MaNiak: what changed
Two fiscal 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.
MaNiak
Largest movements
- Cash +€113,478
up €113,478 (+165.3%), from €68,633 to €182,110
mainly Debts after one year (+€121,744) and Net result for the year (+€57,068)
- Tangible fixed assets -€40,964
down €40,964 (-26.5%), from €154,703 to €113,738
of which Plant, machinery and equipment: -€36,640
- Receivables within one year +€22,713
up €22,713 (+12.5%), from €181,460 to €204,173
of which Trade receivables: +€74,358
- Deferred charges and accrued income -€15,027
down €15,027 (-96.5%), from €15,580 to €553
- Stocks and contracts +€8,813
up €8,813 (+393.8%), from €2,238 to €11,051
- Debts after one year +€121,744
up €121,744 (+139.2%), from €87,455 to €209,199
- Other debts -€116,622
down €116,622 (-64.4%), from €181,130 to €64,508
- Profit (loss) carried forward +€54,215
up €54,215, from -€41,108 to €13,107
- Trade debts +€50,458
up €50,458 (+215.2%), from €23,453 to €73,911
- Accrued charges and deferred income -€39,405
down €39,405 (-93.5%), from €42,133 to €2,728
- Gross operating margin -€69,794
down €69,794 (-20.1%), from €347,861 to €278,068
- Financial income +€28,134
up €28,134 (+761.9%), from €3,693 to €31,827
- Financial charges +€4,510
up €4,510 (+41.8%), from €10,798 to €15,308
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 | €441,418 | €528,713 | +€87,295 | +19.8% |
| Fixed assets | 21/28 | €173,507 | €130,825 | -€42,682 | -24.6% |
| Intangible fixed assets | 21 | €2,804 | €1,086 | -€1,718 | -61.3% |
| Tangible fixed assets | 22/27 | €154,703 | €113,738 | -€40,964 | -26.5% |
| Plant, machinery and equipment | 23 | €137,698 | €101,058 | -€36,640 | -26.6% |
| Furniture and vehicles | 24 | €9,383 | €6,375 | -€3,008 | -32.1% |
| Other tangible fixed assets | 26 | €7,622 | €6,306 | -€1,316 | -17.3% |
| Financial fixed assets | 28 | €16,000 | €16,000 | = | 0.0% |
| Current assets | 29/58 | €267,911 | €397,888 | +€129,977 | +48.5% |
| Stocks and contracts in progress | 3 | €2,238 | €11,051 | +€8,813 | +393.8% |
| Stocks | 30/36 | €2,238 | €11,051 | +€8,813 | +393.8% |
| Amounts receivable within one year | 40/41 | €181,460 | €204,173 | +€22,713 | +12.5% |
| Trade receivables | 40 | €31,507 | €105,865 | +€74,358 | +236.0% |
| Other amounts receivable | 41 | €149,953 | €98,308 | -€51,645 | -34.4% |
| Cash at bank and in hand | 54/58 | €68,633 | €182,110 | +€113,478 | +165.3% |
| Deferred charges and accrued income | 490/1 | €15,580 | €553 | -€15,027 | -96.5% |
| Total equity and liabilities | 10/49 | €441,418 | €528,713 | +€87,295 | +19.8% |
| Equity | 10/15 | €60,392 | €117,460 | +€57,068 | +94.5% |
| Contributions | 10/11 | €101,500 | €101,500 | = | 0.0% |
| Capital | 10 | €101,500 | €101,500 | = | 0.0% |
| Issued capital | 100 | €101,500 | €101,500 | = | 0.0% |
| Reserves | 13 | - | €2,853 | +€2,853 | |
| Non-distributable reserves | 130/1 | - | €2,853 | +€2,853 | |
| Legal reserve | 130 | - | €2,853 | +€2,853 | |
| Profit (loss) carried forward | 14 | -€41,108 | €13,107 | +€54,215 | |
| Amounts payable | 17/49 | €381,026 | €411,253 | +€30,226 | +7.9% |
| Amounts payable after more than one year | 17 | €87,455 | €209,199 | +€121,744 | +139.2% |
| Financial debts | 170/4 | €87,455 | €209,199 | +€121,744 | +139.2% |
| Amounts payable within one year | 42/48 | €251,438 | €199,325 | -€52,113 | -20.7% |
| Current portion of amounts payable after more than one year | 42 | €22,756 | €44,256 | +€21,500 | +94.5% |
| Trade debts | 44 | €23,453 | €73,911 | +€50,458 | +215.2% |
| Suppliers | 440/4 | €23,453 | €73,911 | +€50,458 | +215.2% |
| Advances received on contracts in progress | 46 | €4,024 | €621 | -€3,404 | -84.6% |
| Taxes, remuneration and social security | 45 | €20,076 | €16,030 | -€4,046 | -20.2% |
| Taxes | 450/3 | €8,303 | €4,207 | -€4,097 | -49.3% |
| Remuneration and social security | 454/9 | €11,772 | €11,823 | +€51 | +0.4% |
| Other amounts payable | 47/48 | €181,130 | €64,508 | -€116,622 | -64.4% |
| Accrued charges and deferred income | 492/3 | €42,133 | €2,728 | -€39,405 | -93.5% |
| Non-recurring operating income | 76A | €180 | €3,213 | +€3,033 | +1685.2% |
| Remuneration, social security and pensions | 62 | €181,912 | €181,337 | -€575 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,202 | €54,743 | -€3,460 | -5.9% |
| Other operating charges | 640/8 | €907 | €1,191 | +€284 | +31.3% |
| Non-recurring operating charges | 66A | €400 | €248 | -€153 | -38.1% |
| Gross operating margin | 9900 | €347,861 | €278,068 | -€69,794 | -20.1% |
| Operating profit (loss) | 9901 | €106,440 | €40,550 | -€65,890 | -61.9% |
| Financial income | 75/76B | €3,693 | €31,827 | +€28,134 | +761.9% |
| Recurring financial income | 75 | €3,693 | €31,827 | +€28,134 | +761.9% |
| Financial charges | 65/66B | €10,798 | €15,308 | +€4,510 | +41.8% |
| Recurring financial charges | 65 | €10,798 | €15,308 | +€4,510 | +41.8% |
| Profit (loss) for the period before taxes | 9903 | €99,335 | €57,068 | -€42,266 | -42.5% |
| Profit (loss) for the period | 9904 | €99,335 | €57,068 | -€42,266 | -42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €99,335 | €57,068 | -€42,266 | -42.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.