MANGUT: 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.
MANGUT
Largest movements
- Cash -€41,280
down €41,280 (-63.9%), from €64,617 to €23,337
mainly Contributions, distributions and other (-€30,000) and Receivables within one year (-€19,825)
- Receivables within one year +€19,825
up €19,825 (+36.6%), from €54,128 to €73,954
of which Trade receivables: +€11,876
- Profit (loss) carried forward -€29,978
down €29,978 (-28.2%), from €106,167 to €76,189
- Tax, wage and social debts +€8,992
up €8,992 (+155.6%), from €5,781 to €14,772
of which Taxes: +€5,192
- Trade debts -€6,972
down €6,972 (-39.7%), from €17,544 to €10,572
of which Suppliers: -€6,972
- Reserves +€6,900
new in 2025: €6,900
- Gross operating margin -€2,956
down €2,956 (-16.2%), from €18,215 to €15,259
- Other operating charges +€243
up €243 (+18.0%), from €1,351 to €1,594
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 | €129,505 | €108,447 | -€21,058 | -16.3% |
| Fixed assets | 21/28 | €760 | €1,156 | +€396 | +52.1% |
| Tangible fixed assets | 22/27 | €760 | €1,156 | +€396 | +52.1% |
| Furniture and vehicles | 24 | €760 | €1,156 | +€396 | +52.1% |
| Current assets | 29/58 | €128,745 | €107,291 | -€21,454 | -16.7% |
| Stocks and contracts in progress | 3 | €10,000 | €10,000 | = | 0.0% |
| Contracts in progress | 37 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €54,128 | €73,954 | +€19,825 | +36.6% |
| Trade receivables | 40 | €35,420 | €47,296 | +€11,876 | +33.5% |
| Other amounts receivable | 41 | €18,709 | €26,658 | +€7,949 | +42.5% |
| Cash at bank and in hand | 54/58 | €64,617 | €23,337 | -€41,280 | -63.9% |
| Total equity and liabilities | 10/49 | €129,505 | €108,447 | -€21,058 | -16.3% |
| Equity | 10/15 | €106,168 | €83,090 | -€23,078 | -21.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | - | €6,900 | +€6,900 | |
| Distributable reserves | 133 | - | €6,900 | +€6,900 | |
| Profit (loss) carried forward | 14 | €106,167 | €76,189 | -€29,978 | -28.2% |
| Amounts payable | 17/49 | €23,337 | €25,357 | +€2,020 | +8.7% |
| Amounts payable within one year | 42/48 | €23,337 | €25,357 | +€2,020 | +8.7% |
| Financial debts | 43 | €12 | €12 | = | 0.0% |
| Credit institutions | 430/8 | €12 | €12 | = | 0.0% |
| Trade debts | 44 | €17,544 | €10,572 | -€6,972 | -39.7% |
| Suppliers | 440/4 | €17,494 | €10,522 | -€6,972 | -39.9% |
| Bills of exchange payable | 441 | €50 | €50 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,781 | €14,772 | +€8,992 | +155.6% |
| Taxes | 450/3 | €5,781 | €10,972 | +€5,192 | +89.8% |
| Remuneration and social security | 454/9 | - | €3,800 | +€3,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760 | €760 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,351 | €1,594 | +€243 | +18.0% |
| Gross operating margin | 9900 | €18,215 | €15,259 | -€2,956 | -16.2% |
| Operating profit (loss) | 9901 | €16,104 | €12,906 | -€3,198 | -19.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €283 | €187 | -€96 | -33.9% |
| Recurring financial charges | 65 | €283 | €187 | -€96 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €15,821 | €12,719 | -€3,102 | -19.6% |
| Income taxes | 67/77 | €5,781 | €5,797 | +€17 | +0.3% |
| Profit (loss) for the period | 9904 | €10,041 | €6,922 | -€3,119 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,041 | €6,922 | -€3,119 | -31.1% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.