MENATAM
ActiveSummary
The computed 12-month bankruptcy probability of MENATAM is 8.8% (elevated). The 2021 annual accounts show equity of €19.8m and a net result of €6.4m. Equity is growing by ~16.9% per year across the filed fiscal years. The company has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2021 are too old to assess current financial health.
Bankruptcy probability: Elevated
Axes, FY 2021 · tick = 2020
Profitability70▲+2
Solvency53▲+4
Growth70▲+6
Track record100
Bankruptcy probability, 12 months
8.8%
Elevated
0%0.5%1.5%4%10%≥ 25%
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Signals
Seven 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2021Solvency, return and age of the figures
Solvency
28.2%
Return on assets
9%
Age of the figures
57 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
17 d early
2024
9 d early
2023
21 d early
2022
21 d early
2021
12 d early
2020
22 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 17 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2021, full schema, statutory accounts
Turnover
€141.8m▲ 17.6%
2020 · €120.5m
EBIT margin
5.2%▲ 0.4pp
2020 · 4.9%
Net result
€6.4m▲ 32.0%
2020 · €4.8m
Working capital
€8.9m▲ 18.7%
2020 · €7.5m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Turnover€118.4m-€125.5m▲ 6.0%€120.5m▼ 4.0%€141.8m▲ 17.6%
Operating result€5.6m-€8.2m▲ 46.3%€5.8m▼ 28.5%€7.4m▲ 26.3%
Net result€4.5m-€5.6m▲ 24.9%€4.8m▼ 14.5%€6.4m▲ 32.0%
EBIT margin4.7%-6.5%▲ 1.8pp4.9%▼ 1.7pp5.2%▲ 0.4pp
Equity€11.8m-€14.7m▲ 23.9%€16.5m▲ 12.4%€19.8m▲ 20.3%
Total assets€51.5m-€57.8m▲ 12.1%€67.6m▲ 16.9%€70.3m▲ 4.0%
Debt€37.6m-€40.9m▲ 8.7%€48.9m▲ 19.6%€47.8m▼ 2.2%
Working capital€1.2m-€7.6m▲ 517%€7.5m▼ 1.4%€8.9m▲ 18.7%
Staff (FTE)279.2-290.3▲ 4.0%302.7▲ 4.3%311.1▲ 2.8%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2021; 2021 is 26% above 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €70.3m
Fixed assets
€16.3m ▲ 9.7%
Current assets
€53.9m ▲ 3.7%
Equity and liabilities €70.3m
Equity
€19.8m ▲ 20.3%
Provisions
€2.6m ▲ 19.7%
Debt
€47.8m ▼ 2.2%
Debt's share of the balance-sheet total falls from 72.3% to 68.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€10.5m▲
2020 · €9.0m
Cash flow
€9.4m▲
2020 · €8.0m
Current ratio
1.20▲
2020 · 1.17
Quick ratio
1.06▲
2020 · 1.04
Debt to equity
2.41▲
2020 · 0.24
ROE
32.0%▲
2020 · 29.2%
ROA
9.0%▲
2020 · 7.1%
Interest coverage
70.72▲
2020 · 48.61
Debt ≤ 1 year
€45.0m▲
2020 · €44.5m
Debt > 1 year
€2.7m▼
2020 · €3.9m
Income taxes
€2.4m▲
2020 · €2.1m
Staff costs
€18.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €142.5m | - |
| Turnover70 | €118.4m | €125.5m | €120.5m | €141.8m | ▲ 17.6% |
| Other operating income74 | - | - | - | €685,052 | - |
| Non-recurring operating income76A | - | - | - | €1,736 | - |
| Operating charges60/66A | - | - | - | €135.1m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €78.0m | - |
| Purchases600/8 | - | - | - | €79.1m | - |
| Change in stocks: decrease (increase)609 | - | - | - | -€1.1m | - |
| Services and other goods61 | - | - | - | €34.4m | - |
| Remuneration, social security and pensions62 | - | - | - | €18.9m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2.7m | €2.9m | €3.2m | €3.1m | ▼ 2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€375,026 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €434,086 | - |
| Other operating charges640/8 | - | - | - | €513,584 | - |
| Non-recurring operating charges66A | - | - | - | €112,411 | - |
| Operating profit (loss)9901 | €5.6m | €8.2m | €5.8m | €7.4m | ▲ 26.3% |
| Financial income75/76B | - | - | - | €1.6m | - |
| Recurring financial income75 | €1.4m | €1.7m | €1.5m | €1.6m | ▲ 8.3% |
| Income from financial fixed assets750 | - | - | - | €9,881 | - |
| Income from current assets751 | - | - | - | €34 | - |
| Other financial income752/9 | - | - | - | €1.6m | - |
| Financial charges65/66B | - | - | - | €233,376 | - |
| Recurring financial charges65 | €227,833 | €788,260 | €453,651 | €233,376 | ▼ 48.6% |
| Debt charges650 | €177,343 | €156,526 | €185,535 | €147,984 | ▼ 20.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | €21,500 | - |
| Other financial charges652/9 | - | - | - | €63,893 | - |
| Profit (loss) for the period before taxes9903 | €6.8m | €8.2m | €6.9m | €8.7m | ▲ 27.4% |
| Income taxes67/77 | €2.3m | €2.5m | €2.1m | €2.4m | ▲ 15.7% |
| Taxes670/3 | - | - | - | €2.4m | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €43,897 | - |
| Profit (loss) for the period9904 | €4.5m | €5.6m | €4.8m | €6.4m | ▲ 32.0% |
| Transfer to tax-exempt reserves689 | - | - | - | €421,000 | - |
| Profit (loss) for the period to be appropriated9905 | €4.5m | €4.7m | €3.5m | €5.9m | ▲ 67.2% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €51.5m | €57.8m | €67.6m | €70.3m | ▲ 4.0% |
| Formation expenses20 | €2.4m | €1.5m | €645,112 | - | - |
| Fixed assets21/28 | €12.6m | €12.7m | €14.9m | €16.3m | ▲ 9.7% |
| Intangible fixed assets21 | €561,010 | €999,808 | €928,565 | €1.7m | ▲ 85.2% |
| Tangible fixed assets22/27 | €5.6m | €6.6m | €6.0m | €6.1m | ▲ 2.5% |
| Plant, machinery and equipment23 | - | - | - | €5.3m | - |
| Furniture and vehicles24 | - | - | - | €818,497 | - |
| Financial fixed assets28 | €6.5m | €5.1m | €8.0m | €8.5m | ▲ 6.3% |
| Affiliated companies280/1 | - | - | - | €8.4m | - |
| Participating interests280 | - | - | - | €7.4m | - |
| Amounts receivable281 | - | - | - | €1.1m | - |
| Companies linked by participating interests282/3 | - | - | - | €10,000 | - |
| Participating interests282 | - | - | - | €10,000 | - |
| Other financial fixed assets284/8 | - | - | - | €22,571 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €22,571 | - |
| Current assets29/58 | €36.5m | €43.6m | €52.0m | €53.9m | ▲ 3.7% |
| Stocks and contracts in progress3 | €4.9m | €5.2m | €5.9m | €6.2m | ▲ 6.4% |
| Stocks30/36 | - | - | - | €6.2m | - |
| Goods purchased for resale34 | - | - | - | €6.2m | - |
| Amounts receivable within one year40/41 | €27.1m | €24.6m | €23.7m | €28.0m | ▲ 18.0% |
| Trade receivables40 | - | - | - | €25.9m | - |
| Other amounts receivable41 | - | - | - | €2.1m | - |
| Current investments50/53 | - | €1.0m | €800,000 | €600,000 | ▼ 25.0% |
| Other investments51/53 | - | - | - | €600,000 | - |
| Cash at bank and in hand54/58 | €3.6m | €11.9m | €21.0m | €18.0m | ▼ 14.3% |
| Deferred charges and accrued income490/1 | - | - | - | €1.1m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €51.5m | €57.8m | €67.6m | €70.3m | ▲ 4.0% |
| Equity10/15 | €11.8m | €14.7m | €16.5m | €19.8m | ▲ 20.3% |
| Contributions10/11 | €6.0m | €6.0m | €6.0m | €6.0m | = |
| Capital10 | - | - | - | €6.0m | - |
| Issued capital100 | - | - | - | €6.0m | - |
| Reserves13 | €1.7m | €2.5m | €3.8m | €4.2m | ▲ 11.0% |
| Non-distributable reserves130/1 | - | - | - | €600,330 | - |
| Legal reserve130 | - | - | - | €600,330 | - |
| Tax-exempt reserves132 | - | - | - | €2.6m | - |
| Distributable reserves133 | - | - | - | €1.1m | - |
| Profit (loss) carried forward14 | €4.2m | €6.1m | €6.7m | €9.6m | ▲ 43.9% |
| Provisions and deferred taxes16 | €2.1m | €2.2m | €2.2m | €2.6m | ▲ 19.7% |
| Provisions for liabilities and charges160/5 | - | - | - | €2.6m | - |
| Pensions and similar obligations160 | - | - | - | €33,664 | - |
| Other liabilities and charges164/5 | - | - | - | €2.5m | - |
| Deferred taxes168 | - | - | - | €59,444 | - |
| Amounts payable17/49 | €37.6m | €40.9m | €48.9m | €47.8m | ▼ 2.2% |
| Amounts payable after more than one year17 | €2.1m | €4.8m | €3.9m | €2.7m | ▼ 32.1% |
| Financial debts170/4 | - | - | - | €2.7m | - |
| Credit institutions173 | - | - | - | €2.7m | - |
| Amounts payable within one year42/48 | €35.3m | €36.0m | €44.5m | €45.0m | ▲ 1.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1.3m | - |
| Trade debts44 | €8.6m | €9.0m | €12.0m | €11.7m | ▼ 2.4% |
| Suppliers440/4 | - | - | - | €11.7m | - |
| Advances received on contracts in progress46 | - | - | - | €25.8m | - |
| Taxes, remuneration and social security45 | - | - | - | €3.1m | - |
| Taxes450/3 | - | - | - | €469,918 | - |
| Remuneration and social security454/9 | - | - | - | €2.7m | - |
| Other amounts payable47/48 | - | - | - | €3.1m | - |
| Accrued charges and deferred income492/3 | - | - | - | €113,417 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4.5m | €5.6m | €4.8m | €6.4m | ▲ 32.0% |
| + Depreciation and write-downs630 | €2.7m | €2.9m | €3.2m | €3.1m | ▼ 2.8% |
| Operating cash flow (approximation) | €7.2m | €8.5m | €8.0m | €9.4m | ▲ 18.1% |
| Investment in fixed assets (approximation) | - | -€2.9m | -€5.4m | -€4.5m | ▲ 16.4% |
| Change in cash | - | €8.3m | €9.1m | -€3.0m | ▼ 133% |
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
31-08
State Gazette act
Appointment: Baker Tilly Audit Comptabilité Conseil SRL (statutory auditor)Permanent representative: CHRISTOPHE HABETS · Profit allocation7 facts ▸
State Gazette act
Appointment: Baker Tilly Audit Comptabilité Conseil SRL (statutory auditor)
Permanent representative: CHRISTOPHE HABETS · Profit allocation7 facts ▸
- General meeting, 05-06-2026
- Other statement, ordre du jour
- Other statement, approbation des comptes, 31-12-2025
- Profit allocation, EUR, 698860
- Auditor appointment, Baker Tilly Audit Comptabilité Conseil SRL (statutory auditor)
- Permanent representative, CHRISTOPHE HABETS (permanent representative)
- Other statement, administrateurs et commissaire, unanimité
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €6.4m ▲32%
Net result €6.4m, the highest in the series.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 36 acts read
About the unread acts
Of the 36 Belgian State Gazette acts we know for this company, 1 has been read. The other 35 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
Baker Tilly Audit Comptabilité Conseil SRL
CurrentStatutory auditor · since 31-08-2026 · perm. rep.: CHRISTOPHE HABETS
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Namur · 54 establishment units since 1997
Ground area
92.0 ha
Building footprint
16.8 ha
Volume, LiDAR
424,502 m³
51 parcels, Brussels, Flanders, Wallonia · tallest building 47.2 m, ±5 floors. Linked by address, not a title deed.
54 establishment units
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51 parcels
Flanders
23
(45.1%)
Wallonia
26
(51%)
Brussels
2
(3.9%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52028B0245/00T000 | Wallonia | 49.9 ha | 1 · 8.8 ha | - |
| 81011C2315/00G000 | Wallonia | 9.1 ha | 1 · 401 m² | - |
| 12402B0825/00D000 | Flanders | 6.1 ha | - | - |
| 54007B0685/00D000 | Wallonia | 5.5 ha | 1 · 8,181 m² | - |
| 63079A1464/07E002indicative | Wallonia | 4.8 ha | 1 · 1.6 ha | 12.5 m · 2 fl. |
| 92120F0021/00L004 | Wallonia | 2.6 ha | 1 · 9,291 m² | 13.5 m · 4 fl. |
| 25782C0086/00H002 | Wallonia | 1.6 ha | 1 · 5,713 m² | 7.4 m · 2 fl. |
| 25772K0065/00F000 | Wallonia | 1.1 ha | 1 · 1,962 m² | 5.6 m · 2 fl. |
| 34352B0931/00F003 | Flanders | 1.0 ha | 1 · 4,079 m² | 10.8 m · 2 fl. |
| 44015A0328/00B000 | Flanders | 9,606 m² | 1 · 765 m² | 8.1 m · 2 fl. |
| 71483D0243/00W007 | Flanders | 7,971 m² | 1 · 2,482 m² | 47.1 m · 2 fl. |
| 92120F0018/00H002 | Wallonia | 6,454 m² | - | - |
| 24014C0126/00K002 | Flanders | 5,067 m² | 1 · 1,704 m² | 7.9 m |
| 55022A0355/00S008 | Wallonia | 5,026 m² | 1 · 2,238 m² | 5.9 m · 2 fl. |
| 92021A0042/00G000 | Wallonia | 4,477 m² | 1 · 78 m² | 9.3 m · 2 fl. |
| 64074B0010/00G000 | Wallonia | 3,953 m² | 1 · 1,915 m² | 7.5 m · 1 fl. |
| 92039A0109/00L000 | Wallonia | 3,488 m² | 1 · 1,791 m² | - |
| 44363B0495/00L005 | Flanders | 3,398 m² | 1 · 1,039 m² | 5.9 m · 2 fl. |
| 46445D1648/00E000 | Flanders | 3,176 m² | 1 · 933 m² | 8.8 m · 1 fl. |
| 57031C0090/00M000indicative | Wallonia | 2,966 m² | - | - |
| 23078A0267/00W000 | Flanders | 2,906 m² | 1 · 1,430 m² | 15.0 m · 3 fl. |
| 44062A0267/00X002 | Flanders | 2,864 m² | 1 · 1,635 m² | 13.3 m · 3 fl. |
| 36505C1151/00L002 | Flanders | 2,859 m² | 1 · 1,002 m² | 7.9 m · 2 fl. |
| 22001B0085/00C002 | Flanders | 2,610 m² | 1 · 804 m² | - |
| 55040A0486/00F000 | Wallonia | 2,470 m² | 1 · 835 m² | 8.7 m · 2 fl. |
| 71306G0048/00B005 | Flanders | 2,470 m² | - | - |
| 21002A0121/00V004 | Brussels | 2,342 m² | 1 · 2,451 m² | 15.4 m · 2 fl. |
| 44034D0891/00G003 | Flanders | 2,182 m² | 1 · 736 m² | 6.3 m |
| 35020A0272/00T000 | Flanders | 2,158 m² | 1 · 988 m² | 6.0 m · 2 fl. |
| 41304F0831/00G000 | Flanders | 2,122 m² | 1 · 1,006 m² | 6.4 m · 2 fl. |
| 42006E0171/00K002 | Flanders | 2,014 m² | 1 · 753 m² | 12.1 m · 2 fl. |
| 24514A0086/00P000 | Flanders | 1,995 m² | 1 · 858 m² | 8.2 m · 2 fl. |
| 92014C0901/00G002 | Wallonia | 1,825 m² | 1 · 252 m² | 11.3 m · 3 fl. |
| 93056D0116/00G002 | Wallonia | 1,552 m² | 1 · 829 m² | - |
| 45502A0460/00L000 | Flanders | 1,454 m² | 1 · 724 m² | 5.8 m · 2 fl. |
| 25744C0062/00C000 | Wallonia | 1,345 m² | 1 · 383 m² | - |
| 62087B0273/00B004 | Wallonia | 1,245 m² | 1 · 921 m² | 6.3 m · 2 fl. |
| 62048A0896/00Y000 | Wallonia | 1,239 m² | 1 · 2,071 m² | 6.7 m · 2 fl. |
| 53043A0400/00V000 | Wallonia | 1,238 m² | 1 · 558 m² | 7.0 m · 1 fl. |
| 13453O0904/00G011 | Flanders | 1,200 m² | - | - |
| 91013A1250/00E003 | Wallonia | 1,175 m² | - | - |
| 61061A0347/00D005 | Wallonia | 1,056 m² | 1 · 8 m² | - |
| 21392A0058/00N009 | Brussels | 1,016 m² | 1 · 421 m² | 16.9 m · 5 fl. |
| 91030B0318/00D002indicative | Wallonia | 986 m² | 1 · 107 m² | - |
| 62019B0189/00N000 | Wallonia | 984 m² | 1 · 1,305 m² | 7.6 m · 2 fl. |
| 51004A0168/00F003indicative | Wallonia | 806 m² | - | - |
| 31433D0117/00N000 | Flanders | 586 m² | 1 · 415 m² | 6.6 m · 2 fl. |
| 52014B0067/00L005 | Wallonia | 550 m² | 1 · 6 m² | 2.1 m · 1 fl. |
| 23077A0118/00Y082 | Flanders | 521 m² | - | - |
| 11372A0160/00R005 | Flanders | 509 m² | 1 · 123 m² | 13.7 m · 2 fl. |
| 11423B0233/00H002 | Flanders | 178 m² | 1 · 178 m² | 9.9 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
47 of 51 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| Baker Tilly Audit Comptabilité Conseil SRL |
|
Structure & network
Heads the group
MENATAM
2 companies
Group, risk and exposure
Owners and holdings
2 owners · 3 holdingsOwners 2
- 46.01%
- Sourceaccounts SOMATAM 202310%
Holdings 3
-
100%
-
100%
-
100%
According to the 2021 annual accounts of MENATAM and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 3,131 EUR awarded · 3,131 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,044 EUR | 1,044 EUR |
| 2023 | 1 | 2,087 EUR | 2,087 EUR |
Schemes
Recognitions · licences · registrations
Legal Entity Identifier
8755008JTLLHBO37KL66
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,134. 230 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded18-12-1980
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
47551Retail sale of household furniture
Contact
Phone
+3281432230Mouscron
E-mail
veronique.raddoux@eggo.beDendermonde
Phone
+3281432222Dendermonde
Phone
+3281714815Sint-Martens-Latem
E-invoicing
Reachable via Peppol
Peppol ID
0208:0421312867
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.