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MANNA

Active
Public limited companyfounded 199035 yrs activeKanaaldijk 6, 2900 Schoten, BelgiumKBO/BCE: BE 0443.046.015
Summary

MANNA has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.09M and a net result of €247k. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 65% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability77▼-1
Solvency82▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity short (current ratio 0.18 against 0.74 in 2024; short-term debt: 14.9% and cash: 1.3% of total assets), and 42.6% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 35 years 0 40 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
57.4%
Return on assets
6.8%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
21 d early
2024
15 d early
2023
30 d early
2022
4 d early
2021
6 d early
2020
17 d early
2019
33 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 months
Position in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€247k▼ 0.7%
2024 · €248k
2018: €-161klowest in 8 years 2019: €7k▲ +104% vs 2018 2020: €138k▲ +1903% vs 2019 2021: €100k▼ -27.8% vs 2020 2022: €110k▲ +9.8% vs 2021 2023: €93k▼ -15.1% vs 2022 2024: €248k▲ +167% vs 2023highest in 8 years 2025: €247k▼ -0.7% vs 2024
2018 → 2025
Working capital
€-445k▼ 465%
2024 · €-79k
2018: €500khighest in 8 years 2019: €338k▼ -32.5% vs 2018 2020: €396k▲ +17.1% vs 2019 2021: €412k▲ +4.2% vs 2020 2022: €487k▲ +18.1% vs 2021 2023: €142k▼ -70.8% vs 2022 2024: €-79k▼ -155% vs 2023 2025: €-445k▼ -465% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise ▼ fall
Line20212022202320242025Trend
Equity€1.39M-€1.50M▲ 7.9%€1.59M▲ 6.2%€1.84M▲ 15.6%€2.09M▲ 13.4% 2021: €1.39Mlowest in 5 years 2022: €1.50M▲ +7.9% vs 2021 2023: €1.59M▲ +6.2% vs 2022 2024: €1.84M▲ +15.6% vs 2023 2025: €2.09M▲ +13.4% vs 2024highest in 5 years
Operating result€155k-€169k▲ 9.3%€145k▼ 14.5%€350k▲ 142%€340k▼ 2.9% 2021: €155k 2022: €169k▲ +9.3% vs 2021 2023: €145k▼ -14.5% vs 2022lowest in 5 years 2024: €350k▲ +142% vs 2023highest in 5 years 2025: €340k▼ -2.9% vs 2024
Net result€100k-€110k▲ 9.8%€93k▼ 15.1%€248k▲ 167%€247k▼ 0.7% 2021: €100k 2022: €110k▲ +9.8% vs 2021 2023: €93k▼ -15.1% vs 2022lowest in 5 years 2024: €248k▲ +167% vs 2023highest in 5 years 2025: €247k▼ -0.7% vs 2024
Result per fiscal year
Operating resultNet result
€0€100k€200k€300k€400kOperating result 2021: €155k€155kNet result 2021: €100k€100kOperating result 2022: €169k€169kNet result 2022: €110k€110kOperating result 2023: €145k€145kNet result 2023: €93k€93kOperating result 2024: €350k€350kNet result 2024: €248k€248kOperating result 2025: €340k€340kNet result 2025: €247k€247k20212022202320242025€0€100k€200k€300k€400kOperating result 2023: €145k€145kNet result 2023: €93k€93kOperating result 2024: €350k€350kNet result 2024: €248k€248kOperating result 2025: €340k€340kNet result 2025: €247k€247k202320242025
The operating result falls in 2025; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.64M
Fixed assets €3.54M ▲ 14.2%
Current assets €96k ▼ 57.6%
Equity and liabilities €3.64M
Equity €2.09M ▲ 13.4%
Debt €1.55M ▲ 4.3%
Debt's share of the balance-sheet total falls from 44.7% to 42.6%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€479k▼
2024 · €489k
Cash flow
€385k▼
2024 · €387k
Current ratio
0.18▼
2024 · 0.74
Debt to equity
0.74▼
2024 · 0.81
ROE
11.8%▼
2024 · 13.5%
ROA
6.8%▼
2024 · 7.5%
Interest coverage
26.90▲
2024 · 26.02
Debt ≤ 1 year
€541k▲
2024 · €305k
Debt > 1 year
€1.00M▼
2024 · €1.17M
Income taxes
€82k▼
2024 · €83k
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 · 49 lines
Balance sheet Code20242025
Assets
Total assets20/58€3.33M€3.64M▲
Fixed assets21/28€3.10M€3.54M▲
Tangible fixed assets22/27€3.09M€3.54M▲
Land and buildings22€2.25M€2.12M▼
Assets under construction and advance payments27€839k€1.42M▲
Financial fixed assets28€5k-
Current assets29/58€227k€96k▼
Amounts receivable within one year40/41€183k€48k▼
Trade receivables40€1k€1k=
Other amounts receivable41€182k€47k▼
Cash at bank and in hand54/58€44k€48k▲
Equity and liabilities
Total equity and liabilities10/49€3.33M€3.64M▲
Equity10/15€1.84M€2.09M▲
Contributions10/11€370k€370k=
Capital10€370k€370k=
Issued capital100€370k€370k=
Reserves13€1.47M€1.72M▲
Non-distributable reserves130/1€37k€37k=
Legal reserve130€37k€37k=
Distributable reserves133€1.43M€1.68M▲
Amounts payable17/49€1.49M€1.55M▲
Amounts payable after more than one year17€1.17M€1.00M▼
Financial debts170/4€1.17M€1.00M▼
Other amounts payable178/9€2k€2k=
Amounts payable within one year42/48€305k€541k▲
Current portion of amounts payable after more than one year42€172k€172k=
Financial debts43€69k€24k▼
Credit institutions430/8€69k€24k▼
Trade debts44€63k€58k▼
Suppliers440/4€63k€58k▼
Taxes, remuneration and social security45€125€1k▲
Taxes450/3€125€1k▲
Other amounts payable47/48-€286k
Accrued charges and deferred income492/3€6k€6k=
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€138k€138k=
Other operating charges640/8€49k€50k▲
Gross operating margin9900€538k€529k▼
Operating profit (loss)9901€350k€340k▼
Financial income75/76B-€7k
Recurring financial income75-€7k
Financial charges65/66B€19k€18k▼
Recurring financial charges65€19k€18k▼
Profit (loss) for the period before taxes9903€331k€329k▼
Income taxes67/77€83k€82k▼
Profit (loss) for the period9904€248k€247k▼
Profit (loss) for the period to be appropriated9905€248k€247k▼
Appropriation of the result
Profit (loss) to be appropriated9906€248k€247k▼
Transfer to equity691/2€248k€247k▼
To other reserves6921€248k€247k▼

The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement
Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€138k€138k€138k€138k€138k=
Other operating charges640/8€41k€43k€47k€49k€50k▲ 3.1%
Gross operating margin9900€334k€350k€330k€538k€529k▼ 1.6%
Operating profit (loss)9901€155k€169k€145k€350k€340k▼ 2.9%
Financial income75/76B€566---€7k-
Recurring financial income75€566---€7k-
Financial charges65/66B€26k€23k€20k€19k€18k▼ 5.3%
Recurring financial charges65€26k€23k€20k€19k€18k▼ 5.3%
Profit (loss) for the period before taxes9903€129k€146k€124k€331k€329k▼ 0.8%
Income taxes67/77€29k€37k€31k€83k€82k▼ 1.1%
Profit (loss) for the period9904€100k€110k€93k€248k€247k▼ 0.7%
Profit (loss) for the period to be appropriated9905€100k€110k€93k€248k€247k▼ 0.7%
Line20212022202320242025Change
Assets
Total assets20/58€3.33M€3.22M€3.27M€3.33M€3.64M▲ 9.3%
Fixed assets21/28€2.67M€2.54M€2.80M€3.10M€3.54M▲ 14.2%
Tangible fixed assets22/27€2.67M€2.53M€2.80M€3.09M€3.54M▲ 14.4%
Land and buildings22€2.67M€2.53M€2.39M€2.25M€2.12M▼ 6.1%
Assets under construction and advance payments27--€404k€839k€1.42M▲ 69.5%
Financial fixed assets28€5k€5k€5k€5k--
Current assets29/58€652k€683k€467k€227k€96k▼ 57.6%
Amounts receivable within one year40/41€622k€641k€432k€183k€48k▼ 73.8%
Trade receivables40€558--€1k€1k=
Other amounts receivable41€622k€641k€432k€182k€47k▼ 74.2%
Cash at bank and in hand54/58€30k€42k€35k€44k€48k▲ 10.1%
Equity and liabilities
Total equity and liabilities10/49€3.33M€3.22M€3.27M€3.33M€3.64M▲ 9.3%
Equity10/15€1.39M€1.50M€1.59M€1.84M€2.09M▲ 13.4%
Contributions10/11€370k€370k€370k€370k€370k=
Capital10€370k€370k€370k€370k€370k=
Issued capital100€370k€370k€370k€370k€370k=
Reserves13€1.02M€1.13M€1.22M€1.47M€1.72M▲ 16.8%
Non-distributable reserves130/1€37k€37k€37k€37k€37k=
Legal reserve130€37k€37k€37k€37k€37k=
Distributable reserves133€981k€1.09M€1.18M€1.43M€1.68M▲ 17.2%
Amounts payable17/49€1.94M€1.72M€1.68M€1.49M€1.55M▲ 4.3%
Amounts payable after more than one year17€1.69M€1.52M€1.35M€1.17M€1.00M▼ 14.7%
Financial debts170/4€1.69M€1.52M€1.35M€1.17M€1.00M▼ 14.7%
Other amounts payable178/9€2k€2k€2k€2k€2k=
Amounts payable within one year42/48€240k€196k€325k€305k€541k▲ 77.2%
Current portion of amounts payable after more than one year42€223k€172k€172k€172k€172k=
Financial debts43€10k€10k€10k€69k€24k▼ 66.1%
Credit institutions430/8€10k€10k€10k€69k€24k▼ 66.1%
Trade debts44€7k€7k€135k€63k€58k▼ 8.6%
Suppliers440/4€7k€7k€135k€63k€58k▼ 8.6%
Taxes, remuneration and social security45-€7k€8k€125€1k▲ 867%
Taxes450/3-€7k€8k€125€1k▲ 867%
Other amounts payable47/48----€286k-
Accrued charges and deferred income492/3€7k€6k€6k€6k€6k=
Line20212022202320242025Change
Profit (loss) for the period9904€100k€110k€93k€248k€247k▼ 0.7%
+ Depreciation and write-downs630€138k€138k€138k€138k€138k=
Operating cash flow (approximation)€238k€248k€232k€387k€385k▼ 0.4%
Investment in fixed assets (approximation)-€0€-404k€-435k€-579k▼ 33.0%
Change in cash-€13k€-7k€9k€4k▼ 49.7%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
18-08
State Gazette act Restructuring
Demerger · Accounting effect · Capital decrease9 facts ▸
  • General meeting, 30-07-2026
  • Demerger, partielle splitsing door overneming
  • Accounting effect, 01-01-2026
  • Capital decrease, €6.699,89
  • Capital, €363.300,11
  • Power of attorney, Van Havermaet
  • Power of attorney, Van Havermaet
  • Share issue, vergoeding voor de inbreng in natura in het kader van de Partiële Splitsing, Enige Aandeelhoudster van Manna NV
  • Equity decrease, 37763.29, netto boekwaarde van het Afgesplitste Vermogen per 31 december 2025
10-07
NBB filing Annual accounts filed
fiscal year 2025 · full schema
23-06
State Gazette act Restructuring
Appointment: BV GRANT THORNTON BEDRIJFSREVISOREN (company auditor) · Demerger · Capital24 facts ▸
  • Board meeting, 11-06-2026
  • Demerger, partielle splitsing door overneming, EUR
  • Demerger, partielle splitsing door overneming, EUR
  • Capital, €375.000
  • Capital, €370.000
  • Share issue, 100, ter vergoeding voor de inbrengen
  • Accounting effect, 01-01-2026
  • Real estate, Een gebouw met grond en aanhorigheden gelegen aan de Bijkhoevelaan 24 +, Wijnegem, kadastraal gekend 1ste afdeling, sectie A, nummer 118/T (CaPaKey 11050A0118/0…
  • Real estate, Een gebouw met grond en aanhorigheden gelegen aan de Bijkhoevelaan 24, Wijnegem, kadastraal gekend 1ste afdeling, sectie A, nummer 60/C3 (CaPaKey 11050A0060/00C…
  • Real estate, Een gebouw met grond en aanhorigheden gelegen aan de Bijkhoevelaan 24+, Wijnegem, kadastraal gekend 1ste afdeling, sectie A, nummer 60/D3 (CaPaKey 11050A0060/00…
  • Real estate, Een gebouw met grond en aanhorigheden gelegen aan de Bijkhoevelaan 24, Wijnegem, kadastraal gekend 1ste afdeling, sectie A, nummer 60/C3 (CaPaKey 11050A0060/00C…
  • Capital decrease, €11.400,38
  • +12 further facts in this act
2025
31-12
Financial Equity above €2MEq €2.09M ▲13.4%
7 profitable years in a row build equity to €2.09M.
16-07
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial Highest result since 2018net €248k ▲167%
Operating result €350k, net result €248k, both a record.
01-07
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-07
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
14-07
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-09
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 33 days late
2019
31-12
Financial Back to profitnet €7k
Net result €7k after one loss-making year.
Show earlier events
16-07
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-07
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-07
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 14 acts read
About the unread acts

Of the 14 Belgian State Gazette acts we know for this company, 2 have been read. The other 12 have not 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
14 acts for this company are in the Belgian State Gazette, of which we have read 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Schoten · 1 establishment unit since 1991
seat establishment The establishment unit on the map
Ground area
7,742 m²
Building footprint
4,632 m²
Volume, LiDAR
33,630 m³
Parcel 11443C0537/00S000, Flanders · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
5 companies at this address See who is registered here
1 establishment unit
MANNA NV
Kanaaldijk 6, 2900 SchotenInsurance, reinsurance and pension funding, except compulsory social security
since 19912.052.002.336
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
11443C0537/00S000 Flanders 7,742 m² 1 · 4,632 m² 11.3 m · 3 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.

Articles of association

Purpose
Het patrimonium, gevormd door de inbrengsten en grotendeels bestaande uit onroerende goederen te behouden, in de ruimste zin van het woord te beheren en oordeelkundig uit te…
Full purpose

Het patrimonium, gevormd door de inbrengsten en grotendeels bestaande uit onroerende goederen te behouden, in de ruimste zin van het woord te beheren en oordeelkundig uit te breiden, alsook landsbouwontginning. De vennootschap zal er zorg voor dragen haar onroerende goederen slechts te vervreemden, wanneer deze bouwrijp geworden zijn, of wanneer gebiedende omstandigheden haar daartoe dwingen. Binnen het kader van haar voorwerp zal de vennootschap mogen overgaan tot het aankopen, opschikken, uitrusten, valoriseren, bouwen, verhuren of in huur nemen van onroerende goederen, al dan niet gemeubeld. Zij zal in het kader van haar werkzaamheden alle onroerende en roerende verrichtingen mogen stellen, die nodig of nuttig kunnen zijn voor de verwezenlijking van haar voorwerp. Verder mag zij ook in het kader van het beheer van het patrimonium een effectenportefeuille uitbouwen en valoriseren. Zij mag alle industriële, commerciële, financiële, roerende en onroerende handelingen stellen die rechtstreeks of onrechtstreeks in verband staan met haar voorwerp. De vennootschap mag langs alle rechtswegen deelnemen aan alle zaken, ondernemingen of vennootschappen met een identiek, gelijkaardig of aanverwant voorwerp of die van aar zijn om de ontwikkeling van haar voorwerp te bevorderen. Zij mag eveneens belangen hebben bij wijze van inbreng, inschrijving of anderszins in alle ondernemingen, verenigingen of vennootschappen die een gelijkaardig, analoog of aanverwant voorwerp nastreven, of wier voorwerp van aard is dat van de vennootschap te bevorderen. Zij mag zich voor deze vennootschappen borg stellen of aval verlenen, voorschotten en krediet toestaan, hypothecaire of andere waarborgen verstrekken. Deze opsomming is niet beperkend, zodat de raad van bestuur alle handelingen kan stellen die, op welke wijze ook, kunnen bijdragen tot de verwezenlijking van haar voorwerp. Het voorwerp kan gewijzigd worden bij een besluit van de buitengewone algemene vergadering gehouden ten overstaan van een notaris en met inachtneming van de voorschriften van het Wetboek van vennootschappen en verenigingen. De vennootschap is verbonden door de rechtshandelingen verricht door haar organen van vertegenwoordiging, zelfs indien die handelingen buiten haar voorwerp liggen, tenzij zij bewijst dat de derde daarvan op de hoogte was of er, gelet op de omstandigheden, niet onkundig van kon zijn. Openbaarmaking van de statuten alleen is echter geen voldoende bewijs, een en ander onverminderd de persoonlijke aansprakelijkheid van de bestuurders voor de schade die het gevolg is van de voorwerpoverschrijdende handelingen.

Structure & network

Ownership & control

1 parent company
Control over this companyparent company per the LEI register1
controls
MANNABE 0443.046.015

Acquisitions and mergers

1 transaction
Split off to:Vasyti
BE 1038.825.062partial demerger · State Gazette act of 18-08-2026 (5 acts) · effective 01-01-2026

Capital and shareholders

Shareholders according to the acts
Stated in the act act of 23-06-2026 ↗

The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.

Capital over the years
  1. 18-08-2026 Capital reduction of 6,699.89 EUR · to 363,300.11 EUR · in a demerger
  2. 23-06-2026 Capital reduction of 6,699.89 EUR · to 363,300.11 EUR · in a demerger

Recognitions · licences · registrations

Legal Entity Identifier

875500QKPV55PVFKI080
live in the LEI register

Similar companies · same sector, comparable size

Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 4,257 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
Founded28-12-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing

Scores and ratios are computed by Checked and are not a credit decision.