MANE 2: 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.
MANE 2
Largest movements
- Receivables within one year +€63,976
up €63,976 (+675%), from €9,483 to €73,459
of which Trade receivables: +€64,173
- Cash -€14,800
down €14,800 (-75.5%), from €19,601 to €4,801
mainly Receivables within one year (-€63,976) and Other debts (-€7,539)
- Tangible fixed assets -€7,066
down €7,066 (-17.0%), from €41,617 to €34,551
of which Furniture and vehicles: -€4,278
- Intangible fixed assets -€2,770
down €2,770 (-26.8%), from €10,330 to €7,560
- Trade debts +€57,576
up €57,576 (+181%), from €31,747 to €89,322
- Other debts -€7,539
down €7,539 (-76.0%), from €9,920 to €2,381
- Current portion of long-term debt -€5,657
down €5,657 (-66.9%), from €8,452 to €2,795
- Profit (loss) carried forward -€4,428
down €4,428 (-27.3%), from €16,198 to €11,770
- Gross operating margin -€5,406
down €5,406 (-28.5%), from €18,973 to €13,567
- Financial charges -€1,619
down €1,619 (-72.9%), from €2,222 to €603
- Other operating charges +€1,372
up €1,372 (+155%), from €887 to €2,259
- Taxes -€196
down €196 (-73.7%), from €266 to €70
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 | €87,421 | €126,488 | +€39,067 | +44.7% |
| Fixed assets | 21/28 | €54,487 | €44,651 | -€9,836 | -18.1% |
| Intangible fixed assets | 21 | €10,330 | €7,560 | -€2,770 | -26.8% |
| Tangible fixed assets | 22/27 | €41,617 | €34,551 | -€7,066 | -17.0% |
| Plant, machinery and equipment | 23 | €1,317 | - | -€1,317 | |
| Furniture and vehicles | 24 | €38,701 | €34,422 | -€4,278 | -11.1% |
| Other tangible fixed assets | 26 | €1,599 | €129 | -€1,470 | -92.0% |
| Financial fixed assets | 28 | €2,540 | €2,540 | = | 0.0% |
| Current assets | 29/58 | €32,934 | €81,837 | +€48,903 | +148% |
| Stocks and contracts in progress | 3 | €3,323 | €3,050 | -€273 | -8.2% |
| Stocks | 30/36 | €3,323 | €3,050 | -€273 | -8.2% |
| Amounts receivable within one year | 40/41 | €9,483 | €73,459 | +€63,976 | +675% |
| Trade receivables | 40 | €9,286 | €73,459 | +€64,173 | +691% |
| Other amounts receivable | 41 | €197 | - | -€197 | |
| Cash at bank and in hand | 54/58 | €19,601 | €4,801 | -€14,800 | -75.5% |
| Deferred charges and accrued income | 490/1 | €527 | €527 | = | 0.0% |
| Total equity and liabilities | 10/49 | €87,421 | €126,488 | +€39,067 | +44.7% |
| Equity | 10/15 | €22,398 | €17,970 | -€4,428 | -19.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,198 | €11,770 | -€4,428 | -27.3% |
| Amounts payable | 17/49 | €65,023 | €108,518 | +€43,495 | +66.9% |
| Amounts payable after more than one year | 17 | €12,617 | €12,617 | = | 0.0% |
| Trade debts | 175 | €12,617 | €12,617 | = | 0.0% |
| Amounts payable within one year | 42/48 | €52,405 | €95,901 | +€43,495 | +83.0% |
| Current portion of amounts payable after more than one year | 42 | €8,452 | €2,795 | -€5,657 | -66.9% |
| Trade debts | 44 | €31,747 | €89,322 | +€57,576 | +181% |
| Suppliers | 440/4 | €31,747 | €89,322 | +€57,576 | +181% |
| Taxes, remuneration and social security | 45 | €2,286 | €1,402 | -€885 | -38.7% |
| Taxes | 450/3 | €2,286 | €1,402 | -€885 | -38.7% |
| Other amounts payable | 47/48 | €9,920 | €2,381 | -€7,539 | -76.0% |
| Remuneration, social security and pensions | 62 | €182 | - | -€182 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,999 | €15,064 | +€65 | +0.4% |
| Other operating charges | 640/8 | €887 | €2,259 | +€1,372 | +155% |
| Gross operating margin | 9900 | €18,973 | €13,567 | -€5,406 | -28.5% |
| Operating profit (loss) | 9901 | €2,906 | -€3,755 | -€6,660 | |
| Financial charges | 65/66B | €2,222 | €603 | -€1,619 | -72.9% |
| Recurring financial charges | 65 | €2,222 | €603 | -€1,619 | -72.9% |
| Profit (loss) for the period before taxes | 9903 | €683 | -€4,358 | -€5,041 | |
| Income taxes | 67/77 | €266 | €70 | -€196 | -73.7% |
| Profit (loss) for the period | 9904 | €417 | -€4,428 | -€4,845 | |
| Profit (loss) for the period to be appropriated | 9905 | €417 | -€4,428 | -€4,845 |
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 17 October 2026 via checked.be.