ACTIVE

MANAEST

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Financial year 2025 · closed on 31/12/2025
Net result
2 k €
+106.3% YoY
Gross margin
48 k €
+255.3% YoY
Equity
-159,2 k €
+1.2% YoY
Workforce
1,0 ETP
0.0% YoY

What does MANAEST do?

MANAEST is a Private limited company incorporated in 2014. Its main activity is: Raising of horses and other equines. Its registered office is in Aywaille. It employs on average 1,0 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0547.924.690
Incorporation
13/03/2014
Legal form
Private limited company
Registered office
Hassoumont 2
4920 Aywaille · WallonieSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Average workforce
1,0 ETP
Activities (NACE)
01430Raising of horses and other equines· main01430Raising of horses and other equines93199Other sports activities93199Other sports activities01620Support activities for animal production01620Support activities for animal production+2
Joint committees (2)
  • 200
  • 218
Signals
ProfitablePositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 12 financial years

202520242023202220212020201920182017201620152014
Income statement
Gross margin48 k €13,5 k €23,5 k €23,8 k €38,6 k €-2,5 k €48,8 k €4,4 k €-3,7 k €23,4 k €54,3 k €5,2 k €
EBITDA7,9 k €-26,3 k €-4,7 k €-10,9 k €4,4 k €-27,6 k €15,9 k €-27,6 k €-33,6 k €-2,6 k €28,8 k €-3,7 k €
Operating result6 k €-27,9 k €-5,5 k €-11,1 k €4,4 k €-27,6 k €12,2 k €-40,5 k €-46,7 k €-15,8 k €16,2 k €-13,2 k €
Net result2 k €-31,2 k €-8,7 k €-14,1 k €1,4 k €-30 k €10,1 k €-42,5 k €-48 k €-17,2 k €14,8 k €-14,2 k €
Balance sheet
Equity-159,2 k €-161,1 k €-129,9 k €-121,2 k €-107,1 k €-108,5 k €-78,4 k €-88,5 k €-46 k €2,1 k €19,3 k €-7,9 k €
Total assets64,1 k €36,7 k €39,1 k €40,2 k €43,1 k €34,5 k €44,8 k €36,6 k €55,6 k €68,1 k €140,5 k €95,9 k €
Cash17,1 k €734,7 €1 k €4,3 k €10,3 k €1,7 k €13,6 k €2 k €–9,8 k €2,1 k €3,6 k €
Debts219,5 k €194,6 k €165,9 k €158,4 k €143,8 k €136,8 k €117,2 k €119,3 k €84,6 k €52,7 k €111,6 k €97,9 k €
Other
Workforce1,0 ETP1,0 ETP1,0 ETP1,0 ETP1,0 ETP1,0 ETP1,0 ETP1,0 ETP1,0 ETP0,9 ETP0,9 ETP0,4 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 5 ended

Active mandates

Natacha LEVY

Director · since 28 mai 2024

Active
Maison Picard

Director · since 17 mai 2021 · 0408.210.741

Represented by Philippe LEVY

Active

Ended mandates

Maison Picard

Director · since 17 mai 2021 · 0408.210.741

Represented by Philippe LEVY

Ended
Maison Picard

Manager · since 13 mars 2014 · 0408.210.741

Represented by Christel NOIROT

Ended
Maison Picard

Director · since 13 mars 2014 · 0408.210.741

Represented by Christel NOIROT

Ended
Maison Picard

Manager · since 13 mars 2014 · 0408.210.741

Represented by Christel NOIROT

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date17/06/202605/07/202505/06/202407/06/202330/06/202202/06/2021
General meeting10/06/202623/06/202528/05/202430/05/202320/06/202217/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

12 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202510/06/202617/06/2026FrenchPDF
Abridged model31/12/202423/06/202505/07/2025FrenchPDF
Abridged model31/12/202328/05/202405/06/2024FrenchPDF
Abridged model31/12/202230/05/202307/06/2023FrenchPDF
Abridged model31/12/202120/06/202230/06/2022FrenchPDF
Abridged model31/12/202017/05/202102/06/2021FrenchPDF
Abridged model31/12/201918/05/202025/06/2020FrenchPDF
Abridged model31/12/201820/05/201922/05/2019FrenchPDF
Abridged model31/12/201722/05/201830/05/2018FrenchPDF
Abridged model31/12/201619/06/201729/06/2017FrenchPDF
Abridged model31/12/201520/06/201627/06/2016FrenchPDF
Abridged model31/12/201418/05/201502/06/2015FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 5 ended

Active mandates

Natacha LEVY

Director · since 28 mai 2024

Active
Maison Picard

Director · since 17 mai 2021 · 0408.210.741

Represented by Philippe LEVY

Active

Ended mandates

Maison Picard

Director · since 17 mai 2021 · 0408.210.741

Represented by Philippe LEVY

Ended
Maison Picard

Manager · since 13 mars 2014 · 0408.210.741

Represented by Christel NOIROT

Ended
Maison Picard

Director · since 13 mars 2014 · 0408.210.741

Represented by Christel NOIROT

Ended
Maison Picard

Manager · since 13 mars 2014 · 0408.210.741

Represented by Christel NOIROT

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates15/07/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates05/01/2024
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates11/06/2021
    DEMISSIONS, NOMINATIONS
    PDF
  • Other17/03/2014
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 20252 k €↑
  2. 2024
    Annual accounts 2024-31,2 k €↓
  3. 2023
    Annual accounts 2023-8,7 k €↑
  4. 2022
    Annual accounts 2022-14,1 k €↓
  5. 2021
    Annual accounts 20211,4 k €↑
  6. 2020
    Annual accounts 2020-30 k €↓
  7. 2019
    Annual accounts 201910,1 k €↑
  8. 2018
    Annual accounts 2018-42,5 k €↑
  9. 2017
    Annual accounts 2017-48 k €↓
  10. 2016
    Annual accounts 2016-17,2 k €↓
  11. 2015
    Annual accounts 201514,8 k €↑
  12. 2014
    Annual accounts 2014-14,2 k €
  13. 13/03/2014
    IncorporationPrivate limited company