MANETI: 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.
MANETI
Largest movements
- Receivables within one year +€4,690
up €4,690 (+5.5%), from €85,314 to €90,004
of which Trade receivables: +€4,690
- Cash -€4,674
down €4,674 (-34.6%), from €13,498 to €8,824
mainly Other debts (-€16,005) and Investment in fixed assets (net) (-€14,599)
- Profit (loss) carried forward +€17,728
up €17,728 (+24.5%), from €72,377 to €90,105
- Other debts -€16,005
down €16,005 (-17.4%), from €92,199 to €76,194
- Debts after one year -€12,731
down €12,731 (-16.2%), from €78,652 to €65,921
- Trade debts +€6,871
up €6,871 (+589%), from €1,166 to €8,038
- Gross operating margin -€35,303
down €35,303 (-48.7%), from €72,565 to €37,262
- Financial charges -€29,687
down €29,687 (-92.7%), from €32,041 to €2,354
of which Non-recurring financial charges: -€29,544
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 | €461,828 | €461,325 | -€504 | -0.1% |
| Fixed assets | 21/28 | €362,027 | €362,496 | +€469 | +0.1% |
| Tangible fixed assets | 22/27 | €362,027 | €362,496 | +€469 | +0.1% |
| Land and buildings | 22 | €359,048 | €360,262 | +€1,214 | +0.3% |
| Plant, machinery and equipment | 23 | €2,979 | €2,234 | -€745 | -25.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €99,801 | €98,829 | -€973 | -1.0% |
| Amounts receivable within one year | 40/41 | €85,314 | €90,004 | +€4,690 | +5.5% |
| Trade receivables | 40 | €85,314 | €90,004 | +€4,690 | +5.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €13,498 | €8,824 | -€4,674 | -34.6% |
| Deferred charges and accrued income | 490/1 | €989 | €0 | -€989 | -100% |
| Total equity and liabilities | 10/49 | €461,828 | €461,325 | -€504 | -0.1% |
| Equity | 10/15 | €272,828 | €290,556 | +€17,728 | +6.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,377 | €90,105 | +€17,728 | +24.5% |
| Amounts payable | 17/49 | €189,000 | €170,769 | -€18,232 | -9.6% |
| Amounts payable after more than one year | 17 | €78,652 | €65,921 | -€12,731 | -16.2% |
| Financial debts | 170/4 | €78,652 | €65,921 | -€12,731 | -16.2% |
| Amounts payable within one year | 42/48 | €110,349 | €104,848 | -€5,501 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €12,914 | €13,149 | +€235 | +1.8% |
| Trade debts | 44 | €1,166 | €8,038 | +€6,871 | +589% |
| Suppliers | 440/4 | €1,166 | €8,038 | +€6,871 | +589% |
| Taxes, remuneration and social security | 45 | €4,069 | €7,467 | +€3,398 | +83.5% |
| Taxes | 450/3 | €4,069 | €7,467 | +€3,398 | +83.5% |
| Other amounts payable | 47/48 | €92,199 | €76,194 | -€16,005 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,974 | €14,130 | +€156 | +1.1% |
| Other operating charges | 640/8 | €3,070 | €2,654 | -€416 | -13.6% |
| Gross operating margin | 9900 | €72,565 | €37,262 | -€35,303 | -48.7% |
| Operating profit (loss) | 9901 | €55,521 | €20,478 | -€35,043 | -63.1% |
| Financial income | 75/76B | €13 | €1 | -€12 | -93.1% |
| Recurring financial income | 75 | €13 | €1 | -€12 | -93.1% |
| Financial charges | 65/66B | €32,041 | €2,354 | -€29,687 | -92.7% |
| Recurring financial charges | 65 | €2,497 | €2,354 | -€143 | -5.7% |
| Non-recurring financial charges | 66B | €29,544 | €0 | -€29,544 | -100% |
| Profit (loss) for the period before taxes | 9903 | €23,492 | €18,124 | -€5,368 | -22.9% |
| Income taxes | 67/77 | €405 | €396 | -€8 | -2.1% |
| Profit (loss) for the period | 9904 | €23,088 | €17,728 | -€5,360 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,088 | €17,728 | -€5,360 | -23.2% |
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 19 October 2026 via checked.be.