MAN AND MATERIALS: 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.
MAN AND MATERIALS
Largest movements
- Cash +€4,068
up €4,068 (+3.3%), from €123,563 to €127,631
mainly Net result for the year (+€15,170) and Tax, wage and social debts (+€6,948)
- Other debts -€20,000
down €20,000 (-36.9%), from €54,267 to €34,267
- Reserves +€15,170
up €15,170 (+32.1%), from €47,196 to €62,365
of which Distributable reserves: +€50,650
- Tax, wage and social debts +€6,948
up €6,948 (+119%), from €5,830 to €12,778
- Trade debts +€2,438
up €2,438 (+1,071%), from €228 to €2,666
- Gross operating margin +€13,535
up €13,535 (+92.0%), from €14,706 to €28,240
- Taxes +€10,544
up €10,544 (+1,461%), from €721 to €11,265
- Depreciation +€588
up €588 (+211%), from €279 to €867
- Other operating charges -€326
down €326 (-28.3%), from €1,154 to €828
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 | €126,121 | €130,676 | +€4,556 | +3.6% |
| Fixed assets | 21/28 | €1,426 | €1,691 | +€265 | +18.6% |
| Tangible fixed assets | 22/27 | €1,426 | €1,691 | +€265 | +18.6% |
| Plant, machinery and equipment | 23 | €1,426 | €1,691 | +€265 | +18.6% |
| Current assets | 29/58 | €124,695 | €128,986 | +€4,291 | +3.4% |
| Current investments | 50/53 | €603 | €603 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €123,563 | €127,631 | +€4,068 | +3.3% |
| Deferred charges and accrued income | 490/1 | €529 | €751 | +€223 | +42.1% |
| Total equity and liabilities | 10/49 | €126,121 | €130,676 | +€4,556 | +3.6% |
| Equity | 10/15 | €65,796 | €80,965 | +€15,170 | +23.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,196 | €62,365 | +€15,170 | +32.1% |
| Non-distributable reserves | 130/1 | €35,481 | - | -€35,481 | |
| Other | 1319 | €35,481 | - | -€35,481 | |
| Distributable reserves | 133 | €11,715 | €62,365 | +€50,650 | +432% |
| Amounts payable | 17/49 | €60,325 | €49,711 | -€10,614 | -17.6% |
| Amounts payable within one year | 42/48 | €60,325 | €49,711 | -€10,614 | -17.6% |
| Trade debts | 44 | €228 | €2,666 | +€2,438 | +1,071% |
| Suppliers | 440/4 | €228 | €2,666 | +€2,438 | +1,071% |
| Taxes, remuneration and social security | 45 | €5,830 | €12,778 | +€6,948 | +119% |
| Taxes | 450/3 | €5,830 | €12,778 | +€6,948 | +119% |
| Other amounts payable | 47/48 | €54,267 | €34,267 | -€20,000 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €279 | €867 | +€588 | +211% |
| Other operating charges | 640/8 | €1,154 | €828 | -€326 | -28.3% |
| Gross operating margin | 9900 | €14,706 | €28,240 | +€13,535 | +92.0% |
| Operating profit (loss) | 9901 | €13,273 | €26,546 | +€13,273 | +100.0% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €112 | €111 | -€0 | -0.4% |
| Recurring financial charges | 65 | €112 | €111 | -€0 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €13,164 | €26,435 | +€13,271 | +101% |
| Income taxes | 67/77 | €721 | €11,265 | +€10,544 | +1,461% |
| Profit (loss) for the period | 9904 | €12,443 | €15,170 | +€2,727 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,443 | €15,170 | +€2,727 | +21.9% |
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.