MANCI: what changed
MANCI
Largest movements
- Receivables within one year +€224,404
up €224,404 (+49.0%), from €458,330 to €682,734
of which Other amounts receivable: +€146,925
- Cash -€117,313
down €117,313 (-30.9%), from €379,997 to €262,684
mainly Receivables within one year (-€224,404) and Contributions, distributions and other (-€135,000)
- Tangible fixed assets -€33,797
down €33,797 (-5.2%), from €646,496 to €612,699
of which Furniture and vehicles: -€18,123
- Debts after one year +€201,895
up €201,895 (+50.7%), from €398,506 to €600,401
- Advances received -€65,606
down €65,606 (-100%), from €65,606 to €0
- Reserves -€54,000
down €54,000 (-5.6%), from €963,000 to €909,000
- Accrued charges and deferred income -€28,223
down €28,223 (-35.5%), from €79,545 to €51,322
- Financial income -€70,440
down €70,440 (-77.2%), from €91,220 to €20,780
of which Financial income: -€68,997
- Gross operating margin +€31,431
up €31,431 (+17.6%), from €178,814 to €210,245
- Financial charges -€27,772
down €27,772 (-26.0%), from €106,702 to €78,930
- Taxes +€15,056
up €15,056 (+91.8%), from €16,403 to €31,459
- Depreciation -€9,742
down €9,742 (-22.6%), from €43,066 to €33,324
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,412,812 | €2,504,892 | +€92,081 | +3.8% |
| Fixed assets | 21/28 | €1,545,552 | €1,531,755 | -€13,797 | -0.9% |
| Tangible fixed assets | 22/27 | €646,496 | €612,699 | -€33,797 | -5.2% |
| Furniture and vehicles | 24 | €58,674 | €40,551 | -€18,123 | -30.9% |
| Other tangible fixed assets | 26 | €587,822 | €572,148 | -€15,674 | -2.7% |
| Financial fixed assets | 28 | €899,056 | €919,056 | +€20,000 | +2.2% |
| Current assets | 29/58 | €867,260 | €973,137 | +€105,877 | +12.2% |
| Amounts receivable within one year | 40/41 | €458,330 | €682,734 | +€224,404 | +49.0% |
| Trade receivables | 40 | €26,868 | €104,347 | +€77,479 | +288% |
| Other amounts receivable | 41 | €431,462 | €578,386 | +€146,925 | +34.1% |
| Cash at bank and in hand | 54/58 | €379,997 | €262,684 | -€117,313 | -30.9% |
| Deferred charges and accrued income | 490/1 | €28,933 | €27,720 | -€1,213 | -4.2% |
| Total equity and liabilities | 10/49 | €2,412,812 | €2,504,892 | +€92,081 | +3.8% |
| Equity | 10/15 | €982,326 | €928,078 | -€54,248 | -5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €963,000 | €909,000 | -€54,000 | -5.6% |
| Distributable reserves | 133 | €963,000 | €909,000 | -€54,000 | -5.6% |
| Profit (loss) carried forward | 14 | €726 | €478 | -€248 | -34.2% |
| Amounts payable | 17/49 | €1,430,486 | €1,576,815 | +€146,329 | +10.2% |
| Amounts payable after more than one year | 17 | €398,506 | €600,401 | +€201,895 | +50.7% |
| Financial debts | 170/4 | €398,506 | €600,401 | +€201,895 | +50.7% |
| Amounts payable within one year | 42/48 | €952,435 | €925,091 | -€27,344 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €42,502 | €67,371 | +€24,869 | +58.5% |
| Financial debts | 43 | - | €49 | +€49 | |
| Credit institutions | 430/8 | - | €49 | +€49 | |
| Trade debts | 44 | €707 | €19,624 | +€18,916 | +2,675% |
| Suppliers | 440/4 | €707 | €19,624 | +€18,916 | +2,675% |
| Advances received on contracts in progress | 46 | €65,606 | €0 | -€65,606 | -100% |
| Taxes, remuneration and social security | 45 | €11,952 | €12,826 | +€874 | +7.3% |
| Taxes | 450/3 | €7,130 | €12,826 | +€5,696 | +79.9% |
| Remuneration and social security | 454/9 | €4,822 | €0 | -€4,822 | -100% |
| Other amounts payable | 47/48 | €831,668 | €825,222 | -€6,446 | -0.8% |
| Accrued charges and deferred income | 492/3 | €79,545 | €51,322 | -€28,223 | -35.5% |
| Non-recurring operating income | 76A | - | €15,918 | +€15,918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,066 | €33,324 | -€9,742 | -22.6% |
| Other operating charges | 640/8 | €5,570 | €6,559 | +€989 | +17.8% |
| Gross operating margin | 9900 | €178,814 | €210,245 | +€31,431 | +17.6% |
| Operating profit (loss) | 9901 | €130,178 | €170,361 | +€40,184 | +30.9% |
| Financial income | 75/76B | €91,220 | €20,780 | -€70,440 | -77.2% |
| Recurring financial income | 75 | €89,777 | €20,780 | -€68,997 | -76.9% |
| Non-recurring financial income | 76B | €1,443 | €0 | -€1,443 | -100% |
| Financial charges | 65/66B | €106,702 | €78,930 | -€27,772 | -26.0% |
| Recurring financial charges | 65 | €106,702 | €78,930 | -€27,772 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €114,696 | €112,211 | -€2,484 | -2.2% |
| Income taxes | 67/77 | €16,403 | €31,459 | +€15,056 | +91.8% |
| Profit (loss) for the period | 9904 | €98,292 | €80,752 | -€17,540 | -17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €98,292 | €80,752 | -€17,540 | -17.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.