MANGROVE TREE: 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.
MANGROVE TREE
Largest movements
- Receivables within one year -€120,609
down €120,609 (-30.6%), from €394,558 to €273,949
of which Trade receivables: -€228,591
- Cash -€102,550
down €102,550 (-66.5%), from €154,166 to €51,616
mainly Other debts (-€239,523) and Trade debts (-€127,125)
- Receivables after one year -€80,000
down €80,000 (-41.1%), from €194,813 to €114,813
- Tangible fixed assets +€58,153
up €58,153 (+10.9%), from €531,995 to €590,148
of which Furniture and vehicles: +€75,888
- Other debts -€239,523
down €239,523 (-99.7%), from €240,145 to €621
- Profit (loss) carried forward +€198,972
up €198,972 (+164%), from €120,968 to €319,941
- Trade debts -€127,125
down €127,125 (-93.6%), from €135,762 to €8,637
- Accrued charges and deferred income -€69,308
no longer reported in 2024 (was €69,308)
- Tax, wage and social debts +€37,479
up €37,479 (+20.6%), from €181,654 to €219,133
of which Taxes: +€68,179
- Gross operating margin +€111,443
up €111,443 (+16.1%), from €690,107 to €801,550
- Depreciation -€50,493
down €50,493 (-49.4%), from €102,140 to €51,647
- Taxes +€44,473
up €44,473 (+90.7%), from €49,046 to €93,519
- Staff costs -€13,691
down €13,691 (-3.2%), from €428,267 to €414,576
- Other operating charges +€8,653
up €8,653 (+58.5%), from €14,793 to €23,446
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,295,619 | €1,048,340 | -€247,279 | -19.1% |
| Fixed assets | 21/28 | €540,396 | €597,549 | +€57,153 | +10.6% |
| Intangible fixed assets | 21 | €4,000 | €3,000 | -€1,000 | -25.0% |
| Tangible fixed assets | 22/27 | €531,995 | €590,148 | +€58,153 | +10.9% |
| Land and buildings | 22 | €502,339 | €487,298 | -€15,041 | -3.0% |
| Plant, machinery and equipment | 23 | €8,360 | €5,667 | -€2,693 | -32.2% |
| Furniture and vehicles | 24 | €21,296 | €97,183 | +€75,888 | +356% |
| Financial fixed assets | 28 | €4,400 | €4,400 | = | 0.0% |
| Current assets | 29/58 | €755,224 | €450,792 | -€304,432 | -40.3% |
| Amounts receivable after more than one year | 29 | €194,813 | €114,813 | -€80,000 | -41.1% |
| Other amounts receivable | 291 | €194,813 | €114,813 | -€80,000 | -41.1% |
| Stocks and contracts in progress | 3 | €11,687 | €8,437 | -€3,250 | -27.8% |
| Stocks | 30/36 | €11,687 | €8,437 | -€3,250 | -27.8% |
| Amounts receivable within one year | 40/41 | €394,558 | €273,949 | -€120,609 | -30.6% |
| Trade receivables | 40 | €228,591 | - | -€228,591 | |
| Other amounts receivable | 41 | €165,968 | €273,949 | +€107,982 | +65.1% |
| Cash at bank and in hand | 54/58 | €154,166 | €51,616 | -€102,550 | -66.5% |
| Deferred charges and accrued income | 490/1 | - | €1,977 | +€1,977 | |
| Total equity and liabilities | 10/49 | €1,295,619 | €1,048,340 | -€247,279 | -19.1% |
| Equity | 10/15 | €141,418 | €340,390 | +€198,972 | +141% |
| Contributions | 10/11 | €18,590 | €18,590 | = | 0.0% |
| Capital | 10 | €18,590 | €18,590 | = | 0.0% |
| Issued capital | 100 | €18,590 | €18,590 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,968 | €319,941 | +€198,972 | +164% |
| Amounts payable | 17/49 | €1,154,201 | €707,950 | -€446,251 | -38.7% |
| Amounts payable after more than one year | 17 | €466,179 | €430,681 | -€35,498 | -7.6% |
| Financial debts | 170/4 | €466,179 | €430,681 | -€35,498 | -7.6% |
| Amounts payable within one year | 42/48 | €618,714 | €277,269 | -€341,445 | -55.2% |
| Current portion of amounts payable after more than one year | 42 | €61,154 | €48,879 | -€12,275 | -20.1% |
| Trade debts | 44 | €135,762 | €8,637 | -€127,125 | -93.6% |
| Suppliers | 440/4 | €135,762 | €8,637 | -€127,125 | -93.6% |
| Taxes, remuneration and social security | 45 | €181,654 | €219,133 | +€37,479 | +20.6% |
| Taxes | 450/3 | €85,900 | €154,079 | +€68,179 | +79.4% |
| Remuneration and social security | 454/9 | €95,754 | €65,054 | -€30,700 | -32.1% |
| Other amounts payable | 47/48 | €240,145 | €621 | -€239,523 | -99.7% |
| Accrued charges and deferred income | 492/3 | €69,308 | - | -€69,308 | |
| Non-recurring operating income | 76A | €761 | €31,353 | +€30,592 | +4,018% |
| Remuneration, social security and pensions | 62 | €428,267 | €414,576 | -€13,691 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,140 | €51,647 | -€50,493 | -49.4% |
| Other operating charges | 640/8 | €14,793 | €23,446 | +€8,653 | +58.5% |
| Non-recurring operating charges | 66A | €22,896 | - | -€22,896 | |
| Gross operating margin | 9900 | €690,107 | €801,550 | +€111,443 | +16.1% |
| Operating profit (loss) | 9901 | €122,012 | €311,881 | +€189,869 | +156% |
| Financial income | 75/76B | €0 | €55 | +€55 | +55,010% |
| Recurring financial income | 75 | €0 | €55 | +€55 | +55,010% |
| Financial charges | 65/66B | €21,860 | €19,445 | -€2,415 | -11.0% |
| Recurring financial charges | 65 | €21,860 | €19,445 | -€2,415 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €100,152 | €292,491 | +€192,339 | +192% |
| Income taxes | 67/77 | €49,046 | €93,519 | +€44,473 | +90.7% |
| Profit (loss) for the period | 9904 | €51,106 | €198,972 | +€147,866 | +289% |
| Profit (loss) for the period to be appropriated | 9905 | €51,106 | €198,972 | +€147,866 | +289% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.