Manwork
Open bankruptcyA bankruptcy procedure is open for Manwork according to publications in the Belgian State Gazette; curator: PIETER HUYGHE.
Summary
The 2022 annual accounts show negative equity (€-57k) and a net result of €-42k.
Signals
Two signals.
+raises risk
Checked, nothing found (1)
Financials · fiscal year 2022, micro schema
Turnover
€254k
EBIT margin
-16.3%
Net result
€-42k
2021 · €34k
2018: €-271
2019: €-296▼ -9.4% vs 2018
2020: €29k▲ +9814% vs 2019
2021: €34k▲ +18.0% vs 2020highest in 5 years
2022: €-42k▼ -225% vs 2021lowest in 5 years
2018 → 2022
Working capital
€-58k
2021 · €14k
2020: €4k
2021: €14k▲ +235% vs 2020highest in 3 years
2022: €-58k▼ -508% vs 2021lowest in 3 years
2020 → 2022
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€254k
Equity€-77k-€-77k▼ 0.4%€-48k▲ 37.3%€-14k▲ 70.2%€-57k▼ 294%
2018: €-77k
2019: €-77k▼ -0.4% vs 2018lowest in 5 years
2020: €-48k▲ +37.3% vs 2019
2021: €-14k▲ +70.2% vs 2020highest in 5 years
2022: €-57k▼ -294% vs 2021
Operating result€-271-€-296▼ 9.4%€44k€56k▲ 28.8%€-41k
2018: €-271
2019: €-296▼ -9.4% vs 2018
2020: €44k▲ +14873% vs 2019
2021: €56k▲ +28.8% vs 2020highest in 5 years
2022: €-41k▼ -173% vs 2021lowest in 5 years
Net result€-271-€-296▼ 9.4%€29k€34k▲ 18.0%€-42k
2018: €-271
2019: €-296▼ -9.4% vs 2018
2020: €29k▲ +9814% vs 2019
2021: €34k▲ +18.0% vs 2020highest in 5 years
2022: €-42k▼ -225% vs 2021lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2022: a loss of €41k after €56k in 2021, the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €43k
Fixed assets
€1k ▼ 61.8%
Current assets
€42k ▼ 51.3%
Key figures and ratios
EBITDA
€-41k▼
2021 · €58k
Cash flow
€-42k▼
2021 · €35k
Solvency
-131.3%▼
2021 · -16.1%
Current ratio
0.42▼
2021 · 1.20
Debt to equity
-1.76▲
2021 · -7.22
ROA
-98.0%▼
2021 · 37.9%
Interest coverage
-39.51▼
2021 · 15.20
Debt
€100k▼
2021 · €104k
Debt ≤ 1 year
€100k▲
2021 · €72k
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 · 2022 against 2021 · 49 lines
Balance sheet
Code20212022
Assets
Total assets20/58€90k€43k▼
Fixed assets21/28€4k€1k▼
Tangible fixed assets22/27€2k€1k▼
Plant, machinery and equipment23€1k€802▼
Furniture and vehicles24€415€643▲
Financial fixed assets28€2k-
Current assets29/58€86k€42k▼
Amounts receivable within one year40/41€14k€2k▼
Trade receivables40€13k€2k▼
Other amounts receivable41€379-
Cash at bank and in hand54/58€6k€20k▲
Deferred charges and accrued income490/1€66k€20k▼
Equity and liabilities
Total equity and liabilities10/49€90k€43k▼
Equity10/15€-14k€-57k▼
Contributions10/11€19k€19k=
Reserves13€6k€6k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€4k€4k=
Profit (loss) carried forward14€-39k€-81k▼
Amounts payable17/49€104k€100k▼
Amounts payable after more than one year17€33k-
Financial debts170/4€33k-
Amounts payable within one year42/48€72k€100k▲
Trade debts44€41k€55k▲
Suppliers440/4€41k€55k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€30k€30k▲
Taxes450/3€30k€30k▲
Other amounts payable47/48€238€15k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20212022
Turnover70-€254k
Goods, raw materials, services and sundry goods60/61-€296k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€585▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€722€3k▲
Non-recurring operating charges66A-€703
Gross operating margin9900€58k€-38k▼
Operating profit (loss)9901€56k€-41k▼
Financial income75/76B€0€2▲
Recurring financial income75€0€2▲
Financial charges65/66B€4k€1k▼
Recurring financial charges65€4k€1k▼
Profit (loss) for the period before taxes9903€53k€-42k▼
Income taxes67/77€19k-
Profit (loss) for the period9904€34k€-42k▼
Profit (loss) for the period to be appropriated9905€34k€-42k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-39k€-81k▼
Profit (loss) brought forward from the previous period14P€-73k€-39k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €254k | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €296k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €690 | €1k | €585 | ▼ 50.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - |
| Other operating charges640/8 | - | - | - | €722 | €3k | ▲ 258% |
| Non-recurring operating charges66A | - | - | - | - | €703 | - |
| Gross operating margin9900 | €-271 | €-296 | €59k | €58k | €-38k | ▼ 164% |
| Operating profit (loss)9901 | €-271 | €-296 | €44k | €56k | €-41k | ▼ 173% |
| Financial income75/76B | - | - | - | €0 | €2 | - |
| Recurring financial income75 | - | - | €61 | €0 | €2 | - |
| Financial charges65/66B | - | - | - | €4k | €1k | ▼ 72.7% |
| Recurring financial charges65 | - | - | €8 | €4k | €1k | ▼ 72.7% |
| Profit (loss) for the period before taxes9903 | €-271 | €-296 | €44k | €53k | €-42k | ▼ 181% |
| Income taxes67/77 | - | - | €15k | €19k | - | - |
| Profit (loss) for the period9904 | €-271 | €-296 | €29k | €34k | €-42k | ▼ 225% |
| Profit (loss) for the period to be appropriated9905 | €-271 | €-296 | €29k | €34k | €-42k | ▼ 225% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | - | - | €43k | €90k | €43k | ▼ 51.7% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | - | - | €5k | €4k | €1k | ▼ 61.8% |
| Tangible fixed assets22/27 | - | - | €3k | €2k | €1k | ▼ 12.6% |
| Plant, machinery and equipment23 | - | - | - | €1k | €802 | ▼ 35.2% |
| Furniture and vehicles24 | - | - | - | €415 | €643 | ▲ 54.9% |
| Financial fixed assets28 | - | - | €2k | €2k | - | - |
| Current assets29/58 | - | - | €38k | €86k | €42k | ▼ 51.3% |
| Amounts receivable within one year40/41 | - | - | €18k | €14k | €2k | ▼ 87.5% |
| Trade receivables40 | - | - | - | €13k | €2k | ▼ 87.1% |
| Other amounts receivable41 | - | - | - | €379 | - | - |
| Cash at bank and in hand54/58 | - | - | €8k | €6k | €20k | ▲ 217% |
| Deferred charges and accrued income490/1 | - | - | - | €66k | €20k | ▼ 69.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0 | - | €43k | €90k | €43k | ▼ 51.7% |
| Equity10/15 | €-77k | €-77k | €-48k | €-14k | €-57k | ▼ 294% |
| Contributions10/11 | €19k | €19k | - | €19k | €19k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | - | - | - | €2k | €2k | = |
| Reserves not available under the articles1311 | - | - | - | €2k | €2k | = |
| Distributable reserves133 | - | - | - | €4k | €4k | = |
| Profit (loss) carried forward14 | €-101k | €-102k | €-73k | €-39k | €-81k | ▼ 109% |
| Amounts payable17/49 | €77k | €77k | €91k | €104k | €100k | ▼ 3.8% |
| Amounts payable after more than one year17 | €60k | €77k | €48k | €33k | - | - |
| Financial debts170/4 | - | - | - | €33k | - | - |
| Amounts payable within one year42/48 | €17k | €0 | €34k | €72k | €100k | ▲ 39.9% |
| Trade debts44 | - | - | €14k | €41k | €55k | ▲ 33.2% |
| Suppliers440/4 | - | - | - | €41k | €55k | ▲ 33.2% |
| Advances received on contracts in progress46 | - | - | - | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €30k | €30k | ▲ 1.2% |
| Taxes450/3 | - | - | - | €30k | €30k | ▲ 1.2% |
| Other amounts payable47/48 | - | - | - | €238 | €15k | ▲ 6,060% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-271 | €-296 | €29k | €34k | €-42k | ▼ 225% |
| + Depreciation and write-downs630 | - | - | €690 | €1k | €585 | ▼ 50.0% |
| Operating cash flow (approximation) | €-271 | €-296 | €29k | €35k | €-42k | ▼ 219% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €2k | - |
| Change in cash | - | - | - | €-1k | €14k | ▲ 1,120% |
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
2023
27-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 19-12-2023
20-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 142 days late
2022
31-12
Financial
Weakest financial yearnet €-42k
Net result drops to €-42k, the lowest in the series.
09-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €34k ▲18%
Operating result €56k, net result €34k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €29k
Net result €29k after 2 loss-making years.
10-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 71 days late
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 8 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
2015
11-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 11 days late
2014
07-07
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
SignalFinancial 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, Evergem · 1 establishment unit since 1996
Ground area
129 m²
Building footprint
164 m²
Volume, LiDAR
964 m³
Parcel 43006F0176/00F000, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Manwork BV
since 19962.075.715.173
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43006F0176/00F000 | Flanders | 129 m² | 1 · 164 m² | 9.3 m · 2 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PIETER HUYGHE SAVAANSTRAAT 72, 9000 GENT- |
19-12-2023 → present |
Similar companies · same sector, comparable size
CK CONSTRUCTION
BE 0778.747.078
Estinnes · Eq €17,633
ATL SERVICES
BE 0699.813.626
Dilbeek · Eq €17,617
Royens Bouwonderneming
BE 0732.763.734
Beerse · Eq €17,616
RBL CONCEPT
BE 1007.440.218
Asse · Eq €17,615
Villa2
BE 0756.475.878
Mont-Saint-Guibert · Eq €17,612
Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 11,204 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
Founded28-02-1996
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
Scores and ratios are computed by Checked and are not a credit decision.