MANAL: 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.
MANAL
Largest movements
- Receivables within one year +€340,733
up €340,733 (+924%), from €36,881 to €377,614
of which Trade receivables: +€204,484
- Stocks and contracts -€103,546
down €103,546 (-75.3%), from €137,517 to €33,972
- Cash +€57,016
up €57,016 (+69.5%), from €81,989 to €139,005
mainly Trade debts (+€184,355) and Stocks and contracts (+€103,546)
- Trade debts +€184,355
up €184,355 (+146%), from €126,078 to €310,433
of which Suppliers: +€155,463
- Advances received +€80,573
new in 2024: €80,573
- Tax, wage and social debts +€23,793
up €23,793 (+227%), from €10,487 to €34,280
of which Remuneration and social security: +€24,168
- Profit (loss) carried forward +€7,584
up €7,584 (+8.3%), from €91,179 to €98,762
- Other operating charges -€126,776
down €126,776 (-59.8%), from €211,896 to €85,120
- Gross operating margin -€75,681
down €75,681 (-25.1%), from €301,893 to €226,212
- Staff costs +€70,557
up €70,557 (+117%), from €60,140 to €130,697
- Taxes -€4,372
no longer reported in 2024 (was €4,372)
- Financial income -€3,628
down €3,628 (-97.8%), from €3,711 to €83
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €267,118 | €561,559 | +€294,441 | +110% |
| Fixed assets | 21/28 | €10,731 | €10,969 | +€238 | +2.2% |
| Tangible fixed assets | 22/27 | €10,731 | €10,969 | +€238 | +2.2% |
| Plant, machinery and equipment | 23 | €10,731 | €10,969 | +€238 | +2.2% |
| Current assets | 29/58 | €256,387 | €550,590 | +€294,203 | +115% |
| Stocks and contracts in progress | 3 | €137,517 | €33,972 | -€103,546 | -75.3% |
| Stocks | 30/36 | €137,517 | €33,972 | -€103,546 | -75.3% |
| Amounts receivable within one year | 40/41 | €36,881 | €377,614 | +€340,733 | +924% |
| Trade receivables | 40 | €23,295 | €227,779 | +€204,484 | +878% |
| Other amounts receivable | 41 | €13,586 | €149,834 | +€136,249 | +1,003% |
| Cash at bank and in hand | 54/58 | €81,989 | €139,005 | +€57,016 | +69.5% |
| Total equity and liabilities | 10/49 | €267,118 | €561,559 | +€294,441 | +110% |
| Equity | 10/15 | €121,426 | €129,009 | +€7,584 | +6.2% |
| Contributions | 10/11 | €28,600 | €28,600 | = | 0.0% |
| Reserves | 13 | €1,647 | €1,647 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,647 | €1,647 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,647 | €1,647 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,179 | €98,762 | +€7,584 | +8.3% |
| Amounts payable | 17/49 | €145,692 | €432,550 | +€286,858 | +197% |
| Amounts payable within one year | 42/48 | €145,692 | €432,550 | +€286,858 | +197% |
| Trade debts | 44 | €126,078 | €310,433 | +€184,355 | +146% |
| Suppliers | 440/4 | €126,078 | €281,541 | +€155,463 | +123% |
| Bills of exchange payable | 441 | - | €28,893 | +€28,893 | |
| Advances received on contracts in progress | 46 | - | €80,573 | +€80,573 | |
| Taxes, remuneration and social security | 45 | €10,487 | €34,280 | +€23,793 | +227% |
| Taxes | 450/3 | €9,808 | €9,434 | -€375 | -3.8% |
| Remuneration and social security | 454/9 | €679 | €24,846 | +€24,168 | +3,561% |
| Other amounts payable | 47/48 | €9,128 | €7,264 | -€1,863 | -20.4% |
| Remuneration, social security and pensions | 62 | €60,140 | €130,697 | +€70,557 | +117% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,492 | €2,718 | +€227 | +9.1% |
| Other operating charges | 640/8 | €211,896 | €85,120 | -€126,776 | -59.8% |
| Gross operating margin | 9900 | €301,893 | €226,212 | -€75,681 | -25.1% |
| Operating profit (loss) | 9901 | €27,366 | €7,677 | -€19,689 | -71.9% |
| Financial income | 75/76B | €3,711 | €83 | -€3,628 | -97.8% |
| Recurring financial income | 75 | €3,711 | €83 | -€3,628 | -97.8% |
| Financial charges | 65/66B | €131 | €176 | +€44 | +33.8% |
| Recurring financial charges | 65 | €131 | €176 | +€44 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €30,945 | €7,584 | -€23,362 | -75.5% |
| Income taxes | 67/77 | €4,372 | - | -€4,372 | |
| Profit (loss) for the period | 9904 | €26,573 | €7,584 | -€18,990 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,573 | €7,584 | -€18,990 | -71.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.