MAN@WORK: 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@WORK
Largest movements
- Current investments +€622,455
up €622,455 (+205.5%), from €302,864 to €925,319
- Cash -€314,201
down €314,201 (-85.5%), from €367,287 to €53,086
mainly Current investments (-€622,455) and Tax, wage and social debts (-€99,989)
- Receivables within one year -€123,903
down €123,903 (-11.1%), from €1.1m to €989,256
of which Trade receivables: -€194,916
- Reserves +€290,989
up €290,989 (+18.1%), from €1.6m to €1.9m
of which Distributable reserves: +€290,989
- Tax, wage and social debts -€99,989
down €99,989 (-63.1%), from €158,408 to €58,419
- Gross operating margin -€302,783
down €302,783 (-43.4%), from €698,300 to €395,517
- Taxes -€93,742
down €93,742 (-41.7%), from €225,059 to €131,318
- Financial income +€24,015
up €24,015 (+166.9%), from €14,393 to €38,408
- Other operating charges +€8,086
up €8,086 (+510.3%), from €1,585 to €9,671
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 | €1,788,965 | €1,979,807 | +€190,841 | +10.7% |
| Current assets | 29/58 | €1,788,965 | €1,979,807 | +€190,841 | +10.7% |
| Amounts receivable within one year | 40/41 | €1,113,159 | €989,256 | -€123,903 | -11.1% |
| Trade receivables | 40 | €931,162 | €736,247 | -€194,916 | -20.9% |
| Other amounts receivable | 41 | €181,996 | €253,009 | +€71,013 | +39.0% |
| Current investments | 50/53 | €302,864 | €925,319 | +€622,455 | +205.5% |
| Cash at bank and in hand | 54/58 | €367,287 | €53,086 | -€314,201 | -85.5% |
| Deferred charges and accrued income | 490/1 | €5,655 | €12,146 | +€6,490 | +114.8% |
| Total equity and liabilities | 10/49 | €1,788,965 | €1,979,807 | +€190,841 | +10.7% |
| Equity | 10/15 | €1,630,213 | €1,921,202 | +€290,989 | +17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,611,613 | €1,902,602 | +€290,989 | +18.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,609,753 | €1,900,742 | +€290,989 | +18.1% |
| Amounts payable | 17/49 | €158,752 | €58,605 | -€100,148 | -63.1% |
| Amounts payable within one year | 42/48 | €158,752 | €58,605 | -€100,148 | -63.1% |
| Trade debts | 44 | €345 | €186 | -€159 | -46.1% |
| Suppliers | 440/4 | €345 | €186 | -€159 | -46.1% |
| Taxes, remuneration and social security | 45 | €158,408 | €58,419 | -€99,989 | -63.1% |
| Taxes | 450/3 | €158,408 | €58,419 | -€99,989 | -63.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Other operating charges | 640/8 | €1,585 | €9,671 | +€8,086 | +510.3% |
| Gross operating margin | 9900 | €698,300 | €395,517 | -€302,783 | -43.4% |
| Operating profit (loss) | 9901 | €696,715 | €385,846 | -€310,869 | -44.6% |
| Financial income | 75/76B | €14,393 | €38,408 | +€24,015 | +166.9% |
| Recurring financial income | 75 | €14,393 | €38,408 | +€24,015 | +166.9% |
| Financial charges | 65/66B | €1,659 | €1,946 | +€287 | +17.3% |
| Recurring financial charges | 65 | €1,659 | €1,946 | +€287 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €709,449 | €422,307 | -€287,142 | -40.5% |
| Income taxes | 67/77 | €225,059 | €131,318 | -€93,742 | -41.7% |
| Profit (loss) for the period | 9904 | €484,389 | €290,989 | -€193,400 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €484,389 | €290,989 | -€193,400 | -39.9% |
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 12 October 2026 via checked.be.