Mandourelle: 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.
Mandourelle
Largest movements
- Stocks and contracts -€20,346
down €20,346 (-70.8%), from €28,752 to €8,406
- Cash -€3,158
down €3,158 (-93.9%), from €3,361 to €203
mainly Net result for the year (-€20,629) and Receivables within one year (-€2,685)
- Receivables within one year +€2,685
up €2,685 (+5.2%), from €51,744 to €54,429
of which Other amounts receivable: +€3,305
- Tangible fixed assets -€1,343
down €1,343 (-70.4%), from €1,909 to €565
- Profit (loss) carried forward -€20,629
down €20,629 (-50.3%), from -€40,994 to -€61,623
- Trade debts -€2,462
down €2,462 (-98.3%), from €2,506 to €44
- Write-downs +€18,552
new in 2025: €18,552
- Gross operating margin +€10,944
up €10,944 (+97.0%), from -€11,277 to -€334
- Financial charges -€300
no longer reported in 2025 (was €300)
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 | €85,766 | €63,604 | -€22,162 | -25.8% |
| Fixed assets | 21/28 | €1,909 | €565 | -€1,343 | -70.4% |
| Tangible fixed assets | 22/27 | €1,909 | €565 | -€1,343 | -70.4% |
| Furniture and vehicles | 24 | €1,909 | €565 | -€1,343 | -70.4% |
| Current assets | 29/58 | €83,858 | €63,039 | -€20,819 | -24.8% |
| Stocks and contracts in progress | 3 | €28,752 | €8,406 | -€20,346 | -70.8% |
| Stocks | 30/36 | €28,752 | €8,406 | -€20,346 | -70.8% |
| Amounts receivable within one year | 40/41 | €51,744 | €54,429 | +€2,685 | +5.2% |
| Trade receivables | 40 | €7,446 | €6,826 | -€620 | -8.3% |
| Other amounts receivable | 41 | €44,298 | €47,603 | +€3,305 | +7.5% |
| Cash at bank and in hand | 54/58 | €3,361 | €203 | -€3,158 | -93.9% |
| Total equity and liabilities | 10/49 | €85,766 | €63,604 | -€22,162 | -25.8% |
| Equity | 10/15 | -€35,994 | -€56,623 | -€20,629 | -57.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,994 | -€61,623 | -€20,629 | -50.3% |
| Amounts payable | 17/49 | €121,761 | €120,227 | -€1,533 | -1.3% |
| Amounts payable within one year | 42/48 | €121,761 | €120,227 | -€1,533 | -1.3% |
| Trade debts | 44 | €2,506 | €44 | -€2,462 | -98.3% |
| Suppliers | 440/4 | €2,506 | €44 | -€2,462 | -98.3% |
| Taxes, remuneration and social security | 45 | - | €296 | +€296 | |
| Taxes | 450/3 | - | €296 | +€296 | |
| Other amounts payable | 47/48 | €119,255 | €119,888 | +€633 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,343 | €1,343 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,552 | +€18,552 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€11,277 | -€334 | +€10,944 | +97.0% |
| Operating profit (loss) | 9901 | -€13,008 | -€20,629 | -€7,621 | -58.6% |
| Financial charges | 65/66B | €300 | - | -€300 | |
| Recurring financial charges | 65 | €300 | - | -€300 | |
| Profit (loss) for the period before taxes | 9903 | -€13,308 | -€20,629 | -€7,321 | -55.0% |
| Profit (loss) for the period | 9904 | -€13,308 | -€20,629 | -€7,321 | -55.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,308 | -€20,629 | -€7,321 | -55.0% |
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 2 October 2026 via checked.be.