MANESCHIJNHOF: 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.
MANESCHIJNHOF
Largest movements
- Stocks and contracts -€18,977
down €18,977 (-70.1%), from €27,080 to €8,103
- Receivables within one year +€9,299
up €9,299 (+141%), from €6,588 to €15,887
of which Trade receivables: +€10,009
- Tangible fixed assets +€9,095
up €9,095 (+6.9%), from €131,194 to €140,289
of which Plant, machinery and equipment: +€15,611
- Cash -€8,756
down €8,756 (-87.6%), from €9,990 to €1,234
mainly Investment in fixed assets (net) (-€36,629) and Net result for the year (-€31,353)
- Profit (loss) carried forward -€31,353
down €31,353 (-264%), from -€11,855 to -€43,208
- Debts after one year +€11,264
up €11,264 (+6.4%), from €175,001 to €186,264
- Trade debts +€10,750
up €10,750 (+131%), from €8,230 to €18,980
- Gross operating margin -€12,449
down €12,449, from €8,830 to -€3,620
- Depreciation +€7,399
up €7,399 (+36.7%), from €20,134 to €27,534
- Other operating charges -€309
down €309 (-70.7%), from €437 to €128
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 | €181,376 | €172,037 | -€9,339 | -5.1% |
| Fixed assets | 21/28 | €137,194 | €146,289 | +€9,095 | +6.6% |
| Tangible fixed assets | 22/27 | €131,194 | €140,289 | +€9,095 | +6.9% |
| Plant, machinery and equipment | 23 | €84,172 | €99,783 | +€15,611 | +18.5% |
| Furniture and vehicles | 24 | €40,157 | €33,991 | -€6,166 | -15.4% |
| Other tangible fixed assets | 26 | €6,865 | €6,515 | -€350 | -5.1% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €44,182 | €25,748 | -€18,434 | -41.7% |
| Stocks and contracts in progress | 3 | €27,080 | €8,103 | -€18,977 | -70.1% |
| Stocks | 30/36 | €27,080 | €8,103 | -€18,977 | -70.1% |
| Amounts receivable within one year | 40/41 | €6,588 | €15,887 | +€9,299 | +141% |
| Trade receivables | 40 | €5,351 | €15,360 | +€10,009 | +187% |
| Other amounts receivable | 41 | €1,237 | €527 | -€709 | -57.4% |
| Cash at bank and in hand | 54/58 | €9,990 | €1,234 | -€8,756 | -87.6% |
| Deferred charges and accrued income | 490/1 | €523 | €523 | = | 0.0% |
| Total equity and liabilities | 10/49 | €181,376 | €172,037 | -€9,339 | -5.1% |
| Equity | 10/15 | -€1,855 | -€33,208 | -€31,353 | -1,691% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,855 | -€43,208 | -€31,353 | -264% |
| Amounts payable | 17/49 | €183,231 | €205,245 | +€22,014 | +12.0% |
| Amounts payable after more than one year | 17 | €175,001 | €186,264 | +€11,264 | +6.4% |
| Other amounts payable | 178/9 | €175,001 | €186,264 | +€11,264 | +6.4% |
| Amounts payable within one year | 42/48 | €8,230 | €18,980 | +€10,750 | +131% |
| Trade debts | 44 | €8,230 | €18,980 | +€10,750 | +131% |
| Suppliers | 440/4 | €8,230 | €18,980 | +€10,750 | +131% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,134 | €27,534 | +€7,399 | +36.7% |
| Other operating charges | 640/8 | €437 | €128 | -€309 | -70.7% |
| Gross operating margin | 9900 | €8,830 | -€3,620 | -€12,449 | |
| Operating profit (loss) | 9901 | -€11,742 | -€31,281 | -€19,539 | -166% |
| Financial charges | 65/66B | €113 | €72 | -€41 | -36.2% |
| Recurring financial charges | 65 | €113 | €72 | -€41 | -36.2% |
| Profit (loss) for the period before taxes | 9903 | -€11,855 | -€31,353 | -€19,499 | -164% |
| Profit (loss) for the period | 9904 | -€11,855 | -€31,353 | -€19,499 | -164% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,855 | -€31,353 | -€19,499 | -164% |
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 16 October 2026 via checked.be.