MAN SERVICES: 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.
MAN SERVICES
Largest movements
- Receivables within one year -€63,554
down €63,554 (-77.9%), from €81,597 to €18,043
of which Trade receivables: -€42,406
- Receivables after one year +€51,500
new in 2025: €51,500
- Cash +€30,740
up €30,740 (+110.8%), from €27,743 to €58,483
mainly Trade debts (+€101,306) and Receivables within one year (+€63,554)
- Tangible fixed assets +€16,823
up €16,823 (+318.9%), from €5,275 to €22,098
of which Furniture and vehicles: +€15,730
- Deferred charges and accrued income -€6,246
down €6,246 (-40.0%), from €15,632 to €9,386
- Trade debts +€101,306
up €101,306 (+267.5%), from €37,877 to €139,183
- Tax, wage and social debts -€74,850
down €74,850 (-45.9%), from €162,956 to €88,106
of which Remuneration and social security: -€49,655
- Profit (loss) carried forward +€2,650
up €2,650 (+3.6%), from -€74,611 to -€71,961
- Gross operating margin +€52,468
up €52,468 (+11.3%), from €462,784 to €515,252
- Staff costs +€28,935
up €28,935 (+6.9%), from €420,876 to €449,811
- Other operating charges +€17,431
up €17,431 (+102.4%), from €17,027 to €34,458
- Financial charges +€15,291
up €15,291 (+138.3%), from €11,055 to €26,346
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 | €131,221 | €160,485 | +€29,264 | +22.3% |
| Fixed assets | 21/28 | €6,249 | €23,072 | +€16,823 | +269.2% |
| Tangible fixed assets | 22/27 | €5,275 | €22,098 | +€16,823 | +318.9% |
| Plant, machinery and equipment | 23 | €3,057 | €4,151 | +€1,094 | +35.8% |
| Furniture and vehicles | 24 | €2,218 | €17,947 | +€15,730 | +709.3% |
| Financial fixed assets | 28 | €974 | €974 | = | 0.0% |
| Current assets | 29/58 | €124,972 | €137,413 | +€12,440 | +10.0% |
| Amounts receivable after more than one year | 29 | - | €51,500 | +€51,500 | |
| Other amounts receivable | 291 | - | €51,500 | +€51,500 | |
| Amounts receivable within one year | 40/41 | €81,597 | €18,043 | -€63,554 | -77.9% |
| Trade receivables | 40 | €60,449 | €18,043 | -€42,406 | -70.2% |
| Other amounts receivable | 41 | €21,148 | - | -€21,148 | |
| Cash at bank and in hand | 54/58 | €27,743 | €58,483 | +€30,740 | +110.8% |
| Deferred charges and accrued income | 490/1 | €15,632 | €9,386 | -€6,246 | -40.0% |
| Total equity and liabilities | 10/49 | €131,221 | €160,485 | +€29,264 | +22.3% |
| Equity | 10/15 | -€69,611 | -€66,961 | +€2,650 | +3.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,611 | -€71,961 | +€2,650 | +3.6% |
| Amounts payable | 17/49 | €200,833 | €227,446 | +€26,614 | +13.3% |
| Amounts payable within one year | 42/48 | €200,833 | €227,446 | +€26,614 | +13.3% |
| Trade debts | 44 | €37,877 | €139,183 | +€101,306 | +267.5% |
| Suppliers | 440/4 | €37,877 | €139,183 | +€101,306 | +267.5% |
| Taxes, remuneration and social security | 45 | €162,956 | €88,106 | -€74,850 | -45.9% |
| Taxes | 450/3 | €62,471 | €37,276 | -€25,195 | -40.3% |
| Remuneration and social security | 454/9 | €100,485 | €50,830 | -€49,655 | -49.4% |
| Other amounts payable | 47/48 | - | €157 | +€157 | |
| Remuneration, social security and pensions | 62 | €420,876 | €449,811 | +€28,935 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,591 | €1,988 | +€397 | +24.9% |
| Other operating charges | 640/8 | €17,027 | €34,458 | +€17,431 | +102.4% |
| Gross operating margin | 9900 | €462,784 | €515,252 | +€52,468 | +11.3% |
| Operating profit (loss) | 9901 | €23,291 | €28,996 | +€5,705 | +24.5% |
| Financial income | 75/76B | €132 | €0 | -€132 | -100.0% |
| Recurring financial income | 75 | €132 | €0 | -€132 | -100.0% |
| Financial charges | 65/66B | €11,055 | €26,346 | +€15,291 | +138.3% |
| Recurring financial charges | 65 | €11,055 | €26,346 | +€15,291 | +138.3% |
| Profit (loss) for the period before taxes | 9903 | €12,368 | €2,650 | -€9,718 | -78.6% |
| Profit (loss) for the period | 9904 | €12,368 | €2,650 | -€9,718 | -78.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,368 | €2,650 | -€9,718 | -78.6% |
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 2 October 2026 via checked.be.