MANFROY CHAUFFAGE: 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.
MANFROY CHAUFFAGE
Largest movements
- Cash +€32,281
up €32,281 (+20.6%), from €157,031 to €189,312
mainly Net result for the year (+€29,926) and Tax, wage and social debts (+€12,407)
- Reserves +€29,926
up €29,926 (+112%), from €26,726 to €56,652
of which Distributable reserves: +€29,926
- Trade debts -€13,196
down €13,196 (-46.1%), from €28,623 to €15,426
- Tax, wage and social debts +€12,407
up €12,407 (+1,387%), from €895 to €13,301
of which Taxes: +€10,156
- Other debts +€3,850
up €3,850 (+290%), from €1,326 to €5,175
- Advances received -€3,407
down €3,407 (-53.0%), from €6,429 to €3,022
- Gross operating margin +€107,563
up €107,563 (+75.6%), from €142,312 to €249,876
- Staff costs +€68,143
up €68,143 (+48.4%), from €140,916 to €209,059
- Taxes +€11,010
up €11,010 (+1,236%), from €891 to €11,901
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 | €175,792 | €205,370 | +€29,578 | +16.8% |
| Fixed assets | 21/28 | €1,549 | €87 | -€1,462 | -94.4% |
| Tangible fixed assets | 22/27 | €1,462 | €0 | -€1,462 | -100% |
| Furniture and vehicles | 24 | €1,462 | €0 | -€1,462 | -100% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €87 | €87 | = | 0.0% |
| Current assets | 29/58 | €174,243 | €205,283 | +€31,040 | +17.8% |
| Stocks and contracts in progress | 3 | €5,279 | €4,469 | -€810 | -15.3% |
| Stocks | 30/36 | €5,279 | €4,469 | -€810 | -15.3% |
| Amounts receivable within one year | 40/41 | €9,965 | €9,514 | -€451 | -4.5% |
| Trade receivables | 40 | €1,976 | €681 | -€1,296 | -65.6% |
| Other amounts receivable | 41 | €7,989 | €8,833 | +€845 | +10.6% |
| Cash at bank and in hand | 54/58 | €157,031 | €189,312 | +€32,281 | +20.6% |
| Deferred charges and accrued income | 490/1 | €1,968 | €1,988 | +€20 | +1.0% |
| Total equity and liabilities | 10/49 | €175,792 | €205,370 | +€29,578 | +16.8% |
| Equity | 10/15 | €138,520 | €168,446 | +€29,926 | +21.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €26,726 | €56,652 | +€29,926 | +112% |
| Non-distributable reserves | 130/1 | €8,359 | €8,359 | = | 0.0% |
| Legal reserve | 130 | €7,268 | €7,268 | = | 0.0% |
| Other | 1319 | €1,091 | €1,091 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,366 | €18,366 | = | 0.0% |
| Distributable reserves | 133 | €1 | €29,927 | +€29,926 | +3,562,602% |
| Profit (loss) carried forward | 14 | €49,794 | €49,794 | = | 0.0% |
| Amounts payable | 17/49 | €37,272 | €36,924 | -€347 | -0.9% |
| Amounts payable within one year | 42/48 | €37,272 | €36,924 | -€347 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Trade debts | 44 | €28,623 | €15,426 | -€13,196 | -46.1% |
| Suppliers | 440/4 | €28,623 | €15,426 | -€13,196 | -46.1% |
| Advances received on contracts in progress | 46 | €6,429 | €3,022 | -€3,407 | -53.0% |
| Taxes, remuneration and social security | 45 | €895 | €13,301 | +€12,407 | +1,387% |
| Taxes | 450/3 | €895 | €11,051 | +€10,156 | +1,135% |
| Remuneration and social security | 454/9 | - | €2,250 | +€2,250 | |
| Other amounts payable | 47/48 | €1,326 | €5,175 | +€3,850 | +290% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €140,916 | €209,059 | +€68,143 | +48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,103 | €1,462 | -€1,641 | -52.9% |
| Other operating charges | 640/8 | €3,165 | €756 | -€2,409 | -76.1% |
| Gross operating margin | 9900 | €142,312 | €249,876 | +€107,563 | +75.6% |
| Operating profit (loss) | 9901 | -€4,871 | €38,599 | +€43,471 | |
| Financial income | 75/76B | €2,834 | €3,319 | +€486 | +17.1% |
| Recurring financial income | 75 | €2,834 | €3,319 | +€486 | +17.1% |
| Financial charges | 65/66B | €61 | €91 | +€30 | +49.0% |
| Recurring financial charges | 65 | €61 | €91 | +€30 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,099 | €41,827 | +€43,926 | |
| Income taxes | 67/77 | €891 | €11,901 | +€11,010 | +1,236% |
| Profit (loss) for the period | 9904 | -€2,990 | €29,926 | +€32,916 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,990 | €29,926 | +€32,916 |
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 15 October 2026 via checked.be.