1.3m | €1.5m | €1.7m | ▲ 10.6% |
| Profit (loss) carried forward14 | €0.003m | €0.07m | - | - | - | - |
| Amounts payable17/49 | €3.8m | €3.7m | €4.8m | €7.1m | €9.5m | ▲ 35.1% |
| Amounts payable after more than one year17 | €2.9m | €2.8m | €3.7m | €5.3m | €6.5m | ▲ 23.4% |
| Financial debts170/4 | - | €2.8m | €3.7m | €5.3m | €6.5m | ▲ 23.3% |
| Credit institutions173 | - | - | - | - | €6.5m | - |
| Other amounts payable178/9 | - | - | - | - | €0.003m | - |
| Amounts payable within one year42/48 | €0.9m | €0.9m | €1.0m | €1.7m | €2.9m | ▲ 64.5% |
| Current portion of amounts payable after more than one year42 | - | €0.4m | €0.6m | €0.6m | €0.9m | ▲ 56.1% |
| Financial debts43 | - | - | - | €0.1m | €0.4m | ▲ 304% |
| Credit institutions430/8 | - | - | - | €0.1m | €0.4m | ▲ 304% |
| Trade debts44 | €0.1m | €0.2m | €0.3m | €0.7m | €1.0m | ▲ 36.7% |
| Suppliers440/4 | - | €0.2m | €0.3m | €0.7m | €1.0m | ▲ 36.7% |
| Advances received on contracts in progress46 | - | - | - | €0.002m | €0.01m | ▲ 437% |
| Taxes, remuneration and social security45 | - | €0.3m | €0.2m | €0.3m | €0.3m | ▲ 16.2% |
| Taxes450/3 | - | €0.2m | €0.2m | €0.009m | €0.02m | ▲ 81.6% |
| Remuneration and social security454/9 | - | €0.09m | - | €0.3m | €0.3m | ▲ 14.2% |
| Other amounts payable47/48 | - | - | - | €0.07m | €0.3m | ▲ 304% |
| Accrued charges and deferred income492/3 | - | - | €0.03m | €0.02m | €0.1m | ▲ 504% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.4m | €0.07m | €0.3m | €0.2m | ▼ 47.5% |
| + Depreciation and write-downs630 | €0.8m | €0.7m | €0.6m | €0.5m | €0.9m | ▲ 58.5% |
| Operating cash flow (approximation) | €1.0m | €1.1m | €0.6m | €0.8m | €1.0m | ▲ 20.1% |
| Investment in fixed assets (approximation) | - | -€0.8m | -€1.6m | -€3.4m | -€3.5m | ▼ 1.7% |
| Change in cash | - | €0.1m | -€0.007m | -€0.2m | -€0.1m | ▲ 40.9% |
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
2025
28-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 120 days late
2024
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €365,719 ▲29.4%
Operating result €1.0m, net result €365,719, both a record.
31-12
Financial
Equity above €1mEq €1.2m ▲43.4%
3 profitable years in a row build equity to €1.2m.
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €114,288
Net result €114,288 after one loss-making year.
31-12
Financial
Equity above €500,000Eq €560,715 ▲25.6%
Equity rises from €446,427 to €560,715.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
03-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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.
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Directors · office · real estate
Directors
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brasschaat · 3 establishment units since 1999
Ground area
1,086 m²
Building footprint
12 m²
Volume, LiDAR
48 m³
3 parcels, Flanders · tallest building 8.4 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
3 establishment units
MANUS
since 1999unit no. 2.101.919.130
Dorpsstraat 78, 2950 Kapellen
since 2002unit no. 2.180.392.922
Manus
since 2024unit no. 2.358.373.371
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11324D0159/00W004 | Flanders | 668 m² | - | - |
| 11044E0375/00A000indicative | Flanders | 254 m² | - | - |
| 11902E0268/00G000 | Flanders | 163 m² | 1 · 12 m² | 8.4 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €7,874 awarded · €7,874 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | €647 | €941 |
| 2024 | 1 | €970 | €872 |
| 2023 | 1 | €5,102 | €4,906 |
| 2022 | 2 | €1,155 | €1,155 |
Recognitions · licences · registrations
Food safety, FASFC
3 sites · 2 with a smileyKapellen (Antw.)unit no. 2.180.392.922
Stabroekunit no. 2.358.373.371
Brasschaatunit no. 2.101.919.130
Dual-learning approval
4 endedBrood- en banketbakker (so)
Brood- en banketbakkerij duaal (so)
Medewerker (banket)bakkerij duaal (so)
Medewerker bakkerij (vwo)
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Of 2,404 companies in this sector we hold annual accounts for 1,102. 265 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded17-11-1999
Fiscal year end31-12
Activities, NACEBEL 2025
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0467287503
Also
9925:BE0467287503
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.