MANHU'R: 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.
MANHU'R
Largest movements
- Cash -€3,541
down €3,541 (-79.7%), from €4,443 to €902
mainly Net result for the year (-€18,065) and Trade debts (-€1,191)
- Receivables within one year -€815
down €815 (-62.8%), from €1,296 to €482
of which Other amounts receivable: -€815
- Deferred charges and accrued income +€111
up €111 (+30.8%), from €359 to €470
- Profit (loss) carried forward -€18,065
down €18,065 (-16.8%), from -€107,490 to -€125,555
- Other debts +€14,991
up €14,991 (+32.6%), from €46,049 to €61,040
- Trade debts -€1,191
down €1,191 (-79.7%), from €1,494 to €303
- Gross operating margin +€4,974
up €4,974 (+23.1%), from -€21,522 to -€16,548
- Other operating charges +€425
up €425 (+58.3%), from €730 to €1,155
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 | €7,958 | €3,711 | -€4,247 | -53.4% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €1,841 | €1,841 | = | 0.0% |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €1,841 | €1,841 | = | 0.0% |
| Current assets | 29/58 | €6,117 | €1,870 | -€4,247 | -69.4% |
| Stocks and contracts in progress | 3 | €18 | €16 | -€2 | -11.8% |
| Stocks | 30/36 | €18 | €16 | -€2 | -11.8% |
| Amounts receivable within one year | 40/41 | €1,296 | €482 | -€815 | -62.8% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €1,296 | €482 | -€815 | -62.8% |
| Cash at bank and in hand | 54/58 | €4,443 | €902 | -€3,541 | -79.7% |
| Deferred charges and accrued income | 490/1 | €359 | €470 | +€111 | +30.8% |
| Total equity and liabilities | 10/49 | €7,958 | €3,711 | -€4,247 | -53.4% |
| Equity | 10/15 | -€40,147 | -€58,212 | -€18,065 | -45.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €48,751 | €48,751 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,550 | €7,550 | = | 0.0% |
| Distributable reserves | 133 | €39,342 | €39,342 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,490 | -€125,555 | -€18,065 | -16.8% |
| Amounts payable | 17/49 | €48,105 | €61,923 | +€13,818 | +28.7% |
| Amounts payable within one year | 42/48 | €48,105 | €61,923 | +€13,818 | +28.7% |
| Trade debts | 44 | €1,494 | €303 | -€1,191 | -79.7% |
| Suppliers | 440/4 | €1,494 | €303 | -€1,191 | -79.7% |
| Taxes, remuneration and social security | 45 | €562 | €580 | +€18 | +3.3% |
| Taxes | 450/3 | €562 | €580 | +€18 | +3.3% |
| Other amounts payable | 47/48 | €46,049 | €61,040 | +€14,991 | +32.6% |
| Other operating charges | 640/8 | €730 | €1,155 | +€425 | +58.3% |
| Gross operating margin | 9900 | -€21,522 | -€16,548 | +€4,974 | +23.1% |
| Operating profit (loss) | 9901 | -€22,251 | -€17,703 | +€4,549 | +20.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €74 | €66 | -€8 | -10.3% |
| Recurring financial charges | 65 | €74 | €66 | -€8 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€22,325 | -€17,769 | +€4,556 | +20.4% |
| Income taxes | 67/77 | €282 | €296 | +€15 | +5.2% |
| Profit (loss) for the period | 9904 | -€22,606 | -€18,065 | +€4,541 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,606 | -€18,065 | +€4,541 | +20.1% |
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 20 October 2026 via checked.be.