Manilex: 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.
Manilex
Largest movements
- Cash +€136,695
up €136,695 (+144.7%), from €94,470 to €231,165
mainly Net result for the year (+€158,536) and Trade debts (+€97,775)
- Tangible fixed assets -€63,762
down €63,762 (-2.8%), from €2.3m to €2.2m
of which Land and buildings: -€64,104
- Debts after one year -€157,631
down €157,631 (-18.9%), from €833,626 to €675,995
of which Financial debts: -€157,631
- Profit (loss) carried forward +€152,536
up €152,536 (+12.6%), from €1.2m to €1.4m
- Trade debts +€97,775
up €97,775 (+143.0%), from €68,386 to €166,161
- Current portion of long-term debt -€40,350
down €40,350 (-20.2%), from €200,122 to €159,772
- Tax, wage and social debts +€25,885
up €25,885 (+563.1%), from €4,597 to €30,482
- Gross operating margin +€46,053
up €46,053 (+16.2%), from €283,811 to €329,864
- Other operating charges -€33,326
down €33,326 (-62.9%), from €53,008 to €19,682
- Taxes +€18,869
up €18,869 (+66.8%), from €28,265 to €47,134
- Depreciation +€4,390
up €4,390 (+6.1%), from €72,418 to €76,808
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 | €2,412,818 | €2,494,343 | +€81,525 | +3.4% |
| Fixed assets | 21/28 | €2,288,167 | €2,226,322 | -€61,845 | -2.7% |
| Tangible fixed assets | 22/27 | €2,265,435 | €2,201,673 | -€63,762 | -2.8% |
| Land and buildings | 22 | €2,216,469 | €2,152,365 | -€64,104 | -2.9% |
| Furniture and vehicles | 24 | €11,439 | €19,253 | +€7,814 | +68.3% |
| Other tangible fixed assets | 26 | €37,527 | €30,055 | -€7,472 | -19.9% |
| Financial fixed assets | 28 | €22,732 | €24,649 | +€1,917 | +8.4% |
| Current assets | 29/58 | €124,651 | €268,021 | +€143,370 | +115.0% |
| Amounts receivable within one year | 40/41 | €29,049 | €36,120 | +€7,071 | +24.3% |
| Trade receivables | 40 | €27,155 | €36,120 | +€8,965 | +33.0% |
| Other amounts receivable | 41 | €1,894 | - | -€1,894 | |
| Cash at bank and in hand | 54/58 | €94,470 | €231,165 | +€136,695 | +144.7% |
| Deferred charges and accrued income | 490/1 | €1,132 | €736 | -€396 | -35.0% |
| Total equity and liabilities | 10/49 | €2,412,818 | €2,494,343 | +€81,525 | +3.4% |
| Equity | 10/15 | €1,232,757 | €1,385,293 | +€152,536 | +12.4% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,205,947 | €1,358,483 | +€152,536 | +12.6% |
| Amounts payable | 17/49 | €1,180,061 | €1,109,050 | -€71,011 | -6.0% |
| Amounts payable after more than one year | 17 | €833,626 | €675,995 | -€157,631 | -18.9% |
| Financial debts | 170/4 | €831,748 | €674,117 | -€157,631 | -19.0% |
| Other amounts payable | 178/9 | €1,878 | €1,878 | = | 0.0% |
| Amounts payable within one year | 42/48 | €344,610 | €431,180 | +€86,570 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €200,122 | €159,772 | -€40,350 | -20.2% |
| Financial debts | 43 | €935 | - | -€935 | |
| Credit institutions | 430/8 | €935 | - | -€935 | |
| Trade debts | 44 | €68,386 | €166,161 | +€97,775 | +143.0% |
| Suppliers | 440/4 | €68,386 | €166,161 | +€97,775 | +143.0% |
| Taxes, remuneration and social security | 45 | €4,597 | €30,482 | +€25,885 | +563.1% |
| Taxes | 450/3 | €4,597 | €30,482 | +€25,885 | +563.1% |
| Other amounts payable | 47/48 | €70,570 | €74,765 | +€4,195 | +5.9% |
| Accrued charges and deferred income | 492/3 | €1,825 | €1,875 | +€50 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,418 | €76,808 | +€4,390 | +6.1% |
| Other operating charges | 640/8 | €53,008 | €19,682 | -€33,326 | -62.9% |
| Gross operating margin | 9900 | €283,811 | €329,864 | +€46,053 | +16.2% |
| Operating profit (loss) | 9901 | €158,385 | €233,374 | +€74,989 | +47.3% |
| Financial income | 75/76B | €279 | €533 | +€254 | +91.0% |
| Recurring financial income | 75 | €279 | €533 | +€254 | +91.0% |
| Financial charges | 65/66B | €30,786 | €28,237 | -€2,549 | -8.3% |
| Recurring financial charges | 65 | €30,786 | €28,237 | -€2,549 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €127,878 | €205,670 | +€77,792 | +60.8% |
| Income taxes | 67/77 | €28,265 | €47,134 | +€18,869 | +66.8% |
| Profit (loss) for the period | 9904 | €99,613 | €158,536 | +€58,923 | +59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €99,613 | €158,536 | +€58,923 | +59.2% |
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 4 October 2026 via checked.be.