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.
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Figures corrected NBB
Corrected annual account filed for 2022.
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Busy address KBO
14 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
MANUCHAR GROUP from Antwerpen, company number BE0777879622, closed financial year 2025 with a result of € -46.7 million after tax. Compared with financial year 2024, the result moved from € -13.8 million to € -46.7 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 2, 2026.
€ 387 million
▼ 11% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -46.7 million
▼ 240 % more loss than in 2024
Profit after tax over the fiscal year.
€ 839,810
▲ 21% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -108.4 million.
Debts at end 2025
€ 496.8 million
▲ 35% vs 2024
Loans from banks and other lenders, long and short.
€ 1.8 million
▲ € 1.8 million vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 2054 days on average.
€ 498,117
▲ 163% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € -29,081,582 | € -18,818,174 | € -13,761,085 | € -46,723,249 | ▼ € 33 million |
| Equity | € 440,938,432 | € 447,496,704 | € 433,735,618 | € 387,012,370 | ▼ 11% |
| Total debts | € 372,200,659 | € 376,031,641 | € 384,216,399 | € 501,270,644 | ▲ 30% |
| Cash | € 960,257 | € 347,074 | € 691,800 | € 839,810 | ▲ 21% |
| Retained profit | € -29,081,582 | € -47,899,756 | € -61,660,841 | € -108,384,090 | ▼ € 46.7 million |
| Bank debt | € 369,939,752 | € 369,355,000 | € 369,355,000 | € 496,782,500 | ▲ 35% |
| Balance sheet total | € 813,139,091 | € 823,528,344 | € 817,952,018 | € 888,283,013 | ▲ 9% |
Key figures of MANUCHAR GROUP, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to MANUCHAR GROUP?
What happened at MANUCHAR GROUP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 46.7 million. Source: NBB ↗
- Hucar BV became a director. NBB
- Guto Comm.V became a director. NBB
- M.D.R. BV became a director. NBB
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 29.1 million loss in 2022 to € 46.7 million loss in 2025.
Paid € 5 million in corporate taxes since 2022.
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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 MANUCHAR GROUP are Hucar BV, Guto Comm.V and M.D.R. BV. It owns 100% of LSF XI Magpie FINCO and 100% of Manuchar itself.
Directors
According to the 2025 annual accounts
Director · represented by Laurent Pasqualini
Also active at: Manuchar, Manuchar Pulp & Paper, Manuchar International Trade Services
since 2025
Director · represented by Spofie Beernaert
Also active at: Manuchar, Manuchar Pulp & Paper, Manuchar International Trade Services
since 2025
Director · represented by Matthias De Raeymaeker
Also active at: Manuchar, UNIT ONE, LDI INTERNATIONAL, ACTIVIOR, Manuchar Europe, Manuchar Wood, Manuchar Pulp & Paper, Manuchar International Trade Services +1 more
since 2022
Establishments
Establishment units
Physical locations of this company
Rietschoorvelden 20
2170 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 14 companies are registered at this address.
All companies at this address →Manuchar same network
€ 570.5 million revenue · 2025
UNIT ONE same network
€ 90,316 gross margin · 2025
LDI INTERNATIONAL same network
€ 3.1 million gross margin · 2025
LSF XI Magpie Finco same network
€ 9,875 gross margin · 2025
Flamengo investments
€ -5,481 gross margin · 2024
+9 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0777.879.622
- VAT number
- BE 0777.879.622
- Registered office
- Rietschoorvelden 20, 2170 Antwerpen
- Names & denominations
- MANUCHAR GROUP
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 November 2021
- Peppol
- Active · Active since 30 Dec 2025
- Activities · NACE
Activiteiten van holdings
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