MAISON MANIGART: 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.
MAISON MANIGART
Largest movements
- Stocks and contracts -€28,194
down €28,194 (-3.4%), from €821,027 to €792,833
- Tangible fixed assets +€21,562
up €21,562 (+30.7%), from €70,297 to €91,860
of which Leasing and similar rights: +€27,819
- Debts after one year +€124,260
up €124,260 (+79.6%), from €156,201 to €280,462
of which Other amounts payable: +€107,814
- Other debts -€108,631
down €108,631 (-48.2%), from €225,543 to €116,912
- Reserves +€44,038
up €44,038 (+13.7%), from €321,407 to €365,445
of which Distributable reserves: +€45,910
- Trade debts -€36,331
down €36,331 (-36.4%), from €99,852 to €63,520
- Tax, wage and social debts -€12,963
down €12,963 (-28.1%), from €46,189 to €33,226
of which Taxes: -€14,181
- Gross operating margin -€29,980
down €29,980 (-14.1%), from €212,593 to €182,613
- Taxes -€15,710
down €15,710 (-45.3%), from €34,693 to €18,983
- Staff costs -€9,967
down €9,967 (-11.5%), from €86,503 to €76,536
- Depreciation +€9,847
up €9,847 (+100.9%), from €9,759 to €19,606
- Provisions +€8,017
no longer reported in 2025 (was -€8,017)
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 | €993,878 | €998,998 | +€5,119 | +0.5% |
| Fixed assets | 21/28 | €70,297 | €91,860 | +€21,562 | +30.7% |
| Tangible fixed assets | 22/27 | €70,297 | €91,860 | +€21,562 | +30.7% |
| Plant, machinery and equipment | 23 | - | €15,750 | +€15,750 | |
| Furniture and vehicles | 24 | €65,815 | €45,480 | -€20,335 | -30.9% |
| Leasing and similar rights | 25 | - | €27,819 | +€27,819 | |
| Other tangible fixed assets | 26 | €4,482 | €2,811 | -€1,672 | -37.3% |
| Current assets | 29/58 | €923,581 | €907,138 | -€16,443 | -1.8% |
| Stocks and contracts in progress | 3 | €821,027 | €792,833 | -€28,194 | -3.4% |
| Stocks | 30/36 | €821,027 | €792,833 | -€28,194 | -3.4% |
| Amounts receivable within one year | 40/41 | €72,865 | €79,375 | +€6,510 | +8.9% |
| Trade receivables | 40 | €71,541 | €76,924 | +€5,383 | +7.5% |
| Other amounts receivable | 41 | €1,324 | €2,451 | +€1,127 | +85.1% |
| Cash at bank and in hand | 54/58 | €24,254 | €29,881 | +€5,626 | +23.2% |
| Deferred charges and accrued income | 490/1 | €5,435 | €5,050 | -€385 | -7.1% |
| Total equity and liabilities | 10/49 | €993,878 | €998,998 | +€5,119 | +0.5% |
| Equity | 10/15 | €361,568 | €405,606 | +€44,038 | +12.2% |
| Contributions | 10/11 | €18,720 | €18,720 | = | 0.0% |
| Reserves | 13 | €321,407 | €365,445 | +€44,038 | +13.7% |
| Non-distributable reserves | 130/1 | €1,872 | - | -€1,872 | |
| Reserves not available under the articles | 1311 | €1,872 | - | -€1,872 | |
| Tax-exempt reserves | 132 | €15 | €15 | = | 0.0% |
| Distributable reserves | 133 | €319,520 | €365,430 | +€45,910 | +14.4% |
| Profit (loss) carried forward | 14 | €21,441 | €21,441 | = | 0.0% |
| Amounts payable | 17/49 | €632,310 | €593,391 | -€38,919 | -6.2% |
| Amounts payable after more than one year | 17 | €156,201 | €280,462 | +€124,260 | +79.6% |
| Financial debts | 170/4 | €42,292 | €58,738 | +€16,447 | +38.9% |
| Other amounts payable | 178/9 | €113,910 | €221,723 | +€107,814 | +94.6% |
| Amounts payable within one year | 42/48 | €457,294 | €298,818 | -€158,476 | -34.7% |
| Current portion of amounts payable after more than one year | 42 | €25,710 | €25,160 | -€551 | -2.1% |
| Financial debts | 43 | €60,000 | €60,000 | = | 0.0% |
| Other loans | 439 | €60,000 | €60,000 | = | 0.0% |
| Trade debts | 44 | €99,852 | €63,520 | -€36,331 | -36.4% |
| Suppliers | 440/4 | €99,852 | €63,520 | -€36,331 | -36.4% |
| Taxes, remuneration and social security | 45 | €46,189 | €33,226 | -€12,963 | -28.1% |
| Taxes | 450/3 | €33,179 | €18,997 | -€14,181 | -42.7% |
| Remuneration and social security | 454/9 | €13,011 | €14,228 | +€1,218 | +9.4% |
| Other amounts payable | 47/48 | €225,543 | €116,912 | -€108,631 | -48.2% |
| Accrued charges and deferred income | 492/3 | €18,815 | €14,112 | -€4,703 | -25.0% |
| Non-recurring operating income | 76A | €1,779 | €8,585 | +€6,806 | +382.5% |
| Remuneration, social security and pensions | 62 | €86,503 | €76,536 | -€9,967 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,759 | €19,606 | +€9,847 | +100.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€515 | €5,206 | +€5,721 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,017 | - | +€8,017 | |
| Other operating charges | 640/8 | €8,378 | €3,416 | -€4,962 | -59.2% |
| Non-recurring operating charges | 66A | €331 | €1,550 | +€1,219 | +368.6% |
| Gross operating margin | 9900 | €212,593 | €182,613 | -€29,980 | -14.1% |
| Operating profit (loss) | 9901 | €116,155 | €76,300 | -€39,855 | -34.3% |
| Financial income | 75/76B | €225 | €66 | -€159 | -70.6% |
| Recurring financial income | 75 | €225 | €66 | -€159 | -70.6% |
| Financial charges | 65/66B | €11,019 | €13,345 | +€2,326 | +21.1% |
| Recurring financial charges | 65 | €11,019 | €13,345 | +€2,326 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €105,361 | €63,020 | -€42,341 | -40.2% |
| Income taxes | 67/77 | €34,693 | €18,983 | -€15,710 | -45.3% |
| Profit (loss) for the period | 9904 | €70,668 | €44,038 | -€26,630 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €70,668 | €44,038 | -€26,630 | -37.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.