MANATHAN: 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.
MANATHAN
Largest movements
- Cash +€1.8m
up €1.8m (+88.8%), from €2.1m to €3.9m
mainly Net result for the year (+€3.8m) and Receivables within one year (+€693,750)
- Financial fixed assets +€1.7m
up €1.7m (+8.4%), from €20.0m to €21.7m
- Receivables within one year -€693,750
down €693,750 (-100%), from €693,750 to €0
- Reserves +€3.8m
up €3.8m (+102%), from €3.8m to €7.6m
of which Distributable reserves: +€3.8m
- Debts after one year -€1.0m
down €1.0m (-5.6%), from €17.9m to €16.9m
- Financial income +€949,126
up €949,126 (+32.9%), from €2.9m to €3.8m
- Gross operating margin +€4,352
up €4,352 (+51.5%), from -€8,451 to -€4,100
- Financial charges +€185
up €185 (+84.7%), from €218 to €403
- Other operating charges -€110
down €110 (-7.8%), from €1,416 to €1,306
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 | €22,779,530 | €25,607,029 | +€2.8m | +12.4% |
| Fixed assets | 21/28 | €20,009,624 | €21,687,318 | +€1.7m | +8.4% |
| Financial fixed assets | 28 | €20,009,624 | €21,687,318 | +€1.7m | +8.4% |
| Current assets | 29/58 | €2,769,906 | €3,919,711 | +€1.1m | +41.5% |
| Amounts receivable within one year | 40/41 | €693,750 | €0 | -€693,750 | -100% |
| Other amounts receivable | 41 | €693,750 | €0 | -€693,750 | -100% |
| Cash at bank and in hand | 54/58 | €2,076,156 | €3,919,711 | +€1.8m | +88.8% |
| Total equity and liabilities | 10/49 | €22,779,530 | €25,607,029 | +€2.8m | +12.4% |
| Equity | 10/15 | €4,880,586 | €8,704,492 | +€3.8m | +78.3% |
| Contributions | 10/11 | €1,125,000 | €1,125,000 | = | 0.0% |
| Reserves | 13 | €3,755,586 | €7,579,492 | +€3.8m | +102% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,755,586 | €7,579,492 | +€3.8m | +102% |
| Amounts payable | 17/49 | €17,898,944 | €16,902,538 | -€996,407 | -5.6% |
| Amounts payable after more than one year | 17 | €17,887,877 | €16,887,877 | -€1.0m | -5.6% |
| Financial debts | 170/4 | €17,887,877 | €16,887,877 | -€1.0m | -5.6% |
| Amounts payable within one year | 42/48 | €8,902 | €8,339 | -€562 | -6.3% |
| Trade debts | 44 | €2,766 | €2,203 | -€562 | -20.3% |
| Suppliers | 440/4 | €2,766 | €2,203 | -€562 | -20.3% |
| Other amounts payable | 47/48 | €6,136 | €6,136 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,165 | €6,321 | +€4,156 | +192% |
| Other operating charges | 640/8 | €1,416 | €1,306 | -€110 | -7.8% |
| Gross operating margin | 9900 | -€8,451 | -€4,100 | +€4,352 | +51.5% |
| Operating profit (loss) | 9901 | -€9,867 | -€5,405 | +€4,462 | +45.2% |
| Financial income | 75/76B | €2,880,588 | €3,829,714 | +€949,126 | +32.9% |
| Recurring financial income | 75 | €2,880,588 | €3,829,714 | +€949,126 | +32.9% |
| Financial charges | 65/66B | €218 | €403 | +€185 | +84.7% |
| Recurring financial charges | 65 | €218 | €403 | +€185 | +84.7% |
| Profit (loss) for the period before taxes | 9903 | €2,870,503 | €3,823,906 | +€953,403 | +33.2% |
| Profit (loss) for the period | 9904 | €2,870,503 | €3,823,906 | +€953,403 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,870,503 | €3,823,906 | +€953,403 | +33.2% |
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 18 October 2026 via checked.be.