MANEBO: 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.
MANEBO
Largest movements
- Receivables within one year +€532,519
up €532,519 (+52.5%), from €1.0m to €1.5m
of which Trade receivables: +€336,517
- Tangible fixed assets +€148,181
up €148,181 (+19.4%), from €765,773 to €913,954
of which Plant, machinery and equipment: +€213,643
- Cash +€53,703
up €53,703 (+21.6%), from €248,200 to €301,903
mainly Trade debts (+€770,465) and Depreciation (+€181,358)
- Deferred charges and accrued income +€39,930
up €39,930 (+198%), from €20,191 to €60,121
- Trade debts +€770,465
up €770,465 (+100%), from €768,805 to €1.5m
- Short-term financial debts -€170,464
down €170,464 (-55.4%), from €307,830 to €137,366
- Reserves +€124,510
up €124,510 (+16.2%), from €768,776 to €893,286
of which Distributable reserves: +€124,510
- Tax, wage and social debts +€94,165
up €94,165 (+229%), from €41,170 to €135,335
of which Remuneration and social security: +€56,269
- Debts after one year -€75,059
down €75,059 (-12.4%), from €603,537 to €528,478
- Gross operating margin +€591,824
up €591,824 (+77.0%), from €768,131 to €1.4m
- Staff costs +€460,615
up €460,615 (+98.8%), from €466,330 to €926,945
- Depreciation +€52,754
up €52,754 (+41.0%), from €128,604 to €181,358
- Taxes +€38,749
up €38,749 (+144%), from €26,870 to €65,619
- Financial income +€17,439
up €17,439 (+574%), from €3,039 to €20,478
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 | €2,686,593 | €3,439,812 | +€753,219 | +28.0% |
| Fixed assets | 21/28 | €771,973 | €930,809 | +€158,836 | +20.6% |
| Tangible fixed assets | 22/27 | €765,773 | €913,954 | +€148,181 | +19.4% |
| Plant, machinery and equipment | 23 | €346,049 | €559,692 | +€213,643 | +61.7% |
| Furniture and vehicles | 24 | €81,953 | €75,109 | -€6,844 | -8.4% |
| Leasing and similar rights | 25 | €337,770 | €279,153 | -€58,618 | -17.4% |
| Financial fixed assets | 28 | €6,200 | €16,855 | +€10,655 | +172% |
| Current assets | 29/58 | €1,914,620 | €2,509,003 | +€594,383 | +31.0% |
| Amounts receivable after more than one year | 29 | €316,121 | €307,472 | -€8,649 | -2.7% |
| Other amounts receivable | 291 | €316,121 | €307,472 | -€8,649 | -2.7% |
| Stocks and contracts in progress | 3 | €316,000 | €293,000 | -€23,000 | -7.3% |
| Stocks | 30/36 | €61,000 | €83,000 | +€22,000 | +36.1% |
| Contracts in progress | 37 | €255,000 | €210,000 | -€45,000 | -17.6% |
| Amounts receivable within one year | 40/41 | €1,013,988 | €1,546,507 | +€532,519 | +52.5% |
| Trade receivables | 40 | €944,433 | €1,280,950 | +€336,517 | +35.6% |
| Other amounts receivable | 41 | €69,555 | €265,557 | +€196,002 | +282% |
| Current investments | 50/53 | €120 | - | -€120 | |
| Cash at bank and in hand | 54/58 | €248,200 | €301,903 | +€53,703 | +21.6% |
| Deferred charges and accrued income | 490/1 | €20,191 | €60,121 | +€39,930 | +198% |
| Total equity and liabilities | 10/49 | €2,686,593 | €3,439,812 | +€753,219 | +28.0% |
| Equity | 10/15 | €788,776 | €913,286 | +€124,510 | +15.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €768,776 | €893,286 | +€124,510 | +16.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €768,776 | €893,286 | +€124,510 | +16.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,897,817 | €2,526,526 | +€628,709 | +33.1% |
| Amounts payable after more than one year | 17 | €603,537 | €528,478 | -€75,059 | -12.4% |
| Financial debts | 170/4 | €603,537 | €528,478 | -€75,059 | -12.4% |
| Amounts payable within one year | 42/48 | €1,294,280 | €1,998,048 | +€703,768 | +54.4% |
| Current portion of amounts payable after more than one year | 42 | €152,963 | €185,235 | +€32,272 | +21.1% |
| Financial debts | 43 | €307,830 | €137,366 | -€170,464 | -55.4% |
| Credit institutions | 430/8 | €307,830 | €137,366 | -€170,464 | -55.4% |
| Trade debts | 44 | €768,805 | €1,539,270 | +€770,465 | +100% |
| Suppliers | 440/4 | €768,805 | €1,539,270 | +€770,465 | +100% |
| Taxes, remuneration and social security | 45 | €41,170 | €135,335 | +€94,165 | +229% |
| Taxes | 450/3 | €28,111 | €66,007 | +€37,896 | +135% |
| Remuneration and social security | 454/9 | €13,059 | €69,328 | +€56,269 | +431% |
| Other amounts payable | 47/48 | €23,512 | €842 | -€22,669 | -96.4% |
| Non-recurring operating income | 76A | €15,702 | €5,759 | -€9,943 | -63.3% |
| Remuneration, social security and pensions | 62 | €466,330 | €926,945 | +€460,615 | +98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,604 | €181,358 | +€52,754 | +41.0% |
| Other operating charges | 640/8 | €18,534 | €11,863 | -€6,671 | -36.0% |
| Gross operating margin | 9900 | €768,131 | €1,359,955 | +€591,824 | +77.0% |
| Operating profit (loss) | 9901 | €154,663 | €239,788 | +€85,126 | +55.0% |
| Financial income | 75/76B | €3,039 | €20,478 | +€17,439 | +574% |
| Recurring financial income | 75 | €3,039 | €20,478 | +€17,439 | +574% |
| Financial charges | 65/66B | €72,436 | €70,138 | -€2,299 | -3.2% |
| Recurring financial charges | 65 | €72,436 | €70,138 | -€2,299 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €85,266 | €190,129 | +€104,863 | +123% |
| Income taxes | 67/77 | €26,870 | €65,619 | +€38,749 | +144% |
| Profit (loss) for the period | 9904 | €58,395 | €124,510 | +€66,114 | +113% |
| Profit (loss) for the period to be appropriated | 9905 | €58,395 | €124,510 | +€66,114 | +113% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.