MANADOM: 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.
MANADOM
Largest movements
- Cash +€30,942
up €30,942 (+81.9%), from €37,799 to €68,741
mainly Net result for the year (+€33,908) and Tax, wage and social debts (+€15,330)
- Financial fixed assets +€20,000
new in 2025: €20,000
- Tangible fixed assets -€5,845
down €5,845 (-21.7%), from €26,934 to €21,089
of which Furniture and vehicles: -€5,282
- Deferred charges and accrued income -€2,820
down €2,820 (-93.6%), from €3,013 to €193
- Receivables within one year +€1,600
up €1,600 (+16.2%), from €9,871 to €11,471
- Reserves +€33,908
new in 2025: €33,908
- Tax, wage and social debts +€15,330
up €15,330 (+75.3%), from €20,358 to €35,688
- Trade debts -€4,093
down €4,093 (-83.7%), from €4,893 to €800
- Other debts -€1,376
down €1,376 (-40.7%), from €3,379 to €2,002
- Gross operating margin -€14,523
down €14,523 (-20.9%), from €69,443 to €54,920
- Depreciation +€736
up €736 (+14.4%), from €5,110 to €5,845
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 | €77,617 | €121,494 | +€43,878 | +56.5% |
| Fixed assets | 21/28 | €26,934 | €41,089 | +€14,155 | +52.6% |
| Tangible fixed assets | 22/27 | €26,934 | €21,089 | -€5,845 | -21.7% |
| Furniture and vehicles | 24 | €21,776 | €16,494 | -€5,282 | -24.3% |
| Other tangible fixed assets | 26 | €5,158 | €4,594 | -€564 | -10.9% |
| Financial fixed assets | 28 | - | €20,000 | +€20,000 | |
| Current assets | 29/58 | €50,683 | €80,406 | +€29,723 | +58.6% |
| Amounts receivable within one year | 40/41 | €9,871 | €11,471 | +€1,600 | +16.2% |
| Trade receivables | 40 | €9,871 | €11,471 | +€1,600 | +16.2% |
| Cash at bank and in hand | 54/58 | €37,799 | €68,741 | +€30,942 | +81.9% |
| Deferred charges and accrued income | 490/1 | €3,013 | €193 | -€2,820 | -93.6% |
| Total equity and liabilities | 10/49 | €77,617 | €121,494 | +€43,878 | +56.5% |
| Equity | 10/15 | €48,988 | €82,896 | +€33,908 | +69.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | - | €33,908 | +€33,908 | |
| Distributable reserves | 133 | - | €33,908 | +€33,908 | |
| Profit (loss) carried forward | 14 | €48,888 | €48,888 | = | 0.0% |
| Amounts payable | 17/49 | €28,629 | €38,599 | +€9,970 | +34.8% |
| Amounts payable within one year | 42/48 | €28,629 | €38,599 | +€9,970 | +34.8% |
| Financial debts | 43 | - | €109 | +€109 | |
| Credit institutions | 430/8 | - | €109 | +€109 | |
| Trade debts | 44 | €4,893 | €800 | -€4,093 | -83.7% |
| Suppliers | 440/4 | €4,893 | €800 | -€4,093 | -83.7% |
| Taxes, remuneration and social security | 45 | €20,358 | €35,688 | +€15,330 | +75.3% |
| Taxes | 450/3 | €20,358 | €35,688 | +€15,330 | +75.3% |
| Other amounts payable | 47/48 | €3,379 | €2,002 | -€1,376 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,110 | €5,845 | +€736 | +14.4% |
| Other operating charges | 640/8 | €612 | €366 | -€246 | -40.2% |
| Gross operating margin | 9900 | €69,443 | €54,920 | -€14,523 | -20.9% |
| Operating profit (loss) | 9901 | €63,721 | €48,709 | -€15,012 | -23.6% |
| Financial income | 75/76B | - | €271 | +€271 | |
| Recurring financial income | 75 | - | €271 | +€271 | |
| Financial charges | 65/66B | €162 | €185 | +€23 | +14.0% |
| Recurring financial charges | 65 | €162 | €185 | +€23 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €63,559 | €48,795 | -€14,764 | -23.2% |
| Income taxes | 67/77 | €14,672 | €14,887 | +€215 | +1.5% |
| Profit (loss) for the period | 9904 | €48,888 | €33,908 | -€14,980 | -30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,888 | €33,908 | -€14,980 | -30.6% |
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 3 October 2026 via checked.be.