MANARA: 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.
MANARA
Largest movements
- Cash +€28,347
up €28,347 (+101.2%), from €28,000 to €56,347
mainly Receivables within one year (+€26,248) and Net result for the year (+€16,743)
- Receivables within one year -€26,248
down €26,248 (-65.6%), from €40,015 to €13,767
of which Trade receivables: -€24,171
- Tangible fixed assets -€6,698
down €6,698 (-33.1%), from €20,208 to €13,510
of which Furniture and vehicles: -€5,980
- Stocks and contracts +€2,447
up €2,447 (+2.8%), from €88,883 to €91,329
- Deferred charges and accrued income +€2,222
up €2,222 (+207.3%), from €1,072 to €3,294
- Accrued charges and deferred income -€12,826
down €12,826 (-82.3%), from €15,576 to €2,750
- Tax, wage and social debts +€7,978
up €7,978 (+83.5%), from €9,553 to €17,530
of which Taxes: +€4,478
- Debts after one year -€7,698
down €7,698 (-59.3%), from €12,988 to €5,290
- Other debts +€7,038
up €7,038 (+13.5%), from €52,313 to €59,350
- Reserves +€3,743
up €3,743 (+5.6%), from €66,867 to €70,610
- Gross operating margin +€25,279
up €25,279 (+262.6%), from €9,625 to €34,904
- Taxes +€8,185
up €8,185 (+886.2%), from €924 to €9,109
- Other operating charges +€852
up €852 (+132.9%), from €641 to €1,493
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 | €178,178 | €178,248 | +€70 | 0.0% |
| Fixed assets | 21/28 | €20,208 | €13,510 | -€6,698 | -33.1% |
| Tangible fixed assets | 22/27 | €20,208 | €13,510 | -€6,698 | -33.1% |
| Plant, machinery and equipment | 23 | €2,268 | €1,550 | -€718 | -31.7% |
| Furniture and vehicles | 24 | €17,940 | €11,960 | -€5,980 | -33.3% |
| Current assets | 29/58 | €157,970 | €164,738 | +€6,768 | +4.3% |
| Stocks and contracts in progress | 3 | €88,883 | €91,329 | +€2,447 | +2.8% |
| Stocks | 30/36 | €88,883 | €91,329 | +€2,447 | +2.8% |
| Amounts receivable within one year | 40/41 | €40,015 | €13,767 | -€26,248 | -65.6% |
| Trade receivables | 40 | €37,938 | €13,767 | -€24,171 | -63.7% |
| Other amounts receivable | 41 | €2,076 | - | -€2,076 | |
| Cash at bank and in hand | 54/58 | €28,000 | €56,347 | +€28,347 | +101.2% |
| Deferred charges and accrued income | 490/1 | €1,072 | €3,294 | +€2,222 | +207.3% |
| Total equity and liabilities | 10/49 | €178,178 | €178,248 | +€70 | 0.0% |
| Equity | 10/15 | €75,567 | €79,310 | +€3,743 | +5.0% |
| Contributions | 10/11 | €8,700 | €8,700 | = | 0.0% |
| Reserves | 13 | €66,867 | €70,610 | +€3,743 | +5.6% |
| Distributable reserves | 133 | €66,867 | €70,610 | +€3,743 | +5.6% |
| Amounts payable | 17/49 | €102,611 | €98,938 | -€3,673 | -3.6% |
| Amounts payable after more than one year | 17 | €12,988 | €5,290 | -€7,698 | -59.3% |
| Financial debts | 170/4 | €12,988 | €5,290 | -€7,698 | -59.3% |
| Amounts payable within one year | 42/48 | €74,047 | €90,898 | +€16,851 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €8,424 | €8,698 | +€275 | +3.3% |
| Trade debts | 44 | €3,758 | €5,319 | +€1,561 | +41.5% |
| Suppliers | 440/4 | €3,758 | €5,319 | +€1,561 | +41.5% |
| Taxes, remuneration and social security | 45 | €9,553 | €17,530 | +€7,978 | +83.5% |
| Taxes | 450/3 | €9,553 | €14,030 | +€4,478 | +46.9% |
| Remuneration and social security | 454/9 | - | €3,500 | +€3,500 | |
| Other amounts payable | 47/48 | €52,313 | €59,350 | +€7,038 | +13.5% |
| Accrued charges and deferred income | 492/3 | €15,576 | €2,750 | -€12,826 | -82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,698 | €6,698 | = | 0.0% |
| Other operating charges | 640/8 | €641 | €1,493 | +€852 | +132.9% |
| Gross operating margin | 9900 | €9,625 | €34,904 | +€25,279 | +262.6% |
| Operating profit (loss) | 9901 | €2,287 | €26,713 | +€24,427 | +1068.3% |
| Financial income | 75/76B | €2,028 | €2,207 | +€179 | +8.8% |
| Recurring financial income | 75 | €2,028 | €2,207 | +€179 | +8.8% |
| Financial charges | 65/66B | €3,353 | €3,068 | -€285 | -8.5% |
| Recurring financial charges | 65 | €3,353 | €3,068 | -€285 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €961 | €25,852 | +€24,891 | +2589.8% |
| Income taxes | 67/77 | €924 | €9,109 | +€8,185 | +886.2% |
| Profit (loss) for the period | 9904 | €37 | €16,743 | +€16,706 | +44560.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37 | €16,743 | +€16,706 | +44560.0% |
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 8 October 2026 via checked.be.