MANIAS: 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.
MANIAS
Largest movements
- Stocks and contracts -€3,046
down €3,046 (-2.7%), from €112,987 to €109,941
- Tangible fixed assets -€1,275
down €1,275 (-28.3%), from €4,497 to €3,223
of which Furniture and vehicles: -€1,813
- Tax, wage and social debts +€16,286
up €16,286 (+240%), from €6,788 to €23,074
of which Remuneration and social security: +€15,875
- Trade debts -€11,439
down €11,439 (-31.7%), from €36,037 to €24,598
- Short-term financial debts -€7,916
no longer reported in 2025 (was €7,916)
- Gross operating margin -€14,425
down €14,425 (-20.7%), from €69,596 to €55,171
- Staff costs -€12,546
down €12,546 (-23.1%), from €54,288 to €41,742
- Financial charges -€4,183
down €4,183 (-46.4%), from €9,016 to €4,833
of which Financial charges: -€4,391
- Other operating charges +€3,353
up €3,353 (+98.1%), from €3,419 to €6,772
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 | €117,736 | €114,268 | -€3,468 | -2.9% |
| Fixed assets | 21/28 | €4,593 | €3,319 | -€1,275 | -27.7% |
| Tangible fixed assets | 22/27 | €4,497 | €3,223 | -€1,275 | -28.3% |
| Plant, machinery and equipment | 23 | - | €854 | +€854 | |
| Furniture and vehicles | 24 | €3,082 | €1,269 | -€1,813 | -58.8% |
| Other tangible fixed assets | 26 | €1,416 | €1,100 | -€316 | -22.3% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €113,143 | €110,949 | -€2,194 | -1.9% |
| Stocks and contracts in progress | 3 | €112,987 | €109,941 | -€3,046 | -2.7% |
| Stocks | 30/36 | €112,987 | €109,941 | -€3,046 | -2.7% |
| Amounts receivable within one year | 40/41 | €157 | €157 | = | 0.0% |
| Other amounts receivable | 41 | €157 | €157 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €852 | +€852 | |
| Total equity and liabilities | 10/49 | €117,736 | €114,268 | -€3,468 | -2.9% |
| Equity | 10/15 | €23,496 | €23,096 | -€400 | -1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €542 | €542 | = | 0.0% |
| Non-distributable reserves | 130/1 | €542 | €542 | = | 0.0% |
| Legal reserve | 130 | €542 | €542 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,354 | €3,954 | -€400 | -9.2% |
| Amounts payable | 17/49 | €94,241 | €91,172 | -€3,069 | -3.3% |
| Amounts payable within one year | 42/48 | €94,241 | €91,172 | -€3,069 | -3.3% |
| Financial debts | 43 | €7,916 | - | -€7,916 | |
| Credit institutions | 430/8 | €7,916 | - | -€7,916 | |
| Trade debts | 44 | €36,037 | €24,598 | -€11,439 | -31.7% |
| Suppliers | 440/4 | €36,037 | €24,598 | -€11,439 | -31.7% |
| Taxes, remuneration and social security | 45 | €6,788 | €23,074 | +€16,286 | +240% |
| Taxes | 450/3 | €4,621 | €5,032 | +€411 | +8.9% |
| Remuneration and social security | 454/9 | €2,166 | €18,041 | +€15,875 | +733% |
| Other amounts payable | 47/48 | €43,500 | €43,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €54,288 | €41,742 | -€12,546 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,244 | €2,224 | -€20 | -0.9% |
| Other operating charges | 640/8 | €3,419 | €6,772 | +€3,353 | +98.1% |
| Gross operating margin | 9900 | €69,596 | €55,171 | -€14,425 | -20.7% |
| Operating profit (loss) | 9901 | €9,646 | €4,433 | -€5,213 | -54.0% |
| Financial charges | 65/66B | €9,016 | €4,833 | -€4,183 | -46.4% |
| Recurring financial charges | 65 | €9,016 | €4,625 | -€4,391 | -48.7% |
| Non-recurring financial charges | 66B | - | €208 | +€208 | |
| Profit (loss) for the period before taxes | 9903 | €630 | -€400 | -€1,029 | |
| Profit (loss) for the period | 9904 | €630 | -€400 | -€1,029 | |
| Profit (loss) for the period to be appropriated | 9905 | €630 | -€400 | -€1,029 |
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 1 November 2026 via checked.be.