Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
MINERVA MANAGEMENT from Sint-Martens-Latem, company number BE0400080755, closed financial year 2025 with a result of € -1 million after tax. For that financial year MINERVA MANAGEMENT recorded a gross margin of € 365,186 and equity of € 2.3 million. Compared with financial year 2024, the result moved from € -990,637 to € -1 million. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on March 26, 2026.
€ 2.3 million
▼ 31% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1 million
▼ 5 % more loss than in 2024
Profit after tax over the fiscal year.
€ 27,624
▲ 127% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2.3 million.
People and assets in 2025
0.3
▼ 1.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 21,806
▼ 60% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 103,245
▼ 10% vs 2024
Of which on lease € 85,816.
Debts at end 2025
€ 36.7 million
▲ 92% vs 2024
€ 3.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 10 years.
€ 457,360
▲ 21% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 112,027
▲ 42% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 489,769 | € 1,126,292 | € 241,442 | € 365,186 | ▲ 51% |
| Profit after taxes | € 76,959 | € 195,469 | € -990,637 | € -1,036,481 | ▼ € 45,844 |
| Equity | € 4,157,903 | € 4,353,372 | € 3,362,735 | € 2,326,254 | ▼ 31% |
| Total debts | € 18,303,934 | € 19,233,530 | € 20,949,625 | € 38,715,051 | ▲ 85% |
| Cash | € 1,859,042 | € 123,687 | € 12,169 | € 27,624 | ▲ 127% |
| Land & buildings | € 12,691,227 | € 12,376,445 | € 12,054,979 | € 16,039,515 | ▲ 33% |
| Retained profit | € 4,096,103 | € 4,291,572 | € 3,300,935 | € 2,264,454 | ▼ 31% |
| Bank debt | € 7,508,335 | € 9,253,055 | € 19,114,593 | € 36,686,819 | ▲ 92% |
| Balance sheet total | € 23,071,578 | € 24,174,327 | € 24,877,469 | € 41,584,098 | ▲ 67% |
| Employees (FTE) | - | 0.3 | 1.4 | 0.3 | ▼ 1.1 |
Key figures of MINERVA MANAGEMENT, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to MINERVA MANAGEMENT?
What happened at MINERVA MANAGEMENT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 1 million. Source: NBB ↗
- Pauline DE GRAEVE became a director. NBB
- Dirk DE GRAEVE became a director. NBB
- Start of the company according to the CBE. KBO
- New establishment in Sint-Martens-Latem. KBO
In short
From € 76,959 profit in 2022 to € 1 million loss in 2025.
Paid € 44,311 in corporate taxes since 2022.
Best year ever: 2023, with € 195,469 profit.
On average € 172,500 of value added per employee in 2024.
Management
Behind MINERVA MANAGEMENT are Pauline DE GRAEVE and Dirk DE GRAEVE. It owns 50.6% of R.N.A. NV itself.
Directors
According to the 2025 annual accounts
since 2026
Dirk DE GRAEVE
Director
Also active at: SERVICE & DEVELOPMENT GROUP BELGIUM, Hauset Immo, TELUS PROPERTIES, CARLTON, BRUOCSELLA, TEN BROELE, Groene Wandeling, Driekoningen +6 more
since 2020
Establishments
Establishment units
Physical locations of this company
Bogaertstraat 23
9830 Sint-Martens-Latem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0400.080.755
- VAT number
- BE 0400.080.755
- Registered office
- Bogaertstraat 23, 9830 Sint-Martens-Latem
- Names & denominations
- MINERVA MANAGEMENT
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 2 Sept 2025
- Activities · NACE
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