MANADA: 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.
MANADA
Largest movements
- Tangible fixed assets -€9,033
down €9,033 (-24.5%), from €36,872 to €27,839
of which Plant, machinery and equipment: -€8,749
- Cash +€7,801
up €7,801 (+385.9%), from €2,021 to €9,822
mainly Depreciation (+€9,033) and Other debts (+€6,914)
- Receivables within one year -€2,135
down €2,135 (-83.4%), from €2,561 to €426
of which Other amounts receivable: -€1,200
- Other debts +€6,914
up €6,914 (+90.2%), from €7,669 to €14,584
- Debts after one year -€4,173
no longer reported in 2025 (was €4,173)
- Trade debts -€2,493
down €2,493 (-18.4%), from €13,565 to €11,072
- Profit (loss) carried forward -€1,790
down €1,790 (-173.2%), from -€1,034 to -€2,824
- Current portion of long-term debt -€1,223
down €1,223 (-22.7%), from €5,396 to €4,173
- Staff costs +€3,596
up €3,596 (+34.8%), from €10,330 to €13,925
- Gross operating margin -€3,275
down €3,275 (-11.5%), from €28,389 to €25,114
- Other operating charges +€1,838
up €1,838 (+447.9%), from €410 to €2,248
- Financial charges +€1,150
up €1,150 (+209.7%), from €548 to €1,698
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 | €41,454 | €38,087 | -€3,368 | -8.1% |
| Fixed assets | 21/28 | €36,872 | €27,839 | -€9,033 | -24.5% |
| Tangible fixed assets | 22/27 | €36,872 | €27,839 | -€9,033 | -24.5% |
| Plant, machinery and equipment | 23 | €34,996 | €26,247 | -€8,749 | -25.0% |
| Furniture and vehicles | 24 | €544 | €408 | -€136 | -25.0% |
| Other tangible fixed assets | 26 | €1,332 | €1,184 | -€148 | -11.1% |
| Current assets | 29/58 | €4,582 | €10,248 | +€5,665 | +123.6% |
| Amounts receivable within one year | 40/41 | €2,561 | €426 | -€2,135 | -83.4% |
| Trade receivables | 40 | €1,361 | €426 | -€935 | -68.7% |
| Other amounts receivable | 41 | €1,200 | - | -€1,200 | |
| Cash at bank and in hand | 54/58 | €2,021 | €9,822 | +€7,801 | +385.9% |
| Total equity and liabilities | 10/49 | €41,454 | €38,087 | -€3,368 | -8.1% |
| Equity | 10/15 | €5,164 | €3,373 | -€1,790 | -34.7% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,034 | -€2,824 | -€1,790 | -173.2% |
| Amounts payable | 17/49 | €36,291 | €34,714 | -€1,577 | -4.3% |
| Amounts payable after more than one year | 17 | €4,173 | - | -€4,173 | |
| Financial debts | 170/4 | €4,173 | - | -€4,173 | |
| Amounts payable within one year | 42/48 | €32,118 | €34,714 | +€2,596 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €5,396 | €4,173 | -€1,223 | -22.7% |
| Trade debts | 44 | €13,565 | €11,072 | -€2,493 | -18.4% |
| Suppliers | 440/4 | €13,565 | €11,072 | -€2,493 | -18.4% |
| Taxes, remuneration and social security | 45 | €5,488 | €4,884 | -€603 | -11.0% |
| Taxes | 450/3 | €4,953 | €3,287 | -€1,666 | -33.6% |
| Remuneration and social security | 454/9 | €535 | €1,598 | +€1,063 | +198.7% |
| Other amounts payable | 47/48 | €7,669 | €14,584 | +€6,914 | +90.2% |
| Remuneration, social security and pensions | 62 | €10,330 | €13,925 | +€3,596 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,033 | €9,033 | = | 0.0% |
| Other operating charges | 640/8 | €410 | €2,248 | +€1,838 | +447.9% |
| Gross operating margin | 9900 | €28,389 | €25,114 | -€3,275 | -11.5% |
| Operating profit (loss) | 9901 | €8,616 | -€92 | -€8,708 | |
| Financial charges | 65/66B | €548 | €1,698 | +€1,150 | +209.7% |
| Recurring financial charges | 65 | €548 | €1,698 | +€1,150 | +209.7% |
| Profit (loss) for the period before taxes | 9903 | €8,068 | -€1,790 | -€9,858 | |
| Profit (loss) for the period | 9904 | €8,068 | -€1,790 | -€9,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,068 | -€1,790 | -€9,858 |
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 8 October 2026 via checked.be.