MANHAY CONSTRUCT: 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.
What changed
MANHAY CONSTRUCT
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€3,236
2023 · €2,277+€959
Equity
€329,427
2023 · €342,690-€13,264
Cash
€4,747
2023 · €1,909+€2,838
Balance sheet total
€767,691
2023 · €826,598-€58,907
Largest movements
Assets
- Tangible fixed assets -€56,870
down €56,870 (-7.0%), from €807,695 to €750,826
of which Land and buildings: -€56,870
Equity and liabilities
- Debts after one year -€44,501
down €44,501 (-17.9%), from €249,278 to €204,776
- Investment grants -€16,500
down €16,500 (-9.0%), from €184,016 to €167,516
- Provisions -€8,500
down €8,500 (-9.0%), from €94,796 to €86,296
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2023
€2,277
Gross operating margin
+€490
Other operating charges
-€78
Financial income
+€2
Financial charges
+€545
Taxes
+€1
Result 2024
€3,236
Cash bridge derived
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.
From operations
+€63,315
Investment
€0
Financing
-€60,477
Cash 2023
€1,909
From operations (derived)
+€63,315
Net result for the year
+€3,236
Depreciation
+€56,870
Receivables within one year
+€4,875
Provisions
-€8,500
Trade debts
+€3,726
Tax, wage and social debts
-€5,274
Advances received
+€1,037
Other debts
+€7,345
Financing
-€60,477
Debts after one year
-€44,501
Current portion of long-term debt
+€524
Contributions, distributions and other
-€16,500
Cash 2024
€4,747
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €826,598 | €767,691 | -€58,907 | -7.1% |
| Fixed assets | 21/28 | €808,779 | €751,910 | -€56,870 | -7.0% |
| Tangible fixed assets | 22/27 | €807,695 | €750,826 | -€56,870 | -7.0% |
| Land and buildings | 22 | €795,695 | €738,826 | -€56,870 | -7.1% |
| Assets under construction and advance payments | 27 | €12,000 | €12,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,084 | €1,084 | = | 0.0% |
| Current assets | 29/58 | €17,818 | €15,781 | -€2,037 | -11.4% |
| Amounts receivable within one year | 40/41 | €15,909 | €11,034 | -€4,875 | -30.6% |
| Trade receivables | 40 | €15,647 | €11,034 | -€4,613 | -29.5% |
| Other amounts receivable | 41 | €262 | - | -€262 | |
| Cash at bank and in hand | 54/58 | €1,909 | €4,747 | +€2,838 | +148.7% |
| Total equity and liabilities | 10/49 | €826,598 | €767,691 | -€58,907 | -7.1% |
| Equity | 10/15 | €342,690 | €329,427 | -€13,264 | -3.9% |
| Contributions | 10/11 | €122,122 | €122,122 | = | 0.0% |
| Capital | 10 | €122,122 | €122,122 | = | 0.0% |
| Issued capital | 100 | €122,122 | €122,122 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Legal reserve | 130 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,552 | €36,789 | +€3,236 | +9.6% |
| Investment grants | 15 | €184,016 | €167,516 | -€16,500 | -9.0% |
| Provisions and deferred taxes | 16 | €94,796 | €86,296 | -€8,500 | -9.0% |
| Deferred taxes | 168 | €94,796 | €86,296 | -€8,500 | -9.0% |
| Amounts payable | 17/49 | €389,111 | €351,968 | -€37,143 | -9.5% |
| Amounts payable after more than one year | 17 | €249,278 | €204,776 | -€44,501 | -17.9% |
| Financial debts | 170/4 | €249,278 | €204,776 | -€44,501 | -17.9% |
| Amounts payable within one year | 42/48 | €139,833 | €147,192 | +€7,358 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €43,977 | €44,501 | +€524 | +1.2% |
| Trade debts | 44 | €13,714 | €17,440 | +€3,726 | +27.2% |
| Suppliers | 440/4 | €13,714 | €17,440 | +€3,726 | +27.2% |
| Advances received on contracts in progress | 46 | €25,000 | €26,037 | +€1,037 | +4.1% |
| Taxes, remuneration and social security | 45 | €6,102 | €828 | -€5,274 | -86.4% |
| Taxes | 450/3 | €6,102 | €828 | -€5,274 | -86.4% |
| Other amounts payable | 47/48 | €51,040 | €58,384 | +€7,345 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,870 | €56,870 | = | 0.0% |
| Other operating charges | 640/8 | €4,531 | €4,609 | +€78 | +1.7% |
| Gross operating margin | 9900 | €59,067 | €59,557 | +€490 | +0.8% |
| Operating profit (loss) | 9901 | -€2,333 | -€1,921 | +€412 | +17.7% |
| Financial income | 75/76B | €2 | €5 | +€2 | +89.9% |
| Recurring financial income | 75 | €2 | €5 | +€2 | +89.9% |
| Financial charges | 65/66B | €3,892 | €3,347 | -€545 | -14.0% |
| Recurring financial charges | 65 | €3,892 | €3,347 | -€545 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,222 | -€5,264 | +€959 | +15.4% |
| Transfer from deferred taxes | 780 | €8,500 | €8,500 | = | 0.0% |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | €2,277 | €3,236 | +€959 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,277 | €3,236 | +€959 | +42.1% |
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 11 October 2026 via checked.be.