MANAMER: 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.
What changed
MANAMER
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €864,494+€1.2m
Equity
€10.8m
2024 · €8.9m+€2.0m
Cash
-
not filed
Balance sheet total
€19.0m
2024 · €18.2m+€736,613
Largest movements
Assets
- Receivables within one year +€962,699
up €962,699 (+56.0%), from €1.7m to €2.7m
of which Other amounts receivable: +€962,313
- Tangible fixed assets -€203,617
down €203,617 (-3.3%), from €6.2m to €5.9m
of which Land and buildings: -€152,770
Equity and liabilities
- Profit (loss) carried forward +€2.0m
up €2.0m (+23.7%), from €8.3m to €10.3m
- Debts after one year -€774,953
down €774,953 (-58.1%), from €1.3m to €558,871
- Other debts -€500,000
down €500,000 (-8.3%), from €6.0m to €5.5m
Income statement
- Taxes -€1.8m
down €1.8m (-86.0%), from €2.1m to €287,841
- Financial income +€952,801
up €952,801 (+83.2%), from €1.1m to €2.1m
- Services and other goods -€62,798
down €62,798 (-15.0%), from €418,170 to €355,372
- Other operating charges +€51,243
up €51,243 (+53.2%), from €96,290 to €147,533
- Depreciation -€29,617
down €29,617 (-7.6%), from €389,655 to €360,038
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.
Result 2024
€864,494
Turnover
-€11,761
Other operating income
+€1,842
Services and other goods
+€62,798
Depreciation
+€29,617
Other operating charges
-€51,243
Other operating items
+€7,612
Financial income
+€952,801
Financial charges
+€19,854
Taxes
+€1.8m
Deferred taxes and other
-€1.6m
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,215,359 | €18,951,971 | +€736,613 | +4.0% |
| Fixed assets | 21/28 | €16,411,458 | €16,207,841 | -€203,617 | -1.2% |
| Tangible fixed assets | 22/27 | €6,151,236 | €5,947,620 | -€203,617 | -3.3% |
| Land and buildings | 22 | €5,839,564 | €5,686,794 | -€152,770 | -2.6% |
| Plant, machinery and equipment | 23 | €208,170 | €192,592 | -€15,579 | -7.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | €97,142 | €50,780 | -€46,362 | -47.7% |
| Other tangible fixed assets | 26 | €6,360 | €6,360 | = | 0.0% |
| Assets under construction and advance payments | 27 | €0 | €11,094 | +€11,094 | |
| Financial fixed assets | 28 | €10,260,221 | €10,260,221 | = | 0.0% |
| Affiliated companies | 280/1 | €10,260,221 | €10,260,221 | = | 0.0% |
| Participating interests | 280 | €8,960,221 | €8,960,221 | = | 0.0% |
| Amounts receivable | 281 | €1,300,000 | €1,300,000 | = | 0.0% |
| Current assets | 29/58 | €1,803,901 | €2,744,130 | +€940,229 | +52.1% |
| Amounts receivable within one year | 40/41 | €1,719,475 | €2,682,174 | +€962,699 | +56.0% |
| Trade receivables | 40 | €52,619 | €53,005 | +€386 | +0.7% |
| Other amounts receivable | 41 | €1,666,856 | €2,629,169 | +€962,313 | +57.7% |
| Deferred charges and accrued income | 490/1 | €84,426 | €61,957 | -€22,470 | -26.6% |
| Total equity and liabilities | 10/49 | €18,215,359 | €18,951,971 | +€736,613 | +4.0% |
| Equity | 10/15 | €8,857,950 | €10,827,412 | +€2.0m | +22.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €493,261 | €493,261 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,839 | €6,839 | = | 0.0% |
| Legal reserve | 130 | €6,839 | €6,839 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €486,422 | €486,422 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,303,189 | €10,272,651 | +€2.0m | +23.7% |
| Provisions and deferred taxes | 16 | €0 | €0 | = | |
| Deferred taxes | 168 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,357,409 | €8,124,559 | -€1.2m | -13.2% |
| Amounts payable after more than one year | 17 | €1,333,824 | €558,871 | -€774,953 | -58.1% |
| Financial debts | 170/4 | €1,333,824 | €558,871 | -€774,953 | -58.1% |
| Leasing and similar obligations | 172 | €53,708 | €20,119 | -€33,589 | -62.5% |
| Credit institutions | 173 | €1,280,116 | €538,752 | -€741,364 | -57.9% |
| Amounts payable within one year | 42/48 | €8,023,585 | €7,565,688 | -€457,896 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €784,903 | €774,953 | -€9,950 | -1.3% |
| Financial debts | 43 | - | €53,005 | +€53,005 | |
| Credit institutions | 430/8 | - | €53,005 | +€53,005 | |
| Trade debts | 44 | €86,489 | €82,223 | -€4,266 | -4.9% |
| Suppliers | 440/4 | €86,489 | €82,223 | -€4,266 | -4.9% |
| Taxes, remuneration and social security | 45 | €1,152,192 | €1,155,507 | +€3,315 | +0.3% |
| Taxes | 450/3 | €1,152,192 | €1,155,507 | +€3,315 | +0.3% |
| Other amounts payable | 47/48 | €6,000,000 | €5,500,000 | -€500,000 | -8.3% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Operating income | 70/76A | €1,264,195 | €1,261,888 | -€2,307 | -0.2% |
| Turnover | 70 | €1,264,195 | €1,252,434 | -€11,761 | -0.9% |
| Other operating income | 74 | €0 | €1,842 | +€1,842 | |
| Non-recurring operating income | 76A | - | €7,612 | +€7,612 | |
| Operating charges | 60/66A | €904,115 | €862,943 | -€41,172 | -4.6% |
| Services and other goods | 61 | €418,170 | €355,372 | -€62,798 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €389,655 | €360,038 | -€29,617 | -7.6% |
| Other operating charges | 640/8 | €96,290 | €147,533 | +€51,243 | +53.2% |
| Operating profit (loss) | 9901 | €360,080 | €398,945 | +€38,865 | +10.8% |
| Financial income | 75/76B | €1,145,137 | €2,097,938 | +€952,801 | +83.2% |
| Recurring financial income | 75 | €1,145,137 | €2,097,938 | +€952,801 | +83.2% |
| Income from financial fixed assets | 750 | €1,047,838 | €2,007,378 | +€959,541 | +91.6% |
| Income from current assets | 751 | €97,245 | €90,559 | -€6,686 | -6.9% |
| Other financial income | 752/9 | €55 | €1 | -€54 | -98.2% |
| Financial charges | 65/66B | €159,433 | €139,580 | -€19,854 | -12.5% |
| Recurring financial charges | 65 | €159,433 | €139,580 | -€19,854 | -12.5% |
| Debt charges | 650 | €133,839 | €138,608 | +€4,769 | +3.6% |
| Other financial charges | 652/9 | €25,594 | €972 | -€24,622 | -96.2% |
| Profit (loss) for the period before taxes | 9903 | €1,345,784 | €2,357,303 | +€1.0m | +75.2% |
| Transfer from deferred taxes | 780 | €1,577,167 | - | -€1.6m | |
| Income taxes | 67/77 | €2,058,457 | €287,841 | -€1.8m | -86.0% |
| Taxes | 670/3 | €2,058,457 | €287,841 | -€1.8m | -86.0% |
| Profit (loss) for the period | 9904 | €864,494 | €2,069,462 | +€1.2m | +139% |
| Transfer from tax-exempt reserves | 789 | €4,731,502 | - | -€4.7m | |
| Profit (loss) for the period to be appropriated | 9905 | €5,595,997 | €2,069,462 | -€3.5m | -63.0% |
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 13 October 2026 via checked.be.