MAN-ENGINE: 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.
What changed
MAN-ENGINE
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €203,809+€1.3m
Equity
€1.0m
2024 · €279,422+€759,832
Cash
€48,698
2024 · €82,002-€33,304
Balance sheet total
€6.7m
2024 · €5.8m+€832,254
Largest movements
Assets
- Receivables after one year +€740,000
up €740,000 (+110.1%), from €672,066 to €1.4m
- Tangible fixed assets +€85,419
new in 2025: €85,419
Equity and liabilities
- Short-term financial debts +€1.0m
new in 2025: €1.0m
- Profit (loss) carried forward +€759,832
up €759,832 (+276.9%), from €274,422 to €1.0m
- Debts after one year -€544,270
down €544,270 (-12.8%), from €4.2m to €3.7m
of which Financial debts: -€544,270
- Other debts -€443,563
down €443,563 (-75.6%), from €586,724 to €143,161
Income statement
- Financial income +€1.5m
up €1.5m (+6335.7%), from €23,253 to €1.5m
- Turnover +€432,000
new in 2025: €432,000
- Financial charges +€174,189
up €174,189 (+134.0%), from €129,996 to €304,185
- Purchases and services +€76,682
new in 2025: €76,682
- Taxes -€40,555
down €40,555 (-64.1%), from €63,297 to €22,742
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.
Result 2024
€203,809
Gross operating margin
-€19,720
Depreciation
-€21,355
Other operating charges
-€844
Financial income
+€1.5m
Financial charges
-€174,189
Taxes
+€40,555
Result 2025
€1.5m
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.
From operations
+€311,538
Investment
-€106,774
Financing
-€238,068
Cash 2024
€82,002
From operations (derived)
+€311,538
Net result for the year
+€1.5m
Depreciation
+€21,355
Receivables after one year
-€740,000
Receivables within one year
-€24,465
Deferred charges and accrued income
-€15,674
Trade debts
-€3,680
Tax, wage and social debts
+€27,449
Other debts
-€443,563
Accrued charges and deferred income
-€11,373
Investment (derived)
-€106,774
Investment in fixed assets (net)
-€106,774
Financing
-€238,068
Debts after one year
-€544,270
Current portion of long-term debt
+€47,860
Short-term financial debts
+€1.0m
Contributions, distributions and other
-€741,658
Cash 2025
€48,698
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,819,851 | €6,652,104 | +€832,254 | +14.3% |
| Fixed assets | 21/28 | €5,041,909 | €5,127,328 | +€85,419 | +1.7% |
| Tangible fixed assets | 22/27 | - | €85,419 | +€85,419 | |
| Furniture and vehicles | 24 | - | €85,419 | +€85,419 | |
| Financial fixed assets | 28 | €5,041,909 | €5,041,909 | = | 0.0% |
| Current assets | 29/58 | €777,942 | €1,524,777 | +€746,835 | +96.0% |
| Amounts receivable after more than one year | 29 | €672,066 | €1,412,066 | +€740,000 | +110.1% |
| Other amounts receivable | 291 | €672,066 | €1,412,066 | +€740,000 | +110.1% |
| Amounts receivable within one year | 40/41 | €12,688 | €37,152 | +€24,465 | +192.8% |
| Trade receivables | 40 | €12,688 | €1,613 | -€11,075 | -87.3% |
| Other amounts receivable | 41 | - | €35,540 | +€35,540 | |
| Cash at bank and in hand | 54/58 | €82,002 | €48,698 | -€33,304 | -40.6% |
| Deferred charges and accrued income | 490/1 | €11,187 | €26,861 | +€15,674 | +140.1% |
| Total equity and liabilities | 10/49 | €5,819,851 | €6,652,104 | +€832,254 | +14.3% |
| Equity | 10/15 | €279,422 | €1,039,253 | +€759,832 | +271.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €274,422 | €1,034,253 | +€759,832 | +276.9% |
| Amounts payable | 17/49 | €5,540,429 | €5,612,851 | +€72,422 | +1.3% |
| Amounts payable after more than one year | 17 | €4,245,635 | €3,701,365 | -€544,270 | -12.8% |
| Financial debts | 170/4 | €3,795,635 | €3,251,365 | -€544,270 | -14.3% |
| Other amounts payable | 178/9 | €450,000 | €450,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,283,420 | €1,911,486 | +€628,065 | +48.9% |
| Current portion of amounts payable after more than one year | 42 | €574,145 | €622,005 | +€47,860 | +8.3% |
| Financial debts | 43 | - | €1,000,000 | +€1.0m | |
| Credit institutions | 430/8 | - | €1,000,000 | +€1.0m | |
| Trade debts | 44 | €11,624 | €7,943 | -€3,680 | -31.7% |
| Suppliers | 440/4 | €11,624 | €7,943 | -€3,680 | -31.7% |
| Taxes, remuneration and social security | 45 | €110,927 | €138,376 | +€27,449 | +24.7% |
| Taxes | 450/3 | €110,927 | €138,376 | +€27,449 | +24.7% |
| Other amounts payable | 47/48 | €586,724 | €143,161 | -€443,563 | -75.6% |
| Accrued charges and deferred income | 492/3 | €11,373 | - | -€11,373 | |
| Turnover | 70 | - | €432,000 | +€432,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €76,682 | +€76,682 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €21,355 | +€21,355 | |
| Other operating charges | 640/8 | €1,189 | €2,032 | +€844 | +71.0% |
| Gross operating margin | 9900 | €375,038 | €355,318 | -€19,720 | -5.3% |
| Operating profit (loss) | 9901 | €373,850 | €331,931 | -€41,919 | -11.2% |
| Financial income | 75/76B | €23,253 | €1,496,486 | +€1.5m | +6335.7% |
| Recurring financial income | 75 | €23,253 | €1,496,486 | +€1.5m | +6335.7% |
| Financial charges | 65/66B | €129,996 | €304,185 | +€174,189 | +134.0% |
| Recurring financial charges | 65 | €129,996 | €304,185 | +€174,189 | +134.0% |
| Profit (loss) for the period before taxes | 9903 | €267,107 | €1,524,232 | +€1.3m | +470.6% |
| Income taxes | 67/77 | €63,297 | €22,742 | -€40,555 | -64.1% |
| Profit (loss) for the period | 9904 | €203,809 | €1,501,490 | +€1.3m | +636.7% |
| Profit (loss) for the period to be appropriated | 9905 | €203,809 | €1,501,490 | +€1.3m | +636.7% |
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 3 October 2026 via checked.be.