Manhattan retail: 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.
Manhattan retail
Largest movements
- Cash +€701,912
up €701,912 (+54.9%), from €1.3m to €2.0m
mainly Accrued charges and deferred income (+€706,232) and Net result for the year (+€386,541)
- Receivables within one year -€254,207
down €254,207 (-15.7%), from €1.6m to €1.4m
of which Other amounts receivable: -€373,554
- Deferred charges and accrued income +€203,298
new in 2025: €203,298
- Tangible fixed assets -€90,239
down €90,239 (-3.8%), from €2.4m to €2.3m
- Accrued charges and deferred income +€706,232
new in 2025: €706,232
- Profit (loss) carried forward +€386,541
up €386,541, from -€88,996 to €297,545
- Debts after one year -€364,809
down €364,809 (-12.2%), from €3.0m to €2.6m
of which Financial debts: -€364,809
- Tax, wage and social debts -€182,581
down €182,581 (-100%), from €182,581 to €0
- Taxes +€179,393
up €179,393 (+99.4%), from €180,417 to €359,809
- Financial income +€44,899
new in 2025: €44,899
- Other operating charges -€39,188
down €39,188 (-43.1%), from €91,013 to €51,825
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 | €5,350,529 | €5,911,293 | +€560,764 | +10.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,451,826 | €2,361,587 | -€90,239 | -3.7% |
| Tangible fixed assets | 22/27 | €2,380,916 | €2,290,677 | -€90,239 | -3.8% |
| Land and buildings | 22 | €2,380,916 | €2,290,677 | -€90,239 | -3.8% |
| Financial fixed assets | 28 | €70,910 | €70,910 | = | 0.0% |
| Current assets | 29/58 | €2,898,703 | €3,549,706 | +€651,003 | +22.5% |
| Amounts receivable within one year | 40/41 | €1,619,014 | €1,364,807 | -€254,207 | -15.7% |
| Trade receivables | 40 | €414,016 | €533,363 | +€119,347 | +28.8% |
| Other amounts receivable | 41 | €1,204,998 | €831,444 | -€373,554 | -31.0% |
| Cash at bank and in hand | 54/58 | €1,279,689 | €1,981,601 | +€701,912 | +54.9% |
| Deferred charges and accrued income | 490/1 | - | €203,298 | +€203,298 | |
| Total equity and liabilities | 10/49 | €5,350,529 | €5,911,293 | +€560,764 | +10.5% |
| Equity | 10/15 | €1,524,771 | €1,911,312 | +€386,541 | +25.4% |
| Contributions | 10/11 | €1,613,767 | €1,613,767 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,996 | €297,545 | +€386,541 | |
| Amounts payable | 17/49 | €3,825,758 | €3,999,981 | +€174,223 | +4.6% |
| Amounts payable after more than one year | 17 | €2,996,425 | €2,631,616 | -€364,809 | -12.2% |
| Financial debts | 170/4 | €2,893,871 | €2,529,062 | -€364,809 | -12.6% |
| Other amounts payable | 178/9 | €102,554 | €102,554 | = | 0.0% |
| Amounts payable within one year | 42/48 | €829,333 | €662,132 | -€167,201 | -20.2% |
| Trade debts | 44 | €646,752 | €662,132 | +€15,380 | +2.4% |
| Suppliers | 440/4 | €646,752 | €662,132 | +€15,380 | +2.4% |
| Taxes, remuneration and social security | 45 | €182,581 | €0 | -€182,581 | -100% |
| Taxes | 450/3 | €182,581 | €0 | -€182,581 | -100% |
| Accrued charges and deferred income | 492/3 | - | €706,232 | +€706,232 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,738 | €105,037 | +€1,299 | +1.3% |
| Other operating charges | 640/8 | €91,013 | €51,825 | -€39,188 | -43.1% |
| Gross operating margin | 9900 | €1,212,663 | €1,201,132 | -€11,531 | -1.0% |
| Operating profit (loss) | 9901 | €1,017,912 | €1,044,269 | +€26,358 | +2.6% |
| Financial income | 75/76B | - | €44,899 | +€44,899 | |
| Recurring financial income | 75 | - | €44,899 | +€44,899 | |
| Financial charges | 65/66B | €341,617 | €342,818 | +€1,201 | +0.4% |
| Recurring financial charges | 65 | €341,617 | €342,818 | +€1,201 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €676,295 | €746,350 | +€70,055 | +10.4% |
| Income taxes | 67/77 | €180,417 | €359,809 | +€179,393 | +99.4% |
| Profit (loss) for the period | 9904 | €495,878 | €386,541 | -€109,337 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €495,878 | €386,541 | -€109,337 | -22.0% |
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 27 October 2026 via checked.be.