Manax: 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.
Manax
Largest movements
- Receivables within one year -€7,043
down €7,043 (-86.7%), from €8,126 to €1,083
of which Trade receivables: -€7,042
- Tangible fixed assets +€1,469
up €1,469 (+100.4%), from €1,463 to €2,932
of which Furniture and vehicles: +€1,394
- Cash -€1,181
down €1,181 (-62.9%), from €1,877 to €696
mainly Other debts (-€7,342) and Trade debts (-€3,991)
- Deferred charges and accrued income -€910
down €910 (-100.0%), from €910 to €0
- Profit (loss) carried forward +€7,776
up €7,776 (+10.8%), from -€71,948 to -€64,173
- Other debts -€7,342
down €7,342 (-60.3%), from €12,186 to €4,843
- Trade debts -€3,991
down €3,991 (-70.2%), from €5,682 to €1,691
- Tax, wage and social debts -€2,399
down €2,399 (-40.8%), from €5,882 to €3,482
of which Remuneration and social security: -€1,841
- Short-term financial debts -€1,324
down €1,324 (-100.0%), from €1,324 to €0
- Other operating charges -€42,625
down €42,625 (-99.6%), from €42,785 to €160
- Gross operating margin +€18,038
up €18,038 (+770.6%), from €2,341 to €20,379
- Taxes +€2,453
up €2,453 (+341.3%), from €719 to €3,172
- Depreciation +€936
up €936 (+1051.2%), from €89 to €1,025
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 | €12,376 | €4,710 | -€7,665 | -61.9% |
| Fixed assets | 21/28 | €1,463 | €2,932 | +€1,469 | +100.4% |
| Tangible fixed assets | 22/27 | €1,463 | €2,932 | +€1,469 | +100.4% |
| Plant, machinery and equipment | 23 | €497 | €572 | +€74 | +15.0% |
| Furniture and vehicles | 24 | €966 | €2,360 | +€1,394 | +144.3% |
| Current assets | 29/58 | €10,913 | €1,779 | -€9,134 | -83.7% |
| Amounts receivable within one year | 40/41 | €8,126 | €1,083 | -€7,043 | -86.7% |
| Trade receivables | 40 | €8,125 | €1,083 | -€7,042 | -86.7% |
| Other amounts receivable | 41 | €1 | €0 | -€1 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,877 | €696 | -€1,181 | -62.9% |
| Deferred charges and accrued income | 490/1 | €910 | €0 | -€910 | -100.0% |
| Total equity and liabilities | 10/49 | €12,376 | €4,710 | -€7,665 | -61.9% |
| Equity | 10/15 | -€13,082 | -€5,306 | +€7,776 | +59.4% |
| Contributions | 10/11 | €39,500 | €39,500 | = | 0.0% |
| Reserves | 13 | €19,366 | €19,366 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €19,366 | €19,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,948 | -€64,173 | +€7,776 | +10.8% |
| Amounts payable | 17/49 | €25,458 | €10,017 | -€15,441 | -60.7% |
| Amounts payable within one year | 42/48 | €25,073 | €10,017 | -€15,057 | -60.1% |
| Financial debts | 43 | €1,324 | €0 | -€1,324 | -100.0% |
| Credit institutions | 430/8 | €1,324 | €0 | -€1,324 | -100.0% |
| Trade debts | 44 | €5,682 | €1,691 | -€3,991 | -70.2% |
| Suppliers | 440/4 | €5,682 | €1,691 | -€3,991 | -70.2% |
| Taxes, remuneration and social security | 45 | €5,882 | €3,482 | -€2,399 | -40.8% |
| Taxes | 450/3 | €4,040 | €3,482 | -€558 | -13.8% |
| Remuneration and social security | 454/9 | €1,841 | €0 | -€1,841 | -100.0% |
| Other amounts payable | 47/48 | €12,186 | €4,843 | -€7,342 | -60.3% |
| Accrued charges and deferred income | 492/3 | €384 | €0 | -€384 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89 | €1,025 | +€936 | +1051.2% |
| Other operating charges | 640/8 | €42,785 | €160 | -€42,625 | -99.6% |
| Non-recurring operating charges | 66A | €15 | €8,014 | +€8,000 | +55094.4% |
| Gross operating margin | 9900 | €2,341 | €20,379 | +€18,038 | +770.6% |
| Operating profit (loss) | 9901 | -€40,548 | €11,179 | +€51,727 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +750.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +750.0% |
| Financial charges | 65/66B | €88 | €233 | +€145 | +165.1% |
| Recurring financial charges | 65 | €88 | €233 | +€145 | +165.1% |
| Profit (loss) for the period before taxes | 9903 | -€40,635 | €10,948 | +€51,583 | |
| Income taxes | 67/77 | €719 | €3,172 | +€2,453 | +341.3% |
| Profit (loss) for the period | 9904 | -€41,354 | €7,776 | +€49,130 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,354 | €7,776 | +€49,130 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.