MANILA BAY: 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.
MANILA BAY
Largest movements
- Receivables after one year -€73,702
down €73,702 (-18.2%), from €404,111 to €330,409
- Tangible fixed assets +€73,033
up €73,033 (+209%), from €34,943 to €107,976
of which Furniture and vehicles: +€79,084
- Receivables within one year +€31,374
up €31,374 (+31.8%), from €98,598 to €129,972
of which Other amounts receivable: +€115,888
- Cash +€19,774
up €19,774 (+245%), from €8,058 to €27,833
mainly Receivables after one year (+€73,702) and Debts after one year (+€37,000)
- Debts after one year +€37,000
up €37,000 (+28.6%), from €129,400 to €166,400
of which Financial debts: +€37,000
- Trade debts +€22,975
up €22,975 (+614%), from €3,743 to €26,717
- Profit (loss) carried forward -€16,586
down €16,586 (-7.0%), from €235,504 to €218,917
- Gross operating margin -€55,510
down €55,510 (-38.1%), from €145,752 to €90,243
- Staff costs +€26,239
up €26,239 (+37.4%), from €70,138 to €96,377
- Taxes -€20,201
down €20,201 (-99.3%), from €20,350 to €148
- Depreciation +€11,723
up €11,723 (+322%), from €3,644 to €15,367
- Financial income -€4,369
down €4,369 (-28.1%), from €15,543 to €11,173
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €587,912 | €638,390 | +€50,478 | +8.6% |
| Fixed assets | 21/28 | €65,943 | €138,976 | +€73,033 | +111% |
| Tangible fixed assets | 22/27 | €34,943 | €107,976 | +€73,033 | +209% |
| Plant, machinery and equipment | 23 | €2,418 | €510 | -€1,908 | -78.9% |
| Furniture and vehicles | 24 | €9,775 | €88,859 | +€79,084 | +809% |
| Other tangible fixed assets | 26 | €22,750 | €18,607 | -€4,143 | -18.2% |
| Financial fixed assets | 28 | €31,000 | €31,000 | = | 0.0% |
| Current assets | 29/58 | €521,969 | €499,415 | -€22,554 | -4.3% |
| Amounts receivable after more than one year | 29 | €404,111 | €330,409 | -€73,702 | -18.2% |
| Other amounts receivable | 291 | €404,111 | €330,409 | -€73,702 | -18.2% |
| Stocks and contracts in progress | 3 | €10,500 | €10,500 | = | 0.0% |
| Stocks | 30/36 | €10,500 | €10,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €98,598 | €129,972 | +€31,374 | +31.8% |
| Trade receivables | 40 | €88,503 | €3,989 | -€84,514 | -95.5% |
| Other amounts receivable | 41 | €10,095 | €125,983 | +€115,888 | +1,148% |
| Cash at bank and in hand | 54/58 | €8,058 | €27,833 | +€19,774 | +245% |
| Deferred charges and accrued income | 490/1 | €701 | €701 | = | 0.0% |
| Total equity and liabilities | 10/49 | €587,912 | €638,390 | +€50,478 | +8.6% |
| Equity | 10/15 | €404,326 | €387,740 | -€16,586 | -4.1% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €158,623 | €158,623 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €156,763 | €156,763 | = | 0.0% |
| Profit (loss) carried forward | 14 | €235,504 | €218,917 | -€16,586 | -7.0% |
| Amounts payable | 17/49 | €183,585 | €250,650 | +€67,065 | +36.5% |
| Amounts payable after more than one year | 17 | €129,400 | €166,400 | +€37,000 | +28.6% |
| Financial debts | 170/4 | €128,000 | €165,000 | +€37,000 | +28.9% |
| Other amounts payable | 178/9 | €1,400 | €1,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,089 | €84,154 | +€30,065 | +55.6% |
| Current portion of amounts payable after more than one year | 42 | €8,930 | €8,930 | = | 0.0% |
| Trade debts | 44 | €3,743 | €26,717 | +€22,975 | +614% |
| Suppliers | 440/4 | €3,743 | €26,717 | +€22,975 | +614% |
| Taxes, remuneration and social security | 45 | €41,417 | €47,507 | +€6,090 | +14.7% |
| Taxes | 450/3 | €30,507 | €29,099 | -€1,409 | -4.6% |
| Remuneration and social security | 454/9 | €10,909 | €18,408 | +€7,499 | +68.7% |
| Other amounts payable | 47/48 | - | €1,000 | +€1,000 | |
| Accrued charges and deferred income | 492/3 | €96 | €96 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €70,138 | €96,377 | +€26,239 | +37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,644 | €15,367 | +€11,723 | +322% |
| Other operating charges | 640/8 | €3,767 | €3,100 | -€667 | -17.7% |
| Gross operating margin | 9900 | €145,752 | €90,243 | -€55,510 | -38.1% |
| Operating profit (loss) | 9901 | €68,203 | -€24,602 | -€92,805 | |
| Financial income | 75/76B | €15,543 | €11,173 | -€4,369 | -28.1% |
| Recurring financial income | 75 | €15,543 | €11,173 | -€4,369 | -28.1% |
| Financial charges | 65/66B | €3,829 | €3,010 | -€820 | -21.4% |
| Recurring financial charges | 65 | €3,829 | €3,010 | -€820 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €79,917 | -€16,438 | -€96,355 | |
| Income taxes | 67/77 | €20,350 | €148 | -€20,201 | -99.3% |
| Profit (loss) for the period | 9904 | €59,567 | -€16,586 | -€76,153 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,567 | -€16,586 | -€76,153 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.