La Manera: 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.
La Manera
Largest movements
- Formation expenses -€30,383
down €30,383 (-97.5%), from €31,153 to €770
- Tangible fixed assets +€7,132
up €7,132 (+1.1%), from €641,476 to €648,607
of which Plant, machinery and equipment: +€15,584
- Other debts +€489,364
up €489,364 (+338%), from €144,856 to €634,220
- Debts after one year -€434,853
no longer reported in 2025 (was €434,853)
- Profit (loss) carried forward -€58,771
down €58,771 (-33.3%), from -€176,502 to -€235,273
- Trade debts -€21,732
down €21,732 (-65.5%), from €33,167 to €11,435
- Purchases and services -€18,431
no longer reported in 2025 (was €18,431)
- Gross operating margin +€8,902
up €8,902, from -€8,618 to €284
- Depreciation +€3,993
up €3,993 (+9.3%), from €42,939 to €46,932
- Financial charges -€2,907
down €2,907 (-24.3%), from €11,986 to €9,079
- Other operating charges +€550
up €550 (+23.9%), from €2,302 to €2,853
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.
Derived cash bridge
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 | €675,374 | €649,382 | -€25,992 | -3.8% |
| Formation expenses | 20 | €31,153 | €770 | -€30,383 | -97.5% |
| Fixed assets | 21/28 | €641,476 | €648,607 | +€7,132 | +1.1% |
| Tangible fixed assets | 22/27 | €641,476 | €648,607 | +€7,132 | +1.1% |
| Land and buildings | 22 | €627,045 | €623,468 | -€3,578 | -0.6% |
| Plant, machinery and equipment | 23 | €2,989 | €18,573 | +€15,584 | +521% |
| Furniture and vehicles | 24 | €11,442 | €6,567 | -€4,875 | -42.6% |
| Current assets | 29/58 | €2,745 | €5 | -€2,740 | -99.8% |
| Amounts receivable within one year | 40/41 | €2,742 | - | -€2,742 | |
| Trade receivables | 40 | €2,742 | - | -€2,742 | |
| Current investments | 50/53 | - | €5 | +€5 | |
| Cash at bank and in hand | 54/58 | €4 | - | -€4 | |
| Total equity and liabilities | 10/49 | €675,374 | €649,382 | -€25,992 | -3.8% |
| Equity | 10/15 | €62,498 | €3,727 | -€58,771 | -94.0% |
| Contributions | 10/11 | €239,000 | €239,000 | = | 0.0% |
| Capital | 10 | €239,000 | - | -€239,000 | |
| Issued capital | 100 | €239,000 | - | -€239,000 | |
| Profit (loss) carried forward | 14 | -€176,502 | -€235,273 | -€58,771 | -33.3% |
| Amounts payable | 17/49 | €612,876 | €645,655 | +€32,779 | +5.3% |
| Amounts payable after more than one year | 17 | €434,853 | - | -€434,853 | |
| Financial debts | 170/4 | €434,853 | - | -€434,853 | |
| Amounts payable within one year | 42/48 | €178,023 | €645,655 | +€467,632 | +263% |
| Trade debts | 44 | €33,167 | €11,435 | -€21,732 | -65.5% |
| Suppliers | 440/4 | €33,167 | €11,435 | -€21,732 | -65.5% |
| Other amounts payable | 47/48 | €144,856 | €634,220 | +€489,364 | +338% |
| Goods, raw materials, services and sundry goods | 60/61 | €18,431 | - | -€18,431 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,939 | €46,932 | +€3,993 | +9.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €192 | +€192 | |
| Other operating charges | 640/8 | €2,302 | €2,853 | +€550 | +23.9% |
| Gross operating margin | 9900 | -€8,618 | €284 | +€8,902 | |
| Operating profit (loss) | 9901 | -€53,859 | -€49,692 | +€4,167 | +7.7% |
| Financial charges | 65/66B | €11,986 | €9,079 | -€2,907 | -24.3% |
| Recurring financial charges | 65 | €11,986 | €9,079 | -€2,907 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | -€65,845 | -€58,771 | +€7,074 | +10.7% |
| Profit (loss) for the period | 9904 | -€65,845 | -€58,771 | +€7,074 | +10.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,845 | -€58,771 | +€7,074 | +10.7% |
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 26 October 2026 via checked.be.