MANUFAST - ABP Entreprise de Travail adapté
ActiveSummary
MANUFAST - ABP Entreprise de Travail adapté has been active since 1967 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.36M and a net result of €-300k. Equity is shrinking by ~11.3% per year across the filed fiscal years. Its solvency ranks better than 34% of 387 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
56
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability5▼-92
Solvency66▼-1
Growth22▼-16
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days acceptable
Liquidity ample (current ratio 1.8 against 1.81 in 2024; short-term debt: 53.2% and cash: 3.6% of total assets), but 58.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 88
Relative position
BE, all sectors
reference
Sector 88
lower
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
41.3%
Return on assets
-9.1%
Age of the figures
9 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 · 10 filingsDeviation from the deadline
2025
17 d early
2024
34 d early
2023
27 d early
2022
17 d early
2021
17 d early
2020
38 d early
2019
22 d early
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€3.34M▲ 1.4%
2024 · €3.29M
2018: €9.33M
2019: €8.82M
2020: €7.80M
2021: €8.39M
2022: €8.11M
2023: €7.94M
2024: €3.29M
2018 → 2025
EBIT margin
-10.5%▼ 38.1pp
2024 · 27.6%
2018: 5.5%
2019: -3.7%
2020: -0.9%
2021: 0.7%
2022: -11.9%
2023: -12.5%
2024: 27.6%
2018 → 2025
Net result
€-300k
2024 · €950k
2018: €494k
2019: €-342k
2020: €-79k
2021: €46k
2022: €-975k
2023: €-985k
2024: €950k
2018 → 2025
Working capital
€1.40M▼ 26.4%
2024 · €1.91M
2018: €2.50M
2019: €1.55M
2020: €1.98M
2021: €2.59M
2022: €1.33M
2023: €1.07M
2024: €1.91M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€8.39M-€8.11M▼ 3.3%€7.94M▼ 2.1%€3.29M▼ 58.5%€3.34M▲ 1.4%
Equity€2.85M-€1.87M▼ 34.6%€943k▼ 49.5%€1.88M▲ 99.4%€1.36M▼ 27.5%
Operating result€57k-€-965k€-990k▼ 2.6%€908k€-350k
Net result€46k-€-975k€-985k▼ 1.1%€950k€-300k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €350k after €908k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.30M
Fixed assets
€144k ▼ 35.5%
Current assets
€3.16M ▼ 25.8%
Equity and liabilities €3.30M
Equity
€1.36M ▼ 27.5%
Provisions
€9k ▼ 60.5%
Debt
€1.93M ▼ 25.1%
Debt's share of the balance-sheet total rises from 57.5% to 58.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-287k▼
2024 · €983k
Cash flow
€-236k▼
2024 · €1.03M
Current ratio
1.80▼
2024 · 1.81
Quick ratio
1.73▼
2024 · 1.76
Debt to equity
1.42▲
2024 · 1.37
ROE
-22.0%▼
2024 · 50.5%
ROA
-9.1%▼
2024 · 21.2%
Interest coverage
-15086.95▼
2024 · 2883.68
Debt ≤ 1 year
€1.76M▼
2024 · €2.35M
Debt > 1 year
€175k▼
2024 · €210k
Staff costs
€6.55M▼
2024 · €7.48M
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 · 78 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.48M€3.30M▼
Fixed assets21/28€223k€144k▼
Intangible fixed assets21€14k€11k▼
Tangible fixed assets22/27€149k€114k▼
Land and buildings22€0-
Plant, machinery and equipment23€41k€38k▼
Furniture and vehicles24€107k€77k▼
Leasing and similar rights25€1k€0▼
Financial fixed assets28€60k€19k▼
Companies linked by participating interests282/3€20k€8k▼
Participating interests282€20k€8k▼
Other financial fixed assets284/8€40k€10k▼
Amounts receivable and cash guarantees285/8€40k€10k▼
Current assets29/58€4.26M€3.16M▼
Stocks and contracts in progress3€113k€113k=
Stocks30/36€113k€113k=
Raw materials and consumables30/31€113k€113k=
Amounts receivable within one year40/41€1.12M€748k▼
Trade receivables40€695k€652k▼
Other amounts receivable41€430k€96k▼
Current investments50/53€2.33M€2.03M▼
Cash at bank and in hand54/58€457k€117k▼
Deferred charges and accrued income490/1€232k€156k▼
Equity and liabilities
Total equity and liabilities10/49€4.48M€3.30M▼
Equity10/15€1.88M€1.36M▼
Contributions10/11€1.55M€1.55M=
Capital10€1.55M€1.55M=
Reserves13€433k€433k=
Profit (loss) carried forward14€-378k€-677k▼
Investment grants15€277k€58k▼
Provisions and deferred taxes16€23k€9k▼
Provisions for liabilities and charges160/5€23k€9k▼
Other liabilities and charges164/5€23k€9k▼
Amounts payable17/49€2.58M€1.93M▼
Amounts payable after more than one year17€210k€175k▼
Financial debts170/4€0-
Leasing and similar obligations172€0-
Other amounts payable178/9€210k€175k▼
Amounts payable within one year42/48€2.35M€1.76M▼
Current portion of amounts payable after more than one year42€10k€0▼
Trade debts44€508k€428k▼
Suppliers440/4€508k€428k▼
Taxes, remuneration and social security45€1.24M€1.21M▼
Taxes450/3€179k€154k▼
Remuneration and social security454/9€1.06M€1.06M▼
Accrued charges and deferred income492/3€16k-
Income statement
Code20242025
Operating income70/76A€10.46M€8.11M▼
Turnover70€3.29M€3.34M▲
Other operating income74€401k€256k▼
Non-recurring operating income76A€2.67M€96k▼
Operating charges60/66A€9.55M€8.46M▼
Goods for resale, raw materials and consumables60€395k€737k▲
Purchases600/8€259k€737k▲
Change in stocks: decrease (increase)609€136k€0▼
Services and other goods61€1.40M€1.02M▼
Remuneration, social security and pensions62€7.48M€6.55M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€76k€63k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-27k€388▲
Other operating charges640/8€189k€104k▼
Non-recurring operating charges66A€625k€369▼
Operating profit (loss)9901€908k€-350k▼
Financial income75/76B€46k€62k▲
Recurring financial income75€46k€62k▲
Income from financial fixed assets750€46k€62k▲
Income from current assets751€0-
Financial charges65/66B€3k€12k▲
Recurring financial charges65€3k€365▼
Debt charges650€341€19▼
Other financial charges652/9€3k€346▼
Non-recurring financial charges66B-€11k
Profit (loss) for the period before taxes9903€950k€-300k▼
Profit (loss) for the period9904€950k€-300k▼
Profit (loss) for the period to be appropriated9905€950k€-300k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-378k€-677k▼
Profit (loss) brought forward from the previous period14P€-1.33M€-378k▲
From contributions791€950k€300k▼
To contributions691€950k€300k▼
Social balance
Average headcount (FTE)9087248.0234.0▼
The notes to these accounts (71 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
18-08
State Gazette act
Resignation: Johan Dhondt (direction et délégation journalière)Appointments: Jérémie Herrmann (directeur général) and Cédric Van De Weghe (directeur financier et directeur général adjoint) · Power of attorney9 facts ▸
State Gazette act
Resignation: Johan Dhondt (direction et délégation journalière)
Appointments: Jérémie Herrmann (directeur général) and Cédric Van De Weghe (directeur financier et directeur général adjoint) · Power of attorney9 facts ▸
- Board meeting, 19-12-2025
- Director resignation, Johan Dhondt (direction et délégation journalière)
- Director appointment, Jérémie Herrmann (directeur général (ceo))
- Director appointment, Cédric Van De Weghe (directeur financier et directeur général adjoint)
- Power of attorney, Jérémie Herrmann
- Power of attorney, Cédric Van De Weghe
- Power of attorney, Camelia Predescu
- Power of attorney, Jérémie Herrmann
- Power of attorney, Cédric Van De Weghe
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €950k
Net result €950k after 2 loss-making years.
31-12
Financial
Equity above €1MEq €1.88M ▲99.4%
Equity rises from €943k to €1.88M.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-985k
Net result drops to €-985k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €46k
Net result €46k after 2 loss-making years.
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
07-07
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.
Directors · office · real estate
Directors
2 directors, no change since 2026
Cédric Van De Weghe
CurrentDirecteur financier et directeur général adjoint · since 19-12-2025
Jérémie Herrmann
CurrentDirecteur général (ceo) · since 19-12-2025
03-01-2026
Johan Dhondt: Resigned as Direction et délégation journalière
19-12-2025
Cédric Van De Weghe: Appointed as Directeur financier et directeur général adjoint
19-12-2025
Jérémie Herrmann: Appointed as Directeur général (ceo)
Location & real-estate footprint
Registered office, Sint-Agatha-Berchem · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Gentsesteenweg 14341082 Sint-Agatha-BerchemGround area
1.6 ha
Building footprint
6,575 m²
Volume, LiDAR
95,337 m³
Parcel 21003A0289/00P011, Brussels · tallest building 28.2 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
MANUFAST - ABP Entreprise de Travail adapté
since 20062.153.569.056
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21003A0289/00P011 | Brussels | 1.6 ha | 1 · 6,575 m² | 28.2 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,716 EUR awarded · 2,716 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,716 EUR | 2,716 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Agatha-Berchem2.153.569.056
Similar companies · same sector, comparable size
Pinocchio
BE 0460.989.035
Brussel · Eq €1,364,202
MAATSCHAPPELIJKE ONDERLINGE BIJSTAND DE FAMILIE
BE 0409.535.780
Koekelberg · Eq €1,348,170
EUROPEAN FOOD BANKS FEDERATION
BE 0691.585.155
Evere · Eq €1,346,590
AIDE AUX PERSONNES DEPLACEES - HULPVERENIGING AAN ONTHEEMDEN - HILFE FUR HEIMATLOSE AUSLANDER - AID TO DISPLACED PERSONS - AIUTO AI RIFUGIATI STRANIERI
BE 0407.997.242
Liège · Eq €1,343,553
Centraal Joods Sociaal Werk
BE 0664.700.418
Antwerpen · Eq €1,391,182
Of 2,203 companies in sector 88999 we hold annual accounts for 802. 531 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded01-06-1967
Fiscal year end31-12
Abbreviation FR
MANUFAST-ABP
Activities, NACEBEL 2025
88993Social work activities without accommodation
88999Other social work without accommodation
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.