Illie Mangaro: what changed
Illie Mangaro
Largest movements
- Receivables within one year +€9,967
up €9,967 (+43.3%), from €23,005 to €32,971
of which Trade receivables: +€9,852
- Tangible fixed assets -€9,201
down €9,201 (-17.5%), from €52,494 to €43,293
of which Other tangible fixed assets: -€6,132
- Cash +€5,252
up €5,252 (+11.0%), from €47,674 to €52,926
mainly Other debts (+€16,931) and Depreciation (+€9,201)
- Deferred charges and accrued income -€4,253
down €4,253 (-98.0%), from €4,339 to €86
- Receivables after one year +€2,900
new in 2025: €2,900
- Trade debts -€18,028
down €18,028 (-62.4%), from €28,897 to €10,869
- Other debts +€16,931
up €16,931 (+104%), from €16,264 to €33,195
- Accrued charges and deferred income +€6,222
up €6,222, from €0 to €6,222
- Tax, wage and social debts -€4,327
down €4,327 (-18.1%), from €23,889 to €19,562
of which Remuneration and social security: -€4,609
- Advances received +€2,117
new in 2025: €2,117
- Gross operating margin -€75,203
down €75,203 (-69.3%), from €108,569 to €33,367
- Staff costs -€34,263
down €34,263 (-72.8%), from €47,097 to €12,833
- Taxes -€8,229
down €8,229 (-90.3%), from €9,110 to €881
- Other operating charges -€1,799
down €1,799 (-18.2%), from €9,897 to €8,098
- Financial income -€1,182
down €1,182 (-98.8%), from €1,196 to €15
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €127,512 | €132,177 | +€4,665 | +3.7% |
| Fixed assets | 21/28 | €52,494 | €43,293 | -€9,201 | -17.5% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -41.4% |
| Tangible fixed assets | 22/27 | €52,494 | €43,293 | -€9,201 | -17.5% |
| Plant, machinery and equipment | 23 | €3,987 | €918 | -€3,068 | -77.0% |
| Other tangible fixed assets | 26 | €48,507 | €42,374 | -€6,132 | -12.6% |
| Current assets | 29/58 | €75,018 | €88,884 | +€13,866 | +18.5% |
| Amounts receivable after more than one year | 29 | - | €2,900 | +€2,900 | |
| Other amounts receivable | 291 | - | €2,900 | +€2,900 | |
| Amounts receivable within one year | 40/41 | €23,005 | €32,971 | +€9,967 | +43.3% |
| Trade receivables | 40 | €22,834 | €32,685 | +€9,852 | +43.1% |
| Other amounts receivable | 41 | €171 | €286 | +€115 | +67.2% |
| Cash at bank and in hand | 54/58 | €47,674 | €52,926 | +€5,252 | +11.0% |
| Deferred charges and accrued income | 490/1 | €4,339 | €86 | -€4,253 | -98.0% |
| Total equity and liabilities | 10/49 | €127,512 | €132,177 | +€4,665 | +3.7% |
| Equity | 10/15 | €58,462 | €60,212 | +€1,750 | +3.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €53,462 | €55,212 | +€1,750 | +3.3% |
| Distributable reserves | 133 | €53,462 | €55,212 | +€1,750 | +3.3% |
| Amounts payable | 17/49 | €69,050 | €71,965 | +€2,915 | +4.2% |
| Amounts payable within one year | 42/48 | €69,050 | €65,743 | -€3,307 | -4.8% |
| Trade debts | 44 | €28,897 | €10,869 | -€18,028 | -62.4% |
| Suppliers | 440/4 | €28,897 | €10,869 | -€18,028 | -62.4% |
| Advances received on contracts in progress | 46 | - | €2,117 | +€2,117 | |
| Taxes, remuneration and social security | 45 | €23,889 | €19,562 | -€4,327 | -18.1% |
| Taxes | 450/3 | €18,580 | €18,862 | +€282 | +1.5% |
| Remuneration and social security | 454/9 | €5,308 | €699 | -€4,609 | -86.8% |
| Other amounts payable | 47/48 | €16,264 | €33,195 | +€16,931 | +104% |
| Accrued charges and deferred income | 492/3 | €0 | €6,222 | +€6,222 | |
| Remuneration, social security and pensions | 62 | €47,097 | €12,833 | -€34,263 | -72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,202 | €9,201 | -€1 | 0.0% |
| Other operating charges | 640/8 | €9,897 | €8,098 | -€1,799 | -18.2% |
| Gross operating margin | 9900 | €108,569 | €33,367 | -€75,203 | -69.3% |
| Operating profit (loss) | 9901 | €42,374 | €3,234 | -€39,140 | -92.4% |
| Financial income | 75/76B | €1,196 | €15 | -€1,182 | -98.8% |
| Recurring financial income | 75 | €1,196 | €15 | -€1,182 | -98.8% |
| Financial charges | 65/66B | €1,574 | €618 | -€956 | -60.8% |
| Recurring financial charges | 65 | €1,574 | €618 | -€956 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €41,996 | €2,631 | -€39,365 | -93.7% |
| Income taxes | 67/77 | €9,110 | €881 | -€8,229 | -90.3% |
| Profit (loss) for the period | 9904 | €32,886 | €1,750 | -€31,136 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,886 | €1,750 | -€31,136 | -94.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.