DE MANSEN: what changed
Two fiscal 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.
DE MANSEN
Largest movements
- Tangible fixed assets +€36,406
up €36,406 (+14.4%), from €253,008 to €289,414
of which Land and buildings: +€37,191
- Cash -€12,455
down €12,455 (-25.0%), from €49,910 to €37,456
mainly Investment in fixed assets (net) (-€48,229) and Contributions, distributions and other (-€32,770)
- Receivables within one year +€4,692
up €4,692 (+29.8%), from €15,766 to €20,458
of which Trade receivables: +€5,440
- Other debts +€28,931
up €28,931 (+325.9%), from €8,878 to €37,809
- Debts after one year -€11,411
down €11,411 (-5.8%), from €197,560 to €186,150
- Tax, wage and social debts +€7,144
up €7,144, from €0 to €7,144
- Trade debts +€5,695
up €5,695 (+2653.2%), from €215 to €5,909
- Gross operating margin +€14,971
up €14,971 (+32.0%), from €46,773 to €61,744
- Financial charges +€4,027
up €4,027 (+86.1%), from €4,677 to €8,704
- Taxes +€3,025
up €3,025 (+42.0%), from €7,204 to €10,228
- Depreciation +€2,412
up €2,412 (+25.6%), from €9,411 to €11,823
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 | €319,734 | €347,327 | +€27,593 | +8.6% |
| Fixed assets | 21/28 | €253,008 | €289,414 | +€36,406 | +14.4% |
| Tangible fixed assets | 22/27 | €253,008 | €289,414 | +€36,406 | +14.4% |
| Land and buildings | 22 | €249,965 | €287,156 | +€37,191 | +14.9% |
| Furniture and vehicles | 24 | €3,043 | €2,258 | -€785 | -25.8% |
| Current assets | 29/58 | €66,726 | €57,913 | -€8,813 | -13.2% |
| Amounts receivable within one year | 40/41 | €15,766 | €20,458 | +€4,692 | +29.8% |
| Trade receivables | 40 | €9,790 | €15,230 | +€5,440 | +55.6% |
| Other amounts receivable | 41 | €5,976 | €5,228 | -€748 | -12.5% |
| Cash at bank and in hand | 54/58 | €49,910 | €37,456 | -€12,455 | -25.0% |
| Deferred charges and accrued income | 490/1 | €1,049 | €0 | -€1,049 | -100.0% |
| Total equity and liabilities | 10/49 | €319,734 | €347,327 | +€27,593 | +8.6% |
| Equity | 10/15 | €99,354 | €96,282 | -€3,072 | -3.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €95,354 | €92,282 | -€3,072 | -3.2% |
| Distributable reserves | 133 | €95,354 | €92,282 | -€3,072 | -3.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €220,380 | €251,045 | +€30,665 | +13.9% |
| Amounts payable after more than one year | 17 | €197,560 | €186,150 | -€11,411 | -5.8% |
| Financial debts | 170/4 | €197,560 | €186,150 | -€11,411 | -5.8% |
| Amounts payable within one year | 42/48 | €20,654 | €62,729 | +€42,074 | +203.7% |
| Current portion of amounts payable after more than one year | 42 | €10,997 | €11,411 | +€414 | +3.8% |
| Financial debts | 43 | €565 | €456 | -€109 | -19.3% |
| Credit institutions | 430/8 | €565 | €456 | -€109 | -19.3% |
| Trade debts | 44 | €215 | €5,909 | +€5,695 | +2653.2% |
| Suppliers | 440/4 | €215 | €5,909 | +€5,695 | +2653.2% |
| Taxes, remuneration and social security | 45 | €0 | €7,144 | +€7,144 | |
| Taxes | 450/3 | €0 | €7,144 | +€7,144 | |
| Other amounts payable | 47/48 | €8,878 | €37,809 | +€28,931 | +325.9% |
| Accrued charges and deferred income | 492/3 | €2,166 | €2,167 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,411 | €11,823 | +€2,412 | +25.6% |
| Other operating charges | 640/8 | €836 | €1,291 | +€456 | +54.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €46,773 | €61,744 | +€14,971 | +32.0% |
| Operating profit (loss) | 9901 | €36,527 | €48,630 | +€12,103 | +33.1% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100.0% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100.0% |
| Financial charges | 65/66B | €4,677 | €8,704 | +€4,027 | +86.1% |
| Recurring financial charges | 65 | €4,677 | €8,704 | +€4,027 | +86.1% |
| Profit (loss) for the period before taxes | 9903 | €31,854 | €39,926 | +€8,072 | +25.3% |
| Income taxes | 67/77 | €7,204 | €10,228 | +€3,025 | +42.0% |
| Profit (loss) for the period | 9904 | €24,650 | €29,698 | +€5,048 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,650 | €29,698 | +€5,048 | +20.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.