MANBO: 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.
MANBO
Largest movements
- Receivables within one year +€25,776
up €25,776 (+804%), from €3,204 to €28,980
of which Trade receivables: +€20,147
- Cash -€13,876
down €13,876 (-5.9%), from €235,783 to €221,907
mainly Receivables within one year (-€25,776) and Current investments (-€6,507)
- Current investments +€6,507
up €6,507 (+4.9%), from €132,036 to €138,543
- Reserves +€13,617
up €13,617 (+4.4%), from €312,040 to €325,657
- Gross operating margin -€5,960
down €5,960 (-48.4%), from €12,317 to €6,357
- Financial charges -€4,820
down €4,820 (-306%), from -€1,576 to -€6,395
- Taxes -€3,640
down €3,640 (-77.6%), from €4,688 to €1,048
- Depreciation -€767
down €767 (-100%), from €767 to €0
- Other operating charges +€622
up €622 (+32.9%), from €1,891 to €2,513
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 | €431,787 | €450,236 | +€18,450 | +4.3% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €431,787 | €450,236 | +€18,450 | +4.3% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,204 | €28,980 | +€25,776 | +804% |
| Trade receivables | 40 | €0 | €20,147 | +€20,147 | |
| Other amounts receivable | 41 | €3,204 | €8,834 | +€5,629 | +176% |
| Current investments | 50/53 | €132,036 | €138,543 | +€6,507 | +4.9% |
| Cash at bank and in hand | 54/58 | €235,783 | €221,907 | -€13,876 | -5.9% |
| Deferred charges and accrued income | 490/1 | €763 | €806 | +€42 | +5.6% |
| Total equity and liabilities | 10/49 | €431,787 | €450,236 | +€18,450 | +4.3% |
| Equity | 10/15 | €425,776 | €440,657 | +€14,881 | +3.5% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €312,040 | €325,657 | +€13,617 | +4.4% |
| Distributable reserves | 133 | €312,040 | €325,657 | +€13,617 | +4.4% |
| Profit (loss) carried forward | 14 | -€1,264 | €0 | +€1,264 | |
| Amounts payable | 17/49 | €6,010 | €9,579 | +€3,569 | +59.4% |
| Amounts payable within one year | 42/48 | €6,010 | €9,579 | +€3,569 | +59.4% |
| Taxes, remuneration and social security | 45 | €3,667 | €6,653 | +€2,985 | +81.4% |
| Taxes | 450/3 | €3,667 | €6,653 | +€2,985 | +81.4% |
| Other amounts payable | 47/48 | €2,343 | €2,926 | +€583 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €767 | €0 | -€767 | -100% |
| Other operating charges | 640/8 | €1,891 | €2,513 | +€622 | +32.9% |
| Gross operating margin | 9900 | €12,317 | €6,357 | -€5,960 | -48.4% |
| Operating profit (loss) | 9901 | €9,659 | €3,845 | -€5,815 | -60.2% |
| Financial income | 75/76B | €5,993 | €6,522 | +€529 | +8.8% |
| Recurring financial income | 75 | €5,993 | €6,522 | +€529 | +8.8% |
| Financial charges | 65/66B | -€1,576 | -€6,395 | -€4,820 | -306% |
| Recurring financial charges | 65 | -€1,576 | -€6,395 | -€4,820 | -306% |
| Profit (loss) for the period before taxes | 9903 | €17,228 | €16,762 | -€466 | -2.7% |
| Income taxes | 67/77 | €4,688 | €1,048 | -€3,640 | -77.6% |
| Profit (loss) for the period | 9904 | €12,540 | €15,714 | +€3,174 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,540 | €15,714 | +€3,174 | +25.3% |
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 18 October 2026 via checked.be.