Mandarine: 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.
Mandarine
Largest movements
- Receivables within one year +€15,989
up €15,989 (+26,121%), from €61 to €16,050
of which Trade receivables: +€11,050
- Cash +€10,631
up €10,631 (+60.1%), from €17,676 to €28,307
mainly Net result for the year (+€22,467) and Tax, wage and social debts (+€4,687)
- Tangible fixed assets +€533
up €533, from €0 to €533
- Reserves +€22,475
up €22,475 (+173%), from €13,000 to €35,475
of which Distributable reserves: +€22,475
- Tax, wage and social debts +€4,687
up €4,687 (+126%), from €3,723 to €8,410
of which Taxes: +€4,988
- Gross operating margin +€12,709
up €12,709 (+60.8%), from €20,902 to €33,611
- Purchases and services -€7,510
down €7,510 (-64.3%), from €11,683 to €4,173
- Turnover +€5,199
up €5,199 (+16.0%), from €32,584 to €37,783
- Taxes +€4,988
up €4,988 (+146%), from €3,422 to €8,410
- Other operating charges -€2,619
down €2,619 (-87.3%), from €3,000 to €382
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 | €17,737 | €44,890 | +€27,153 | +153% |
| Fixed assets | 21/28 | €0 | €533 | +€533 | |
| Tangible fixed assets | 22/27 | €0 | €533 | +€533 | |
| Furniture and vehicles | 24 | €0 | €533 | +€533 | |
| Current assets | 29/58 | €17,737 | €44,357 | +€26,620 | +150% |
| Amounts receivable within one year | 40/41 | €61 | €16,050 | +€15,989 | +26,121% |
| Trade receivables | 40 | - | €11,050 | +€11,050 | |
| Other amounts receivable | 41 | €61 | €5,000 | +€4,939 | +8,069% |
| Cash at bank and in hand | 54/58 | €17,676 | €28,307 | +€10,631 | +60.1% |
| Total equity and liabilities | 10/49 | €17,737 | €44,890 | +€27,153 | +153% |
| Equity | 10/15 | €14,013 | €36,480 | +€22,467 | +160% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | - | -€1,000 | |
| Issued capital | 100 | €1,000 | - | -€1,000 | |
| Reserves | 13 | €13,000 | €35,475 | +€22,475 | +173% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Legal reserve | 130 | €100 | - | -€100 | |
| Reserves not available under the articles | 1311 | - | €100 | +€100 | |
| Distributable reserves | 133 | €12,900 | €35,375 | +€22,475 | +174% |
| Profit (loss) carried forward | 14 | €13 | €5 | -€8 | -60.1% |
| Amounts payable | 17/49 | €3,723 | €8,410 | +€4,687 | +126% |
| Amounts payable within one year | 42/48 | €3,723 | €8,410 | +€4,687 | +126% |
| Taxes, remuneration and social security | 45 | €3,723 | €8,410 | +€4,687 | +126% |
| Taxes | 450/3 | €3,422 | €8,410 | +€4,988 | +146% |
| Remuneration and social security | 454/9 | €302 | - | -€302 | |
| Turnover | 70 | €32,584 | €37,783 | +€5,199 | +16.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €11,683 | €4,173 | -€7,510 | -64.3% |
| Remuneration, social security and pensions | 62 | €3,652 | €2,220 | -€1,431 | -39.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91 | €11 | -€79 | -87.4% |
| Other operating charges | 640/8 | €3,000 | €382 | -€2,619 | -87.3% |
| Gross operating margin | 9900 | €20,902 | €33,611 | +€12,709 | +60.8% |
| Operating profit (loss) | 9901 | €14,159 | €30,997 | +€16,838 | +119% |
| Financial charges | 65/66B | €1,700 | €120 | -€1,580 | -92.9% |
| Recurring financial charges | 65 | €70 | €120 | +€50 | +71.4% |
| Non-recurring financial charges | 66B | €1,630 | - | -€1,630 | |
| Profit (loss) for the period before taxes | 9903 | €12,459 | €30,877 | +€18,418 | +148% |
| Income taxes | 67/77 | €3,422 | €8,410 | +€4,988 | +146% |
| Profit (loss) for the period | 9904 | €9,037 | €22,467 | +€13,430 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €9,037 | €22,467 | +€13,430 | +149% |
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 22 October 2026 via checked.be.