Manarco: 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.
Manarco
Largest movements
- Current investments +€11,520
up €11,520 (+65.6%), from €17,563 to €29,083
- Tangible fixed assets -€10,851
down €10,851 (-19.1%), from €56,726 to €45,874
of which Furniture and vehicles: -€10,334
- Receivables within one year -€8,881
down €8,881 (-17.9%), from €49,597 to €40,716
of which Other amounts receivable: -€6,039
- Deferred charges and accrued income +€2,885
up €2,885 (+102%), from €2,824 to €5,709
- Cash -€2,488
down €2,488 (-27.3%), from €9,101 to €6,613
mainly Other debts (-€15,000) and Current investments (-€11,520)
- Reserves +€39,161
up €39,161 (+90.0%), from €43,500 to €82,661
of which Distributable reserves: +€39,161
- Profit (loss) carried forward -€30,559
no longer reported in 2024 (was €30,559)
- Other debts -€15,000
down €15,000 (-33.3%), from €45,000 to €30,000
- Tax, wage and social debts -€5,111
down €5,111 (-44.2%), from €11,568 to €6,457
- Trade debts +€3,156
up €3,156 (+117%), from €2,689 to €5,845
- Depreciation +€8,643
up €8,643 (+219%), from €3,939 to €12,582
- Gross operating margin +€2,074
up €2,074 (+8.8%), from €23,490 to €25,563
- Financial charges -€1,748
down €1,748 (-80.1%), from €2,183 to €435
of which Non-recurring financial charges: -€1,612
- Taxes -€1,177
down €1,177 (-21.9%), from €5,380 to €4,203
- Other operating charges -€877
down €877 (-30.9%), from €2,842 to €1,965
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 | €139,650 | €131,296 | -€8,354 | -6.0% |
| Fixed assets | 21/28 | €60,564 | €49,174 | -€11,390 | -18.8% |
| Intangible fixed assets | 21 | €3,838 | €3,299 | -€539 | -14.0% |
| Tangible fixed assets | 22/27 | €56,726 | €45,874 | -€10,851 | -19.1% |
| Land and buildings | 22 | €3,080 | €2,845 | -€235 | -7.6% |
| Plant, machinery and equipment | 23 | €1,425 | €1,143 | -€282 | -19.8% |
| Furniture and vehicles | 24 | €52,222 | €41,887 | -€10,334 | -19.8% |
| Current assets | 29/58 | €79,086 | €82,122 | +€3,036 | +3.8% |
| Amounts receivable within one year | 40/41 | €49,597 | €40,716 | -€8,881 | -17.9% |
| Trade receivables | 40 | €5,471 | €2,629 | -€2,842 | -52.0% |
| Other amounts receivable | 41 | €44,126 | €38,087 | -€6,039 | -13.7% |
| Current investments | 50/53 | €17,563 | €29,083 | +€11,520 | +65.6% |
| Cash at bank and in hand | 54/58 | €9,101 | €6,613 | -€2,488 | -27.3% |
| Deferred charges and accrued income | 490/1 | €2,824 | €5,709 | +€2,885 | +102% |
| Total equity and liabilities | 10/49 | €139,650 | €131,296 | -€8,354 | -6.0% |
| Equity | 10/15 | €80,393 | €88,994 | +€8,601 | +10.7% |
| Contributions | 10/11 | €6,333 | €6,333 | = | 0.0% |
| Reserves | 13 | €43,500 | €82,661 | +€39,161 | +90.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €41,600 | €41,600 | = | 0.0% |
| Distributable reserves | 133 | - | €39,161 | +€39,161 | |
| Profit (loss) carried forward | 14 | €30,559 | - | -€30,559 | |
| Amounts payable | 17/49 | €59,257 | €42,302 | -€16,956 | -28.6% |
| Amounts payable within one year | 42/48 | €59,257 | €42,302 | -€16,956 | -28.6% |
| Trade debts | 44 | €2,689 | €5,845 | +€3,156 | +117% |
| Suppliers | 440/4 | €2,689 | €5,845 | +€3,156 | +117% |
| Taxes, remuneration and social security | 45 | €11,568 | €6,457 | -€5,111 | -44.2% |
| Taxes | 450/3 | €11,568 | €6,457 | -€5,111 | -44.2% |
| Other amounts payable | 47/48 | €45,000 | €30,000 | -€15,000 | -33.3% |
| Non-recurring operating income | 76A | - | €4,500 | +€4,500 | |
| Remuneration, social security and pensions | 62 | €242 | €363 | +€121 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,939 | €12,582 | +€8,643 | +219% |
| Other operating charges | 640/8 | €2,842 | €1,965 | -€877 | -30.9% |
| Gross operating margin | 9900 | €23,490 | €25,563 | +€2,074 | +8.8% |
| Operating profit (loss) | 9901 | €16,467 | €10,653 | -€5,814 | -35.3% |
| Financial income | 75/76B | €1,815 | €2,587 | +€772 | +42.6% |
| Recurring financial income | 75 | €1,815 | €2,587 | +€772 | +42.6% |
| Financial charges | 65/66B | €2,183 | €435 | -€1,748 | -80.1% |
| Recurring financial charges | 65 | €571 | €435 | -€136 | -23.8% |
| Non-recurring financial charges | 66B | €1,612 | - | -€1,612 | |
| Profit (loss) for the period before taxes | 9903 | €16,098 | €12,804 | -€3,293 | -20.5% |
| Income taxes | 67/77 | €5,380 | €4,203 | -€1,177 | -21.9% |
| Profit (loss) for the period | 9904 | €10,718 | €8,601 | -€2,116 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,718 | €8,601 | -€2,116 | -19.7% |
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 16 October 2026 via checked.be.