MANA: 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.
MANA
Largest movements
- Receivables within one year -€328,151
down €328,151 (-9.9%), from €3.3m to €3.0m
of which Other amounts receivable: -€354,972
- Tangible fixed assets -€140,812
down €140,812 (-4.6%), from €3.1m to €2.9m
- Other debts -€297,684
down €297,684 (-100.0%), from €297,684 to €0
- Debts after one year -€296,492
down €296,492 (-7.2%), from €4.1m to €3.8m
of which Financial debts: -€296,492
- Profit (loss) carried forward +€196,236
up €196,236 (+137.9%), from €142,265 to €338,501
- Reserves -€69,103
down €69,103 (-7.0%), from €985,972 to €916,868
of which Tax-exempt reserves: -€69,103
- Gross operating margin -€87,498
down €87,498 (-19.0%), from €461,192 to €373,694
- Financial income -€44,665
down €44,665 (-24.5%), from €182,377 to €137,712
- Taxes -€32,059
down €32,059 (-31.2%), from €102,807 to €70,748
- Other operating charges +€12,392
up €12,392 (+20.0%), from €62,103 to €74,495
- Write-downs -€10,079
down €10,079 (-100.0%), from €10,079 to €0
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 | €6,488,055 | €6,010,629 | -€477,427 | -7.4% |
| Fixed assets | 21/28 | €3,072,972 | €2,932,161 | -€140,812 | -4.6% |
| Tangible fixed assets | 22/27 | €3,072,972 | €2,932,161 | -€140,812 | -4.6% |
| Land and buildings | 22 | €3,072,972 | €2,932,161 | -€140,812 | -4.6% |
| Current assets | 29/58 | €3,415,083 | €3,078,468 | -€336,615 | -9.9% |
| Amounts receivable within one year | 40/41 | €3,322,923 | €2,994,772 | -€328,151 | -9.9% |
| Trade receivables | 40 | €2,378 | €29,199 | +€26,821 | +1127.7% |
| Other amounts receivable | 41 | €3,320,544 | €2,965,572 | -€354,972 | -10.7% |
| Cash at bank and in hand | 54/58 | €77,924 | €77,377 | -€547 | -0.7% |
| Deferred charges and accrued income | 490/1 | €14,236 | €6,319 | -€7,917 | -55.6% |
| Total equity and liabilities | 10/49 | €6,488,055 | €6,010,629 | -€477,427 | -7.4% |
| Equity | 10/15 | €1,338,946 | €1,466,079 | +€127,132 | +9.5% |
| Contributions | 10/11 | €210,710 | €210,710 | = | 0.0% |
| Capital | 10 | €210,710 | €210,710 | = | 0.0% |
| Issued capital | 100 | €210,710 | €210,710 | = | 0.0% |
| Reserves | 13 | €985,972 | €916,868 | -€69,103 | -7.0% |
| Non-distributable reserves | 130/1 | €21,071 | €21,071 | = | 0.0% |
| Legal reserve | 130 | €21,071 | €21,071 | = | 0.0% |
| Tax-exempt reserves | 132 | €964,901 | €895,797 | -€69,103 | -7.2% |
| Profit (loss) carried forward | 14 | €142,265 | €338,501 | +€196,236 | +137.9% |
| Provisions and deferred taxes | 16 | €321,634 | €298,599 | -€23,034 | -7.2% |
| Deferred taxes | 168 | €321,634 | €298,599 | -€23,034 | -7.2% |
| Amounts payable | 17/49 | €4,827,476 | €4,245,951 | -€581,524 | -12.0% |
| Amounts payable after more than one year | 17 | €4,122,842 | €3,826,350 | -€296,492 | -7.2% |
| Financial debts | 170/4 | €4,087,217 | €3,790,725 | -€296,492 | -7.3% |
| Other amounts payable | 178/9 | €35,625 | €35,625 | = | 0.0% |
| Amounts payable within one year | 42/48 | €704,633 | €419,601 | -€285,032 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €296,492 | €296,492 | = | 0.0% |
| Trade debts | 44 | €53,293 | €59,748 | +€6,455 | +12.1% |
| Suppliers | 440/4 | €53,293 | €59,748 | +€6,455 | +12.1% |
| Advances received on contracts in progress | 46 | €7,178 | €32,614 | +€25,436 | +354.4% |
| Taxes, remuneration and social security | 45 | €49,987 | €30,748 | -€19,240 | -38.5% |
| Taxes | 450/3 | €49,987 | €30,748 | -€19,240 | -38.5% |
| Other amounts payable | 47/48 | €297,684 | €0 | -€297,684 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €12,765 | €0 | -€12,765 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,812 | €140,812 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,079 | €0 | -€10,079 | -100.0% |
| Other operating charges | 640/8 | €62,103 | €74,495 | +€12,392 | +20.0% |
| Non-recurring operating charges | 66A | €0 | €7,554 | +€7,554 | |
| Gross operating margin | 9900 | €461,192 | €373,694 | -€87,498 | -19.0% |
| Operating profit (loss) | 9901 | €248,198 | €150,832 | -€97,366 | -39.2% |
| Financial income | 75/76B | €182,377 | €137,712 | -€44,665 | -24.5% |
| Recurring financial income | 75 | €182,377 | €137,712 | -€44,665 | -24.5% |
| Financial charges | 65/66B | €122,286 | €113,699 | -€8,587 | -7.0% |
| Recurring financial charges | 65 | €122,286 | €113,699 | -€8,587 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €308,290 | €174,845 | -€133,445 | -43.3% |
| Transfer from deferred taxes | 780 | €23,050 | €23,034 | -€16 | -0.1% |
| Income taxes | 67/77 | €102,807 | €70,748 | -€32,059 | -31.2% |
| Profit (loss) for the period | 9904 | €228,534 | €127,132 | -€101,401 | -44.4% |
| Transfer from tax-exempt reserves | 789 | €69,151 | €69,103 | -€48 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €297,685 | €196,236 | -€101,449 | -34.1% |
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 5 October 2026 via checked.be.