Managements Partners: 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.
Managements Partners
Largest movements
- Tangible fixed assets +€24,608
up €24,608 (+110%), from €22,398 to €47,007
of which Furniture and vehicles: +€25,267
- Financial fixed assets +€7,000
up €7,000 (+7.0%), from €100,000 to €107,000
- Receivables within one year -€6,174
down €6,174 (-9.1%), from €68,169 to €61,995
of which Other amounts receivable: -€38,071
- Cash -€4,419
down €4,419 (-61.0%), from €7,243 to €2,824
mainly Tax, wage and social debts (-€47,618) and Investment in fixed assets (net) (-€39,011)
- Tax, wage and social debts -€47,618
down €47,618 (-64.9%), from €73,372 to €25,755
of which Taxes: -€49,534
- Other debts +€28,390
up €28,390 (+8,603%), from €330 to €28,720
- Trade debts +€26,577
up €26,577 (+387%), from €6,859 to €33,436
- Advances received +€20,375
new in 2025: €20,375
- Current portion of long-term debt -€7,320
no longer reported in 2025 (was €7,320)
- Turnover -€165,266
no longer reported in 2025 (was €165,266)
- Purchases and services -€68,608
no longer reported in 2025 (was €68,608)
- Gross operating margin -€34,217
down €34,217 (-35.4%), from €96,659 to €62,442
- Staff costs -€24,903
down €24,903 (-37.2%), from €66,917 to €42,014
- Financial charges +€5,935
up €5,935 (+200%), from €2,971 to €8,906
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 | €198,378 | €221,860 | +€23,482 | +11.8% |
| Fixed assets | 21/28 | €122,398 | €155,729 | +€33,331 | +27.2% |
| Intangible fixed assets | 21 | - | €1,723 | +€1,723 | |
| Tangible fixed assets | 22/27 | €22,398 | €47,007 | +€24,608 | +110% |
| Furniture and vehicles | 24 | €1,336 | €26,603 | +€25,267 | +1,891% |
| Other tangible fixed assets | 26 | €21,062 | €20,404 | -€658 | -3.1% |
| Financial fixed assets | 28 | €100,000 | €107,000 | +€7,000 | +7.0% |
| Current assets | 29/58 | €75,980 | €66,130 | -€9,850 | -13.0% |
| Amounts receivable within one year | 40/41 | €68,169 | €61,995 | -€6,174 | -9.1% |
| Trade receivables | 40 | €25,125 | €57,022 | +€31,897 | +127% |
| Other amounts receivable | 41 | €43,044 | €4,973 | -€38,071 | -88.4% |
| Cash at bank and in hand | 54/58 | €7,243 | €2,824 | -€4,419 | -61.0% |
| Deferred charges and accrued income | 490/1 | €568 | €1,312 | +€744 | +131% |
| Total equity and liabilities | 10/49 | €198,378 | €221,860 | +€23,482 | +11.8% |
| Equity | 10/15 | €91,863 | €94,940 | +€3,078 | +3.4% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €88,363 | €91,440 | +€3,078 | +3.5% |
| Distributable reserves | 133 | €88,363 | €91,440 | +€3,078 | +3.5% |
| Amounts payable | 17/49 | €106,515 | €126,919 | +€20,404 | +19.2% |
| Amounts payable after more than one year | 17 | €18,634 | €18,634 | = | 0.0% |
| Financial debts | 170/4 | €18,634 | €18,634 | = | 0.0% |
| Amounts payable within one year | 42/48 | €87,882 | €108,286 | +€20,404 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €7,320 | - | -€7,320 | |
| Trade debts | 44 | €6,859 | €33,436 | +€26,577 | +387% |
| Suppliers | 440/4 | €6,859 | €33,436 | +€26,577 | +387% |
| Advances received on contracts in progress | 46 | - | €20,375 | +€20,375 | |
| Taxes, remuneration and social security | 45 | €73,372 | €25,755 | -€47,618 | -64.9% |
| Taxes | 450/3 | €58,822 | €9,288 | -€49,534 | -84.2% |
| Remuneration and social security | 454/9 | €14,550 | €16,467 | +€1,917 | +13.2% |
| Other amounts payable | 47/48 | €330 | €28,720 | +€28,390 | +8,603% |
| Turnover | 70 | €165,266 | - | -€165,266 | |
| Goods, raw materials, services and sundry goods | 60/61 | €68,608 | - | -€68,608 | |
| Remuneration, social security and pensions | 62 | €66,917 | €42,014 | -€24,903 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €924 | €5,680 | +€4,756 | +515% |
| Other operating charges | 640/8 | €765 | €303 | -€462 | -60.3% |
| Gross operating margin | 9900 | €96,659 | €62,442 | -€34,217 | -35.4% |
| Operating profit (loss) | 9901 | €28,054 | €14,445 | -€13,608 | -48.5% |
| Financial income | 75/76B | €5 | €0 | -€5 | -93.2% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -93.2% |
| Financial charges | 65/66B | €2,971 | €8,906 | +€5,935 | +200% |
| Recurring financial charges | 65 | €2,971 | €8,906 | +€5,935 | +200% |
| Profit (loss) for the period before taxes | 9903 | €25,088 | €5,539 | -€19,549 | -77.9% |
| Income taxes | 67/77 | €6,826 | €2,462 | -€4,364 | -63.9% |
| Profit (loss) for the period | 9904 | €18,262 | €3,078 | -€15,184 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,262 | €3,078 | -€15,184 | -83.1% |
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 30 October 2026 via checked.be.