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MANET.BE: 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.

What changed

MANET.BE

BE 0875.055.608
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4.2m
2024 · €4.3m-€88,057
Equity
€197.9m
2024 · €193.7m+€4.1m
Cash
€492,944
2024 · €593,253-€100,309
Balance sheet total
€209.5m
2024 · €207.1m+€2.4m

Largest movements

2024 to 2025
Assets
  • Receivables within one year +€2.5m

    up €2.5m (+14.7%), from €17.3m to €19.8m

Equity and liabilities
  • Reserves +€4.1m

    up €4.1m (+22.1%), from €18.8m to €22.9m

    of which Distributable reserves: +€3.9m

Income statement
  • Financial charges +€71,291

    up €71,291 (+17.2%), from €414,931 to €486,222

  • Financial income -€16,543

    down €16,543 (-0.3%), from €4.8m to €4.8m

  • Other operating charges +€1,646

    up €1,646 (+18.7%), from €8,779 to €10,425

  • Taxes -€1,508

    down €1,508 (-2.2%), from €68,320 to €66,813

  • Gross operating margin -€85

    down €85 (-1.2%), from -€6,781 to -€6,866

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 €4.3m
Gross operating margin -€85
Other operating charges -€1,646
Financial income -€16,543
Financial charges -€71,291
Taxes +€1,508
Result 2025 €4.2m

Cash bridge derived

cash 2024 to 2025

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.

From operations +€1.4m
Investment +€61,978
Financing -€1.6m
Cash 2024 €593,253
Net result for the year +€4.2m
Receivables within one year -€2.5m
Trade debts -€55
Tax, wage and social debts +€36,315
Other debts -€300,934
Current investments +€61,978
Debts after one year -€1.5m
Contributions, distributions and other -€71,429
Cash 2025 €492,944
Every line side by side 38 lines
Line Code 2024 2025 Change %
Total assets 20/58 €207,086,062 €209,465,424 +€2.4m +1.1%
Fixed assets 21/28 €182,966,182 €182,966,182 = 0.0%
Financial fixed assets 28 €182,966,182 €182,966,182 = 0.0%
Current assets 29/58 €24,119,880 €26,499,242 +€2.4m +9.9%
Amounts receivable within one year 40/41 €17,262,212 €19,803,861 +€2.5m +14.7%
Other amounts receivable 41 €17,262,212 €19,803,861 +€2.5m +14.7%
Current investments 50/53 €6,264,415 €6,202,436 -€61,978 -1.0%
Cash at bank and in hand 54/58 €593,253 €492,944 -€100,309 -16.9%
Total equity and liabilities 10/49 €207,086,062 €209,465,424 +€2.4m +1.1%
Equity 10/15 €193,741,235 €197,885,271 +€4.1m +2.1%
Contributions 10/11 €174,960,699 €174,960,699 = 0.0%
Capital 10 €174,960,699 €174,960,699 = 0.0%
Issued capital 100 €174,960,699 €174,960,699 = 0.0%
Reserves 13 €18,780,536 €22,924,572 +€4.1m +22.1%
Non-distributable reserves 130/1 €1,438,713 €1,649,486 +€210,773 +14.7%
Legal reserve 130 €1,438,713 €1,649,486 +€210,773 +14.7%
Distributable reserves 133 €17,341,823 €21,275,086 +€3.9m +22.7%
Profit (loss) carried forward 14 €0 €0 =
Amounts payable 17/49 €13,344,827 €11,580,153 -€1.8m -13.2%
Amounts payable after more than one year 17 €4,150,000 €2,650,000 -€1.5m -36.1%
Other amounts payable 178/9 €4,150,000 €2,650,000 -€1.5m -36.1%
Amounts payable within one year 42/48 €9,194,827 €8,930,153 -€264,674 -2.9%
Trade debts 44 €55 €0 -€55 -100.0%
Suppliers 440/4 €55 €0 -€55 -100.0%
Taxes, remuneration and social security 45 €68,320 €104,635 +€36,315 +53.2%
Taxes 450/3 €68,320 €104,635 +€36,315 +53.2%
Other amounts payable 47/48 €9,126,452 €8,825,518 -€300,934 -3.3%
Other operating charges 640/8 €8,779 €10,425 +€1,646 +18.7%
Gross operating margin 9900 -€6,781 -€6,866 -€85 -1.2%
Operating profit (loss) 9901 -€15,560 -€17,290 -€1,731 -11.1%
Financial income 75/76B €4,802,332 €4,785,790 -€16,543 -0.3%
Recurring financial income 75 €4,802,332 €4,785,790 -€16,543 -0.3%
Financial charges 65/66B €414,931 €486,222 +€71,291 +17.2%
Recurring financial charges 65 €414,931 €486,222 +€71,291 +17.2%
Profit (loss) for the period before taxes 9903 €4,371,842 €4,282,277 -€89,565 -2.0%
Income taxes 67/77 €68,320 €66,813 -€1,508 -2.2%
Profit (loss) for the period 9904 €4,303,521 €4,215,464 -€88,057 -2.0%
Profit (loss) for the period to be appropriated 9905 €4,303,521 €4,215,464 -€88,057 -2.0%

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 10 October 2026 via checked.be.