MANDAFIN: 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.
MANDAFIN
Largest movements
- Cash -€3,846
down €3,846 (-21.2%), from €18,132 to €14,286
mainly Contributions, distributions and other (-€47,059) and Tax, wage and social debts (-€1,977)
- Receivables within one year +€1,453
up €1,453 (+1.4%), from €106,619 to €108,071
of which Other amounts receivable: +€1,453
- Profit (loss) carried forward -€40,955
down €40,955 (-52.1%), from €78,606 to €37,651
- Other debts +€40,719
up €40,719 (+137.6%), from €29,603 to €70,322
- Tax, wage and social debts -€1,977
down €1,977 (-100.0%), from €1,977 to €0
- Gross operating margin -€2,471
down €2,471 (-17.8%), from €13,841 to €11,371
- Taxes -€1,289
down €1,289 (-33.6%), from €3,832 to €2,543
- Depreciation -€333
down €333 (-100.0%), from €333 to €0
- Financial charges -€161
down €161 (-7.0%), from €2,299 to €2,138
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 | €124,790 | €122,357 | -€2,433 | -1.9% |
| Current assets | 29/58 | €124,790 | €122,357 | -€2,433 | -1.9% |
| Amounts receivable within one year | 40/41 | €106,619 | €108,071 | +€1,453 | +1.4% |
| Trade receivables | 40 | €106,500 | €106,500 | = | 0.0% |
| Other amounts receivable | 41 | €119 | €1,571 | +€1,453 | +1222.5% |
| Cash at bank and in hand | 54/58 | €18,132 | €14,286 | -€3,846 | -21.2% |
| Deferred charges and accrued income | 490/1 | €39 | €0 | -€39 | -100.0% |
| Total equity and liabilities | 10/49 | €124,790 | €122,357 | -€2,433 | -1.9% |
| Equity | 10/15 | €90,426 | €49,471 | -€40,955 | -45.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €6,820 | €6,820 | = | 0.0% |
| Distributable reserves | 133 | €6,820 | €6,820 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,606 | €37,651 | -€40,955 | -52.1% |
| Amounts payable | 17/49 | €34,364 | €72,887 | +€38,523 | +112.1% |
| Amounts payable within one year | 42/48 | €34,364 | €72,887 | +€38,523 | +112.1% |
| Trade debts | 44 | €2,784 | €2,565 | -€220 | -7.9% |
| Suppliers | 440/4 | €2,784 | €2,565 | -€220 | -7.9% |
| Taxes, remuneration and social security | 45 | €1,977 | €0 | -€1,977 | -100.0% |
| Taxes | 450/3 | €1,977 | €0 | -€1,977 | -100.0% |
| Other amounts payable | 47/48 | €29,603 | €70,322 | +€40,719 | +137.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €333 | €0 | -€333 | -100.0% |
| Other operating charges | 640/8 | €558 | €586 | +€28 | +5.0% |
| Gross operating margin | 9900 | €13,841 | €11,371 | -€2,471 | -17.8% |
| Operating profit (loss) | 9901 | €12,950 | €10,785 | -€2,165 | -16.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €2,299 | €2,138 | -€161 | -7.0% |
| Recurring financial charges | 65 | €2,299 | €2,138 | -€161 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €10,652 | €8,647 | -€2,005 | -18.8% |
| Income taxes | 67/77 | €3,832 | €2,543 | -€1,289 | -33.6% |
| Profit (loss) for the period | 9904 | €6,820 | €6,104 | -€716 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,820 | €6,104 | -€716 | -10.5% |
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 10 October 2026 via checked.be.