Maniflex: 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.
Maniflex
Largest movements
- Tangible fixed assets +€507,726
up €507,726 (+182%), from €278,884 to €786,610
of which Land and buildings: +€503,488
- Debts after one year +€415,715
up €415,715 (+207%), from €200,753 to €616,468
- Trade debts +€85,670
up €85,670 (+1,173%), from €7,306 to €92,976
- Reserves +€27,498
up €27,498 (+21.6%), from €127,443 to €154,941
- Short-term financial debts -€25,000
down €25,000 (-100%), from €25,000 to €0
- Tax, wage and social debts -€20,579
down €20,579 (-83.0%), from €24,793 to €4,214
- Taxes -€8,354
down €8,354 (-77.4%), from €10,792 to €2,438
- Financial charges +€7,737
up €7,737 (+108%), from €7,187 to €14,925
- Other operating charges -€2,248
down €2,248 (-43.8%), from €5,130 to €2,883
- Depreciation +€2,069
up €2,069 (+11.1%), from €18,622 to €20,691
- Gross operating margin -€1,344
down €1,344 (-1.9%), from €70,066 to €68,722
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 | €428,453 | €939,513 | +€511,060 | +119% |
| Fixed assets | 21/28 | €278,884 | €789,807 | +€510,923 | +183% |
| Intangible fixed assets | 21 | - | €3,197 | +€3,197 | |
| Tangible fixed assets | 22/27 | €278,884 | €786,610 | +€507,726 | +182% |
| Land and buildings | 22 | €261,377 | €764,865 | +€503,488 | +193% |
| Plant, machinery and equipment | 23 | €4,124 | €1,050 | -€3,074 | -74.5% |
| Furniture and vehicles | 24 | €13,382 | €20,694 | +€7,312 | +54.6% |
| Current assets | 29/58 | €149,570 | €149,706 | +€136 | +0.1% |
| Amounts receivable within one year | 40/41 | €81,422 | €79,113 | -€2,309 | -2.8% |
| Trade receivables | 40 | €79,533 | €69,659 | -€9,874 | -12.4% |
| Other amounts receivable | 41 | €1,889 | €9,455 | +€7,565 | +400% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €63,150 | €61,009 | -€2,141 | -3.4% |
| Deferred charges and accrued income | 490/1 | €4,998 | €9,584 | +€4,586 | +91.8% |
| Total equity and liabilities | 10/49 | €428,453 | €939,513 | +€511,060 | +119% |
| Equity | 10/15 | €139,843 | €167,341 | +€27,498 | +19.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €127,443 | €154,941 | +€27,498 | +21.6% |
| Distributable reserves | 133 | €127,443 | €154,941 | +€27,498 | +21.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €288,611 | €772,173 | +€483,562 | +168% |
| Amounts payable after more than one year | 17 | €200,753 | €616,468 | +€415,715 | +207% |
| Financial debts | 170/4 | €200,753 | €616,468 | +€415,715 | +207% |
| Amounts payable within one year | 42/48 | €87,845 | €155,705 | +€67,860 | +77.2% |
| Current portion of amounts payable after more than one year | 42 | €16,748 | €31,892 | +€15,144 | +90.4% |
| Financial debts | 43 | €25,000 | €0 | -€25,000 | -100% |
| Credit institutions | 430/8 | €25,000 | €0 | -€25,000 | -100% |
| Trade debts | 44 | €7,306 | €92,976 | +€85,670 | +1,173% |
| Suppliers | 440/4 | €7,306 | €92,976 | +€85,670 | +1,173% |
| Taxes, remuneration and social security | 45 | €24,793 | €4,214 | -€20,579 | -83.0% |
| Taxes | 450/3 | €24,793 | €4,214 | -€20,579 | -83.0% |
| Other amounts payable | 47/48 | €13,997 | €26,623 | +€12,625 | +90.2% |
| Accrued charges and deferred income | 492/3 | €13 | €0 | -€13 | -100% |
| Non-recurring operating income | 76A | €0 | €1,851 | +€1,851 | |
| Remuneration, social security and pensions | 62 | €522 | €442 | -€80 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,622 | €20,691 | +€2,069 | +11.1% |
| Other operating charges | 640/8 | €5,130 | €2,883 | -€2,248 | -43.8% |
| Non-recurring operating charges | 66A | €2,476 | €336 | -€2,140 | -86.4% |
| Gross operating margin | 9900 | €70,066 | €68,722 | -€1,344 | -1.9% |
| Operating profit (loss) | 9901 | €43,316 | €44,371 | +€1,054 | +2.4% |
| Financial income | 75/76B | €817 | €489 | -€327 | -40.1% |
| Recurring financial income | 75 | €817 | €489 | -€327 | -40.1% |
| Financial charges | 65/66B | €7,187 | €14,925 | +€7,737 | +108% |
| Recurring financial charges | 65 | €7,187 | €14,925 | +€7,737 | +108% |
| Profit (loss) for the period before taxes | 9903 | €36,945 | €29,936 | -€7,010 | -19.0% |
| Income taxes | 67/77 | €10,792 | €2,438 | -€8,354 | -77.4% |
| Profit (loss) for the period | 9904 | €26,153 | €27,498 | +€1,344 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,153 | €27,498 | +€1,344 | +5.1% |
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 27 October 2026 via checked.be.