MANELISCHARL: 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.
MANELISCHARL
Largest movements
- Tangible fixed assets +€15,756
up €15,756 (+18.8%), from €83,802 to €99,558
of which Furniture and vehicles: +€31,005
- Stocks and contracts +€14,444
up €14,444 (+45.7%), from €31,580 to €46,024
- Receivables within one year -€8,113
down €8,113 (-95.3%), from €8,515 to €402
of which Trade receivables: -€8,113
- Cash +€2,774
up €2,774 (+5.9%), from €47,380 to €50,154
mainly Depreciation (+€19,852) and Net result for the year (+€15,892)
- Deferred charges and accrued income +€2,012
up €2,012 (+158%), from €1,272 to €3,284
- Profit (loss) carried forward +€15,892
up €15,892 (+92.8%), from -€17,129 to -€1,237
- Debts after one year +€9,914
up €9,914 (+27.1%), from €36,542 to €46,456
- Current portion of long-term debt +€8,226
up €8,226 (+53.4%), from €15,392 to €23,618
- Other debts -€4,383
down €4,383 (-8.6%), from €51,213 to €46,830
- Tax, wage and social debts -€2,023
down €2,023 (-16.5%), from €12,272 to €10,249
of which Taxes: -€1,930
- Gross operating margin +€10,618
up €10,618 (+22.9%), from €46,441 to €57,059
- Staff costs -€4,930
down €4,930 (-22.9%), from €21,573 to €16,643
- Depreciation +€4,356
up €4,356 (+28.1%), from €15,496 to €19,852
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 | €172,724 | €199,597 | +€26,873 | +15.6% |
| Fixed assets | 21/28 | €83,977 | €99,733 | +€15,756 | +18.8% |
| Tangible fixed assets | 22/27 | €83,802 | €99,558 | +€15,756 | +18.8% |
| Land and buildings | 22 | €21,254 | €19,227 | -€2,027 | -9.5% |
| Plant, machinery and equipment | 23 | €13,594 | €8,773 | -€4,821 | -35.5% |
| Furniture and vehicles | 24 | - | €31,005 | +€31,005 | |
| Leasing and similar rights | 25 | €48,954 | €40,553 | -€8,401 | -17.2% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €88,747 | €99,864 | +€11,117 | +12.5% |
| Stocks and contracts in progress | 3 | €31,580 | €46,024 | +€14,444 | +45.7% |
| Stocks | 30/36 | €31,580 | €46,024 | +€14,444 | +45.7% |
| Amounts receivable within one year | 40/41 | €8,515 | €402 | -€8,113 | -95.3% |
| Trade receivables | 40 | €8,321 | €208 | -€8,113 | -97.5% |
| Other amounts receivable | 41 | €194 | €194 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,380 | €50,154 | +€2,774 | +5.9% |
| Deferred charges and accrued income | 490/1 | €1,272 | €3,284 | +€2,012 | +158% |
| Total equity and liabilities | 10/49 | €172,724 | €199,597 | +€26,873 | +15.6% |
| Equity | 10/15 | €55,571 | €71,463 | +€15,892 | +28.6% |
| Contributions | 10/11 | €72,700 | €72,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,129 | -€1,237 | +€15,892 | +92.8% |
| Amounts payable | 17/49 | €117,153 | €128,134 | +€10,981 | +9.4% |
| Amounts payable after more than one year | 17 | €36,542 | €46,456 | +€9,914 | +27.1% |
| Financial debts | 170/4 | €36,542 | €46,456 | +€9,914 | +27.1% |
| Amounts payable within one year | 42/48 | €80,609 | €81,639 | +€1,030 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €15,392 | €23,618 | +€8,226 | +53.4% |
| Trade debts | 44 | €1,732 | €942 | -€790 | -45.6% |
| Suppliers | 440/4 | €1,732 | €942 | -€790 | -45.6% |
| Taxes, remuneration and social security | 45 | €12,272 | €10,249 | -€2,023 | -16.5% |
| Taxes | 450/3 | €6,811 | €4,881 | -€1,930 | -28.3% |
| Remuneration and social security | 454/9 | €5,461 | €5,368 | -€93 | -1.7% |
| Other amounts payable | 47/48 | €51,213 | €46,830 | -€4,383 | -8.6% |
| Accrued charges and deferred income | 492/3 | €2 | €39 | +€37 | +1,850% |
| Remuneration, social security and pensions | 62 | €21,573 | €16,643 | -€4,930 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,496 | €19,852 | +€4,356 | +28.1% |
| Other operating charges | 640/8 | €1,303 | €965 | -€338 | -25.9% |
| Gross operating margin | 9900 | €46,441 | €57,059 | +€10,618 | +22.9% |
| Operating profit (loss) | 9901 | €8,069 | €19,599 | +€11,530 | +143% |
| Financial income | 75/76B | €163 | €98 | -€65 | -39.9% |
| Recurring financial income | 75 | €163 | €98 | -€65 | -39.9% |
| Financial charges | 65/66B | €3,841 | €3,586 | -€255 | -6.6% |
| Recurring financial charges | 65 | €3,841 | €3,586 | -€255 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €4,391 | €16,111 | +€11,720 | +267% |
| Income taxes | 67/77 | €186 | €219 | +€33 | +17.7% |
| Profit (loss) for the period | 9904 | €4,205 | €15,892 | +€11,687 | +278% |
| Profit (loss) for the period to be appropriated | 9905 | €4,205 | €15,892 | +€11,687 | +278% |
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 25 October 2026 via checked.be.