MANIC: 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.
MANIC
Largest movements
- Cash +€33,900
up €33,900 (+39.3%), from €86,326 to €120,225
mainly Net result for the year (+€97,617) and Tax, wage and social debts (+€23,149)
- Receivables within one year +€20,576
up €20,576 (+75.5%), from €27,242 to €47,818
of which Trade receivables: +€29,173
- Tangible fixed assets +€14,659
up €14,659 (+151.8%), from €9,658 to €24,317
of which Other tangible fixed assets: +€7,489
- Reserves +€66,541
up €66,541 (+377.0%), from €17,648 to €84,189
of which Distributable reserves: +€66,541
- Other debts -€46,363
down €46,363 (-84.5%), from €54,863 to €8,500
- Tax, wage and social debts +€23,149
up €23,149 (+208.1%), from €11,123 to €34,272
of which Taxes: +€23,149
- Profit (loss) carried forward +€22,576
up €22,576, from €0 to €22,576
- Trade debts +€5,000
up €5,000 (+1771.1%), from €282 to €5,282
- Gross operating margin +€56,092
up €56,092 (+65.0%), from €86,285 to €142,377
- Taxes +€13,085
up €13,085 (+54.7%), from €23,927 to €37,012
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 | €124,511 | €195,413 | +€70,902 | +56.9% |
| Fixed assets | 21/28 | €9,658 | €24,317 | +€14,659 | +151.8% |
| Tangible fixed assets | 22/27 | €9,658 | €24,317 | +€14,659 | +151.8% |
| Plant, machinery and equipment | 23 | €4,283 | €4,976 | +€693 | +16.2% |
| Furniture and vehicles | 24 | €0 | €6,477 | +€6,477 | |
| Other tangible fixed assets | 26 | €5,374 | €12,864 | +€7,489 | +139.4% |
| Current assets | 29/58 | €114,854 | €171,096 | +€56,243 | +49.0% |
| Amounts receivable within one year | 40/41 | €27,242 | €47,818 | +€20,576 | +75.5% |
| Trade receivables | 40 | €17,565 | €46,738 | +€29,173 | +166.1% |
| Other amounts receivable | 41 | €9,677 | €1,080 | -€8,597 | -88.8% |
| Cash at bank and in hand | 54/58 | €86,326 | €120,225 | +€33,900 | +39.3% |
| Deferred charges and accrued income | 490/1 | €1,286 | €3,053 | +€1,767 | +137.4% |
| Total equity and liabilities | 10/49 | €124,511 | €195,413 | +€70,902 | +56.9% |
| Equity | 10/15 | €57,648 | €146,765 | +€89,117 | +154.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €17,648 | €84,189 | +€66,541 | +377.0% |
| Non-distributable reserves | 130/1 | €1,171 | €1,171 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,171 | €1,171 | = | 0.0% |
| Distributable reserves | 133 | €16,477 | €83,018 | +€66,541 | +403.8% |
| Profit (loss) carried forward | 14 | €0 | €22,576 | +€22,576 | |
| Amounts payable | 17/49 | €66,863 | €48,649 | -€18,215 | -27.2% |
| Amounts payable within one year | 42/48 | €66,268 | €48,054 | -€18,215 | -27.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €282 | €5,282 | +€5,000 | +1771.1% |
| Suppliers | 440/4 | €282 | €5,282 | +€5,000 | +1771.1% |
| Taxes, remuneration and social security | 45 | €11,123 | €34,272 | +€23,149 | +208.1% |
| Taxes | 450/3 | €9,623 | €32,772 | +€23,149 | +240.6% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €54,863 | €8,500 | -€46,363 | -84.5% |
| Accrued charges and deferred income | 492/3 | €595 | €595 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,539 | €5,959 | +€1,420 | +31.3% |
| Other operating charges | 640/8 | €1,756 | €1,223 | -€533 | -30.3% |
| Gross operating margin | 9900 | €86,285 | €142,377 | +€56,092 | +65.0% |
| Operating profit (loss) | 9901 | €79,990 | €135,195 | +€55,205 | +69.0% |
| Financial income | 75/76B | €15 | €98 | +€83 | +536.3% |
| Recurring financial income | 75 | €15 | €98 | +€83 | +536.3% |
| Financial charges | 65/66B | €874 | €664 | -€210 | -24.1% |
| Recurring financial charges | 65 | €874 | €664 | -€210 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €79,131 | €134,629 | +€55,498 | +70.1% |
| Income taxes | 67/77 | €23,927 | €37,012 | +€13,085 | +54.7% |
| Profit (loss) for the period | 9904 | €55,204 | €97,617 | +€42,412 | +76.8% |
| Profit (loss) for the period to be appropriated | 9905 | €55,204 | €97,617 | +€42,412 | +76.8% |
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 12 October 2026 via checked.be.