MANUS
ActiveSummary
MANUS has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €35k and a net result of €-5k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 44% of 2003 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability61▲+6
Solvency67▼-27
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity short (current ratio 0.92 against 2.06 in 2024; short-term debt: 37% and cash: 17.6% of total assets), and 57.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer 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
42.2%
Return on assets
-6.1%
Age of the figures
9 mo
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 €-5k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
29 d late
2024
56 d late
2023
56 d late
2022
71 d late
2021
30 d late
2020
31 d early
2019
42 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€35k▼ 36.7%
2024 · €55k
2018: €29k
2019: €34k▲ +20.4% vs 2018
2020: €18k▼ -48.1% vs 2019
2021: €7k▼ -61.3% vs 2020lowest in 8 years
2022: €61k▲ +791% vs 2021
2023: €63k▲ +3.3% vs 2022highest in 8 years
2024: €55k▼ -14.1% vs 2023
2025: €35k▼ -36.7% vs 2024
2018 → 2025
Total assets
€82k▲ 3.7%
2024 · €79k
2018: €35k
2019: €41k▲ +15.6% vs 2018
2020: €27k▼ -34.8% vs 2019lowest in 8 years
2021: €55k▲ +105% vs 2020
2022: €89k▲ +62.4% vs 2021highest in 8 years
2023: €86k▼ -3.2% vs 2022
2024: €79k▼ -7.8% vs 2023
2025: €82k▲ +3.7% vs 2024
2018 → 2025
Net result
€-5k▲ 44.1%
2024 · €-9k
2018: €12k
2019: €6k▼ -51.0% vs 2018
2020: €-17k▼ -384% vs 2019lowest in 8 years
2021: €-11k▲ +33.9% vs 2020
2022: €55k▲ +599% vs 2021highest in 8 years
2023: €2k▼ -96.3% vs 2022
2024: €-9k▼ -543% vs 2023
2025: €-5k▲ +44.1% vs 2024
2018 → 2025
Working capital
€-2k
2024 · €21k
2018: €20k
2019: €20k▲ +3.0% vs 2018
2020: €6k▼ -71.3% vs 2019
2021: €-35k▼ -699% vs 2020lowest in 8 years
2022: €20k▲ +157% vs 2021
2023: €28k▲ +40.2% vs 2022highest in 8 years
2024: €21k▼ -24.0% vs 2023
2025: €-2k▼ -111% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€7k-€61k▲ 791%€63k▲ 3.3%€55k▼ 14.1%€35k▼ 36.7%
2021: €7klowest in 5 years
2022: €61k▲ +791% vs 2021
2023: €63k▲ +3.3% vs 2022highest in 5 years
2024: €55k▼ -14.1% vs 2023
2025: €35k▼ -36.7% vs 2024
Operating result€-9k-€62k€8k▼ 86.9%€-8k€-3k▲ 59.2%
2021: €-9klowest in 5 years
2022: €62k▲ +755% vs 2021highest in 5 years
2023: €8k▼ -86.9% vs 2022
2024: €-8k▼ -200% vs 2023
2025: €-3k▲ +59.2% vs 2024
Net result€-11k-€55k€2k▼ 96.3%€-9k€-5k▲ 44.1%
2021: €-11klowest in 5 years
2022: €55k▲ +599% vs 2021highest in 5 years
2023: €2k▼ -96.3% vs 2022
2024: €-9k▼ -543% vs 2023
2025: €-5k▲ +44.1% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3k in 2025 against €8k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €82k
Fixed assets
€54k ▲ 43.5%
Current assets
€28k ▼ 32.5%
Equity and liabilities €82k
Equity
€35k ▼ 36.7%
Debt
€47k ▲ 93.7%
Debt's share of the balance-sheet total rises from 31.0% to 57.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€19k▲
2024 · €10k
Cash flow
€18k▲
2024 · €9k
Current ratio
0.92▼
2024 · 2.06
Debt to equity
1.37▲
2024 · 0.45
ROE
-14.5%▲
2024 · -16.4%
ROA
-6.1%▲
2024 · -11.4%
Interest coverage
14.38▲
2024 · 14.13
Debt ≤ 1 year
€30k▲
2024 · €20k
Debt > 1 year
€16k▲
2024 · €3k
Income taxes
€353▲
2024 · €164
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€79k€82k▲
Fixed assets21/28€38k€54k▲
Tangible fixed assets22/27€38k€54k▲
Plant, machinery and equipment23€4k€4k▼
Furniture and vehicles24€27k€47k▲
Other tangible fixed assets26€6k€4k▼
Current assets29/58€41k€28k▼
Amounts receivable within one year40/41€15k€7k▼
Trade receivables40€6k€641▼
Other amounts receivable41€9k€6k▼
Cash at bank and in hand54/58€25k€14k▼
Deferred charges and accrued income490/1€1k€6k▲
Equity and liabilities
Total equity and liabilities10/49€79k€82k▲
Equity10/15€55k€35k▼
Contributions10/11€6k€6k=
Reserves13€48k€28k▼
Distributable reserves133€48k€28k▼
Profit (loss) carried forward14€115€101▼
Amounts payable17/49€24k€47k▲
Amounts payable after more than one year17€3k€16k▲
Financial debts170/4€3k€16k▲
Amounts payable within one year42/48€20k€30k▲
Current portion of amounts payable after more than one year42€3k€7k▲
Trade debts44€15€451▲
Suppliers440/4€15€451▲
Taxes, remuneration and social security45€11k€7k▼
Taxes450/3€8k€7k▼
Remuneration and social security454/9€4k-
Other amounts payable47/48€6k€15k▲
Accrued charges and deferred income492/3€2k€880▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€23k▲
Other operating charges640/8€2k€3k▲
Non-recurring operating charges66A€89-
Gross operating margin9900€12k€22k▲
Operating profit (loss)9901€-8k€-3k▲
Financial income75/76B€15€0▼
Recurring financial income75€15€0▼
Financial charges65/66B€701€1k▲
Recurring financial charges65€701€1k▲
Profit (loss) for the period before taxes9903€-9k€-5k▲
Income taxes67/77€164€353▲
Profit (loss) for the period9904€-9k€-5k▲
Profit (loss) for the period to be appropriated9905€-9k€-5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-9k€-5k▲
Profit (loss) brought forward from the previous period14P€80€115▲
Transfer from equity791/2€9k€20k▲
Profit to be distributed694/7-€15k
Return on contributions (dividend)694-€15k
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €15k | €16k | €18k | €23k | ▲ 26.1% |
| Other operating charges640/8 | €874 | €1k | €3k | €2k | €3k | ▲ 26.5% |
| Non-recurring operating charges66A | €1k | - | - | €89 | - | - |
| Gross operating margin9900 | €2k | €78k | €27k | €12k | €22k | ▲ 83.0% |
| Operating profit (loss)9901 | €-9k | €62k | €8k | €-8k | €-3k | ▲ 59.2% |
| Financial income75/76B | €14 | €0 | €15 | €15 | €0 | ▼ 99.3% |
| Recurring financial income75 | €14 | €0 | €15 | €15 | €0 | ▼ 99.3% |
| Financial charges65/66B | €1k | €3k | €6k | €701 | €1k | ▲ 92.6% |
| Recurring financial charges65 | €1k | €3k | €6k | €701 | €1k | ▲ 92.6% |
| Profit (loss) for the period before taxes9903 | €-11k | €59k | €3k | €-9k | €-5k | ▲ 47.0% |
| Income taxes67/77 | €162 | €4k | €497 | €164 | €353 | ▲ 115% |
| Profit (loss) for the period9904 | €-11k | €55k | €2k | €-9k | €-5k | ▲ 44.1% |
| Profit (loss) for the period to be appropriated9905 | €-11k | €55k | €2k | €-9k | €-5k | ▲ 44.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €55k | €89k | €86k | €79k | €82k | ▲ 3.7% |
| Fixed assets21/28 | €42k | €43k | €42k | €38k | €54k | ▲ 43.5% |
| Intangible fixed assets21 | €888 | €550 | €212 | - | - | - |
| Tangible fixed assets22/27 | €41k | €42k | €42k | €38k | €54k | ▲ 43.5% |
| Plant, machinery and equipment23 | €7k | €10k | €6k | €4k | €4k | ▼ 18.6% |
| Furniture and vehicles24 | €26k | €23k | €27k | €27k | €47k | ▲ 70.6% |
| Other tangible fixed assets26 | €8k | €9k | €8k | €6k | €4k | ▼ 39.2% |
| Current assets29/58 | €13k | €46k | €43k | €41k | €28k | ▼ 32.5% |
| Amounts receivable within one year40/41 | €3k | €27k | €16k | €15k | €7k | ▼ 54.1% |
| Trade receivables40 | €2k | €21k | €3k | €6k | €641 | ▼ 89.6% |
| Other amounts receivable41 | €1k | €6k | €13k | €9k | €6k | ▼ 30.3% |
| Cash at bank and in hand54/58 | €7k | €19k | €21k | €25k | €14k | ▼ 41.4% |
| Deferred charges and accrued income490/1 | €2k | €705 | €6k | €1k | €6k | ▲ 343% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €55k | €89k | €86k | €79k | €82k | ▲ 3.7% |
| Equity10/15 | €7k | €61k | €63k | €55k | €35k | ▼ 36.7% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €28k | €55k | €57k | €48k | €28k | ▼ 41.5% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €26k | €53k | €57k | €48k | €28k | ▼ 41.5% |
| Profit (loss) carried forward14 | €-27k | €695 | €80 | €115 | €101 | ▼ 11.9% |
| Amounts payable17/49 | €48k | €27k | €22k | €24k | €47k | ▲ 93.7% |
| Amounts payable after more than one year17 | - | - | €5k | €3k | €16k | ▲ 477% |
| Financial debts170/4 | - | - | €5k | €3k | €16k | ▲ 477% |
| Amounts payable within one year42/48 | €48k | €26k | €15k | €20k | €30k | ▲ 51.0% |
| Current portion of amounts payable after more than one year42 | - | - | €3k | €3k | €7k | ▲ 175% |
| Trade debts44 | €6k | €4k | €64 | €15 | €451 | ▲ 2,920% |
| Suppliers440/4 | €6k | €4k | €64 | €15 | €451 | ▲ 2,920% |
| Advances received on contracts in progress46 | - | €1k | €792 | - | - | - |
| Taxes, remuneration and social security45 | €3k | €7k | €7k | €11k | €7k | ▼ 33.3% |
| Taxes450/3 | €3k | €7k | €7k | €8k | €7k | ▼ 2.1% |
| Remuneration and social security454/9 | - | - | €500 | €4k | - | - |
| Other amounts payable47/48 | €38k | €14k | €5k | €6k | €15k | ▲ 142% |
| Accrued charges and deferred income492/3 | - | €1k | €1k | €2k | €880 | ▼ 44.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-11k | €55k | €2k | €-9k | €-5k | ▲ 44.1% |
| + Depreciation and write-downs630 | €9k | €15k | €16k | €18k | €23k | ▲ 26.1% |
| Operating cash flow (approximation) | €-2k | €69k | €18k | €9k | €18k | ▲ 95.6% |
| Investment in fixed assets (approximation) | - | €-15k | €-16k | €-13k | €-39k | ▼ 192% |
| Change in cash | - | €11k | €2k | €3k | €-10k | ▼ 395% |
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
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 29 days late
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 56 days late
2024
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 56 days late
2023
10-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 71 days late
2022
31-12
Financial
Back to profitnet €55k
Net result €55k after 2 loss-making years.
31-12
Financial
Liquidity times 7current ratio 1.77
Current ratio from 0.27 to 1.77; short-term debt falls from €48k to €26k.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 42 days late
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Herselt · 2 establishment units since 2017
Ground area
1,961 m²
Building footprint
348 m²
Volume, LiDAR
1,935 m³
2 parcels, Flanders · tallest building 11.7 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
beHOUdt
since 20172.261.367.334
In't groene woud
since 20232.355.364.589
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13034K0314/00Z000 | Flanders | 1,052 m² | 1 · 165 m² | 9.0 m · 2 fl. |
| 72030A0512/00D000 | Flanders | 909 m² | 1 · 183 m² | 11.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,393 companies in sector 90393 we hold annual accounts for 939. 705 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
Founded06-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
90393Specialised image, lighting and sound technical services
43211General electrical installation work
55203Holiday cottages, homes and apartments
68203Renting and operating of own or leased non-residential real estate, excluding land
82100Office administrative and support services
Contact
Website
www.intgroenewoud.bePeer
E-mail
sofie@intgroenewoud.bePeer
Scores and ratios are computed by Checked and are not a credit decision.