Keshia Mannaert: what changed
Keshia Mannaert
Largest movements
- Receivables within one year -€6,784
down €6,784 (-51.8%), from €13,103 to €6,319
of which Other amounts receivable: -€6,765
- Tangible fixed assets -€2,519
down €2,519 (-17.2%), from €14,628 to €12,109
of which Furniture and vehicles: -€1,804
- Cash +€840
up €840 (+3.6%), from €23,190 to €24,030
mainly Receivables within one year (+€6,784) and Net result for the year (+€6,158)
- Tax, wage and social debts -€8,559
down €8,559 (-49.9%), from €17,146 to €8,587
- Profit (loss) carried forward +€6,158
up €6,158 (+26.6%), from €23,129 to €29,287
- Other debts -€5,856
down €5,856 (-83.7%), from €7,000 to €1,144
- Gross operating margin -€10,046
down €10,046 (-41.6%), from €24,163 to €14,117
- Taxes -€2,646
down €2,646 (-50.1%), from €5,277 to €2,631
- Depreciation +€773
up €773 (+28.3%), from €2,736 to €3,509
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 | €51,498 | €43,081 | -€8,417 | -16.3% |
| Fixed assets | 21/28 | €14,628 | €12,109 | -€2,519 | -17.2% |
| Tangible fixed assets | 22/27 | €14,628 | €12,109 | -€2,519 | -17.2% |
| Plant, machinery and equipment | 23 | €2,596 | €2,164 | -€432 | -16.6% |
| Furniture and vehicles | 24 | €9,806 | €8,002 | -€1,804 | -18.4% |
| Other tangible fixed assets | 26 | €2,226 | €1,943 | -€283 | -12.7% |
| Current assets | 29/58 | €36,870 | €30,972 | -€5,898 | -16.0% |
| Amounts receivable within one year | 40/41 | €13,103 | €6,319 | -€6,784 | -51.8% |
| Trade receivables | 40 | €5,469 | €5,450 | -€19 | -0.3% |
| Other amounts receivable | 41 | €7,634 | €869 | -€6,765 | -88.6% |
| Cash at bank and in hand | 54/58 | €23,190 | €24,030 | +€840 | +3.6% |
| Deferred charges and accrued income | 490/1 | €577 | €623 | +€46 | +8.0% |
| Total equity and liabilities | 10/49 | €51,498 | €43,081 | -€8,417 | -16.3% |
| Equity | 10/15 | €27,129 | €33,287 | +€6,158 | +22.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,129 | €29,287 | +€6,158 | +26.6% |
| Amounts payable | 17/49 | €24,369 | €9,794 | -€14,575 | -59.8% |
| Amounts payable within one year | 42/48 | €24,369 | €9,794 | -€14,575 | -59.8% |
| Trade debts | 44 | €223 | €63 | -€160 | -71.7% |
| Suppliers | 440/4 | €223 | €63 | -€160 | -71.7% |
| Taxes, remuneration and social security | 45 | €17,146 | €8,587 | -€8,559 | -49.9% |
| Taxes | 450/3 | €17,146 | €8,587 | -€8,559 | -49.9% |
| Other amounts payable | 47/48 | €7,000 | €1,144 | -€5,856 | -83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,736 | €3,509 | +€773 | +28.3% |
| Other operating charges | 640/8 | €1,717 | €1,639 | -€78 | -4.5% |
| Gross operating margin | 9900 | €24,163 | €14,117 | -€10,046 | -41.6% |
| Operating profit (loss) | 9901 | €19,710 | €8,969 | -€10,741 | -54.5% |
| Financial income | 75/76B | €1 | €1 | = | 0.0% |
| Recurring financial income | 75 | €1 | €1 | = | 0.0% |
| Financial charges | 65/66B | €207 | €181 | -€26 | -12.6% |
| Recurring financial charges | 65 | €207 | €181 | -€26 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €19,504 | €8,789 | -€10,715 | -54.9% |
| Income taxes | 67/77 | €5,277 | €2,631 | -€2,646 | -50.1% |
| Profit (loss) for the period | 9904 | €14,227 | €6,158 | -€8,069 | -56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,227 | €6,158 | -€8,069 | -56.7% |
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 8 November 2026 via checked.be.