MANELE: 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.
MANELE
Largest movements
- Tangible fixed assets -€14,897
down €14,897 (-4.1%), from €366,815 to €351,917
of which Land and buildings: -€14,093
- Cash +€8,978
up €8,978 (+303.5%), from €2,958 to €11,936
mainly Depreciation (+€14,897) and Net result for the year (+€13,347)
- Debts after one year -€20,652
down €20,652 (-10.2%), from €202,247 to €181,595
- Reserves +€13,347
up €13,347 (+18.0%), from €74,023 to €87,370
- Gross operating margin +€1,805
up €1,805 (+4.5%), from €40,177 to €41,982
- Other operating charges +€910
up €910 (+44.9%), from €2,027 to €2,937
- Financial charges -€577
down €577 (-11.2%), from €5,149 to €4,572
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 | €369,773 | €363,854 | -€5,919 | -1.6% |
| Fixed assets | 21/28 | €366,815 | €351,917 | -€14,897 | -4.1% |
| Tangible fixed assets | 22/27 | €366,815 | €351,917 | -€14,897 | -4.1% |
| Land and buildings | 22 | €364,909 | €350,816 | -€14,093 | -3.9% |
| Plant, machinery and equipment | 23 | €1,905 | €1,101 | -€804 | -42.2% |
| Current assets | 29/58 | €2,958 | €11,936 | +€8,978 | +303.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,958 | €11,936 | +€8,978 | +303.5% |
| Total equity and liabilities | 10/49 | €369,773 | €363,854 | -€5,919 | -1.6% |
| Equity | 10/15 | €99,023 | €112,370 | +€13,347 | +13.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €74,023 | €87,370 | +€13,347 | +18.0% |
| Distributable reserves | 133 | €74,023 | €87,370 | +€13,347 | +18.0% |
| Amounts payable | 17/49 | €270,750 | €251,484 | -€19,266 | -7.1% |
| Amounts payable after more than one year | 17 | €202,247 | €181,595 | -€20,652 | -10.2% |
| Financial debts | 170/4 | €202,247 | €181,595 | -€20,652 | -10.2% |
| Amounts payable within one year | 42/48 | €68,503 | €69,889 | +€1,387 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €20,228 | €20,652 | +€424 | +2.1% |
| Trade debts | 44 | €828 | €864 | +€36 | +4.4% |
| Suppliers | 440/4 | €828 | €864 | +€36 | +4.4% |
| Taxes, remuneration and social security | 45 | €2,803 | €2,529 | -€274 | -9.8% |
| Taxes | 450/3 | €2,803 | €2,529 | -€274 | -9.8% |
| Other amounts payable | 47/48 | €44,644 | €45,844 | +€1,200 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,897 | €14,897 | = | 0.0% |
| Other operating charges | 640/8 | €2,027 | €2,937 | +€910 | +44.9% |
| Gross operating margin | 9900 | €40,177 | €41,982 | +€1,805 | +4.5% |
| Operating profit (loss) | 9901 | €23,253 | €24,148 | +€895 | +3.8% |
| Financial charges | 65/66B | €5,149 | €4,572 | -€577 | -11.2% |
| Recurring financial charges | 65 | €5,149 | €4,572 | -€577 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €18,104 | €19,576 | +€1,471 | +8.1% |
| Income taxes | 67/77 | €5,834 | €6,229 | +€394 | +6.8% |
| Profit (loss) for the period | 9904 | €12,270 | €13,347 | +€1,077 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,270 | €13,347 | +€1,077 | +8.8% |
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 3 October 2026 via checked.be.