Manet Management in Motion: 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.
Manet Management in Motion
Largest movements
- Tangible fixed assets -€44,905
down €44,905 (-4.9%), from €913,850 to €868,945
of which Land and buildings: -€36,217
- Receivables after one year -€33,000
down €33,000 (-14.3%), from €231,300 to €198,300
- Other debts +€119,519
up €119,519 (+220%), from €54,233 to €173,752
- Current portion of long-term debt -€111,184
down €111,184 (-49.9%), from €222,777 to €111,594
- Debts after one year -€103,315
down €103,315 (-14.3%), from €722,665 to €619,350
- Reserves +€13,526
up €13,526 (+9.3%), from €145,103 to €158,629
of which Distributable reserves: +€13,526
- Gross operating margin -€93,671
down €93,671 (-45.9%), from €204,218 to €110,548
- Depreciation -€28,136
down €28,136 (-37.9%), from €74,304 to €46,168
- Taxes -€14,386
down €14,386 (-50.1%), from €28,739 to €14,353
- Financial charges -€13,326
down €13,326 (-24.2%), from €55,162 to €41,836
- Other operating charges -€6,453
down €6,453 (-45.0%), from €14,334 to €7,881
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 | €1,230,776 | €1,144,592 | -€86,184 | -7.0% |
| Fixed assets | 21/28 | €913,850 | €868,945 | -€44,905 | -4.9% |
| Tangible fixed assets | 22/27 | €913,850 | €868,945 | -€44,905 | -4.9% |
| Land and buildings | 22 | €851,829 | €815,612 | -€36,217 | -4.3% |
| Furniture and vehicles | 24 | €34,971 | €26,283 | -€8,688 | -24.8% |
| Other tangible fixed assets | 26 | €27,050 | €27,050 | = | 0.0% |
| Current assets | 29/58 | €316,926 | €275,647 | -€41,279 | -13.0% |
| Amounts receivable after more than one year | 29 | €231,300 | €198,300 | -€33,000 | -14.3% |
| Other amounts receivable | 291 | €231,300 | €198,300 | -€33,000 | -14.3% |
| Amounts receivable within one year | 40/41 | €40,974 | €49,362 | +€8,387 | +20.5% |
| Trade receivables | 40 | €7,955 | €14,414 | +€6,460 | +81.2% |
| Other amounts receivable | 41 | €33,020 | €34,947 | +€1,928 | +5.8% |
| Cash at bank and in hand | 54/58 | €34,090 | €22,850 | -€11,240 | -33.0% |
| Deferred charges and accrued income | 490/1 | €10,561 | €5,135 | -€5,426 | -51.4% |
| Total equity and liabilities | 10/49 | €1,230,776 | €1,144,592 | -€86,184 | -7.0% |
| Equity | 10/15 | €163,703 | €177,229 | +€13,526 | +8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,103 | €158,629 | +€13,526 | +9.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €145,103 | €158,629 | +€13,526 | +9.3% |
| Amounts payable | 17/49 | €1,067,073 | €967,363 | -€99,710 | -9.3% |
| Amounts payable after more than one year | 17 | €722,665 | €619,350 | -€103,315 | -14.3% |
| Financial debts | 170/4 | €722,665 | €619,350 | -€103,315 | -14.3% |
| Amounts payable within one year | 42/48 | €321,289 | €324,710 | +€3,421 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €222,777 | €111,594 | -€111,184 | -49.9% |
| Financial debts | 43 | - | €7,352 | +€7,352 | |
| Credit institutions | 430/8 | - | €7,352 | +€7,352 | |
| Trade debts | 44 | €12,658 | €3,900 | -€8,758 | -69.2% |
| Suppliers | 440/4 | €12,658 | €3,900 | -€8,758 | -69.2% |
| Taxes, remuneration and social security | 45 | €31,620 | €28,111 | -€3,509 | -11.1% |
| Taxes | 450/3 | €31,620 | €28,111 | -€3,509 | -11.1% |
| Other amounts payable | 47/48 | €54,233 | €173,752 | +€119,519 | +220% |
| Accrued charges and deferred income | 492/3 | €23,119 | €23,303 | +€184 | +0.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,304 | €46,168 | -€28,136 | -37.9% |
| Other operating charges | 640/8 | €14,334 | €7,881 | -€6,453 | -45.0% |
| Gross operating margin | 9900 | €204,218 | €110,548 | -€93,671 | -45.9% |
| Operating profit (loss) | 9901 | €115,580 | €56,499 | -€59,081 | -51.1% |
| Financial income | 75/76B | €9,961 | €13,215 | +€3,255 | +32.7% |
| Recurring financial income | 75 | €9,961 | €13,215 | +€3,255 | +32.7% |
| Financial charges | 65/66B | €55,162 | €41,836 | -€13,326 | -24.2% |
| Recurring financial charges | 65 | €55,162 | €41,836 | -€13,326 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €70,379 | €27,879 | -€42,500 | -60.4% |
| Income taxes | 67/77 | €28,739 | €14,353 | -€14,386 | -50.1% |
| Profit (loss) for the period | 9904 | €41,641 | €13,526 | -€28,114 | -67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,641 | €13,526 | -€28,114 | -67.5% |
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 30 October 2026 via checked.be.