MANGIN-DENT: 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.
MANGIN-DENT
Largest movements
- Intangible fixed assets -€42,857
down €42,857 (-23.7%), from €181,030 to €138,173
- Cash +€41,935
up €41,935 (+138%), from €30,349 to €72,284
mainly Depreciation (+€82,872) and Net result for the year (+€55,168)
- Receivables within one year -€8,390
down €8,390 (-80.8%), from €10,390 to €2,000
- Profit (loss) carried forward +€55,168
up €55,168 (+41.1%), from €134,101 to €189,269
- Debts after one year -€39,874
down €39,874 (-25.5%), from €156,501 to €116,627
- Other debts -€20,578
down €20,578 (-26.4%), from €77,827 to €57,249
- Tax, wage and social debts -€10,598
down €10,598 (-33.0%), from €32,077 to €21,479
of which Taxes: -€17,977
- Trade debts +€4,759
up €4,759 (+78.7%), from €6,045 to €10,804
- Gross operating margin +€60,045
up €60,045 (+47.7%), from €125,920 to €185,964
- Staff costs +€25,366
new in 2025: €25,366
- Depreciation +€15,853
up €15,853 (+23.7%), from €67,018 to €82,872
- Taxes +€5,343
up €5,343 (+61.1%), from €8,752 to €14,095
- Financial charges +€2,853
up €2,853 (+67.1%), from €4,253 to €7,106
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 | €457,092 | €450,201 | -€6,892 | -1.5% |
| Fixed assets | 21/28 | €412,336 | €372,774 | -€39,562 | -9.6% |
| Intangible fixed assets | 21 | €181,030 | €138,173 | -€42,857 | -23.7% |
| Tangible fixed assets | 22/27 | €231,305 | €234,600 | +€3,295 | +1.4% |
| Furniture and vehicles | 24 | €168,010 | €155,370 | -€12,640 | -7.5% |
| Leasing and similar rights | 25 | - | €11,500 | +€11,500 | |
| Other tangible fixed assets | 26 | €63,295 | €67,730 | +€4,435 | +7.0% |
| Current assets | 29/58 | €44,757 | €77,427 | +€32,670 | +73.0% |
| Amounts receivable within one year | 40/41 | €10,390 | €2,000 | -€8,390 | -80.8% |
| Trade receivables | 40 | €10,390 | €2,000 | -€8,390 | -80.8% |
| Cash at bank and in hand | 54/58 | €30,349 | €72,284 | +€41,935 | +138% |
| Deferred charges and accrued income | 490/1 | €4,018 | €3,143 | -€875 | -21.8% |
| Total equity and liabilities | 10/49 | €457,092 | €450,201 | -€6,892 | -1.5% |
| Equity | 10/15 | €137,101 | €192,269 | +€55,168 | +40.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,101 | €189,269 | +€55,168 | +41.1% |
| Amounts payable | 17/49 | €319,991 | €257,932 | -€62,060 | -19.4% |
| Amounts payable after more than one year | 17 | €156,501 | €116,627 | -€39,874 | -25.5% |
| Financial debts | 170/4 | €156,501 | €116,627 | -€39,874 | -25.5% |
| Amounts payable within one year | 42/48 | €163,490 | €141,305 | -€22,185 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €47,542 | €51,773 | +€4,231 | +8.9% |
| Trade debts | 44 | €6,045 | €10,804 | +€4,759 | +78.7% |
| Suppliers | 440/4 | €6,045 | €10,804 | +€4,759 | +78.7% |
| Taxes, remuneration and social security | 45 | €32,077 | €21,479 | -€10,598 | -33.0% |
| Taxes | 450/3 | €32,077 | €14,100 | -€17,977 | -56.0% |
| Remuneration and social security | 454/9 | - | €7,379 | +€7,379 | |
| Other amounts payable | 47/48 | €77,827 | €57,249 | -€20,578 | -26.4% |
| Remuneration, social security and pensions | 62 | - | €25,366 | +€25,366 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,018 | €82,872 | +€15,853 | +23.7% |
| Other operating charges | 640/8 | €891 | €1,416 | +€525 | +58.9% |
| Non-recurring operating charges | 66A | €449 | €0 | -€449 | -100% |
| Gross operating margin | 9900 | €125,920 | €185,964 | +€60,045 | +47.7% |
| Operating profit (loss) | 9901 | €57,562 | €76,310 | +€18,749 | +32.6% |
| Financial income | 75/76B | €394 | €58 | -€336 | -85.3% |
| Recurring financial income | 75 | €394 | €58 | -€336 | -85.3% |
| Financial charges | 65/66B | €4,253 | €7,106 | +€2,853 | +67.1% |
| Recurring financial charges | 65 | €4,253 | €7,106 | +€2,853 | +67.1% |
| Profit (loss) for the period before taxes | 9903 | €53,702 | €69,262 | +€15,560 | +29.0% |
| Income taxes | 67/77 | €8,752 | €14,095 | +€5,343 | +61.1% |
| Profit (loss) for the period | 9904 | €44,950 | €55,168 | +€10,217 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,950 | €55,168 | +€10,217 | +22.7% |
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 21 October 2026 via checked.be.