MANAG&O: 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&O
Largest movements
- Tangible fixed assets +€62,864
up €62,864 (+1,553%), from €4,048 to €66,913
of which Leasing and similar rights: +€49,481
- Receivables within one year +€15,391
up €15,391 (+34.8%), from €44,194 to €59,585
of which Trade receivables: +€9,222
- Current investments -€2,296
down €2,296 (-6.3%), from €36,184 to €33,889
- Profit (loss) carried forward +€48,927
up €48,927 (+49.4%), from €99,001 to €147,928
- Debts after one year +€27,002
new in 2025: €27,002
- Other debts -€2,381
down €2,381 (-47.6%), from €5,000 to €2,619
- Gross operating margin +€25,286
up €25,286 (+50.0%), from €50,528 to €75,814
- Taxes +€3,505
up €3,505 (+32.1%), from €10,935 to €14,440
- Financial charges +€2,893
up €2,893 (+318%), from €910 to €3,804
of which Non-recurring financial charges: +€3,004
- Depreciation +€2,079
up €2,079 (+124%), from €1,675 to €3,755
- Other operating charges +€1,681
up €1,681 (+337%), from €499 to €2,180
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 | €130,448 | €207,642 | +€77,194 | +59.2% |
| Fixed assets | 21/28 | €45,319 | €108,184 | +€62,864 | +139% |
| Tangible fixed assets | 22/27 | €4,048 | €66,913 | +€62,864 | +1,553% |
| Furniture and vehicles | 24 | €2,988 | €1,669 | -€1,319 | -44.1% |
| Leasing and similar rights | 25 | - | €49,481 | +€49,481 | |
| Other tangible fixed assets | 26 | €1,060 | €15,762 | +€14,702 | +1,387% |
| Financial fixed assets | 28 | €41,271 | €41,271 | = | 0.0% |
| Current assets | 29/58 | €85,128 | €99,459 | +€14,330 | +16.8% |
| Amounts receivable within one year | 40/41 | €44,194 | €59,585 | +€15,391 | +34.8% |
| Trade receivables | 40 | €41,977 | €51,200 | +€9,222 | +22.0% |
| Other amounts receivable | 41 | €2,217 | €8,386 | +€6,169 | +278% |
| Current investments | 50/53 | €36,184 | €33,889 | -€2,296 | -6.3% |
| Cash at bank and in hand | 54/58 | €2,780 | €3,901 | +€1,121 | +40.3% |
| Deferred charges and accrued income | 490/1 | €1,970 | €2,084 | +€114 | +5.8% |
| Total equity and liabilities | 10/49 | €130,448 | €207,642 | +€77,194 | +59.2% |
| Equity | 10/15 | €107,001 | €155,928 | +€48,927 | +45.7% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,001 | €147,928 | +€48,927 | +49.4% |
| Amounts payable | 17/49 | €23,447 | €51,714 | +€28,267 | +121% |
| Amounts payable after more than one year | 17 | - | €27,002 | +€27,002 | |
| Financial debts | 170/4 | - | €27,002 | +€27,002 | |
| Amounts payable within one year | 42/48 | €23,447 | €24,658 | +€1,211 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €6,232 | €8,248 | +€2,016 | +32.4% |
| Trade debts | 44 | €3,596 | €5,039 | +€1,444 | +40.2% |
| Suppliers | 440/4 | €3,596 | €5,039 | +€1,444 | +40.2% |
| Taxes, remuneration and social security | 45 | €8,619 | €8,751 | +€132 | +1.5% |
| Taxes | 450/3 | €8,619 | €8,751 | +€132 | +1.5% |
| Other amounts payable | 47/48 | €5,000 | €2,619 | -€2,381 | -47.6% |
| Accrued charges and deferred income | 492/3 | - | €54 | +€54 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €3,755 | +€2,079 | +124% |
| Other operating charges | 640/8 | €499 | €2,180 | +€1,681 | +337% |
| Gross operating margin | 9900 | €50,528 | €75,814 | +€25,286 | +50.0% |
| Operating profit (loss) | 9901 | €48,354 | €69,879 | +€21,525 | +44.5% |
| Financial income | 75/76B | €158 | €292 | +€134 | +85.0% |
| Recurring financial income | 75 | €158 | €292 | +€134 | +85.0% |
| Financial charges | 65/66B | €910 | €3,804 | +€2,893 | +318% |
| Recurring financial charges | 65 | €910 | €800 | -€110 | -12.1% |
| Non-recurring financial charges | 66B | - | €3,004 | +€3,004 | |
| Profit (loss) for the period before taxes | 9903 | €47,602 | €66,367 | +€18,766 | +39.4% |
| Income taxes | 67/77 | €10,935 | €14,440 | +€3,505 | +32.1% |
| Profit (loss) for the period | 9904 | €36,666 | €51,927 | +€15,261 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,666 | €51,927 | +€15,261 | +41.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.