MANASHEROV: 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.
MANASHEROV
Largest movements
- Cash -€54
down €54 (-9.0%), from €601 to €547
mainly Trade debts (-€805) and Net result for the year (-€252)
- Other debts +€1,003
up €1,003 (+1.5%), from €69,161 to €70,164
- Trade debts -€805
down €805 (-10.7%), from €7,542 to €6,737
- Profit (loss) carried forward -€252
down €252 (-0.2%), from -€127,155 to -€127,407
- Gross operating margin +€751
no longer reported in 2025 (was -€751)
- Other operating charges -€491
down €491 (-71.3%), from €689 to €198
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 | €3,976 | €3,922 | -€54 | -1.4% |
| Fixed assets | 21/28 | €3,281 | €3,281 | = | 0.0% |
| Tangible fixed assets | 22/27 | €3,281 | €3,281 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,748 | €2,748 | = | 0.0% |
| Furniture and vehicles | 24 | €533 | €533 | = | 0.0% |
| Current assets | 29/58 | €695 | €641 | -€54 | -7.8% |
| Amounts receivable within one year | 40/41 | €95 | €95 | = | 0.0% |
| Other amounts receivable | 41 | €95 | €95 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €601 | €547 | -€54 | -9.0% |
| Total equity and liabilities | 10/49 | €3,976 | €3,922 | -€54 | -1.4% |
| Equity | 10/15 | -€112,155 | -€112,407 | -€252 | -0.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,155 | -€127,407 | -€252 | -0.2% |
| Amounts payable | 17/49 | €116,131 | €116,329 | +€198 | +0.2% |
| Amounts payable within one year | 42/48 | €116,131 | €116,329 | +€198 | +0.2% |
| Trade debts | 44 | €7,542 | €6,737 | -€805 | -10.7% |
| Suppliers | 440/4 | €7,542 | €6,737 | -€805 | -10.7% |
| Taxes, remuneration and social security | 45 | €39,427 | €39,427 | = | 0.0% |
| Remuneration and social security | 454/9 | €39,427 | €39,427 | = | 0.0% |
| Other amounts payable | 47/48 | €69,161 | €70,164 | +€1,003 | +1.5% |
| Other operating charges | 640/8 | €689 | €198 | -€491 | -71.3% |
| Non-recurring operating charges | 66A | €149 | - | -€149 | |
| Gross operating margin | 9900 | -€751 | - | +€751 | |
| Operating profit (loss) | 9901 | -€1,590 | -€198 | +€1,392 | +87.6% |
| Financial charges | 65/66B | €54 | €54 | = | 0.0% |
| Recurring financial charges | 65 | €54 | €54 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,644 | -€252 | +€1,392 | +84.7% |
| Profit (loss) for the period | 9904 | -€1,644 | -€252 | +€1,392 | +84.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,644 | -€252 | +€1,392 | +84.7% |
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 14 October 2026 via checked.be.