MANDA: 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.
MANDA
Largest movements
- Receivables within one year -€11,478
down €11,478 (-64.7%), from €17,746 to €6,268
of which Trade receivables: -€13,746
- Cash +€7,756
up €7,756 (+8.9%), from €87,237 to €94,993
mainly Receivables within one year (+€11,478) and Trade debts (+€247)
- Tax, wage and social debts -€2,127
down €2,127 (-100%), from €2,127 to €0
- Gross operating margin +€1,210
up €1,210 (+69.3%), from -€1,746 to -€536
- Financial charges +€244
up €244 (+582%), from €42 to €286
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 | €173,682 | €169,961 | -€3,722 | -2.1% |
| Current assets | 29/58 | €173,682 | €169,961 | -€3,722 | -2.1% |
| Amounts receivable after more than one year | 29 | €68,700 | €68,700 | = | 0.0% |
| Other amounts receivable | 291 | €68,700 | €68,700 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €17,746 | €6,268 | -€11,478 | -64.7% |
| Trade receivables | 40 | €13,746 | €0 | -€13,746 | -100% |
| Other amounts receivable | 41 | €4,000 | €6,268 | +€2,268 | +56.7% |
| Cash at bank and in hand | 54/58 | €87,237 | €94,993 | +€7,756 | +8.9% |
| Total equity and liabilities | 10/49 | €173,682 | €169,961 | -€3,722 | -2.1% |
| Equity | 10/15 | €168,475 | €167,134 | -€1,341 | -0.8% |
| Contributions | 10/11 | €9,210 | €9,210 | = | 0.0% |
| Reserves | 13 | €159,265 | €157,924 | -€1,341 | -0.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €157,405 | €156,064 | -€1,341 | -0.9% |
| Amounts payable | 17/49 | €5,207 | €2,827 | -€2,381 | -45.7% |
| Amounts payable within one year | 42/48 | €5,207 | €2,827 | -€2,381 | -45.7% |
| Trade debts | 44 | €387 | €634 | +€247 | +63.8% |
| Suppliers | 440/4 | €387 | €634 | +€247 | +63.8% |
| Taxes, remuneration and social security | 45 | €2,127 | €0 | -€2,127 | -100% |
| Taxes | 450/3 | €2,127 | €0 | -€2,127 | -100% |
| Other amounts payable | 47/48 | €2,693 | €2,193 | -€501 | -18.6% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€1,746 | -€536 | +€1,210 | +69.3% |
| Operating profit (loss) | 9901 | -€2,251 | -€1,055 | +€1,195 | +53.1% |
| Financial charges | 65/66B | €42 | €286 | +€244 | +582% |
| Recurring financial charges | 65 | €42 | €286 | +€244 | +582% |
| Profit (loss) for the period before taxes | 9903 | -€2,293 | -€1,341 | +€952 | +41.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,293 | -€1,341 | +€952 | +41.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,293 | -€1,341 | +€952 | +41.5% |
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 15 October 2026 via checked.be.