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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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Busy address KBO
14 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
MANUCHAR STEEL from Antwerpen, company number BE0865797353, closed financial year 2025 with a result of € 13 million after tax. For that financial year MANUCHAR STEEL recorded revenue of € 860.2 million and equity of € 16.3 million. Compared with financial year 2024, the result moved from € 2.8 million to € 13 million. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 16.3 million
▲ 32% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 13 million
▲ € 10.2 million vs 2024
Profit after tax over the fiscal year.
€ 11.8 million
▲ 26% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 21 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
37.8
▲ 7.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 4.3 million
▲ 45% vs 2024
€ 113,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 15,418
▲ 2% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 28.6 million
▼ 19% vs 2024
Loans from banks and other lenders, long and short.
€ 189.6 million
▼ 12% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 84 days on average.
€ 4.8 million
▲ 227% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 837,359,335 | € 625,305,399 | € 726,312,585 | € 860,187,108 | ▲ 18% |
| Profit after taxes | € 12,987,504 | € 3,621,960 | € 2,777,168 | € 12,985,597 | ▲ € 10.2 million |
| Equity | € 25,620,188 | € 8,542,148 | € 12,276,622 | € 16,257,084 | ▲ 32% |
| Total debts | € 102,209,087 | € 62,637,867 | € 256,127,637 | € 241,784,084 | ▼ 6% |
| Cash | € 4,382,586 | € 13,842,577 | € 9,379,437 | € 11,813,827 | ▲ 26% |
| Retained profit | € 22,120,188 | € 5,042,148 | € 8,038,122 | € 513,463 | ▼ 94% |
| Dividend | € 9,400,000 | € 20,700,000 | € 0 | € 20,964,910 | |
| Bank debt | € 13,919,911 | € 8,186,113 | € 35,303,000 | € 28,646,000 | ▼ 19% |
| Balance sheet total | € 127,829,274 | € 71,180,014 | € 268,404,259 | € 258,041,168 | ▼ 4% |
| Employees (FTE) | - | 14.4 | 30.4 | 37.8 | ▲ 7.4 |
Key figures of MANUCHAR STEEL, 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 STEEL?
What happened at MANUCHAR STEEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Aykut Özdemir stepped down as director. NBB
- M.D.R. BV stepped down as director. NBB
- Kevin Geybels stepped down as director. NBB
- Barry Collard stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 13 million (▲ € 10.2 million vs 2024). Source: NBB ↗
- Aykut Özdemir became a director. NBB
- M.D.R. BV became a director. NBB
- Kevin Geybels became a director. NBB
In short
From € 13 million profit in 2022 to € 13 million profit in 2025.
Paid € 8.8 million in corporate taxes since 2022.
Best year ever: 2022, with € 13 million profit.
Paid out € 51.1 million 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
The shares are held by Manuchar International Trade Services NV (86.5%) and Aykut Ozdemir (13.5%). It owns 100% of Aceminor, 100% of Manuchar Steel Hong Kong LTD and 100% of Manuchar Steel USA Inc itself.
Directors
According to the 2025 annual accounts
Aykut Özdemir
Director
Owns 13.5% directly
since 2025 · until 2031
since 2018 · until 2028
Director · represented by Matthias De Raeymaeker
Also active at: Manuchar, UNIT ONE, LDI INTERNATIONAL, ACTIVIOR, MANUCHAR GROUP, Manuchar Europe, Manuchar Wood, Manuchar Pulp & Paper +1 more
since 2025 · until 2031
Kevin Geybels
Director
since 2025 · until 2031
Shareholders
Aykut Ozdemir · director
13.5%
Participations
Aceminor
100%
Manuchar Steel Hong Kong LTD
100%
Manuchar Steel USA Inc
100%
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
MANUCHAR GROUP same network
LSF XI Magpie Finco same network
€ 9,875 gross margin · 2025
+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
- 0865.797.353
- VAT number
- BE 0865.797.353
- Registered office
- Rietschoorvelden 20, 2170 Antwerpen
- Names & denominations
- MANUCHAR STEEL
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 16 June 2004
- Peppol
- Active · Active since 30 Dec 2025
- Activities · NACE
Handelsbemiddeling in de groothandel in brandstoffen, ertsen, metalen en chemische producten
Groothandel in ijzerwaren