MANIFAC: 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.
MANIFAC
Largest movements
- Cash -€175,882
down €175,882 (-64.5%), from €272,790 to €96,908
mainly Contributions, distributions and other (-€151,000) and Receivables within one year (-€32,833)
- Receivables within one year +€32,833
up €32,833 (+189.6%), from €17,317 to €50,151
- Tangible fixed assets -€25,501
down €25,501 (-5.5%), from €464,221 to €438,720
of which Land and buildings: -€14,742
- Reserves -€154,262
down €154,262 (-21.6%), from €712,794 to €558,531
of which Distributable reserves: -€154,128
- Trade debts -€13,403
down €13,403 (-65.0%), from €20,609 to €7,205
- Other operating charges -€4,938
down €4,938 (-41.5%), from €11,886 to €6,948
- Gross operating margin -€1,276
down €1,276 (-3.7%), from €34,037 to €32,761
- Taxes +€480
up €480 (+96.8%), from €496 to €976
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 | €755,538 | €587,771 | -€167,767 | -22.2% |
| Fixed assets | 21/28 | €464,271 | €438,770 | -€25,501 | -5.5% |
| Tangible fixed assets | 22/27 | €464,221 | €438,720 | -€25,501 | -5.5% |
| Land and buildings | 22 | €444,716 | €429,974 | -€14,742 | -3.3% |
| Plant, machinery and equipment | 23 | €2,350 | €2,264 | -€87 | -3.7% |
| Furniture and vehicles | 24 | €17,155 | €6,483 | -€10,673 | -62.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €291,267 | €149,000 | -€142,266 | -48.8% |
| Amounts receivable within one year | 40/41 | €17,317 | €50,151 | +€32,833 | +189.6% |
| Trade receivables | 40 | €17,317 | €50,151 | +€32,833 | +189.6% |
| Cash at bank and in hand | 54/58 | €272,790 | €96,908 | -€175,882 | -64.5% |
| Deferred charges and accrued income | 490/1 | €1,159 | €1,942 | +€783 | +67.5% |
| Total equity and liabilities | 10/49 | €755,538 | €587,771 | -€167,767 | -22.2% |
| Equity | 10/15 | €731,394 | €577,131 | -€154,262 | -21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €712,794 | €558,531 | -€154,262 | -21.6% |
| Tax-exempt reserves | 132 | €54,758 | €54,624 | -€134 | -0.2% |
| Distributable reserves | 133 | €658,035 | €503,907 | -€154,128 | -23.4% |
| Provisions and deferred taxes | 16 | €423 | €334 | -€89 | -21.1% |
| Deferred taxes | 168 | €423 | €334 | -€89 | -21.1% |
| Amounts payable | 17/49 | €23,721 | €10,305 | -€13,416 | -56.6% |
| Amounts payable within one year | 42/48 | €23,721 | €10,305 | -€13,416 | -56.6% |
| Trade debts | 44 | €20,609 | €7,205 | -€13,403 | -65.0% |
| Suppliers | 440/4 | €20,609 | €7,205 | -€13,403 | -65.0% |
| Taxes, remuneration and social security | 45 | €3,113 | €3,100 | -€13 | -0.4% |
| Taxes | 450/3 | €3,113 | €3,100 | -€13 | -0.4% |
| Non-recurring operating income | 76A | €413 | - | -€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,943 | €28,221 | +€278 | +1.0% |
| Other operating charges | 640/8 | €11,886 | €6,948 | -€4,938 | -41.5% |
| Gross operating margin | 9900 | €34,037 | €32,761 | -€1,276 | -3.7% |
| Operating profit (loss) | 9901 | -€5,792 | -€2,408 | +€3,383 | +58.4% |
| Financial income | 75/76B | €0 | €316 | +€315 | +105140.0% |
| Recurring financial income | 75 | €0 | €316 | +€315 | +105140.0% |
| Financial charges | 65/66B | €282 | €283 | +€1 | +0.3% |
| Recurring financial charges | 65 | €282 | €283 | +€1 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,073 | -€2,375 | +€3,698 | +60.9% |
| Transfer from deferred taxes | 780 | €89 | €89 | = | 0.0% |
| Income taxes | 67/77 | €496 | €976 | +€480 | +96.8% |
| Profit (loss) for the period | 9904 | -€6,480 | -€3,262 | +€3,218 | +49.7% |
| Transfer from tax-exempt reserves | 789 | €134 | €134 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,346 | -€3,128 | +€3,218 | +50.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.