MANA POEA: 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.
MANA POEA
Largest movements
- Cash +€217,544
up €217,544 (+555%), from €39,216 to €256,761
mainly Net result for the year (+€115,741) and Investment in fixed assets (net) (+€39,601)
- Tangible fixed assets -€75,072
down €75,072 (-49.8%), from €150,645 to €75,573
of which Land and buildings: -€73,300
- Receivables within one year +€8,464
up €8,464 (+104%), from €8,148 to €16,612
of which Other amounts receivable: +€9,119
- Reserves +€90,000
up €90,000 (+62.4%), from €144,270 to €234,270
of which Distributable reserves: +€90,000
- Profit (loss) carried forward +€25,741
up €25,741, from -€22,253 to €3,488
- Trade debts +€25,504
up €25,504 (+2,140%), from €1,192 to €26,696
- Other debts +€10,985
up €10,985 (+21.5%), from €51,079 to €62,064
- Gross operating margin +€241,312
up €241,312 (+1,219%), from €19,801 to €261,112
- Taxes +€33,270
up €33,270 (+4,555%), from €730 to €34,000
- Depreciation -€6,514
down €6,514 (-15.5%), from €41,985 to €35,471
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 | €198,208 | €349,145 | +€150,937 | +76.2% |
| Fixed assets | 21/28 | €150,844 | €75,772 | -€75,072 | -49.8% |
| Tangible fixed assets | 22/27 | €150,645 | €75,573 | -€75,072 | -49.8% |
| Land and buildings | 22 | €73,300 | - | -€73,300 | |
| Plant, machinery and equipment | 23 | €1,581 | €9,074 | +€7,493 | +474% |
| Furniture and vehicles | 24 | €75,764 | €66,500 | -€9,265 | -12.2% |
| Financial fixed assets | 28 | €199 | €199 | = | 0.0% |
| Current assets | 29/58 | €47,364 | €273,373 | +€226,008 | +477% |
| Amounts receivable within one year | 40/41 | €8,148 | €16,612 | +€8,464 | +104% |
| Trade receivables | 40 | €1,522 | €867 | -€655 | -43.0% |
| Other amounts receivable | 41 | €6,626 | €15,745 | +€9,119 | +138% |
| Cash at bank and in hand | 54/58 | €39,216 | €256,761 | +€217,544 | +555% |
| Total equity and liabilities | 10/49 | €198,208 | €349,145 | +€150,937 | +76.2% |
| Equity | 10/15 | €142,717 | €258,458 | +€115,741 | +81.1% |
| Contributions | 10/11 | €20,700 | €20,700 | = | 0.0% |
| Reserves | 13 | €144,270 | €234,270 | +€90,000 | +62.4% |
| Tax-exempt reserves | 132 | €7,200 | €7,200 | = | 0.0% |
| Distributable reserves | 133 | €137,070 | €227,070 | +€90,000 | +65.7% |
| Profit (loss) carried forward | 14 | -€22,253 | €3,488 | +€25,741 | |
| Amounts payable | 17/49 | €55,491 | €90,687 | +€35,196 | +63.4% |
| Amounts payable within one year | 42/48 | €54,198 | €90,687 | +€36,489 | +67.3% |
| Trade debts | 44 | €1,192 | €26,696 | +€25,504 | +2,140% |
| Suppliers | 440/4 | €1,192 | €26,696 | +€25,504 | +2,140% |
| Advances received on contracts in progress | 46 | €1,070 | €1,070 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €857 | €857 | = | 0.0% |
| Taxes | 450/3 | €857 | €857 | = | 0.0% |
| Other amounts payable | 47/48 | €51,079 | €62,064 | +€10,985 | +21.5% |
| Accrued charges and deferred income | 492/3 | €1,293 | - | -€1,293 | |
| Non-recurring operating income | 76A | - | €247,438 | +€247,438 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,985 | €35,471 | -€6,514 | -15.5% |
| Other operating charges | 640/8 | €3,098 | €2,661 | -€437 | -14.1% |
| Non-recurring operating charges | 66A | - | €73,300 | +€73,300 | |
| Gross operating margin | 9900 | €19,801 | €261,112 | +€241,312 | +1,219% |
| Operating profit (loss) | 9901 | -€25,282 | €149,680 | +€174,962 | |
| Financial income | 75/76B | €104 | €164 | +€60 | +57.7% |
| Recurring financial income | 75 | €104 | €164 | +€60 | +57.7% |
| Non-recurring financial income | 76B | €104 | €164 | +€60 | +57.7% |
| Financial charges | 65/66B | €46 | €104 | +€58 | +127% |
| Recurring financial charges | 65 | €46 | €104 | +€58 | +127% |
| Non-recurring financial charges | 66B | €46 | €104 | +€58 | +127% |
| Profit (loss) for the period before taxes | 9903 | -€25,224 | €149,741 | +€174,965 | |
| Income taxes | 67/77 | €730 | €34,000 | +€33,270 | +4,555% |
| Profit (loss) for the period | 9904 | -€25,954 | €115,741 | +€141,695 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,954 | €115,741 | +€141,695 |
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 18 October 2026 via checked.be.