MANCHESTER II: 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.
MANCHESTER II
Largest movements
- Receivables within one year +€202,368
up €202,368 (+32.9%), from €614,563 to €816,930
of which Other amounts receivable: +€202,792
- Stocks and contracts -€23,671
down €23,671 (-3.8%), from €624,006 to €600,335
- Reserves +€145,000
up €145,000 (+445%), from €32,605 to €177,605
of which Distributable reserves: +€145,000
- Debts after one year +€31,614
up €31,614 (+2.8%), from €1.1m to €1.2m
- Gross operating margin -€150,416
down €150,416 (-41.3%), from €364,631 to €214,216
- Taxes +€44,847
up €44,847 (+1,088%), from €4,124 to €48,970
- Financial charges -€13,467
down €13,467 (-28.4%), from €47,377 to €33,910
- Financial income +€6,125
up €6,125 (+57.9%), from €10,575 to €16,700
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 | €1,243,089 | €1,418,094 | +€175,004 | +14.1% |
| Current assets | 29/58 | €1,243,089 | €1,418,094 | +€175,004 | +14.1% |
| Stocks and contracts in progress | 3 | €624,006 | €600,335 | -€23,671 | -3.8% |
| Stocks | 30/36 | €624,006 | €600,335 | -€23,671 | -3.8% |
| Amounts receivable within one year | 40/41 | €614,563 | €816,930 | +€202,368 | +32.9% |
| Trade receivables | 40 | €425 | €0 | -€425 | -100% |
| Other amounts receivable | 41 | €614,138 | €816,930 | +€202,792 | +33.0% |
| Cash at bank and in hand | 54/58 | €4,521 | €828 | -€3,692 | -81.7% |
| Total equity and liabilities | 10/49 | €1,243,089 | €1,418,094 | +€175,004 | +14.1% |
| Equity | 10/15 | €95,748 | €242,658 | +€146,910 | +153% |
| Contributions | 10/11 | €62,848 | €62,848 | = | 0.0% |
| Capital | 10 | €62,848 | €62,848 | = | 0.0% |
| Issued capital | 100 | €62,848 | €62,848 | = | 0.0% |
| Reserves | 13 | €32,605 | €177,605 | +€145,000 | +445% |
| Non-distributable reserves | 130/1 | €17,605 | €17,605 | = | 0.0% |
| Legal reserve | 130 | €17,605 | €17,605 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €160,000 | +€145,000 | +967% |
| Profit (loss) carried forward | 14 | €295 | €2,205 | +€1,910 | +648% |
| Amounts payable | 17/49 | €1,147,342 | €1,175,436 | +€28,094 | +2.4% |
| Amounts payable after more than one year | 17 | €1,141,566 | €1,173,180 | +€31,614 | +2.8% |
| Other amounts payable | 178/9 | €1,141,566 | €1,173,180 | +€31,614 | +2.8% |
| Amounts payable within one year | 42/48 | €5,728 | €2,208 | -€3,520 | -61.4% |
| Trade debts | 44 | €1,605 | €2,208 | +€604 | +37.6% |
| Suppliers | 440/4 | €1,605 | €2,208 | +€604 | +37.6% |
| Taxes, remuneration and social security | 45 | €4,124 | €0 | -€4,124 | -100% |
| Taxes | 450/3 | €4,124 | €0 | -€4,124 | -100% |
| Accrued charges and deferred income | 492/3 | €48 | €47 | -€0 | -0.1% |
| Other operating charges | 640/8 | €1,141 | €1,124 | -€16 | -1.4% |
| Gross operating margin | 9900 | €364,631 | €214,216 | -€150,416 | -41.3% |
| Operating profit (loss) | 9901 | €363,491 | €213,091 | -€150,400 | -41.4% |
| Financial income | 75/76B | €10,575 | €16,700 | +€6,125 | +57.9% |
| Recurring financial income | 75 | €10,575 | €16,700 | +€6,125 | +57.9% |
| Financial charges | 65/66B | €47,377 | €33,910 | -€13,467 | -28.4% |
| Recurring financial charges | 65 | €47,377 | €33,910 | -€13,467 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €326,688 | €195,880 | -€130,808 | -40.0% |
| Income taxes | 67/77 | €4,124 | €48,970 | +€44,847 | +1,088% |
| Profit (loss) for the period | 9904 | €322,565 | €146,910 | -€175,654 | -54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €322,565 | €146,910 | -€175,654 | -54.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.