Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 48 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Manmaxco from Kortrijk, company number BE0678762052, closed financial year 2025 with a result of € -26,581 after tax. For that financial year Manmaxco recorded a gross margin of € 18,437 and equity of € 99,530. Compared with financial year 2024, the result moved from € 11,197 to € -26,581. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on January 30, 2026.
€ 99,530
▼ 29% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -26,581
▼ still € 11,197 profit in 2024
Profit after tax over the fiscal year.
€ 13,643
▼ 32% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 80,980.
People and assets in 2025
€ 5,067
▼ 59% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 217,221
▲ 24% vs 2024
€ 12,335 is repaid this year. At this pace the long-term loan is gone in ≈ 18 years.
€ 10,674
▼ 83% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 17,717
▲ 34% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 81,287 | € 159,553 | € 51,936 | € 18,437 | ▼ 65% |
| Profit after taxes | € 50,350 | € 66,627 | € 11,197 | € -26,581 | ▼ € 37,778 |
| Equity | € 60,938 | € 139,914 | € 141,111 | € 99,530 | ▼ 29% |
| Total debts | € 74,579 | € 71,657 | € 323,694 | € 323,329 | |
| Cash | € 37,202 | € 53,737 | € 19,980 | € 13,643 | ▼ 32% |
| Land & buildings | - | - | € 228,603 | € 299,053 | ▲ 31% |
| Retained profit | € 54,738 | € 121,364 | € 122,561 | € 80,980 | ▼ 34% |
| Dividend | € 0 | € 0 | € 10,000 | € 15,000 | ▲ 50% |
| Bank debt | € 12,529 | € 5,040 | € 174,813 | € 217,221 | ▲ 24% |
| Balance sheet total | € 135,517 | € 211,571 | € 464,805 | € 422,859 | ▼ 9% |
Key figures of Manmaxco, 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 January 2027.
What happened to Manmaxco?
What happened at Manmaxco in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 26,581 (▼ € 37,778 vs 2024). Source: NBB ↗
- New establishment in Kortrijk. KBO
- Start of the company according to the CBE. KBO
- Lindsay Demuynck became a director. NBB
- Helmut Vangheluwe became a director. NBB
In short
From € 50,350 profit in 2022 to € 26,581 loss in 2025.
Paid € 47,951 in corporate taxes since 2022.
Best year ever: 2023, with € 66,627 profit.
Paid out € 25,000 in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind Manmaxco are Lindsay Demuynck and Helmut Vangheluwe. It owns 50% of Hemico itself.
Directors
According to the 2025 annual accounts
since 2017
Helmut Vangheluwe
Director
since 2017
Establishments
Establishment units
Physical locations of this company
Polydoor Benootstraat(Mar) 4
8510 Kortrijk
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0678.762.052
- VAT number
- BE 0678.762.052
- Registered office
- Polydoor Benootstraat(Mar) 4, 8510 Kortrijk
- Names & denominations
- Manmaxco
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 20 July 2017
- Peppol
- Active · Active since 22 Jul 2025
- Activities · NACE
Activiteiten van holdings
Holdings