MANAGIUM: 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.
MANAGIUM
Largest movements
- Current investments -€24,318
down €24,318 (-9.7%), from €250,012 to €225,694
- Reserves -€24,399
down €24,399 (-12.4%), from €196,242 to €171,843
of which Distributable reserves: -€24,399
- Trade debts -€5,524
no longer reported in 2025 (was €5,524)
- Gross operating margin -€260,423
down €260,423, from €249,287 to -€11,135
- Taxes -€32,373
no longer reported in 2025 (was €32,373)
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 | €308,155 | €281,037 | -€27,118 | -8.8% |
| Fixed assets | 21/28 | €51,328 | €48,305 | -€3,023 | -5.9% |
| Tangible fixed assets | 22/27 | €51,328 | €48,305 | -€3,023 | -5.9% |
| Land and buildings | 22 | €51,328 | €48,305 | -€3,023 | -5.9% |
| Current assets | 29/58 | €256,828 | €232,732 | -€24,095 | -9.4% |
| Amounts receivable within one year | 40/41 | - | €292 | +€292 | |
| Other amounts receivable | 41 | - | €292 | +€292 | |
| Current investments | 50/53 | €250,012 | €225,694 | -€24,318 | -9.7% |
| Cash at bank and in hand | 54/58 | €5,996 | €5,902 | -€93 | -1.6% |
| Deferred charges and accrued income | 490/1 | €820 | €844 | +€24 | +2.9% |
| Total equity and liabilities | 10/49 | €308,155 | €281,037 | -€27,118 | -8.8% |
| Equity | 10/15 | €214,834 | €190,435 | -€24,399 | -11.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €196,242 | €171,843 | -€24,399 | -12.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €194,382 | €169,984 | -€24,399 | -12.6% |
| Amounts payable | 17/49 | €93,321 | €90,602 | -€2,720 | -2.9% |
| Amounts payable after more than one year | 17 | €60,000 | €60,000 | = | 0.0% |
| Financial debts | 170/4 | €60,000 | €60,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,321 | €30,602 | -€2,720 | -8.2% |
| Trade debts | 44 | €5,524 | - | -€5,524 | |
| Suppliers | 440/4 | €5,524 | - | -€5,524 | |
| Taxes, remuneration and social security | 45 | €18,697 | €18,527 | -€169 | -0.9% |
| Taxes | 450/3 | €18,697 | €18,527 | -€169 | -0.9% |
| Other amounts payable | 47/48 | €9,101 | €12,074 | +€2,974 | +32.7% |
| Non-recurring operating income | 76A | €281,482 | - | -€281,482 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,005 | €4,502 | -€502 | -10.0% |
| Other operating charges | 640/8 | €6,486 | €5,266 | -€1,220 | -18.8% |
| Gross operating margin | 9900 | €249,287 | -€11,135 | -€260,423 | |
| Operating profit (loss) | 9901 | €237,796 | -€20,904 | -€258,700 | |
| Financial income | 75/76B | €400 | €975 | +€574 | +143.5% |
| Recurring financial income | 75 | €400 | €975 | +€574 | +143.5% |
| Financial charges | 65/66B | €5,056 | €4,469 | -€587 | -11.6% |
| Recurring financial charges | 65 | €5,056 | €4,469 | -€587 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €233,140 | -€24,399 | -€257,539 | |
| Income taxes | 67/77 | €32,373 | - | -€32,373 | |
| Profit (loss) for the period | 9904 | €200,767 | -€24,399 | -€225,165 | |
| Profit (loss) for the period to be appropriated | 9905 | €200,767 | -€24,399 | -€225,165 |
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.