Ligare Manu: 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.
Ligare Manu
Largest movements
- Tangible fixed assets -€15,238
down €15,238 (-3.6%), from €419,189 to €403,951
of which Land and buildings: -€13,182
- Cash -€5,747
down €5,747 (-80.2%), from €7,165 to €1,418
mainly Debts after one year (-€27,857) and Current portion of long-term debt (-€1,871)
- Debts after one year -€27,857
down €27,857 (-11.4%), from €244,615 to €216,758
- Reserves +€6,123
up €6,123 (+4.0%), from €152,471 to €158,594
of which Distributable reserves: +€6,123
- Gross operating margin -€24,702
down €24,702 (-43.9%), from €56,252 to €31,551
- Taxes -€8,465
down €8,465 (-71.2%), from €11,886 to €3,420
- Depreciation -€1,612
down €1,612 (-9.6%), from €16,851 to €15,238
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 | €435,438 | €412,563 | -€22,875 | -5.3% |
| Fixed assets | 21/28 | €419,189 | €403,951 | -€15,238 | -3.6% |
| Tangible fixed assets | 22/27 | €419,189 | €403,951 | -€15,238 | -3.6% |
| Land and buildings | 22 | €415,584 | €402,402 | -€13,182 | -3.2% |
| Plant, machinery and equipment | 23 | €1,287 | €0 | -€1,287 | -100% |
| Furniture and vehicles | 24 | €2,318 | €1,549 | -€769 | -33.2% |
| Current assets | 29/58 | €16,249 | €8,612 | -€7,637 | -47.0% |
| Amounts receivable within one year | 40/41 | €9,084 | €7,194 | -€1,891 | -20.8% |
| Trade receivables | 40 | €322 | €188 | -€134 | -41.7% |
| Other amounts receivable | 41 | €8,762 | €7,006 | -€1,756 | -20.0% |
| Cash at bank and in hand | 54/58 | €7,165 | €1,418 | -€5,747 | -80.2% |
| Total equity and liabilities | 10/49 | €435,438 | €412,563 | -€22,875 | -5.3% |
| Equity | 10/15 | €153,471 | €159,594 | +€6,123 | +4.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €152,471 | €158,594 | +€6,123 | +4.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €152,471 | €158,594 | +€6,123 | +4.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €281,967 | €252,969 | -€28,998 | -10.3% |
| Amounts payable after more than one year | 17 | €244,615 | €216,758 | -€27,857 | -11.4% |
| Financial debts | 170/4 | €244,615 | €216,758 | -€27,857 | -11.4% |
| Amounts payable within one year | 42/48 | €37,352 | €36,211 | -€1,141 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €29,728 | €27,857 | -€1,871 | -6.3% |
| Trade debts | 44 | €3,472 | €4,407 | +€936 | +26.9% |
| Suppliers | 440/4 | €3,472 | €4,407 | +€936 | +26.9% |
| Taxes, remuneration and social security | 45 | €4,009 | €3,947 | -€62 | -1.5% |
| Taxes | 450/3 | €4,009 | €3,947 | -€62 | -1.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €144 | €0 | -€144 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,851 | €15,238 | -€1,612 | -9.6% |
| Other operating charges | 640/8 | €2,524 | €2,590 | +€66 | +2.6% |
| Gross operating margin | 9900 | €56,252 | €31,551 | -€24,702 | -43.9% |
| Operating profit (loss) | 9901 | €36,878 | €13,723 | -€23,155 | -62.8% |
| Financial income | 75/76B | €14 | €413 | +€399 | +2,754% |
| Recurring financial income | 75 | €14 | €413 | +€399 | +2,754% |
| Financial charges | 65/66B | €5,119 | €4,593 | -€527 | -10.3% |
| Recurring financial charges | 65 | €5,119 | €4,593 | -€527 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €31,773 | €9,543 | -€22,230 | -70.0% |
| Income taxes | 67/77 | €11,886 | €3,420 | -€8,465 | -71.2% |
| Profit (loss) for the period | 9904 | €19,887 | €6,123 | -€13,765 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,887 | €6,123 | -€13,765 | -69.2% |
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 22 October 2026 via checked.be.