Man van Staal: 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 van Staal
Largest movements
- Cash +€61,404
up €61,404 (+52.2%), from €117,558 to €178,962
mainly Net result for the year (+€73,079) and Advances received (+€60,000)
- Receivables within one year +€21,924
up €21,924 (+18.9%), from €115,905 to €137,829
of which Other amounts receivable: +€23,858
- Tangible fixed assets +€5,659
up €5,659 (+5.7%), from €98,452 to €104,111
of which Furniture and vehicles: +€13,090
- Reserves +€73,079
up €73,079 (+35.8%), from €203,901 to €276,980
- Advances received +€60,000
new in 2025: €60,000
- Accrued charges and deferred income -€50,357
down €50,357 (-50.2%), from €100,332 to €49,975
- Short-term financial debts +€11,887
new in 2025: €11,887
- Debts after one year -€9,443
down €9,443 (-7.9%), from €120,197 to €110,754
- Gross operating margin +€89,314
up €89,314 (+235%), from €37,969 to €127,283
- Taxes +€31,046
up €31,046, from -€2,198 to €28,849
- Depreciation +€4,678
up €4,678 (+28.0%), from €16,698 to €21,376
- Financial charges -€2,110
down €2,110 (-42.8%), from €4,926 to €2,816
of which Non-recurring financial charges: -€2,012
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 | €454,971 | €544,612 | +€89,642 | +19.7% |
| Fixed assets | 21/28 | €98,452 | €104,111 | +€5,659 | +5.7% |
| Tangible fixed assets | 22/27 | €98,452 | €104,111 | +€5,659 | +5.7% |
| Land and buildings | 22 | €95,286 | €79,774 | -€15,513 | -16.3% |
| Plant, machinery and equipment | 23 | €2,358 | €8,240 | +€5,881 | +249% |
| Furniture and vehicles | 24 | €808 | €13,898 | +€13,090 | +1,621% |
| Other tangible fixed assets | 26 | - | €2,200 | +€2,200 | |
| Current assets | 29/58 | €356,519 | €440,502 | +€83,983 | +23.6% |
| Amounts receivable after more than one year | 29 | €83,108 | €83,108 | = | 0.0% |
| Other amounts receivable | 291 | €83,108 | €83,108 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €115,905 | €137,829 | +€21,924 | +18.9% |
| Trade receivables | 40 | €10,787 | €8,853 | -€1,934 | -17.9% |
| Other amounts receivable | 41 | €105,118 | €128,976 | +€23,858 | +22.7% |
| Current investments | 50/53 | €39,948 | €39,948 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €117,558 | €178,962 | +€61,404 | +52.2% |
| Deferred charges and accrued income | 490/1 | - | €656 | +€656 | |
| Total equity and liabilities | 10/49 | €454,971 | €544,612 | +€89,642 | +19.7% |
| Equity | 10/15 | €210,101 | €283,180 | +€73,079 | +34.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €203,901 | €276,980 | +€73,079 | +35.8% |
| Distributable reserves | 133 | €203,901 | €276,980 | +€73,079 | +35.8% |
| Amounts payable | 17/49 | €244,870 | €261,432 | +€16,563 | +6.8% |
| Amounts payable after more than one year | 17 | €120,197 | €110,754 | -€9,443 | -7.9% |
| Financial debts | 170/4 | €120,197 | €110,754 | -€9,443 | -7.9% |
| Amounts payable within one year | 42/48 | €24,341 | €100,703 | +€76,362 | +314% |
| Current portion of amounts payable after more than one year | 42 | €9,295 | €9,443 | +€148 | +1.6% |
| Financial debts | 43 | - | €11,887 | +€11,887 | |
| Other loans | 439 | - | €11,887 | +€11,887 | |
| Trade debts | 44 | €5,861 | €7,702 | +€1,841 | +31.4% |
| Suppliers | 440/4 | €5,861 | €7,702 | +€1,841 | +31.4% |
| Advances received on contracts in progress | 46 | - | €60,000 | +€60,000 | |
| Taxes, remuneration and social security | 45 | €9,185 | €11,231 | +€2,046 | +22.3% |
| Taxes | 450/3 | €9,185 | €11,231 | +€2,046 | +22.3% |
| Other amounts payable | 47/48 | - | €440 | +€440 | |
| Accrued charges and deferred income | 492/3 | €100,332 | €49,975 | -€50,357 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,698 | €21,376 | +€4,678 | +28.0% |
| Other operating charges | 640/8 | €1,298 | €1,208 | -€90 | -6.9% |
| Gross operating margin | 9900 | €37,969 | €127,283 | +€89,314 | +235% |
| Operating profit (loss) | 9901 | €19,973 | €104,698 | +€84,726 | +424% |
| Financial income | 75/76B | €17 | €45 | +€29 | +174% |
| Recurring financial income | 75 | €17 | €45 | +€29 | +174% |
| Financial charges | 65/66B | €4,926 | €2,816 | -€2,110 | -42.8% |
| Recurring financial charges | 65 | €2,914 | €2,816 | -€98 | -3.3% |
| Non-recurring financial charges | 66B | €2,012 | - | -€2,012 | |
| Profit (loss) for the period before taxes | 9903 | €15,064 | €101,928 | +€86,864 | +577% |
| Income taxes | 67/77 | -€2,198 | €28,849 | +€31,046 | |
| Profit (loss) for the period | 9904 | €17,261 | €73,079 | +€55,818 | +323% |
| Profit (loss) for the period to be appropriated | 9905 | €17,261 | €73,079 | +€55,818 | +323% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.