Manatec Europe: what changed
Manatec Europe
Largest movements
- Stocks and contracts -€63,867
down €63,867 (-18.7%), from €342,039 to €278,173
- Cash +€37,082
up €37,082 (+319%), from €11,642 to €48,724
mainly Trade debts (+€71,136) and Stocks and contracts (+€63,867)
- Receivables within one year -€14,348
down €14,348 (-12.7%), from €113,400 to €99,052
of which Trade receivables: -€28,151
- Profit (loss) carried forward -€86,167
down €86,167 (-58.3%), from -€147,678 to -€233,845
- Trade debts +€71,136
up €71,136 (+12.9%), from €551,611 to €622,747
- Advances received -€21,510
down €21,510 (-100%), from €21,510 to €0
- Accrued charges and deferred income -€7,610
down €7,610 (-100%), from €7,610 to €0
- Other debts +€5,070
new in 2025: €5,070
- Gross operating margin +€52,946
up €52,946 (+72.2%), from -€73,325 to -€20,379
- Staff costs -€15,879
down €15,879 (-20.9%), from €76,071 to €60,192
- Taxes +€3,169
up €3,169, from -€1,100 to €2,069
- Other operating charges +€2,204
new in 2025: €2,204
- Write-downs +€1,644
up €1,644, from -€1,644 to €0
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €467,081 | €425,949 | -€41,132 | -8.8% |
| Current assets | 29/58 | €467,081 | €425,949 | -€41,132 | -8.8% |
| Stocks and contracts in progress | 3 | €342,039 | €278,173 | -€63,867 | -18.7% |
| Stocks | 30/36 | €342,039 | €278,173 | -€63,867 | -18.7% |
| Amounts receivable within one year | 40/41 | €113,400 | €99,052 | -€14,348 | -12.7% |
| Trade receivables | 40 | €105,276 | €77,125 | -€28,151 | -26.7% |
| Other amounts receivable | 41 | €8,124 | €21,926 | +€13,802 | +170% |
| Cash at bank and in hand | 54/58 | €11,642 | €48,724 | +€37,082 | +319% |
| Total equity and liabilities | 10/49 | €467,081 | €425,949 | -€41,132 | -8.8% |
| Equity | 10/15 | -€133,493 | -€219,660 | -€86,167 | -64.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,185 | €9,185 | = | 0.0% |
| Distributable reserves | 133 | €9,185 | €9,185 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€147,678 | -€233,845 | -€86,167 | -58.3% |
| Amounts payable | 17/49 | €600,574 | €645,609 | +€45,035 | +7.5% |
| Amounts payable within one year | 42/48 | €592,964 | €645,609 | +€52,645 | +8.9% |
| Trade debts | 44 | €551,611 | €622,747 | +€71,136 | +12.9% |
| Suppliers | 440/4 | €551,611 | €622,747 | +€71,136 | +12.9% |
| Advances received on contracts in progress | 46 | €21,510 | €0 | -€21,510 | -100% |
| Taxes, remuneration and social security | 45 | €19,842 | €17,791 | -€2,051 | -10.3% |
| Taxes | 450/3 | €5,988 | €3,574 | -€2,415 | -40.3% |
| Remuneration and social security | 454/9 | €13,854 | €14,218 | +€364 | +2.6% |
| Other amounts payable | 47/48 | - | €5,070 | +€5,070 | |
| Accrued charges and deferred income | 492/3 | €7,610 | €0 | -€7,610 | -100% |
| Remuneration, social security and pensions | 62 | €76,071 | €60,192 | -€15,879 | -20.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,644 | €0 | +€1,644 | |
| Other operating charges | 640/8 | - | €2,204 | +€2,204 | |
| Gross operating margin | 9900 | -€73,325 | -€20,379 | +€52,946 | +72.2% |
| Operating profit (loss) | 9901 | -€147,752 | -€82,775 | +€64,977 | +44.0% |
| Financial charges | 65/66B | €1,025 | €1,323 | +€297 | +29.0% |
| Recurring financial charges | 65 | €1,025 | €1,323 | +€297 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | -€148,778 | -€84,098 | +€64,680 | +43.5% |
| Income taxes | 67/77 | -€1,100 | €2,069 | +€3,169 | |
| Profit (loss) for the period | 9904 | -€147,678 | -€86,167 | +€61,511 | +41.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€147,678 | -€86,167 | +€61,511 | +41.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.