MANACT: 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.
MANACT
Largest movements
- Cash +€16,406
up €16,406 (+674.5%), from €2,432 to €18,838
mainly Receivables within one year (+€15,055) and Net result for the year (+€7,240)
- Receivables within one year -€15,055
down €15,055 (-82.7%), from €18,209 to €3,154
of which Trade receivables: -€9,099
- Tangible fixed assets -€4,534
down €4,534 (-27.7%), from €16,388 to €11,855
- Deferred charges and accrued income -€4,105
down €4,105 (-23.5%), from €17,451 to €13,346
- Current investments +€1,209
up €1,209 (+1797.1%), from €67 to €1,276
- Other debts -€13,022
down €13,022 (-17.0%), from €76,465 to €63,443
- Profit (loss) carried forward +€7,240
up €7,240 (+12.2%), from -€59,494 to -€52,254
- Trade debts -€2,553
down €2,553 (-99.6%), from €2,564 to €12
- Accrued charges and deferred income +€1,544
up €1,544 (+9.7%), from €15,921 to €17,465
- Gross operating margin +€16,725
up €16,725, from -€1,809 to €14,916
- Depreciation +€5,474
up €5,474 (+1505.9%), from €364 to €5,837
- Other operating charges -€1,462
down €1,462 (-61.5%), from €2,376 to €914
- Taxes -€1,355
down €1,355, from €754 to -€601
- Financial charges -€157
down €157 (-9.3%), from €1,682 to €1,525
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 | €55,907 | €49,531 | -€6,376 | -11.4% |
| Fixed assets | 21/28 | €16,888 | €12,354 | -€4,534 | -26.8% |
| Tangible fixed assets | 22/27 | €16,388 | €11,855 | -€4,534 | -27.7% |
| Furniture and vehicles | 24 | €16,388 | €11,855 | -€4,534 | -27.7% |
| Financial fixed assets | 28 | €499 | €499 | = | 0.0% |
| Current assets | 29/58 | €39,020 | €37,177 | -€1,843 | -4.7% |
| Stocks and contracts in progress | 3 | €860 | €563 | -€296 | -34.5% |
| Stocks | 30/36 | €860 | €563 | -€296 | -34.5% |
| Amounts receivable within one year | 40/41 | €18,209 | €3,154 | -€15,055 | -82.7% |
| Trade receivables | 40 | €12,253 | €3,154 | -€9,099 | -74.3% |
| Other amounts receivable | 41 | €5,956 | €0 | -€5,956 | -100.0% |
| Current investments | 50/53 | €67 | €1,276 | +€1,209 | +1797.1% |
| Cash at bank and in hand | 54/58 | €2,432 | €18,838 | +€16,406 | +674.5% |
| Deferred charges and accrued income | 490/1 | €17,451 | €13,346 | -€4,105 | -23.5% |
| Total equity and liabilities | 10/49 | €55,907 | €49,531 | -€6,376 | -11.4% |
| Equity | 10/15 | -€39,043 | -€31,803 | +€7,240 | +18.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,494 | -€52,254 | +€7,240 | +12.2% |
| Amounts payable | 17/49 | €94,950 | €81,334 | -€13,616 | -14.3% |
| Amounts payable within one year | 42/48 | €79,029 | €63,869 | -€15,160 | -19.2% |
| Trade debts | 44 | €2,564 | €12 | -€2,553 | -99.6% |
| Suppliers | 440/4 | €2,564 | €12 | -€2,553 | -99.6% |
| Taxes, remuneration and social security | 45 | - | €414 | +€414 | |
| Taxes | 450/3 | - | €414 | +€414 | |
| Other amounts payable | 47/48 | €76,465 | €63,443 | -€13,022 | -17.0% |
| Accrued charges and deferred income | 492/3 | €15,921 | €17,465 | +€1,544 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €364 | €5,837 | +€5,474 | +1505.9% |
| Other operating charges | 640/8 | €2,376 | €914 | -€1,462 | -61.5% |
| Gross operating margin | 9900 | -€1,809 | €14,916 | +€16,725 | |
| Operating profit (loss) | 9901 | -€4,549 | €8,164 | +€12,713 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | €1,682 | €1,525 | -€157 | -9.3% |
| Recurring financial charges | 65 | €1,682 | €1,525 | -€157 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,225 | €6,639 | +€12,864 | |
| Income taxes | 67/77 | €754 | -€601 | -€1,355 | |
| Profit (loss) for the period | 9904 | -€6,979 | €7,240 | +€14,219 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,979 | €7,240 | +€14,219 |
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 30 September 2026 via checked.be.