ManCloud: 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.
ManCloud
Largest movements
- Receivables within one year -€87,585
down €87,585 (-74.7%), from €117,260 to €29,675
of which Trade receivables: -€95,959
- Cash -€69,138
down €69,138 (-46.4%), from €148,850 to €79,713
mainly Accrued charges and deferred income (-€170,332) and Investment in fixed assets (net) (-€46,749)
- Intangible fixed assets -€57,345
down €57,345 (-21.3%), from €269,581 to €212,236
- Accrued charges and deferred income -€170,332
down €170,332 (-91.0%), from €187,115 to €16,784
- Current portion of long-term debt -€33,090
down €33,090 (-91.6%), from €36,128 to €3,038
- Trade debts -€22,667
down €22,667 (-75.5%), from €30,026 to €7,359
- Reserves +€22,560
up €22,560 (+9.5%), from €237,807 to €260,367
- Tax, wage and social debts -€10,796
down €10,796 (-41.2%), from €26,198 to €15,401
of which Remuneration and social security: -€12,060
- Gross operating margin -€166,837
down €166,837 (-42.3%), from €394,091 to €227,254
- Staff costs -€106,468
down €106,468 (-54.5%), from €195,475 to €89,006
- Taxes -€17,751
down €17,751 (-71.9%), from €24,682 to €6,931
- Depreciation +€9,966
up €9,966 (+10.5%), from €95,001 to €104,967
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 | €541,631 | €323,149 | -€218,483 | -40.3% |
| Fixed assets | 21/28 | €271,241 | €213,022 | -€58,218 | -21.5% |
| Intangible fixed assets | 21 | €269,581 | €212,236 | -€57,345 | -21.3% |
| Tangible fixed assets | 22/27 | €979 | €506 | -€473 | -48.4% |
| Furniture and vehicles | 24 | €979 | €506 | -€473 | -48.4% |
| Financial fixed assets | 28 | €680 | €280 | -€400 | -58.8% |
| Current assets | 29/58 | €270,391 | €110,127 | -€160,264 | -59.3% |
| Amounts receivable within one year | 40/41 | €117,260 | €29,675 | -€87,585 | -74.7% |
| Trade receivables | 40 | €109,042 | €13,083 | -€95,959 | -88.0% |
| Other amounts receivable | 41 | €8,218 | €16,592 | +€8,374 | +101.9% |
| Cash at bank and in hand | 54/58 | €148,850 | €79,713 | -€69,138 | -46.4% |
| Deferred charges and accrued income | 490/1 | €4,281 | €739 | -€3,542 | -82.7% |
| Total equity and liabilities | 10/49 | €541,631 | €323,149 | -€218,483 | -40.3% |
| Equity | 10/15 | €258,007 | €280,567 | +€22,560 | +8.7% |
| Contributions | 10/11 | €20,200 | €20,200 | = | 0.0% |
| Reserves | 13 | €237,807 | €260,367 | +€22,560 | +9.5% |
| Distributable reserves | 133 | €237,807 | €260,367 | +€22,560 | +9.5% |
| Amounts payable | 17/49 | €283,625 | €42,582 | -€241,043 | -85.0% |
| Amounts payable after more than one year | 17 | €3,038 | - | -€3,038 | |
| Financial debts | 170/4 | €3,038 | - | -€3,038 | |
| Amounts payable within one year | 42/48 | €93,471 | €25,798 | -€67,673 | -72.4% |
| Current portion of amounts payable after more than one year | 42 | €36,128 | €3,038 | -€33,090 | -91.6% |
| Trade debts | 44 | €30,026 | €7,359 | -€22,667 | -75.5% |
| Suppliers | 440/4 | €30,026 | €7,359 | -€22,667 | -75.5% |
| Advances received on contracts in progress | 46 | €1,120 | - | -€1,120 | |
| Taxes, remuneration and social security | 45 | €26,198 | €15,401 | -€10,796 | -41.2% |
| Taxes | 450/3 | €440 | €1,704 | +€1,264 | +287.4% |
| Remuneration and social security | 454/9 | €25,758 | €13,698 | -€12,060 | -46.8% |
| Accrued charges and deferred income | 492/3 | €187,115 | €16,784 | -€170,332 | -91.0% |
| Remuneration, social security and pensions | 62 | €195,475 | €89,006 | -€106,468 | -54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,001 | €104,967 | +€9,966 | +10.5% |
| Other operating charges | 640/8 | €528 | €3,436 | +€2,908 | +551.0% |
| Gross operating margin | 9900 | €394,091 | €227,254 | -€166,837 | -42.3% |
| Operating profit (loss) | 9901 | €103,088 | €29,845 | -€73,243 | -71.0% |
| Financial income | 75/76B | €1,554 | €759 | -€795 | -51.2% |
| Recurring financial income | 75 | €1,554 | €759 | -€795 | -51.2% |
| Financial charges | 65/66B | €2,488 | €1,112 | -€1,376 | -55.3% |
| Recurring financial charges | 65 | €2,488 | €1,112 | -€1,376 | -55.3% |
| Profit (loss) for the period before taxes | 9903 | €102,154 | €29,491 | -€72,662 | -71.1% |
| Income taxes | 67/77 | €24,682 | €6,931 | -€17,751 | -71.9% |
| Profit (loss) for the period | 9904 | €77,471 | €22,560 | -€54,911 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €77,471 | €22,560 | -€54,911 | -70.9% |
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 5 October 2026 via checked.be.