Mangart: 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.
Mangart
Largest movements
- Cash +€19,240
up €19,240 (+39.6%), from €48,572 to €67,811
mainly Receivables within one year (+€18,950) and Other debts (+€17,637)
- Receivables within one year -€18,950
down €18,950 (-60.2%), from €31,490 to €12,540
of which Trade receivables: -€17,865
- Reserves -€21,378
down €21,378 (-40.5%), from €52,733 to €31,356
- Other debts +€17,637
new in 2025: €17,637
- Tax, wage and social debts -€9,777
down €9,777 (-42.9%), from €22,800 to €13,022
of which Taxes: -€9,777
- Accrued charges and deferred income +€9,000
new in 2025: €9,000
- Trade debts +€3,368
up €3,368 (+176%), from €1,915 to €5,282
- Gross operating margin -€29,400
down €29,400 (-84.2%), from €34,920 to €5,521
- Taxes -€5,930
down €5,930 (-84.9%), from €6,986 to €1,056
- Other operating charges -€796
down €796 (-82.7%), from €963 to €167
- Financial charges +€357
up €357 (+25.0%), from €1,429 to €1,786
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 | €81,754 | €81,065 | -€689 | -0.8% |
| Fixed assets | 21/28 | €936 | €557 | -€379 | -40.5% |
| Tangible fixed assets | 22/27 | €936 | €557 | -€379 | -40.5% |
| Furniture and vehicles | 24 | €936 | €557 | -€379 | -40.5% |
| Current assets | 29/58 | €80,817 | €80,508 | -€309 | -0.4% |
| Amounts receivable within one year | 40/41 | €31,490 | €12,540 | -€18,950 | -60.2% |
| Trade receivables | 40 | €30,405 | €12,540 | -€17,865 | -58.8% |
| Other amounts receivable | 41 | €1,085 | - | -€1,085 | |
| Cash at bank and in hand | 54/58 | €48,572 | €67,811 | +€19,240 | +39.6% |
| Deferred charges and accrued income | 490/1 | €756 | €157 | -€599 | -79.3% |
| Total equity and liabilities | 10/49 | €81,754 | €81,065 | -€689 | -0.8% |
| Equity | 10/15 | €55,733 | €34,356 | -€21,378 | -38.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €52,733 | €31,356 | -€21,378 | -40.5% |
| Distributable reserves | 133 | €52,733 | €31,356 | -€21,378 | -40.5% |
| Amounts payable | 17/49 | €26,021 | €46,710 | +€20,689 | +79.5% |
| Amounts payable within one year | 42/48 | €26,021 | €37,710 | +€11,689 | +44.9% |
| Financial debts | 43 | €1,306 | €1,768 | +€461 | +35.3% |
| Credit institutions | 430/8 | €1,306 | €1,768 | +€461 | +35.3% |
| Trade debts | 44 | €1,915 | €5,282 | +€3,368 | +176% |
| Suppliers | 440/4 | €1,915 | €5,282 | +€3,368 | +176% |
| Taxes, remuneration and social security | 45 | €22,800 | €13,022 | -€9,777 | -42.9% |
| Taxes | 450/3 | €20,300 | €10,522 | -€9,777 | -48.2% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | - | €17,637 | +€17,637 | |
| Accrued charges and deferred income | 492/3 | - | €9,000 | +€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €201 | €379 | +€178 | +88.7% |
| Other operating charges | 640/8 | €963 | €167 | -€796 | -82.7% |
| Gross operating margin | 9900 | €34,920 | €5,521 | -€29,400 | -84.2% |
| Operating profit (loss) | 9901 | €33,757 | €4,975 | -€28,782 | -85.3% |
| Financial income | 75/76B | €90 | €196 | +€106 | +117% |
| Recurring financial income | 75 | €90 | €196 | +€106 | +117% |
| Financial charges | 65/66B | €1,429 | €1,786 | +€357 | +25.0% |
| Recurring financial charges | 65 | €1,429 | €1,786 | +€357 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €32,418 | €3,384 | -€29,033 | -89.6% |
| Income taxes | 67/77 | €6,986 | €1,056 | -€5,930 | -84.9% |
| Profit (loss) for the period | 9904 | €25,432 | €2,328 | -€23,103 | -90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,432 | €2,328 | -€23,103 | -90.8% |
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 20 October 2026 via checked.be.