Manfinsol: 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.
Manfinsol
Largest movements
- Current investments +€20,000
up €20,000 (+13.3%), from €150,000 to €170,000
- Cash +€15,570
up €15,570 (+34.7%), from €44,867 to €60,437
mainly Net result for the year (+€54,851) and Receivables within one year (+€8,643)
- Receivables within one year -€8,643
down €8,643 (-63.3%), from €13,649 to €5,006
of which Trade receivables: -€13,113
- Reserves +€33,350
up €33,350 (+22.1%), from €150,880 to €184,230
- Tax, wage and social debts -€5,258
down €5,258 (-24.6%), from €21,390 to €16,132
of which Taxes: -€5,348
- Turnover +€17,328
up €17,328 (+8.8%), from €197,925 to €215,253
- Gross operating margin +€11,827
up €11,827 (+9.5%), from €124,092 to €135,919
- Staff costs +€5,613
up €5,613 (+9.3%), from €60,677 to €66,290
- Purchases and services +€5,501
up €5,501 (+7.5%), from €73,833 to €79,334
- Financial income +€3,507
new in 2025: €3,507
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 | €220,124 | €244,836 | +€24,712 | +11.2% |
| Fixed assets | 21/28 | €11,608 | €9,393 | -€2,215 | -19.1% |
| Tangible fixed assets | 22/27 | €9,645 | €7,430 | -€2,215 | -23.0% |
| Furniture and vehicles | 24 | €9,645 | €7,430 | -€2,215 | -23.0% |
| Financial fixed assets | 28 | €1,963 | €1,963 | = | 0.0% |
| Current assets | 29/58 | €208,516 | €235,443 | +€26,927 | +12.9% |
| Amounts receivable within one year | 40/41 | €13,649 | €5,006 | -€8,643 | -63.3% |
| Trade receivables | 40 | €13,649 | €536 | -€13,113 | -96.1% |
| Other amounts receivable | 41 | - | €4,470 | +€4,470 | |
| Current investments | 50/53 | €150,000 | €170,000 | +€20,000 | +13.3% |
| Cash at bank and in hand | 54/58 | €44,867 | €60,437 | +€15,570 | +34.7% |
| Total equity and liabilities | 10/49 | €220,124 | €244,836 | +€24,712 | +11.2% |
| Equity | 10/15 | €173,190 | €206,541 | +€33,351 | +19.3% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €150,880 | €184,230 | +€33,350 | +22.1% |
| Distributable reserves | 133 | €150,880 | €184,230 | +€33,350 | +22.1% |
| Profit (loss) carried forward | 14 | €310 | €311 | +€1 | +0.3% |
| Amounts payable | 17/49 | €46,934 | €38,295 | -€8,639 | -18.4% |
| Amounts payable within one year | 42/48 | €46,934 | €38,295 | -€8,639 | -18.4% |
| Trade debts | 44 | €1,766 | €205 | -€1,561 | -88.4% |
| Suppliers | 440/4 | €1,766 | €205 | -€1,561 | -88.4% |
| Taxes, remuneration and social security | 45 | €21,390 | €16,132 | -€5,258 | -24.6% |
| Taxes | 450/3 | €11,464 | €6,116 | -€5,348 | -46.7% |
| Remuneration and social security | 454/9 | €9,926 | €10,016 | +€90 | +0.9% |
| Other amounts payable | 47/48 | €23,778 | €21,958 | -€1,820 | -7.7% |
| Turnover | 70 | €197,925 | €215,253 | +€17,328 | +8.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €73,833 | €79,334 | +€5,501 | +7.5% |
| Remuneration, social security and pensions | 62 | €60,677 | €66,290 | +€5,613 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,678 | €5,272 | +€594 | +12.7% |
| Other operating charges | 640/8 | €450 | €375 | -€75 | -16.7% |
| Gross operating margin | 9900 | €124,092 | €135,919 | +€11,827 | +9.5% |
| Operating profit (loss) | 9901 | €58,287 | €63,982 | +€5,695 | +9.8% |
| Financial income | 75/76B | - | €3,507 | +€3,507 | |
| Recurring financial income | 75 | - | €3,507 | +€3,507 | |
| Financial charges | 65/66B | €66 | €219 | +€153 | +232% |
| Recurring financial charges | 65 | €66 | €219 | +€153 | +232% |
| Profit (loss) for the period before taxes | 9903 | €58,221 | €67,270 | +€9,049 | +15.5% |
| Income taxes | 67/77 | €10,682 | €12,419 | +€1,737 | +16.3% |
| Profit (loss) for the period | 9904 | €47,539 | €54,851 | +€7,312 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €47,539 | €54,851 | +€7,312 | +15.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.