MANAV: what changed
Two fiscal 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.
MANAV
Largest movements
- Cash +€3,634
up €3,634 (+16.5%), from €22,000 to €25,634
mainly Tax, wage and social debts (+€2,220) and Trade debts (+€2,108)
- Receivables within one year +€769
up €769 (+4.5%), from €17,161 to €17,930
of which Other amounts receivable: +€769
- Tax, wage and social debts +€2,220
up €2,220 (+39.1%), from €5,671 to €7,891
of which Taxes: +€3,883
- Trade debts +€2,108
up €2,108 (+11.0%), from €19,116 to €21,224
- Other debts -€1,140
down €1,140 (-94.3%), from €1,209 to €69
- Profit (loss) carried forward +€941
up €941 (+12.7%), from €7,426 to €8,367
- Gross operating margin -€4,613
down €4,613 (-21.1%), from €21,821 to €17,209
- Staff costs +€2,446
up €2,446 (+25.8%), from €9,496 to €11,942
- Other operating charges -€1,712
down €1,712 (-69.0%), from €2,482 to €770
- Taxes +€1,610
up €1,610 (+133.4%), from €1,207 to €2,816
- Financial charges -€220
down €220 (-22.9%), from €959 to €739
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.
Cash bridge derived
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 | €39,911 | €44,039 | +€4,128 | +10.3% |
| Current assets | 29/58 | €39,911 | €44,039 | +€4,128 | +10.3% |
| Stocks and contracts in progress | 3 | €750 | €475 | -€275 | -36.7% |
| Stocks | 30/36 | €750 | €475 | -€275 | -36.7% |
| Amounts receivable within one year | 40/41 | €17,161 | €17,930 | +€769 | +4.5% |
| Trade receivables | 40 | €16,572 | €16,572 | = | 0.0% |
| Other amounts receivable | 41 | €588 | €1,357 | +€769 | +130.8% |
| Cash at bank and in hand | 54/58 | €22,000 | €25,634 | +€3,634 | +16.5% |
| Total equity and liabilities | 10/49 | €39,911 | €44,039 | +€4,128 | +10.3% |
| Equity | 10/15 | €13,914 | €14,855 | +€941 | +6.8% |
| Contributions | 10/11 | €6,202 | €6,202 | = | 0.0% |
| Reserves | 13 | €286 | €286 | = | 0.0% |
| Non-distributable reserves | 130/1 | €286 | €286 | = | 0.0% |
| Reserves not available under the articles | 1311 | €286 | €286 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,426 | €8,367 | +€941 | +12.7% |
| Amounts payable | 17/49 | €25,997 | €29,184 | +€3,187 | +12.3% |
| Amounts payable within one year | 42/48 | €25,997 | €29,184 | +€3,187 | +12.3% |
| Trade debts | 44 | €19,116 | €21,224 | +€2,108 | +11.0% |
| Suppliers | 440/4 | €19,116 | €21,224 | +€2,108 | +11.0% |
| Taxes, remuneration and social security | 45 | €5,671 | €7,891 | +€2,220 | +39.1% |
| Taxes | 450/3 | €1,235 | €5,117 | +€3,883 | +314.5% |
| Remuneration and social security | 454/9 | €4,437 | €2,774 | -€1,663 | -37.5% |
| Other amounts payable | 47/48 | €1,209 | €69 | -€1,140 | -94.3% |
| Remuneration, social security and pensions | 62 | €9,496 | €11,942 | +€2,446 | +25.8% |
| Other operating charges | 640/8 | €2,482 | €770 | -€1,712 | -69.0% |
| Gross operating margin | 9900 | €21,821 | €17,209 | -€4,613 | -21.1% |
| Operating profit (loss) | 9901 | €9,844 | €4,497 | -€5,347 | -54.3% |
| Financial charges | 65/66B | €959 | €739 | -€220 | -22.9% |
| Recurring financial charges | 65 | €959 | €739 | -€220 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €8,884 | €3,757 | -€5,127 | -57.7% |
| Income taxes | 67/77 | €1,207 | €2,816 | +€1,610 | +133.4% |
| Profit (loss) for the period | 9904 | €7,678 | €941 | -€6,737 | -87.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,678 | €941 | -€6,737 | -87.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.