MANABU: 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.
MANABU
Largest movements
- Cash -€702,975
down €702,975 (-79.1%), from €888,541 to €185,566
mainly Other debts (-€2.0m) and Receivables within one year (-€700,024)
- Receivables within one year +€700,024
up €700,024 (+425.4%), from €164,565 to €864,589
of which Other amounts receivable: +€711,594
- Financial fixed assets +€58,264
up €58,264 (+4.0%), from €1.5m to €1.5m
- Profit (loss) carried forward +€2.0m
up €2.0m (+523.2%), from €387,002 to €2.4m
- Other debts -€2.0m
down €2.0m (-98.0%), from €2.0m to €39,891
- Financial income -€299,366
down €299,366 (-12.5%), from €2.4m to €2.1m
- Gross operating margin -€21,911
down €21,911 (-48.3%), from -€45,397 to -€67,308
- Depreciation +€3,191
up €3,191 (+221.2%), from €1,443 to €4,634
- Other operating charges -€2,646
down €2,646 (-34.5%), from €7,670 to €5,025
- Taxes -€934
no longer reported in 2025 (was €934)
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 | €2,539,567 | €2,594,154 | +€54,587 | +2.1% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,486,462 | €1,543,999 | +€57,538 | +3.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €19,459 | €18,733 | -€726 | -3.7% |
| Furniture and vehicles | 24 | €19,459 | €18,733 | -€726 | -3.7% |
| Financial fixed assets | 28 | €1,467,003 | €1,525,267 | +€58,264 | +4.0% |
| Current assets | 29/58 | €1,053,105 | €1,050,155 | -€2,951 | -0.3% |
| Amounts receivable within one year | 40/41 | €164,565 | €864,589 | +€700,024 | +425.4% |
| Trade receivables | 40 | €55,492 | €43,922 | -€11,570 | -20.8% |
| Other amounts receivable | 41 | €109,073 | €820,667 | +€711,594 | +652.4% |
| Cash at bank and in hand | 54/58 | €888,541 | €185,566 | -€702,975 | -79.1% |
| Total equity and liabilities | 10/49 | €2,539,567 | €2,594,154 | +€54,587 | +2.1% |
| Equity | 10/15 | €515,112 | €2,539,857 | +€2.0m | +393.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,510 | €109,510 | = | 0.0% |
| 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 | €107,650 | €107,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €387,002 | €2,411,747 | +€2.0m | +523.2% |
| Amounts payable | 17/49 | €2,024,455 | €54,297 | -€2.0m | -97.3% |
| Amounts payable within one year | 42/48 | €2,024,455 | €54,297 | -€2.0m | -97.3% |
| Trade debts | 44 | €2,296 | €9,487 | +€7,191 | +313.2% |
| Suppliers | 440/4 | €2,296 | €9,487 | +€7,191 | +313.2% |
| Taxes, remuneration and social security | 45 | €22,159 | €4,919 | -€17,240 | -77.8% |
| Taxes | 450/3 | €7,462 | €4,919 | -€2,543 | -34.1% |
| Remuneration and social security | 454/9 | €14,697 | - | -€14,697 | |
| Other amounts payable | 47/48 | €2,000,000 | €39,891 | -€2.0m | -98.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,443 | €4,634 | +€3,191 | +221.2% |
| Other operating charges | 640/8 | €7,670 | €5,025 | -€2,646 | -34.5% |
| Non-recurring operating charges | 66A | - | €13 | +€13 | |
| Gross operating margin | 9900 | -€45,397 | -€67,308 | -€21,911 | -48.3% |
| Operating profit (loss) | 9901 | -€54,510 | -€76,979 | -€22,469 | -41.2% |
| Financial income | 75/76B | €2,401,458 | €2,102,093 | -€299,366 | -12.5% |
| Recurring financial income | 75 | €2,401,458 | €2,102,093 | -€299,366 | -12.5% |
| Financial charges | 65/66B | €615 | €369 | -€246 | -40.0% |
| Recurring financial charges | 65 | €532 | €369 | -€163 | -30.6% |
| Non-recurring financial charges | 66B | €83 | - | -€83 | |
| Profit (loss) for the period before taxes | 9903 | €2,346,334 | €2,024,745 | -€321,589 | -13.7% |
| Income taxes | 67/77 | €934 | - | -€934 | |
| Profit (loss) for the period | 9904 | €2,345,400 | €2,024,745 | -€320,655 | -13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,345,400 | €2,024,745 | -€320,655 | -13.7% |
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.