Manaccon: 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.
Manaccon
Largest movements
- Receivables within one year +€34,658
up €34,658 (+232%), from €14,936 to €49,595
- Debts after one year +€809,245
up €809,245, from €0 to €809,245
- Reserves -€688,500
down €688,500 (-31.0%), from €2.2m to €1.5m
- Current portion of long-term debt -€115,000
down €115,000 (-100%), from €115,000 to €0
- Financial income +€100,396
up €100,396 (+50.0%), from €200,630 to €301,026
- Taxes -€36,313
down €36,313 (-59.6%), from €60,908 to €24,595
- Gross operating margin -€32,078
down €32,078 (-17.4%), from €184,833 to €152,756
- Other operating charges -€31,269
down €31,269 (-95.1%), from €32,880 to €1,611
- Financial charges +€25,696
up €25,696 (+348%), from €7,381 to €33,077
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 | €2,356,442 | €2,398,976 | +€42,534 | +1.8% |
| Fixed assets | 21/28 | €2,315,372 | €2,318,441 | +€3,069 | +0.1% |
| Tangible fixed assets | 22/27 | €12,802 | €15,871 | +€3,069 | +24.0% |
| Plant, machinery and equipment | 23 | €1,697 | €5,197 | +€3,500 | +206% |
| Furniture and vehicles | 24 | €884 | €846 | -€38 | -4.2% |
| Other tangible fixed assets | 26 | €10,221 | €9,827 | -€393 | -3.8% |
| Financial fixed assets | 28 | €2,302,570 | €2,302,570 | = | 0.0% |
| Current assets | 29/58 | €41,070 | €80,535 | +€39,465 | +96.1% |
| Amounts receivable within one year | 40/41 | €14,936 | €49,595 | +€34,658 | +232% |
| Other amounts receivable | 41 | €14,936 | €49,595 | +€34,658 | +232% |
| Cash at bank and in hand | 54/58 | €25,007 | €30,258 | +€5,251 | +21.0% |
| Deferred charges and accrued income | 490/1 | €1,127 | €683 | -€444 | -39.4% |
| Total equity and liabilities | 10/49 | €2,356,442 | €2,398,976 | +€42,534 | +1.8% |
| Equity | 10/15 | €2,241,041 | €1,550,541 | -€690,500 | -30.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,219,000 | €1,530,500 | -€688,500 | -31.0% |
| Distributable reserves | 133 | €2,219,000 | €1,530,500 | -€688,500 | -31.0% |
| Profit (loss) carried forward | 14 | €2,041 | €41 | -€2,000 | -98.0% |
| Amounts payable | 17/49 | €115,401 | €848,435 | +€733,034 | +635% |
| Amounts payable after more than one year | 17 | €0 | €809,245 | +€809,245 | |
| Financial debts | 170/4 | €0 | €809,245 | +€809,245 | |
| Amounts payable within one year | 42/48 | €115,091 | €38,369 | -€76,722 | -66.7% |
| Current portion of amounts payable after more than one year | 42 | €115,000 | €0 | -€115,000 | -100% |
| Trade debts | 44 | €53 | €58 | +€5 | +9.1% |
| Suppliers | 440/4 | €53 | €58 | +€5 | +9.1% |
| Taxes, remuneration and social security | 45 | €37 | €16,548 | +€16,510 | +44,039% |
| Taxes | 450/3 | €37 | €13,216 | +€13,178 | +35,151% |
| Remuneration and social security | 454/9 | - | €3,332 | +€3,332 | |
| Other amounts payable | 47/48 | - | €21,763 | +€21,763 | |
| Accrued charges and deferred income | 492/3 | €310 | €821 | +€511 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,784 | €2,499 | +€715 | +40.1% |
| Other operating charges | 640/8 | €32,880 | €1,611 | -€31,269 | -95.1% |
| Gross operating margin | 9900 | €184,833 | €152,756 | -€32,078 | -17.4% |
| Operating profit (loss) | 9901 | €150,170 | €148,646 | -€1,524 | -1.0% |
| Financial income | 75/76B | €200,630 | €301,026 | +€100,396 | +50.0% |
| Recurring financial income | 75 | €200,630 | €301,026 | +€100,396 | +50.0% |
| Financial charges | 65/66B | €7,381 | €33,077 | +€25,696 | +348% |
| Recurring financial charges | 65 | €7,381 | €33,077 | +€25,696 | +348% |
| Profit (loss) for the period before taxes | 9903 | €343,419 | €416,595 | +€73,176 | +21.3% |
| Income taxes | 67/77 | €60,908 | €24,595 | -€36,313 | -59.6% |
| Profit (loss) for the period | 9904 | €282,511 | €392,000 | +€109,489 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €282,511 | €392,000 | +€109,489 | +38.8% |
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 15 October 2026 via checked.be.