maanzee: what changed
Two fiscal 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.
maanzee
Largest movements
- Financial fixed assets -€5.9m
down €5.9m (-100.0%), from €5.9m to €0
- Intangible fixed assets +€5.8m
up €5.8m (+13803.2%), from €41,939 to €5.8m
- Stocks and contracts +€1.9m
up €1.9m (+735.7%), from €254,383 to €2.1m
- Tangible fixed assets +€1.8m
up €1.8m (+49.8%), from €3.5m to €5.3m
of which Land and buildings: +€1.7m
- Receivables within one year +€583,609
up €583,609 (+11.9%), from €4.9m to €5.5m
of which Trade receivables: +€314,123
- Other debts -€5.5m
down €5.5m (-85.1%), from €6.5m to €973,482
- Reserves +€3.7m
up €3.7m (+143.0%), from €2.6m to €6.2m
of which Tax-exempt reserves: +€2.9m
- Debts after one year +€3.5m
up €3.5m (+140.0%), from €2.5m to €5.9m
- Short-term financial debts +€1.8m
up €1.8m (+242.5%), from €728,260 to €2.5m
- Provisions +€1.1m
up €1.1m (+206.6%), from €521,058 to €1.6m
- Gross operating margin +€310,393
up €310,393 (+206.2%), from €150,533 to €460,926
- Other operating charges +€60,972
up €60,972 (+2725.2%), from €2,237 to €63,210
- Depreciation +€60,718
up €60,718 (+54.4%), from €111,546 to €172,265
- Financial income -€51,147
down €51,147 (-99.8%), from €51,258 to €111
- Financial charges -€45,291
down €45,291 (-16.1%), from €280,731 to €235,440
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.
Cash bridge derived
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 | €14,650,383 | €19,012,791 | +€4.4m | +29.8% |
| Fixed assets | 21/28 | €9,462,327 | €11,102,152 | +€1.6m | +17.3% |
| Intangible fixed assets | 21 | €41,939 | €5,830,861 | +€5.8m | +13803.2% |
| Tangible fixed assets | 22/27 | €3,519,818 | €5,271,291 | +€1.8m | +49.8% |
| Land and buildings | 22 | €3,475,861 | €5,207,374 | +€1.7m | +49.8% |
| Plant, machinery and equipment | 23 | €1,345 | €429 | -€916 | -68.1% |
| Furniture and vehicles | 24 | €12,612 | €9,610 | -€3,002 | -23.8% |
| Other tangible fixed assets | 26 | €30,000 | €30,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €23,877 | +€23,877 | |
| Financial fixed assets | 28 | €5,900,570 | €0 | -€5.9m | -100.0% |
| Current assets | 29/58 | €5,188,056 | €7,910,639 | +€2.7m | +52.5% |
| Amounts receivable after more than one year | 29 | - | €220,175 | +€220,175 | |
| Other amounts receivable | 291 | - | €220,175 | +€220,175 | |
| Stocks and contracts in progress | 3 | €254,383 | €2,125,939 | +€1.9m | +735.7% |
| Stocks | 30/36 | €254,383 | €2,125,939 | +€1.9m | +735.7% |
| Amounts receivable within one year | 40/41 | €4,893,170 | €5,476,779 | +€583,609 | +11.9% |
| Trade receivables | 40 | €7,310 | €321,433 | +€314,123 | +4297.1% |
| Other amounts receivable | 41 | €4,885,860 | €5,155,346 | +€269,486 | +5.5% |
| Cash at bank and in hand | 54/58 | €37,920 | €19,955 | -€17,965 | -47.4% |
| Deferred charges and accrued income | 490/1 | €2,583 | €67,791 | +€65,208 | +2524.4% |
| Total equity and liabilities | 10/49 | €14,650,383 | €19,012,791 | +€4.4m | +29.8% |
| Equity | 10/15 | €3,780,106 | €7,460,601 | +€3.7m | +97.4% |
| Contributions | 10/11 | €1,219,417 | €1,237,967 | +€18,550 | +1.5% |
| Reserves | 13 | €2,560,689 | €6,222,634 | +€3.7m | +143.0% |
| Tax-exempt reserves | 132 | €1,563,174 | €4,513,141 | +€2.9m | +188.7% |
| Distributable reserves | 133 | €997,515 | €1,709,493 | +€711,978 | +71.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €521,058 | €1,597,376 | +€1.1m | +206.6% |
| Deferred taxes | 168 | €521,058 | €1,597,376 | +€1.1m | +206.6% |
| Amounts payable | 17/49 | €10,349,219 | €9,954,814 | -€394,405 | -3.8% |
| Amounts payable after more than one year | 17 | €2,478,965 | €5,949,806 | +€3.5m | +140.0% |
| Financial debts | 170/4 | €2,478,965 | €5,949,806 | +€3.5m | +140.0% |
| Amounts payable within one year | 42/48 | €7,859,898 | €4,005,008 | -€3.9m | -49.0% |
| Current portion of amounts payable after more than one year | 42 | €123,171 | €225,277 | +€102,106 | +82.9% |
| Financial debts | 43 | €728,260 | €2,494,403 | +€1.8m | +242.5% |
| Credit institutions | 430/8 | €728,260 | €2,494,403 | +€1.8m | +242.5% |
| Trade debts | 44 | €212,705 | €260,296 | +€47,592 | +22.4% |
| Suppliers | 440/4 | €212,705 | €260,296 | +€47,592 | +22.4% |
| Taxes, remuneration and social security | 45 | €280,474 | €51,550 | -€228,924 | -81.6% |
| Taxes | 450/3 | €280,474 | €51,550 | -€228,924 | -81.6% |
| Other amounts payable | 47/48 | €6,515,289 | €973,482 | -€5.5m | -85.1% |
| Accrued charges and deferred income | 492/3 | €10,356 | €0 | -€10,356 | -100.0% |
| Non-recurring operating income | 76A | - | €135,067 | +€135,067 | |
| Remuneration, social security and pensions | 62 | - | €257 | +€257 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,546 | €172,265 | +€60,718 | +54.4% |
| Other operating charges | 640/8 | €2,237 | €63,210 | +€60,972 | +2725.2% |
| Gross operating margin | 9900 | €150,533 | €460,926 | +€310,393 | +206.2% |
| Operating profit (loss) | 9901 | €36,750 | €225,194 | +€188,445 | +512.8% |
| Financial income | 75/76B | €51,258 | €111 | -€51,147 | -99.8% |
| Recurring financial income | 75 | €51,258 | €111 | -€51,147 | -99.8% |
| Financial charges | 65/66B | €280,731 | €235,440 | -€45,291 | -16.1% |
| Recurring financial charges | 65 | €280,731 | €235,440 | -€45,291 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | -€192,723 | -€10,134 | +€182,589 | +94.7% |
| Transfer from deferred taxes | 780 | €5,173 | €34,311 | +€29,139 | +563.3% |
| Income taxes | 67/77 | €230 | €3,291 | +€3,062 | +1333.6% |
| Profit (loss) for the period | 9904 | -€187,780 | €20,886 | +€208,666 | |
| Transfer from tax-exempt reserves | 789 | €18,843 | €94,141 | +€75,298 | +399.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€168,937 | €115,027 | +€283,964 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.