MANDOLINE: 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.
MANDOLINE
Largest movements
- Receivables within one year +€480,144
up €480,144 (+33.1%), from €1.5m to €1.9m
of which Other amounts receivable: +€480,000
- Tangible fixed assets -€73,806
down €73,806 (-2.6%), from €2.9m to €2.8m
of which Land and buildings: -€61,901
- Cash -€54,996
down €54,996 (-91.0%), from €60,424 to €5,428
mainly Contributions, distributions and other (-€2.1m) and Receivables within one year (-€480,144)
- Other debts +€2.1m
new in 2025: €2.1m
- Profit (loss) carried forward -€1.7m
down €1.7m (-100.0%), from €1.7m to €229
- Accrued charges and deferred income -€52,296
no longer reported in 2025 (was €52,296)
- Gross operating margin +€76,093
up €76,093 (+14.2%), from €535,012 to €611,105
- Depreciation -€43,949
down €43,949 (-37.3%), from €117,755 to €73,806
- Taxes +€31,337
up €31,337 (+28.6%), from €109,409 to €140,746
- Financial income +€6,427
up €6,427 (+10.3%), from €62,425 to €68,852
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 | €4,431,998 | €4,789,768 | +€357,770 | +8.1% |
| Fixed assets | 21/28 | €2,859,149 | €2,785,343 | -€73,806 | -2.6% |
| Tangible fixed assets | 22/27 | €2,859,149 | €2,785,343 | -€73,806 | -2.6% |
| Land and buildings | 22 | €2,780,287 | €2,718,386 | -€61,901 | -2.2% |
| Furniture and vehicles | 24 | €545 | €346 | -€199 | -36.5% |
| Other tangible fixed assets | 26 | €78,317 | €66,611 | -€11,705 | -14.9% |
| Current assets | 29/58 | €1,572,849 | €2,004,425 | +€431,575 | +27.4% |
| Amounts receivable within one year | 40/41 | €1,450,000 | €1,930,144 | +€480,144 | +33.1% |
| Trade receivables | 40 | - | €144 | +€144 | |
| Other amounts receivable | 41 | €1,450,000 | €1,930,000 | +€480,000 | +33.1% |
| Cash at bank and in hand | 54/58 | €60,424 | €5,428 | -€54,996 | -91.0% |
| Deferred charges and accrued income | 490/1 | €62,425 | €68,852 | +€6,427 | +10.3% |
| Total equity and liabilities | 10/49 | €4,431,998 | €4,789,768 | +€357,770 | +8.1% |
| Equity | 10/15 | €4,344,477 | €2,689,820 | -€1.7m | -38.1% |
| Contributions | 10/11 | €2,200,000 | €2,200,000 | = | 0.0% |
| Capital | 10 | €2,200,000 | €2,200,000 | = | 0.0% |
| Issued capital | 100 | €2,200,000 | €2,200,000 | = | 0.0% |
| Revaluation surpluses | 12 | €11,339 | €11,339 | = | 0.0% |
| Reserves | 13 | €478,252 | €478,252 | = | 0.0% |
| Non-distributable reserves | 130/1 | €220,000 | €220,000 | = | 0.0% |
| Legal reserve | 130 | €220,000 | €220,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,252 | €10,252 | = | 0.0% |
| Distributable reserves | 133 | €248,000 | €248,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,654,885 | €229 | -€1.7m | -100.0% |
| Amounts payable | 17/49 | €87,521 | €2,099,948 | +€2.0m | +2299.4% |
| Amounts payable within one year | 42/48 | €35,225 | €2,099,948 | +€2.1m | +5861.5% |
| Trade debts | 44 | €4,699 | €9,682 | +€4,983 | +106.1% |
| Suppliers | 440/4 | €4,699 | €9,682 | +€4,983 | +106.1% |
| Taxes, remuneration and social security | 45 | €30,526 | €14,876 | -€15,650 | -51.3% |
| Taxes | 450/3 | €30,526 | €14,876 | -€15,650 | -51.3% |
| Other amounts payable | 47/48 | - | €2,075,390 | +€2.1m | |
| Accrued charges and deferred income | 492/3 | €52,296 | - | -€52,296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,755 | €73,806 | -€43,949 | -37.3% |
| Other operating charges | 640/8 | €42,764 | €44,099 | +€1,335 | +3.1% |
| Gross operating margin | 9900 | €535,012 | €611,105 | +€76,093 | +14.2% |
| Operating profit (loss) | 9901 | €374,493 | €493,200 | +€118,707 | +31.7% |
| Financial income | 75/76B | €62,425 | €68,852 | +€6,427 | +10.3% |
| Recurring financial income | 75 | €62,425 | €68,852 | +€6,427 | +10.3% |
| Financial charges | 65/66B | €1,488 | €573 | -€915 | -61.5% |
| Recurring financial charges | 65 | €1,488 | €573 | -€915 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | €435,430 | €561,480 | +€126,050 | +28.9% |
| Income taxes | 67/77 | €109,409 | €140,746 | +€31,337 | +28.6% |
| Profit (loss) for the period | 9904 | €326,021 | €420,733 | +€94,712 | +29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €326,021 | €420,733 | +€94,712 | +29.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.