MANDEW: what changed
Two fiscal 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.
MANDEW
Largest movements
- Tangible fixed assets -€13,901
down €13,901 (-6.0%), from €231,626 to €217,725
- Cash -€13,701
down €13,701 (-85.1%), from €16,095 to €2,395
mainly Debts after one year (-€25,565) and Net result for the year (-€3,481)
- Debts after one year -€25,565
down €25,565 (-15.0%), from €170,251 to €144,686
- Profit (loss) carried forward -€3,481
down €3,481 (-114.8%), from -€3,033 to -€6,514
- Gross operating margin -€16,907
down €16,907 (-43.9%), from €38,485 to €21,578
- Other operating charges -€4,516
down €4,516 (-46.7%), from €9,665 to €5,149
- Financial charges -€817
down €817 (-12.0%), from €6,826 to €6,009
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 | €247,721 | €220,120 | -€27,602 | -11.1% |
| Fixed assets | 21/28 | €231,626 | €217,725 | -€13,901 | -6.0% |
| Tangible fixed assets | 22/27 | €231,626 | €217,725 | -€13,901 | -6.0% |
| Land and buildings | 22 | €231,626 | €217,725 | -€13,901 | -6.0% |
| Current assets | 29/58 | €16,095 | €2,395 | -€13,701 | -85.1% |
| Cash at bank and in hand | 54/58 | €16,095 | €2,395 | -€13,701 | -85.1% |
| Total equity and liabilities | 10/49 | €247,721 | €220,120 | -€27,602 | -11.1% |
| Equity | 10/15 | €18,967 | €15,486 | -€3,481 | -18.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,033 | -€6,514 | -€3,481 | -114.8% |
| Amounts payable | 17/49 | €228,754 | €204,633 | -€24,121 | -10.5% |
| Amounts payable after more than one year | 17 | €170,251 | €144,686 | -€25,565 | -15.0% |
| Financial debts | 170/4 | €170,251 | €144,686 | -€25,565 | -15.0% |
| Amounts payable within one year | 42/48 | €58,504 | €59,947 | +€1,444 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €25,565 | €25,565 | = | 0.0% |
| Trade debts | 44 | €4,870 | €6,313 | +€1,444 | +29.6% |
| Suppliers | 440/4 | €4,870 | €6,313 | +€1,444 | +29.6% |
| Other amounts payable | 47/48 | €28,069 | €28,069 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,901 | €13,901 | = | 0.0% |
| Other operating charges | 640/8 | €9,665 | €5,149 | -€4,516 | -46.7% |
| Gross operating margin | 9900 | €38,485 | €21,578 | -€16,907 | -43.9% |
| Operating profit (loss) | 9901 | €14,919 | €2,528 | -€12,390 | -83.1% |
| Financial charges | 65/66B | €6,826 | €6,009 | -€817 | -12.0% |
| Recurring financial charges | 65 | €6,826 | €6,009 | -€817 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €8,093 | -€3,481 | -€11,573 | |
| Profit (loss) for the period | 9904 | €8,093 | -€3,481 | -€11,573 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,093 | -€3,481 | -€11,573 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.