M.A.N.O.N.: 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.
M.A.N.O.N.
Largest movements
- Receivables after one year +€87,500
new in 2025: €87,500
- Cash -€81,798
down €81,798 (-83.9%), from €97,526 to €15,728
mainly Receivables after one year (-€87,500) and Investment in fixed assets (net) (-€64,334)
- Tangible fixed assets +€61,698
new in 2025: €61,698
of which Other tangible fixed assets: +€46,603
- Receivables within one year +€47,564
up €47,564 (+81.2%), from €58,584 to €106,147
of which Other amounts receivable: +€30,286
- Profit (loss) carried forward +€105,308
up €105,308 (+90.1%), from €116,924 to €222,232
- Other debts +€8,255
up €8,255, from €0 to €8,255
- Tax, wage and social debts +€4,435
up €4,435 (+13.6%), from €32,598 to €37,033
of which Taxes: +€4,435
- Gross operating margin +€21,801
up €21,801 (+18.2%), from €120,102 to €141,903
- Taxes +€5,261
up €5,261 (+20.6%), from €25,500 to €30,761
- Depreciation +€2,635
new in 2025: €2,635
- Other operating charges +€2,490
new in 2025: €2,490
- Financial income +€2,373
up €2,373 (+7,180%), from €33 to €2,406
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 | €156,109 | €272,022 | +€115,913 | +74.3% |
| Fixed assets | 21/28 | - | €61,698 | +€61,698 | |
| Tangible fixed assets | 22/27 | - | €61,698 | +€61,698 | |
| Furniture and vehicles | 24 | - | €15,095 | +€15,095 | |
| Other tangible fixed assets | 26 | - | €46,603 | +€46,603 | |
| Current assets | 29/58 | €156,109 | €210,324 | +€54,215 | +34.7% |
| Amounts receivable after more than one year | 29 | - | €87,500 | +€87,500 | |
| Other amounts receivable | 291 | - | €87,500 | +€87,500 | |
| Amounts receivable within one year | 40/41 | €58,584 | €106,147 | +€47,564 | +81.2% |
| Trade receivables | 40 | €57,493 | €74,771 | +€17,278 | +30.1% |
| Other amounts receivable | 41 | €1,091 | €31,376 | +€30,286 | +2,777% |
| Cash at bank and in hand | 54/58 | €97,526 | €15,728 | -€81,798 | -83.9% |
| Deferred charges and accrued income | 490/1 | - | €949 | +€949 | |
| Total equity and liabilities | 10/49 | €156,109 | €272,022 | +€115,913 | +74.3% |
| Equity | 10/15 | €119,424 | €224,732 | +€105,308 | +88.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,924 | €222,232 | +€105,308 | +90.1% |
| Amounts payable | 17/49 | €36,686 | €47,291 | +€10,605 | +28.9% |
| Amounts payable within one year | 42/48 | €36,686 | €47,291 | +€10,605 | +28.9% |
| Trade debts | 44 | €4,088 | €2,003 | -€2,085 | -51.0% |
| Suppliers | 440/4 | €4,088 | €2,003 | -€2,085 | -51.0% |
| Taxes, remuneration and social security | 45 | €32,598 | €37,033 | +€4,435 | +13.6% |
| Taxes | 450/3 | €32,598 | €37,033 | +€4,435 | +13.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €8,255 | +€8,255 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,635 | +€2,635 | |
| Other operating charges | 640/8 | - | €2,490 | +€2,490 | |
| Gross operating margin | 9900 | €120,102 | €141,903 | +€21,801 | +18.2% |
| Operating profit (loss) | 9901 | €120,102 | €136,778 | +€16,676 | +13.9% |
| Financial income | 75/76B | €33 | €2,406 | +€2,373 | +7,180% |
| Recurring financial income | 75 | €33 | €2,406 | +€2,373 | +7,180% |
| Financial charges | 65/66B | €2,770 | €3,115 | +€345 | +12.5% |
| Recurring financial charges | 65 | €2,770 | €3,115 | +€345 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €117,365 | €136,069 | +€18,703 | +15.9% |
| Income taxes | 67/77 | €25,500 | €30,761 | +€5,261 | +20.6% |
| Profit (loss) for the period | 9904 | €91,865 | €105,308 | +€13,443 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €91,865 | €105,308 | +€13,443 | +14.6% |
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 31 October 2026 via checked.be.