Daniel MANICOURT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Daniel MANICOURT
Largest movements
- Deferred charges and accrued income +€8,037
up €8,037 (+377.7%), from €2,128 to €10,164
- Receivables within one year -€4,364
down €4,364 (-11.4%), from €38,149 to €33,784
- Cash +€1,244
new in 2025: €1,244
mainly Net result for the year (+€20,556) and Receivables within one year (+€4,364)
- Tax, wage and social debts +€3,447
up €3,447 (+40.1%), from €8,602 to €12,049
- Short-term financial debts -€1,418
no longer reported in 2025 (was €1,418)
- Other debts +€1,322
up €1,322 (+6.9%), from €19,178 to €20,500
- Trade debts +€1,154
up €1,154 (+131.3%), from €879 to €2,033
- Gross operating margin +€14,191
up €14,191 (+71.6%), from €19,825 to €34,016
- Taxes +€4,733
up €4,733 (+83.2%), from €5,687 to €10,420
- Other operating charges -€460
no longer reported in 2025 (was €460)
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,362 | €48,968 | +€4,606 | +10.4% |
| Fixed assets | 21/28 | €4,085 | €3,775 | -€310 | -7.6% |
| Tangible fixed assets | 22/27 | €4,085 | €3,775 | -€310 | -7.6% |
| Plant, machinery and equipment | 23 | €167 | - | -€167 | |
| Furniture and vehicles | 24 | €3,918 | €3,775 | -€143 | -3.6% |
| Current assets | 29/58 | €40,277 | €45,193 | +€4,916 | +12.2% |
| Amounts receivable within one year | 40/41 | €38,149 | €33,784 | -€4,364 | -11.4% |
| Other amounts receivable | 41 | €38,149 | €33,784 | -€4,364 | -11.4% |
| Cash at bank and in hand | 54/58 | - | €1,244 | +€1,244 | |
| Deferred charges and accrued income | 490/1 | €2,128 | €10,164 | +€8,037 | +377.7% |
| Total equity and liabilities | 10/49 | €44,362 | €48,968 | +€4,606 | +10.4% |
| Equity | 10/15 | €14,285 | €14,341 | +€56 | +0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25 | €81 | +€56 | +223.4% |
| Amounts payable | 17/49 | €30,077 | €34,627 | +€4,550 | +15.1% |
| Amounts payable within one year | 42/48 | €30,077 | €34,582 | +€4,505 | +15.0% |
| Financial debts | 43 | €1,418 | - | -€1,418 | |
| Credit institutions | 430/8 | €1,418 | - | -€1,418 | |
| Trade debts | 44 | €879 | €2,033 | +€1,154 | +131.3% |
| Suppliers | 440/4 | €879 | €2,033 | +€1,154 | +131.3% |
| Taxes, remuneration and social security | 45 | €8,602 | €12,049 | +€3,447 | +40.1% |
| Taxes | 450/3 | €8,602 | €12,049 | +€3,447 | +40.1% |
| Other amounts payable | 47/48 | €19,178 | €20,500 | +€1,322 | +6.9% |
| Accrued charges and deferred income | 492/3 | - | €45 | +€45 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,102 | €2,891 | -€212 | -6.8% |
| Other operating charges | 640/8 | €460 | - | -€460 | |
| Gross operating margin | 9900 | €19,825 | €34,016 | +€14,191 | +71.6% |
| Operating profit (loss) | 9901 | €16,263 | €31,125 | +€14,862 | +91.4% |
| Financial charges | 65/66B | €161 | €149 | -€12 | -7.3% |
| Recurring financial charges | 65 | €161 | €149 | -€12 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €16,101 | €30,976 | +€14,874 | +92.4% |
| Income taxes | 67/77 | €5,687 | €10,420 | +€4,733 | +83.2% |
| Profit (loss) for the period | 9904 | €10,414 | €20,556 | +€10,141 | +97.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,414 | €20,556 | +€10,141 | +97.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.