Summary
MAN@THEWHEEL has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €188.49M and a net result of €8.03M. Equity is growing by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 68% of 3187 sector peers (fiscal year 2025). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
Credit advice for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
10 d late
2024
8 d early
2023
7 d early
2022
4 d early
2021
24 d early
2020
29 d early
2019
17 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, full schema
Turnover
€714k▲ 11.0%
2024 · €643k
2018: €308k
2019: €283k
2020: €288k
2021: €326k
2022: €394k
2023: €561k
2024: €643k
2018 → 2025
EBIT margin
-238.7%▼ 71.5pp
2024 · -167.3%
2018: -140.3%
2019: -134.6%
2020: -131.2%
2021: -140.1%
2022: -162.3%
2023: -172.5%
2024: -167.3%
2018 → 2025
Net result
€8.03M▼ 21.7%
2024 · €10.26M
2018: €23.49M
2019: €15.74M
2020: €118k
2021: €18.74M
2022: €11.24M
2023: €12.98M
2024: €10.26M
2018 → 2025
Working capital
€18.73M▼ 77.2%
2024 · €82.11M
2018: €14.02M
2019: €31.35M
2020: €32.35M
2021: €57.53M
2022: €67.48M
2023: €69.54M
2024: €82.11M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€326k-€394k▲ 20.8%€561k▲ 42.6%€643k▲ 14.5%€714k▲ 11.0%
Equity€241.80M-€251.62M▲ 4.1%€255.52M▲ 1.5%€265.77M▲ 4.0%€188.49M▼ 29.1%
Operating result€-457k-€-639k▼ 39.8%€-968k▼ 51.6%€-1.08M▼ 11.1%€-1.70M▼ 58.5%
Net result€18.74M-€11.24M▼ 40.0%€12.98M▲ 15.4%€10.26M▼ 21.0%€8.03M▼ 21.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.70M in 2025 against €1.08M in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €259.09M
Fixed assets
€190.43M ▼ 2.1%
Current assets
€68.66M ▼ 25.6%
Equity and liabilities €259.09M
Equity
€188.49M ▼ 29.1%
Debt
€70.60M ▲ 237%
Debt's share of the balance-sheet total rises from 7.3% to 27.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
4.3%▲
2024 · 3.9%
ROA
3.1%▼
2024 · 3.6%
Debt ≤ 1 year
€49.93M▲
2024 · €10.16M
Debt > 1 year
€16.50M▲
2024 · €6.50M
Income taxes
€77k▼
2024 · €429k
Staff costs
€417k▼
2024 · €445k
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 · 71 lines
Balance sheet
Code20242025
Assets
Total assets20/58€286.73M€259.09M▼
Fixed assets21/28€194.46M€190.43M▼
Tangible fixed assets22/27€436k€315k▼
Plant, machinery and equipment23€433k€315k▼
Furniture and vehicles24€2k-
Financial fixed assets28€194.03M€190.11M▼
Affiliated companies280/1€194.03M€190.11M▼
Participating interests280€191.75M€190.11M▼
Amounts receivable281€2.27M-
Current assets29/58€92.26M€68.66M▼
Amounts receivable after more than one year29€9.24M€8.37M▼
Other amounts receivable291€9.24M€8.37M▼
Amounts receivable within one year40/41€65.73M€20.08M▼
Trade receivables40€38k€69k▲
Other amounts receivable41€65.69M€20.01M▼
Current investments50/53€15.37M€37.71M▲
Other investments51/53€15.37M€37.71M▲
Cash at bank and in hand54/58€1.59M€2.26M▲
Deferred charges and accrued income490/1€333k€233k▼
Equity and liabilities
Total equity and liabilities10/49€286.73M€259.09M▼
Equity10/15€265.77M€188.49M▼
Contributions10/11€174.91M€120.41M▼
Reserves13€90.86M€68.07M▼
Distributable reserves133€90.86M€68.07M▼
Amounts payable17/49€20.95M€70.60M▲
Amounts payable after more than one year17€6.50M€16.50M▲
Financial debts170/4€6.50M€16.50M▲
Credit institutions173€6.50M€16.50M▲
Amounts payable within one year42/48€10.16M€49.93M▲
Trade debts44€149k€530k▲
Suppliers440/4€149k€530k▲
Taxes, remuneration and social security45€86k€271k▲
Taxes450/3€32k€227k▲
Remuneration and social security454/9€54k€44k▼
Other amounts payable47/48€9.92M€49.13M▲
Accrued charges and deferred income492/3€4.30M€4.17M▼
Income statement
Code20242025
Operating income70/76A€783k€850k▲
Turnover70€643k€714k▲
Other operating income74€140k€136k▼
Operating charges60/66A€1.86M€2.55M▲
Services and other goods61€1.18M€1.89M▲
Remuneration, social security and pensions62€445k€417k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€118k€120k▲
Other operating charges640/8€117k€128k▲
Operating profit (loss)9901€-1.08M€-1.70M▼
Financial income75/76B€13.29M€13.25M▼
Recurring financial income75€13.29M€13.25M▼
Income from financial fixed assets750€9.91M€9.64M▼
Income from current assets751€3.27M€2.38M▼
Other financial income752/9€109k€1.23M▲
Financial charges65/66B€1.53M€3.44M▲
Recurring financial charges65€1.53M€1.93M▲
Debt charges650€558k€406k▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€960k€1.09M▲
Other financial charges652/9€14k€430k▲
Non-recurring financial charges66B-€1.51M
Profit (loss) for the period before taxes9903€10.69M€8.10M▼
Income taxes67/77€429k€77k▼
Taxes670/3€429k€88k▼
Tax adjustments and reversals of tax provisions77€73€11k▲
Profit (loss) for the period9904€10.26M€8.03M▼
Profit (loss) for the period to be appropriated9905€10.26M€8.03M▼
Appropriation of the result
Profit (loss) to be appropriated9906€10.26M€8.03M▼
Transfer from equity791/2-€14.08M
From reserves792-€14.08M
Transfer to equity691/2€10.26M€8.03M▼
To other reserves6921€10.26M€8.03M▼
Profit to be distributed694/7-€14.09M
Return on contributions (dividend)694-€14.08M
Employees696-€312
Social balance
Average headcount (FTE)90874.74.2▼
The notes to these accounts (55 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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 10 days late
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Equity above €250MEq €251.62M ▲4.1%
5 profitable years in a row build equity to €251.62M.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Liquidity triplescurrent ratio 9.84
Current ratio from 3.46 to 9.84; short-term debt falls from €13.15M to €6.51M.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €118k ▼99.2%
Net result drops to €118k, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity doublescurrent ratio 3.60
Current ratio from 1.71 to 3.60; short-term debt falls from €19.70M to €12.06M.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Show earlier events
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2009
20-04
State Gazette act
General meeting · Purpose change
Net-asset statement · Legal-form conversion
2004
08-11
State Gazette act
Capital · Capital increase
Director resignation · Director discharge · Herbert Houben
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Lommel · 2 establishment units since 2016
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.
Beemdstraat 663920 LommelGround area
1.5 ha
Building footprint
2,213 m²
Volume, LiDAR
11,756 m³
2 parcels, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
MAN@THEWHEEL
since 20162.251.127.597
MAN@THEWHEEL
since 20202.309.831.504
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71307H0001/00V009 | Flanders | 1.3 ha | 1 · 1,795 m² | 8.7 m · 2 fl. |
| 72345B1464/00C000 | Flanders | 1,270 m² | 1 · 418 m² | 10.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
8 connected companiesLinked via shared directors
Shared director
→
Shared director
→
Shared director
→
Shared director
→
Show 4 more companies with a shared director
Shared director
→
Shared director
→
Shared director
→
Shared director
→
Recognitions · licences · registrations
Legal Entity Identifier
549300X4HXBQLQ2YIW86
Similar companies · same sector, comparable size
STALUSA
BE 0477.445.282
Elsene · Eq €190.50M
ALEXANDRA INTERNATIONAL
BE 0448.664.590
Antwerpen · Eq €191.40M
MARBO
BE 0783.958.849
Bocholt · Eq €191.92M
First Retail International 2
BE 0644.497.494
Dilbeek · Eq €183.96M
RANDSTAD GROUP BELGIUM
BE 0874.753.819
Grimbergen · Eq €193.81M
Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 647 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 formPrivate limited company
Founded30-08-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.