MANAG'INATION: 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.
MANAG'INATION
Largest movements
- Receivables within one year -€39,549
down €39,549 (-99.7%), from €39,649 to €99
of which Trade receivables: -€29,614
- Tangible fixed assets -€32,650
down €32,650 (-34.9%), from €93,540 to €60,889
of which Furniture and vehicles: -€31,074
- Cash +€2,749
up €2,749 (+4.9%), from €56,026 to €58,775
mainly Receivables within one year (+€39,549) and Depreciation (+€32,650)
- Tax, wage and social debts -€36,516
down €36,516 (-99.1%), from €36,853 to €337
- Profit (loss) carried forward -€14,404
down €14,404, from €1,657 to -€12,748
- Debts after one year -€12,741
down €12,741 (-49.0%), from €26,004 to €13,263
- Current portion of long-term debt -€3,562
down €3,562 (-21.8%), from €16,303 to €12,741
- Other debts -€2,089
down €2,089 (-1.9%), from €107,422 to €105,333
- Gross operating margin -€29,956
down €29,956 (-59.2%), from €50,568 to €20,611
- Other operating charges -€10,010
down €10,010 (-94.4%), from €10,599 to €589
- Taxes -€1,629
down €1,629 (-82.9%), from €1,965 to €337
- Depreciation -€1,457
down €1,457 (-4.3%), from €34,107 to €32,650
- Financial charges -€800
down €800 (-35.7%), from €2,239 to €1,440
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 | €191,745 | €121,973 | -€69,772 | -36.4% |
| Fixed assets | 21/28 | €93,540 | €60,889 | -€32,650 | -34.9% |
| Tangible fixed assets | 22/27 | €93,540 | €60,889 | -€32,650 | -34.9% |
| Furniture and vehicles | 24 | €89,480 | €58,406 | -€31,074 | -34.7% |
| Other tangible fixed assets | 26 | €4,060 | €2,483 | -€1,577 | -38.8% |
| Current assets | 29/58 | €98,206 | €61,084 | -€37,122 | -37.8% |
| Amounts receivable within one year | 40/41 | €39,649 | €99 | -€39,549 | -99.7% |
| Trade receivables | 40 | €29,614 | - | -€29,614 | |
| Other amounts receivable | 41 | €10,035 | €99 | -€9,935 | -99.0% |
| Cash at bank and in hand | 54/58 | €56,026 | €58,775 | +€2,749 | +4.9% |
| Deferred charges and accrued income | 490/1 | €2,531 | €2,210 | -€321 | -12.7% |
| Total equity and liabilities | 10/49 | €191,745 | €121,973 | -€69,772 | -36.4% |
| Equity | 10/15 | €3,657 | -€10,748 | -€14,404 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,657 | -€12,748 | -€14,404 | |
| Amounts payable | 17/49 | €188,089 | €132,721 | -€55,368 | -29.4% |
| Amounts payable after more than one year | 17 | €26,004 | €13,263 | -€12,741 | -49.0% |
| Financial debts | 170/4 | €26,004 | €13,263 | -€12,741 | -49.0% |
| Amounts payable within one year | 42/48 | €161,071 | €118,565 | -€42,506 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €16,303 | €12,741 | -€3,562 | -21.8% |
| Trade debts | 44 | €493 | €155 | -€338 | -68.6% |
| Suppliers | 440/4 | €493 | €155 | -€338 | -68.6% |
| Taxes, remuneration and social security | 45 | €36,853 | €337 | -€36,516 | -99.1% |
| Taxes | 450/3 | €36,853 | €337 | -€36,516 | -99.1% |
| Other amounts payable | 47/48 | €107,422 | €105,333 | -€2,089 | -1.9% |
| Accrued charges and deferred income | 492/3 | €1,014 | €893 | -€121 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,107 | €32,650 | -€1,457 | -4.3% |
| Other operating charges | 640/8 | €10,599 | €589 | -€10,010 | -94.4% |
| Gross operating margin | 9900 | €50,568 | €20,611 | -€29,956 | -59.2% |
| Operating profit (loss) | 9901 | €5,861 | -€12,628 | -€18,489 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -60.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -60.0% |
| Financial charges | 65/66B | €2,239 | €1,440 | -€800 | -35.7% |
| Recurring financial charges | 65 | €2,239 | €1,440 | -€800 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | €3,622 | -€14,068 | -€17,690 | |
| Income taxes | 67/77 | €1,965 | €337 | -€1,629 | -82.9% |
| Profit (loss) for the period | 9904 | €1,657 | -€14,404 | -€16,061 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,657 | -€14,404 | -€16,061 |
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 10 October 2026 via checked.be.