Mandus Dierickx: 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.
Mandus Dierickx
Largest movements
- Current investments +€13,956
up €13,956 (+200%), from €6,978 to €20,933
- Cash +€11,106
up €11,106 (+29.7%), from €37,439 to €48,545
mainly Net result for the year (+€18,381) and Tax, wage and social debts (+€7,175)
- Receivables within one year +€7,436
up €7,436 (+11.7%), from €63,656 to €71,092
of which Other amounts receivable: +€8,388
- Deferred charges and accrued income -€1,802
down €1,802 (-55.1%), from €3,269 to €1,467
- Tangible fixed assets -€1,785
down €1,785 (-6.6%), from €27,188 to €25,403
of which Furniture and vehicles: -€3,379
- Reserves +€137,585
new in 2025: €137,585
- Profit (loss) carried forward -€119,205
no longer reported in 2025 (was €119,205)
- Tax, wage and social debts +€7,175
up €7,175 (+49.0%), from €14,643 to €21,818
of which Taxes: +€5,425
- Trade debts +€3,355
up €3,355 (+296%), from €1,132 to €4,488
- Gross operating margin -€27,401
down €27,401 (-45.0%), from €60,826 to €33,425
- Taxes -€6,198
down €6,198 (-54.0%), from €11,477 to €5,279
- Depreciation +€1,789
up €1,789 (+34.4%), from €5,195 to €6,984
- Financial charges +€1,712
up €1,712 (+4,312%), from €40 to €1,752
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 | €140,979 | €169,890 | +€28,911 | +20.5% |
| Fixed assets | 21/28 | €29,638 | €27,853 | -€1,785 | -6.0% |
| Tangible fixed assets | 22/27 | €27,188 | €25,403 | -€1,785 | -6.6% |
| Plant, machinery and equipment | 23 | €2,114 | €3,708 | +€1,594 | +75.4% |
| Furniture and vehicles | 24 | €25,074 | €21,695 | -€3,379 | -13.5% |
| Financial fixed assets | 28 | €2,450 | €2,450 | = | 0.0% |
| Current assets | 29/58 | €111,341 | €142,037 | +€30,696 | +27.6% |
| Amounts receivable within one year | 40/41 | €63,656 | €71,092 | +€7,436 | +11.7% |
| Trade receivables | 40 | €13,610 | €12,658 | -€952 | -7.0% |
| Other amounts receivable | 41 | €50,046 | €58,434 | +€8,388 | +16.8% |
| Current investments | 50/53 | €6,978 | €20,933 | +€13,956 | +200% |
| Cash at bank and in hand | 54/58 | €37,439 | €48,545 | +€11,106 | +29.7% |
| Deferred charges and accrued income | 490/1 | €3,269 | €1,467 | -€1,802 | -55.1% |
| Total equity and liabilities | 10/49 | €140,979 | €169,890 | +€28,911 | +20.5% |
| Equity | 10/15 | €125,205 | €143,585 | +€18,381 | +14.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | - | €137,585 | +€137,585 | |
| Distributable reserves | 133 | - | €137,585 | +€137,585 | |
| Profit (loss) carried forward | 14 | €119,205 | - | -€119,205 | |
| Amounts payable | 17/49 | €15,775 | €26,305 | +€10,530 | +66.8% |
| Amounts payable within one year | 42/48 | €15,775 | €26,305 | +€10,530 | +66.8% |
| Trade debts | 44 | €1,132 | €4,488 | +€3,355 | +296% |
| Suppliers | 440/4 | €1,132 | €4,488 | +€3,355 | +296% |
| Taxes, remuneration and social security | 45 | €14,643 | €21,818 | +€7,175 | +49.0% |
| Taxes | 450/3 | €14,643 | €20,068 | +€5,425 | +37.0% |
| Remuneration and social security | 454/9 | - | €1,750 | +€1,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,195 | €6,984 | +€1,789 | +34.4% |
| Other operating charges | 640/8 | €888 | €1,029 | +€141 | +15.9% |
| Gross operating margin | 9900 | €60,826 | €33,425 | -€27,401 | -45.0% |
| Operating profit (loss) | 9901 | €54,743 | €25,411 | -€29,332 | -53.6% |
| Financial charges | 65/66B | €40 | €1,752 | +€1,712 | +4,312% |
| Recurring financial charges | 65 | €40 | €1,752 | +€1,712 | +4,312% |
| Profit (loss) for the period before taxes | 9903 | €54,703 | €23,659 | -€31,044 | -56.8% |
| Income taxes | 67/77 | €11,477 | €5,279 | -€6,198 | -54.0% |
| Profit (loss) for the period | 9904 | €43,226 | €18,381 | -€24,846 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,226 | €18,381 | -€24,846 | -57.5% |
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 19 October 2026 via checked.be.