MANIFOLD: 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.
MANIFOLD
Largest movements
- Cash -€34,088
down €34,088 (-15.8%), from €215,488 to €181,400
mainly Investment in fixed assets (net) (-€46,835) and Net result for the year (-€38,090)
- Tangible fixed assets +€24,296
up €24,296 (+1.8%), from €1.3m to €1.3m
- Profit (loss) carried forward -€38,090
down €38,090 (-8.6%), from -€442,032 to -€480,122
- Other debts +€32,233
up €32,233 (+40.1%), from €80,300 to €112,532
- Gross operating margin +€12,686
up €12,686, from -€3,755 to €8,931
- Financial charges +€7,613
up €7,613 (+55.4%), from €13,742 to €21,355
- Financial income -€1,778
down €1,778 (-100.0%), from €1,778 to €0
- Depreciation +€1,644
up €1,644 (+7.9%), from €20,895 to €22,539
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 | €1,533,593 | €1,523,785 | -€9,808 | -0.6% |
| Fixed assets | 21/28 | €1,317,988 | €1,342,284 | +€24,296 | +1.8% |
| Tangible fixed assets | 22/27 | €1,317,988 | €1,342,284 | +€24,296 | +1.8% |
| Land and buildings | 22 | €1,317,988 | €1,342,284 | +€24,296 | +1.8% |
| Current assets | 29/58 | €215,605 | €181,501 | -€34,104 | -15.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €215,488 | €181,400 | -€34,088 | -15.8% |
| Deferred charges and accrued income | 490/1 | €117 | €101 | -€16 | -13.9% |
| Total equity and liabilities | 10/49 | €1,533,593 | €1,523,785 | -€9,808 | -0.6% |
| Equity | 10/15 | €796,838 | €758,748 | -€38,090 | -4.8% |
| Contributions | 10/11 | €329,698 | €329,698 | = | 0.0% |
| Capital | 10 | €329,698 | €329,698 | = | 0.0% |
| Issued capital | 100 | €329,698 | €329,698 | = | 0.0% |
| Revaluation surpluses | 12 | €900,000 | €900,000 | = | 0.0% |
| Reserves | 13 | €9,172 | €9,172 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,172 | €9,172 | = | 0.0% |
| Legal reserve | 130 | €9,172 | €9,172 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€442,032 | -€480,122 | -€38,090 | -8.6% |
| Amounts payable | 17/49 | €736,755 | €765,037 | +€28,282 | +3.8% |
| Amounts payable after more than one year | 17 | €650,000 | €650,000 | = | 0.0% |
| Other amounts payable | 178/9 | €650,000 | €650,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €83,661 | €113,943 | +€30,282 | +36.2% |
| Trade debts | 44 | €3,361 | €1,410 | -€1,951 | -58.0% |
| Suppliers | 440/4 | €3,361 | €1,410 | -€1,951 | -58.0% |
| Other amounts payable | 47/48 | €80,300 | €112,532 | +€32,233 | +40.1% |
| Accrued charges and deferred income | 492/3 | €3,094 | €1,094 | -€2,000 | -64.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,895 | €22,539 | +€1,644 | +7.9% |
| Other operating charges | 640/8 | €3,058 | €3,127 | +€69 | +2.3% |
| Gross operating margin | 9900 | -€3,755 | €8,931 | +€12,686 | |
| Operating profit (loss) | 9901 | -€27,709 | -€16,735 | +€10,974 | +39.6% |
| Financial income | 75/76B | €1,778 | €0 | -€1,778 | -100.0% |
| Recurring financial income | 75 | €1,778 | €0 | -€1,778 | -100.0% |
| Financial charges | 65/66B | €13,742 | €21,355 | +€7,613 | +55.4% |
| Recurring financial charges | 65 | €13,742 | €21,355 | +€7,613 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | -€39,673 | -€38,090 | +€1,583 | +4.0% |
| Profit (loss) for the period | 9904 | -€39,673 | -€38,090 | +€1,583 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,673 | -€38,090 | +€1,583 | +4.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.