MANIBA: 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.
MANIBA
Largest movements
- Cash -€2.4m
down €2.4m (-89.2%), from €2.7m to €289,782
mainly Debts after one year (-€1.6m) and Receivables within one year (-€540,689)
- Receivables within one year +€540,689
up €540,689 (+749.2%), from €72,165 to €612,854
of which Other amounts receivable: +€478,756
- Current investments +€113,594
up €113,594 (+7.7%), from €1.5m to €1.6m
- Debts after one year -€1.6m
no longer reported in 2025 (was €1.6m)
- Trade debts -€153,681
down €153,681 (-98.9%), from €155,357 to €1,676
- Gross operating margin -€16,054
down €16,054 (-23.0%), from -€69,931 to -€85,985
- Financial income +€9,985
up €9,985 (+7.9%), from €126,121 to €136,106
- Financial charges -€4,695
down €4,695 (-36.0%), from €13,056 to €8,361
- Taxes -€1,231
down €1,231 (-35.2%), from €3,502 to €2,271
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 | €4,330,003 | €2,558,722 | -€1.8m | -40.9% |
| Fixed assets | 21/28 | €79,714 | €55,276 | -€24,438 | -30.7% |
| Tangible fixed assets | 22/27 | €79,714 | €55,276 | -€24,438 | -30.7% |
| Land and buildings | 22 | €26,208 | €20,696 | -€5,513 | -21.0% |
| Plant, machinery and equipment | 23 | €6,082 | €4,435 | -€1,647 | -27.1% |
| Furniture and vehicles | 24 | €977 | €3,881 | +€2,904 | +297.3% |
| Leasing and similar rights | 25 | €46,446 | €26,264 | -€20,182 | -43.5% |
| Current assets | 29/58 | €4,250,289 | €2,503,446 | -€1.7m | -41.1% |
| Amounts receivable within one year | 40/41 | €72,165 | €612,854 | +€540,689 | +749.2% |
| Trade receivables | 40 | - | €61,932 | +€61,932 | |
| Other amounts receivable | 41 | €72,165 | €550,922 | +€478,756 | +663.4% |
| Current investments | 50/53 | €1,480,526 | €1,594,121 | +€113,594 | +7.7% |
| Cash at bank and in hand | 54/58 | €2,690,816 | €289,782 | -€2.4m | -89.2% |
| Deferred charges and accrued income | 490/1 | €6,781 | €6,689 | -€93 | -1.4% |
| Total equity and liabilities | 10/49 | €4,330,003 | €2,558,722 | -€1.8m | -40.9% |
| Equity | 10/15 | €2,548,174 | €2,554,070 | +€5,896 | +0.2% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Reserves | 13 | €2,533,041 | €2,538,891 | +€5,850 | +0.2% |
| Distributable reserves | 133 | €2,533,041 | €2,538,891 | +€5,850 | +0.2% |
| Profit (loss) carried forward | 14 | €7,076 | €7,123 | +€46 | +0.7% |
| Amounts payable | 17/49 | €1,781,829 | €4,652 | -€1.8m | -99.7% |
| Amounts payable after more than one year | 17 | €1,600,000 | - | -€1.6m | |
| Financial debts | 170/4 | €1,600,000 | - | -€1.6m | |
| Amounts payable within one year | 42/48 | €181,829 | €4,652 | -€177,177 | -97.4% |
| Current portion of amounts payable after more than one year | 42 | €9,709 | - | -€9,709 | |
| Trade debts | 44 | €155,357 | €1,676 | -€153,681 | -98.9% |
| Suppliers | 440/4 | €155,357 | €1,676 | -€153,681 | -98.9% |
| Taxes, remuneration and social security | 45 | €2,958 | €2,976 | +€18 | +0.6% |
| Remuneration and social security | 454/9 | €2,958 | €2,976 | +€18 | +0.6% |
| Other amounts payable | 47/48 | €13,805 | - | -€13,805 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,749 | €27,889 | +€140 | +0.5% |
| Other operating charges | 640/8 | €5,644 | €5,704 | +€60 | +1.1% |
| Gross operating margin | 9900 | -€69,931 | -€85,985 | -€16,054 | -23.0% |
| Operating profit (loss) | 9901 | -€103,325 | -€119,579 | -€16,254 | -15.7% |
| Financial income | 75/76B | €126,121 | €136,106 | +€9,985 | +7.9% |
| Recurring financial income | 75 | €126,121 | €136,106 | +€9,985 | +7.9% |
| Financial charges | 65/66B | €13,056 | €8,361 | -€4,695 | -36.0% |
| Recurring financial charges | 65 | €13,056 | €8,361 | -€4,695 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €9,741 | €8,167 | -€1,574 | -16.2% |
| Income taxes | 67/77 | €3,502 | €2,271 | -€1,231 | -35.2% |
| Profit (loss) for the period | 9904 | €6,239 | €5,896 | -€342 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,239 | €5,896 | -€342 | -5.5% |
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 11 October 2026 via checked.be.