Manang: 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.
Manang
Largest movements
- Cash +€52,330
up €52,330 (+30.0%), from €174,693 to €227,023
mainly Net result for the year (+€135,068) and Investment in fixed assets (net) (+€36,892)
- Tangible fixed assets -€43,716
down €43,716 (-61.7%), from €70,875 to €27,159
of which Furniture and vehicles: -€42,928
- Receivables within one year +€16,365
up €16,365 (+155%), from €10,562 to €26,927
- Receivables after one year -€6,501
no longer reported in 2025 (was €6,501)
- Intangible fixed assets -€5,200
down €5,200 (-53.4%), from €9,730 to €4,530
- Tax, wage and social debts +€17,557
up €17,557 (+36.6%), from €47,906 to €65,463
of which Taxes: +€23,801
- Profit (loss) carried forward -€7,790
down €7,790 (-4.5%), from €172,089 to €164,299
- Trade debts +€3,955
up €3,955 (+30.7%), from €12,876 to €16,831
- Gross operating margin +€87,411
up €87,411 (+28.5%), from €306,895 to €394,306
- Staff costs +€46,634
up €46,634 (+35.2%), from €132,613 to €179,247
- Other operating charges +€19,320
up €19,320 (+1,039%), from €1,859 to €21,180
- Taxes +€11,972
up €11,972 (+34.9%), from €34,287 to €46,259
- Depreciation -€9,373
down €9,373 (-43.8%), from €21,398 to €12,024
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 | €287,872 | €301,595 | +€13,723 | +4.8% |
| Fixed assets | 21/28 | €93,176 | €44,259 | -€48,916 | -52.5% |
| Intangible fixed assets | 21 | €9,730 | €4,530 | -€5,200 | -53.4% |
| Tangible fixed assets | 22/27 | €70,875 | €27,159 | -€43,716 | -61.7% |
| Plant, machinery and equipment | 23 | €16,435 | €15,646 | -€789 | -4.8% |
| Furniture and vehicles | 24 | €54,440 | €11,512 | -€42,928 | -78.9% |
| Financial fixed assets | 28 | €12,570 | €12,570 | = | 0.0% |
| Current assets | 29/58 | €194,696 | €257,335 | +€62,639 | +32.2% |
| Amounts receivable after more than one year | 29 | €6,501 | - | -€6,501 | |
| Other amounts receivable | 291 | €6,501 | - | -€6,501 | |
| Stocks and contracts in progress | 3 | €2,940 | €3,385 | +€445 | +15.1% |
| Stocks | 30/36 | €2,940 | €3,385 | +€445 | +15.1% |
| Amounts receivable within one year | 40/41 | €10,562 | €26,927 | +€16,365 | +155% |
| Other amounts receivable | 41 | €10,562 | €26,927 | +€16,365 | +155% |
| Cash at bank and in hand | 54/58 | €174,693 | €227,023 | +€52,330 | +30.0% |
| Total equity and liabilities | 10/49 | €287,872 | €301,595 | +€13,723 | +4.8% |
| Equity | 10/15 | €227,090 | €219,300 | -€7,790 | -3.4% |
| Contributions | 10/11 | €50,001 | €50,001 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,089 | €164,299 | -€7,790 | -4.5% |
| Amounts payable | 17/49 | €60,782 | €82,294 | +€21,512 | +35.4% |
| Amounts payable within one year | 42/48 | €60,782 | €82,294 | +€21,512 | +35.4% |
| Trade debts | 44 | €12,876 | €16,831 | +€3,955 | +30.7% |
| Suppliers | 440/4 | €12,876 | €16,831 | +€3,955 | +30.7% |
| Taxes, remuneration and social security | 45 | €47,906 | €65,463 | +€17,557 | +36.6% |
| Taxes | 450/3 | €41,662 | €65,463 | +€23,801 | +57.1% |
| Remuneration and social security | 454/9 | €6,244 | - | -€6,244 | |
| Remuneration, social security and pensions | 62 | €132,613 | €179,247 | +€46,634 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,398 | €12,024 | -€9,373 | -43.8% |
| Other operating charges | 640/8 | €1,859 | €21,180 | +€19,320 | +1,039% |
| Non-recurring operating charges | 66A | - | €58 | +€58 | |
| Gross operating margin | 9900 | €306,895 | €394,306 | +€87,411 | +28.5% |
| Operating profit (loss) | 9901 | €151,025 | €181,797 | +€30,772 | +20.4% |
| Financial charges | 65/66B | €163 | €470 | +€307 | +188% |
| Recurring financial charges | 65 | €163 | €470 | +€307 | +188% |
| Profit (loss) for the period before taxes | 9903 | €150,862 | €181,326 | +€30,465 | +20.2% |
| Income taxes | 67/77 | €34,287 | €46,259 | +€11,972 | +34.9% |
| Profit (loss) for the period | 9904 | €116,575 | €135,068 | +€18,493 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €116,575 | €135,068 | +€18,493 | +15.9% |
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 17 October 2026 via checked.be.