Manallu: what changed
Two fiscal 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.
Manallu
Largest movements
- Stocks and contracts -€21,488
down €21,488 (-100.0%), from €21,488 to €0
- Tangible fixed assets +€19,630
up €19,630 (+1.1%), from €1.9m to €1.9m
of which Land and buildings: +€43,782
- Debts after one year -€144,410
down €144,410 (-9.0%), from €1.6m to €1.5m
- Other debts +€128,846
up €128,846 (+112.2%), from €114,845 to €243,691
- Gross operating margin +€139,796
up €139,796 (+244.1%), from €57,265 to €197,061
- Depreciation +€56,538
up €56,538 (+121.9%), from €46,399 to €102,937
- Financial charges +€25,802
up €25,802 (+110.2%), from €23,411 to €49,212
- Staff costs +€14,873
up €14,873 (+197.6%), from €7,527 to €22,401
- Other operating charges +€8,203
up €8,203 (+406.0%), from €2,020 to €10,223
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 | €1,921,248 | €1,922,238 | +€990 | +0.1% |
| Fixed assets | 21/28 | €1,853,417 | €1,873,047 | +€19,630 | +1.1% |
| Tangible fixed assets | 22/27 | €1,853,217 | €1,872,847 | +€19,630 | +1.1% |
| Land and buildings | 22 | €1,746,552 | €1,790,333 | +€43,782 | +2.5% |
| Furniture and vehicles | 24 | €106,665 | €82,514 | -€24,151 | -22.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €67,831 | €49,191 | -€18,641 | -27.5% |
| Stocks and contracts in progress | 3 | €21,488 | €0 | -€21,488 | -100.0% |
| Stocks | 30/36 | €21,488 | €0 | -€21,488 | -100.0% |
| Amounts receivable within one year | 40/41 | €37,954 | €48,397 | +€10,443 | +27.5% |
| Trade receivables | 40 | €37,954 | €26,714 | -€11,239 | -29.6% |
| Other amounts receivable | 41 | €0 | €21,682 | +€21,682 | +21682170.0% |
| Cash at bank and in hand | 54/58 | €6,729 | €794 | -€5,935 | -88.2% |
| Deferred charges and accrued income | 490/1 | €1,661 | €0 | -€1,661 | -100.0% |
| Total equity and liabilities | 10/49 | €1,921,248 | €1,922,238 | +€990 | +0.1% |
| Equity | 10/15 | -€17,222 | -€5,252 | +€11,970 | +69.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,222 | -€10,252 | +€11,970 | +53.9% |
| Amounts payable | 17/49 | €1,938,470 | €1,927,490 | -€10,981 | -0.6% |
| Amounts payable after more than one year | 17 | €1,610,772 | €1,466,362 | -€144,410 | -9.0% |
| Financial debts | 170/4 | €1,610,772 | €1,466,362 | -€144,410 | -9.0% |
| Amounts payable within one year | 42/48 | €324,045 | €458,612 | +€134,568 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €167,543 | €180,928 | +€13,385 | +8.0% |
| Trade debts | 44 | €36,874 | €19,749 | -€17,125 | -46.4% |
| Suppliers | 440/4 | €36,874 | €19,749 | -€17,125 | -46.4% |
| Taxes, remuneration and social security | 45 | €4,782 | €14,244 | +€9,462 | +197.9% |
| Taxes | 450/3 | €4,317 | €14,051 | +€9,734 | +225.5% |
| Remuneration and social security | 454/9 | €465 | €193 | -€272 | -58.4% |
| Other amounts payable | 47/48 | €114,845 | €243,691 | +€128,846 | +112.2% |
| Accrued charges and deferred income | 492/3 | €3,654 | €2,516 | -€1,138 | -31.2% |
| Non-recurring operating income | 76A | €53,062 | €0 | -€53,062 | -100.0% |
| Remuneration, social security and pensions | 62 | €7,527 | €22,401 | +€14,873 | +197.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,399 | €102,937 | +€56,538 | +121.9% |
| Other operating charges | 640/8 | €2,020 | €10,223 | +€8,203 | +406.0% |
| Gross operating margin | 9900 | €57,265 | €197,061 | +€139,796 | +244.1% |
| Operating profit (loss) | 9901 | €1,319 | €61,500 | +€60,182 | +4564.1% |
| Financial charges | 65/66B | €23,411 | €49,212 | +€25,802 | +110.2% |
| Recurring financial charges | 65 | €23,411 | €49,212 | +€25,802 | +110.2% |
| Profit (loss) for the period before taxes | 9903 | -€22,092 | €12,288 | +€34,380 | |
| Income taxes | 67/77 | €130 | €318 | +€188 | +144.4% |
| Profit (loss) for the period | 9904 | -€22,222 | €11,970 | +€34,193 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,222 | €11,970 | +€34,193 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.