Manchild: 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.
Manchild
Largest movements
- Cash +€74,247
up €74,247 (+79.3%), from €93,672 to €167,919
mainly Net result for the year (+€248,903) and Stocks and contracts (+€53,774)
- Stocks and contracts -€53,774
down €53,774 (-25.2%), from €213,049 to €159,275
- Receivables within one year +€31,430
up €31,430 (+22.1%), from €142,041 to €173,471
of which Other amounts receivable: +€37,774
- Deferred charges and accrued income +€6,298
up €6,298 (+95.7%), from €6,581 to €12,879
- Reserves +€248,903
up €248,903 (+121.2%), from €205,285 to €454,189
- Short-term financial debts -€110,000
no longer reported in 2025 (was €110,000)
- Other debts -€97,193
no longer reported in 2025 (was €97,193)
- Accrued charges and deferred income +€6,073
new in 2025: €6,073
- Gross operating margin +€264,565
up €264,565 (+112.0%), from €236,281 to €500,845
- Taxes +€79,891
up €79,891 (+260.8%), from €30,637 to €110,529
- Write-downs +€49,785
up €49,785 (+121.4%), from €41,018 to €90,803
- Financial charges -€5,739
down €5,739 (-26.4%), from €21,761 to €16,022
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 | €478,683 | €533,996 | +€55,313 | +11.6% |
| Fixed assets | 21/28 | €23,339 | €20,452 | -€2,888 | -12.4% |
| Tangible fixed assets | 22/27 | €23,339 | €20,452 | -€2,888 | -12.4% |
| Plant, machinery and equipment | 23 | €5,037 | €3,627 | -€1,410 | -28.0% |
| Furniture and vehicles | 24 | €5,889 | €9,155 | +€3,265 | +55.4% |
| Other tangible fixed assets | 26 | €12,413 | €7,670 | -€4,743 | -38.2% |
| Current assets | 29/58 | €455,344 | €513,545 | +€58,201 | +12.8% |
| Stocks and contracts in progress | 3 | €213,049 | €159,275 | -€53,774 | -25.2% |
| Stocks | 30/36 | €213,049 | €159,275 | -€53,774 | -25.2% |
| Amounts receivable within one year | 40/41 | €142,041 | €173,471 | +€31,430 | +22.1% |
| Trade receivables | 40 | €105,999 | €99,654 | -€6,344 | -6.0% |
| Other amounts receivable | 41 | €36,042 | €73,817 | +€37,774 | +104.8% |
| Cash at bank and in hand | 54/58 | €93,672 | €167,919 | +€74,247 | +79.3% |
| Deferred charges and accrued income | 490/1 | €6,581 | €12,879 | +€6,298 | +95.7% |
| Total equity and liabilities | 10/49 | €478,683 | €533,996 | +€55,313 | +11.6% |
| Equity | 10/15 | €223,885 | €472,789 | +€248,903 | +111.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €205,285 | €454,189 | +€248,903 | +121.2% |
| Distributable reserves | 133 | €205,285 | €454,189 | +€248,903 | +121.2% |
| Amounts payable | 17/49 | €254,798 | €61,208 | -€193,590 | -76.0% |
| Amounts payable within one year | 42/48 | €254,798 | €55,134 | -€199,663 | -78.4% |
| Financial debts | 43 | €110,000 | - | -€110,000 | |
| Credit institutions | 430/8 | €110,000 | - | -€110,000 | |
| Trade debts | 44 | €11,026 | €16,168 | +€5,142 | +46.6% |
| Suppliers | 440/4 | €11,026 | €16,168 | +€5,142 | +46.6% |
| Advances received on contracts in progress | 46 | €546 | €546 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €36,033 | €38,421 | +€2,388 | +6.6% |
| Taxes | 450/3 | €33,003 | €33,302 | +€299 | +0.9% |
| Remuneration and social security | 454/9 | €3,030 | €5,119 | +€2,089 | +69.0% |
| Other amounts payable | 47/48 | €97,193 | - | -€97,193 | |
| Accrued charges and deferred income | 492/3 | - | €6,073 | +€6,073 | |
| Non-recurring operating income | 76A | - | €24,007 | +€24,007 | |
| Remuneration, social security and pensions | 62 | €24,324 | €25,449 | +€1,125 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,618 | €9,833 | -€4,785 | -32.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €41,018 | €90,803 | +€49,785 | +121.4% |
| Other operating charges | 640/8 | €2,701 | €2,345 | -€356 | -13.2% |
| Non-recurring operating charges | 66A | €17,376 | - | -€17,376 | |
| Gross operating margin | 9900 | €236,281 | €500,845 | +€264,565 | +112.0% |
| Operating profit (loss) | 9901 | €136,244 | €372,416 | +€236,172 | +173.3% |
| Financial income | 75/76B | €1,889 | €3,038 | +€1,149 | +60.8% |
| Recurring financial income | 75 | €1,889 | €3,038 | +€1,149 | +60.8% |
| Financial charges | 65/66B | €21,761 | €16,022 | -€5,739 | -26.4% |
| Recurring financial charges | 65 | €21,761 | €16,022 | -€5,739 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €116,372 | €359,432 | +€243,060 | +208.9% |
| Income taxes | 67/77 | €30,637 | €110,529 | +€79,891 | +260.8% |
| Profit (loss) for the period | 9904 | €85,735 | €248,903 | +€163,169 | +190.3% |
| Profit (loss) for the period to be appropriated | 9905 | €85,735 | €248,903 | +€163,169 | +190.3% |
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 1 October 2026 via checked.be.