MANGALO: 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.
MANGALO
Largest movements
- Financial fixed assets +€128,000
up €128,000 (+182.9%), from €70,000 to €198,000
- Current investments -€57,247
down €57,247 (-53.2%), from €107,508 to €50,261
- Tangible fixed assets -€29,614
down €29,614 (-50.1%), from €59,066 to €29,452
- Reserves +€35,596
up €35,596 (+38.0%), from €93,564 to €129,160
- Other debts +€16,600
up €16,600 (+8.3%), from €200,463 to €217,063
- Tax, wage and social debts -€11,053
down €11,053 (-29.9%), from €36,949 to €25,896
- Gross operating margin -€3,640
down €3,640 (-4.2%), from €86,234 to €82,594
- Taxes -€1,196
down €1,196 (-6.5%), from €18,533 to €17,337
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.
Cash bridge derived
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 | €337,669 | €379,111 | +€41,443 | +12.3% |
| Fixed assets | 21/28 | €129,066 | €227,452 | +€98,386 | +76.2% |
| Tangible fixed assets | 22/27 | €59,066 | €29,452 | -€29,614 | -50.1% |
| Furniture and vehicles | 24 | €59,066 | €29,452 | -€29,614 | -50.1% |
| Financial fixed assets | 28 | €70,000 | €198,000 | +€128,000 | +182.9% |
| Current assets | 29/58 | €208,603 | €151,660 | -€56,943 | -27.3% |
| Amounts receivable after more than one year | 29 | €67,200 | €67,200 | = | 0.0% |
| Other amounts receivable | 291 | €67,200 | €67,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €30,174 | €31,015 | +€841 | +2.8% |
| Trade receivables | 40 | €12,034 | €12,034 | = | 0.0% |
| Other amounts receivable | 41 | €18,140 | €18,981 | +€841 | +4.6% |
| Current investments | 50/53 | €107,508 | €50,261 | -€57,247 | -53.2% |
| Cash at bank and in hand | 54/58 | €720 | - | -€720 | |
| Deferred charges and accrued income | 490/1 | €3,000 | €3,184 | +€184 | +6.1% |
| Total equity and liabilities | 10/49 | €337,669 | €379,111 | +€41,443 | +12.3% |
| Equity | 10/15 | €98,564 | €134,160 | +€35,596 | +36.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €93,564 | €129,160 | +€35,596 | +38.0% |
| Distributable reserves | 133 | €93,564 | €129,160 | +€35,596 | +38.0% |
| Amounts payable | 17/49 | €239,105 | €244,951 | +€5,846 | +2.4% |
| Amounts payable within one year | 42/48 | €239,105 | €244,951 | +€5,846 | +2.4% |
| Trade debts | 44 | €1,693 | €1,992 | +€299 | +17.7% |
| Suppliers | 440/4 | €1,693 | €1,992 | +€299 | +17.7% |
| Taxes, remuneration and social security | 45 | €36,949 | €25,896 | -€11,053 | -29.9% |
| Taxes | 450/3 | €36,949 | €25,896 | -€11,053 | -29.9% |
| Other amounts payable | 47/48 | €200,463 | €217,063 | +€16,600 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,614 | €29,614 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €86,234 | €82,594 | -€3,640 | -4.2% |
| Operating profit (loss) | 9901 | €56,115 | €52,460 | -€3,655 | -6.5% |
| Financial income | 75/76B | €786 | €593 | -€194 | -24.6% |
| Recurring financial income | 75 | €786 | €593 | -€194 | -24.6% |
| Financial charges | 65/66B | €284 | €119 | -€165 | -58.0% |
| Recurring financial charges | 65 | €30 | €23 | -€7 | -22.6% |
| Non-recurring financial charges | 66B | €254 | €96 | -€158 | -62.2% |
| Profit (loss) for the period before taxes | 9903 | €56,617 | €52,933 | -€3,684 | -6.5% |
| Income taxes | 67/77 | €18,533 | €17,337 | -€1,196 | -6.5% |
| Profit (loss) for the period | 9904 | €38,084 | €35,596 | -€2,488 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,084 | €35,596 | -€2,488 | -6.5% |
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 10 October 2026 via checked.be.