MANDACHE CONSTRUCT: 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.
MANDACHE CONSTRUCT
Largest movements
- Cash +€41,348
up €41,348 (+45.2%), from €91,427 to €132,775
mainly Net result for the year (+€41,342) and Trade debts (+€35,346)
- Receivables within one year +€16,562
up €16,562 (+29.9%), from €55,367 to €71,929
of which Trade receivables: +€26,975
- Tangible fixed assets +€13,727
up €13,727 (+28.1%), from €48,791 to €62,518
of which Furniture and vehicles: +€28,068
- Profit (loss) carried forward +€41,342
up €41,342 (+43.4%), from €95,364 to €136,705
- Trade debts +€35,346
up €35,346 (+321.4%), from €10,998 to €46,344
of which Suppliers: +€40,198
- Tax, wage and social debts -€12,391
down €12,391 (-37.4%), from €33,157 to €20,766
of which Taxes: -€12,065
- Debts after one year +€11,010
up €11,010 (+36.4%), from €30,254 to €41,263
- Current portion of long-term debt -€3,670
down €3,670 (-17.4%), from €21,078 to €17,408
- Turnover +€187,052
up €187,052 (+46.2%), from €404,929 to €591,981
- Purchases and services +€141,428
up €141,428 (+42.8%), from €330,225 to €471,654
- Gross operating margin +€45,283
up €45,283 (+58.5%), from €77,465 to €122,748
- Taxes +€10,758
up €10,758 (+226.9%), from €4,742 to €15,500
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 | €196,075 | €267,712 | +€71,637 | +36.5% |
| Fixed assets | 21/28 | €49,281 | €63,008 | +€13,727 | +27.9% |
| Tangible fixed assets | 22/27 | €48,791 | €62,518 | +€13,727 | +28.1% |
| Furniture and vehicles | 24 | €2,715 | €30,783 | +€28,068 | +1033.9% |
| Leasing and similar rights | 25 | €46,076 | €31,735 | -€14,341 | -31.1% |
| Financial fixed assets | 28 | €490 | €490 | = | 0.0% |
| Current assets | 29/58 | €146,794 | €204,704 | +€57,910 | +39.4% |
| Amounts receivable within one year | 40/41 | €55,367 | €71,929 | +€16,562 | +29.9% |
| Trade receivables | 40 | €34,411 | €61,386 | +€26,975 | +78.4% |
| Other amounts receivable | 41 | €20,956 | €10,543 | -€10,413 | -49.7% |
| Cash at bank and in hand | 54/58 | €91,427 | €132,775 | +€41,348 | +45.2% |
| Total equity and liabilities | 10/49 | €196,075 | €267,712 | +€71,637 | +36.5% |
| Equity | 10/15 | €100,589 | €141,930 | +€41,342 | +41.1% |
| Contributions | 10/11 | €4,750 | €4,750 | = | 0.0% |
| Capital | 10 | €4,750 | - | -€4,750 | |
| Issued capital | 100 | €4,750 | - | -€4,750 | |
| Reserves | 13 | €475 | €475 | = | 0.0% |
| Non-distributable reserves | 130/1 | €475 | - | -€475 | |
| Legal reserve | 130 | €475 | - | -€475 | |
| Distributable reserves | 133 | - | €475 | +€475 | |
| Profit (loss) carried forward | 14 | €95,364 | €136,705 | +€41,342 | +43.4% |
| Amounts payable | 17/49 | €95,486 | €125,782 | +€30,295 | +31.7% |
| Amounts payable after more than one year | 17 | €30,254 | €41,263 | +€11,010 | +36.4% |
| Financial debts | 170/4 | €30,254 | €41,263 | +€11,010 | +36.4% |
| Amounts payable within one year | 42/48 | €65,233 | €84,518 | +€19,285 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | €21,078 | €17,408 | -€3,670 | -17.4% |
| Trade debts | 44 | €10,998 | €46,344 | +€35,346 | +321.4% |
| Suppliers | 440/4 | €6,146 | €46,344 | +€40,198 | +654.0% |
| Bills of exchange payable | 441 | €4,852 | - | -€4,852 | |
| Taxes, remuneration and social security | 45 | €33,157 | €20,766 | -€12,391 | -37.4% |
| Taxes | 450/3 | €19,091 | €7,026 | -€12,065 | -63.2% |
| Remuneration and social security | 454/9 | €14,066 | €13,740 | -€326 | -2.3% |
| Turnover | 70 | €404,929 | €591,981 | +€187,052 | +46.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €330,225 | €471,654 | +€141,428 | +42.8% |
| Remuneration, social security and pensions | 62 | €33,691 | €37,250 | +€3,558 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,076 | €20,420 | +€5,344 | +35.4% |
| Other operating charges | 640/8 | €5,272 | €3,099 | -€2,173 | -41.2% |
| Gross operating margin | 9900 | €77,465 | €122,748 | +€45,283 | +58.5% |
| Operating profit (loss) | 9901 | €23,425 | €61,979 | +€38,554 | +164.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,245 | €5,137 | +€892 | +21.0% |
| Recurring financial charges | 65 | €4,245 | €5,137 | +€892 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €19,180 | €56,842 | +€37,661 | +196.4% |
| Income taxes | 67/77 | €4,742 | €15,500 | +€10,758 | +226.9% |
| Profit (loss) for the period | 9904 | €14,439 | €41,342 | +€26,903 | +186.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,439 | €41,342 | +€26,903 | +186.3% |
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 10 October 2026 via checked.be.