Manaru: 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.
Manaru
Largest movements
- Receivables within one year -€9,777
down €9,777 (-97.0%), from €10,080 to €303
of which Other amounts receivable: -€9,777
- Tangible fixed assets -€5,068
down €5,068 (-37.9%), from €13,381 to €8,313
of which Leasing and similar rights: -€7,774
- Cash -€1,457
down €1,457 (-9.1%), from €15,962 to €14,505
mainly Net result for the year (-€69,453) and Debts after one year (-€8,401)
- Deferred charges and accrued income +€1,119
up €1,119 (+97.8%), from €1,144 to €2,263
- Other debts +€69,686
up €69,686 (+391%), from €17,801 to €87,487
- Profit (loss) carried forward -€69,453
down €69,453 (-553%), from -€12,570 to -€82,023
- Debts after one year -€8,401
down €8,401 (-100%), from €8,401 to €0
- Current portion of long-term debt -€6,478
down €6,478 (-100%), from €6,478 to €0
- Tax, wage and social debts -€776
down €776 (-76.4%), from €1,016 to €240
of which Taxes: -€1,016
- Gross operating margin -€52,023
down €52,023 (-515%), from -€10,100 to -€62,123
- Write-downs -€48,000
down €48,000 (-100%), from €48,000 to €0
- Depreciation -€9,243
down €9,243 (-64.6%), from €14,311 to €5,068
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 | €40,567 | €25,383 | -€15,184 | -37.4% |
| Fixed assets | 21/28 | €13,381 | €8,313 | -€5,068 | -37.9% |
| Tangible fixed assets | 22/27 | €13,381 | €8,313 | -€5,068 | -37.9% |
| Plant, machinery and equipment | 23 | €624 | €364 | -€261 | -41.7% |
| Furniture and vehicles | 24 | €3,893 | €7,461 | +€3,568 | +91.7% |
| Leasing and similar rights | 25 | €7,774 | €0 | -€7,774 | -100% |
| Other tangible fixed assets | 26 | €1,090 | €489 | -€601 | -55.2% |
| Current assets | 29/58 | €27,186 | €17,070 | -€10,116 | -37.2% |
| Amounts receivable within one year | 40/41 | €10,080 | €303 | -€9,777 | -97.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €10,080 | €303 | -€9,777 | -97.0% |
| Cash at bank and in hand | 54/58 | €15,962 | €14,505 | -€1,457 | -9.1% |
| Deferred charges and accrued income | 490/1 | €1,144 | €2,263 | +€1,119 | +97.8% |
| Total equity and liabilities | 10/49 | €40,567 | €25,383 | -€15,184 | -37.4% |
| Equity | 10/15 | €6,030 | -€63,423 | -€69,453 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€12,570 | -€82,023 | -€69,453 | -553% |
| Amounts payable | 17/49 | €34,537 | €88,806 | +€54,269 | +157% |
| Amounts payable after more than one year | 17 | €8,401 | €0 | -€8,401 | -100% |
| Financial debts | 170/4 | €8,401 | €0 | -€8,401 | -100% |
| Amounts payable within one year | 42/48 | €26,135 | €88,806 | +€62,670 | +240% |
| Current portion of amounts payable after more than one year | 42 | €6,478 | €0 | -€6,478 | -100% |
| Trade debts | 44 | €840 | €1,079 | +€239 | +28.4% |
| Suppliers | 440/4 | €840 | €1,079 | +€239 | +28.4% |
| Taxes, remuneration and social security | 45 | €1,016 | €240 | -€776 | -76.4% |
| Taxes | 450/3 | €1,016 | €0 | -€1,016 | -100% |
| Remuneration and social security | 454/9 | - | €240 | +€240 | |
| Other amounts payable | 47/48 | €17,801 | €87,487 | +€69,686 | +391% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,311 | €5,068 | -€9,243 | -64.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €48,000 | €0 | -€48,000 | -100% |
| Other operating charges | 640/8 | €1,538 | €2,090 | +€552 | +35.9% |
| Gross operating margin | 9900 | -€10,100 | -€62,123 | -€52,023 | -515% |
| Operating profit (loss) | 9901 | -€73,949 | -€69,281 | +€4,667 | +6.3% |
| Financial income | 75/76B | - | €153 | +€153 | |
| Recurring financial income | 75 | - | €153 | +€153 | |
| Financial charges | 65/66B | €520 | €165 | -€356 | -68.3% |
| Recurring financial charges | 65 | €520 | €165 | -€356 | -68.3% |
| Profit (loss) for the period before taxes | 9903 | -€74,469 | -€69,293 | +€5,176 | +7.0% |
| Income taxes | 67/77 | €185 | €160 | -€25 | -13.5% |
| Profit (loss) for the period | 9904 | -€74,654 | -€69,453 | +€5,201 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€74,654 | -€69,453 | +€5,201 | +7.0% |
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 23 October 2026 via checked.be.