Mandarino: 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.
Mandarino
Largest movements
- Cash -€2,267
down €2,267 (-49.2%), from €4,607 to €2,340
mainly Net result for the year (-€11,986)
- Profit (loss) carried forward -€11,986
down €11,986 (-73.2%), from -€16,385 to -€28,371
- Trade debts +€9,674
up €9,674 (+103%), from €9,357 to €19,031
- Gross operating margin -€52,597
down €52,597, from €40,985 to -€11,612
- Other operating charges -€848
down €848 (-61.7%), from €1,373 to €526
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 | €22,972 | €20,660 | -€2,312 | -10.1% |
| Fixed assets | 21/28 | €18,187 | €18,187 | = | 0.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Financial fixed assets | 28 | €18,187 | €18,187 | = | 0.0% |
| Current assets | 29/58 | €4,785 | €2,473 | -€2,312 | -48.3% |
| Cash at bank and in hand | 54/58 | €4,607 | €2,340 | -€2,267 | -49.2% |
| Deferred charges and accrued income | 490/1 | €178 | €133 | -€45 | -25.2% |
| Total equity and liabilities | 10/49 | €22,972 | €20,660 | -€2,312 | -10.1% |
| Equity | 10/15 | €13,615 | €1,629 | -€11,986 | -88.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,385 | -€28,371 | -€11,986 | -73.2% |
| Amounts payable | 17/49 | €9,357 | €19,031 | +€9,674 | +103% |
| Amounts payable within one year | 42/48 | €9,357 | €19,031 | +€9,674 | +103% |
| Trade debts | 44 | €9,357 | €19,031 | +€9,674 | +103% |
| Suppliers | 440/4 | €9,357 | €19,031 | +€9,674 | +103% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,373 | €526 | -€848 | -61.7% |
| Gross operating margin | 9900 | €40,985 | -€11,612 | -€52,597 | |
| Operating profit (loss) | 9901 | €39,612 | -€12,138 | -€51,750 | |
| Financial charges | 65/66B | €80 | -€152 | -€232 | |
| Recurring financial charges | 65 | €80 | -€152 | -€232 | |
| Profit (loss) for the period before taxes | 9903 | €39,532 | -€11,986 | -€51,518 | |
| Profit (loss) for the period | 9904 | €39,532 | -€11,986 | -€51,518 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,532 | -€11,986 | -€51,518 |
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 21 October 2026 via checked.be.