Manili: 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.
Manili
Largest movements
- Tangible fixed assets -€15,683
down €15,683 (-18.1%), from €86,462 to €70,779
of which Plant, machinery and equipment: -€9,478
- Receivables within one year -€6,349
down €6,349 (-9.7%), from €65,322 to €58,973
of which Trade receivables: -€9,724
- Cash -€4,127
down €4,127 (-35.7%), from €11,558 to €7,431
mainly Tax, wage and social debts (-€17,210) and Debts after one year (-€15,228)
- Deferred charges and accrued income -€2,962
down €2,962 (-25.8%), from €11,458 to €8,497
- Tax, wage and social debts -€17,210
down €17,210 (-79.8%), from €21,559 to €4,350
of which Taxes: -€10,253
- Debts after one year -€15,228
down €15,228 (-40.6%), from €37,526 to €22,299
- Other debts -€11,176
no longer reported in 2025 (was €11,176)
- Profit (loss) carried forward +€8,651
up €8,651 (+11.5%), from -€75,542 to -€66,891
- Trade debts +€4,214
up €4,214 (+6.3%), from €67,338 to €71,552
- Staff costs -€14,751
down €14,751 (-16.1%), from €91,770 to €77,020
- Gross operating margin +€14,701
up €14,701 (+13.8%), from €106,748 to €121,449
- Financial charges -€12,730
down €12,730 (-63.1%), from €20,177 to €7,447
of which Non-recurring financial charges: -€12,584
- Taxes +€4,818
up €4,818 (+1164.7%), from €414 to €5,232
- Other operating charges -€3,889
down €3,889 (-52.8%), from €7,364 to €3,474
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 | €184,400 | €155,691 | -€28,708 | -15.6% |
| Fixed assets | 21/28 | €86,462 | €70,779 | -€15,683 | -18.1% |
| Tangible fixed assets | 22/27 | €86,462 | €70,779 | -€15,683 | -18.1% |
| Plant, machinery and equipment | 23 | €24,646 | €15,168 | -€9,478 | -38.5% |
| Furniture and vehicles | 24 | €3,543 | €2,475 | -€1,068 | -30.1% |
| Other tangible fixed assets | 26 | €58,274 | €53,136 | -€5,138 | -8.8% |
| Current assets | 29/58 | €97,937 | €84,912 | -€13,025 | -13.3% |
| Stocks and contracts in progress | 3 | €9,599 | €10,012 | +€413 | +4.3% |
| Stocks | 30/36 | €9,599 | €10,012 | +€413 | +4.3% |
| Amounts receivable within one year | 40/41 | €65,322 | €58,973 | -€6,349 | -9.7% |
| Trade receivables | 40 | €55,587 | €45,863 | -€9,724 | -17.5% |
| Other amounts receivable | 41 | €9,734 | €13,110 | +€3,376 | +34.7% |
| Cash at bank and in hand | 54/58 | €11,558 | €7,431 | -€4,127 | -35.7% |
| Deferred charges and accrued income | 490/1 | €11,458 | €8,497 | -€2,962 | -25.8% |
| Total equity and liabilities | 10/49 | €184,400 | €155,691 | -€28,708 | -15.6% |
| Equity | 10/15 | €24,182 | €32,833 | +€8,651 | +35.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €98,724 | €98,724 | = | 0.0% |
| Distributable reserves | 133 | €98,724 | €98,724 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,542 | -€66,891 | +€8,651 | +11.5% |
| Amounts payable | 17/49 | €160,217 | €122,858 | -€37,359 | -23.3% |
| Amounts payable after more than one year | 17 | €37,526 | €22,299 | -€15,228 | -40.6% |
| Financial debts | 170/4 | €37,526 | €22,299 | -€15,228 | -40.6% |
| Amounts payable within one year | 42/48 | €122,691 | €100,560 | -€22,131 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €22,617 | €24,658 | +€2,041 | +9.0% |
| Trade debts | 44 | €67,338 | €71,552 | +€4,214 | +6.3% |
| Suppliers | 440/4 | €67,338 | €71,552 | +€4,214 | +6.3% |
| Taxes, remuneration and social security | 45 | €21,559 | €4,350 | -€17,210 | -79.8% |
| Taxes | 450/3 | €13,505 | €3,252 | -€10,253 | -75.9% |
| Remuneration and social security | 454/9 | €8,054 | €1,098 | -€6,956 | -86.4% |
| Other amounts payable | 47/48 | €11,176 | - | -€11,176 | |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | €91,770 | €77,020 | -€14,751 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,767 | €15,683 | -€84 | -0.5% |
| Other operating charges | 640/8 | €7,364 | €3,474 | -€3,889 | -52.8% |
| Non-recurring operating charges | 66A | - | €4,438 | +€4,438 | |
| Gross operating margin | 9900 | €106,748 | €121,449 | +€14,701 | +13.8% |
| Operating profit (loss) | 9901 | -€8,154 | €20,834 | +€28,988 | |
| Financial income | 75/76B | €63 | €496 | +€432 | +682.1% |
| Recurring financial income | 75 | €63 | €496 | +€432 | +682.1% |
| Financial charges | 65/66B | €20,177 | €7,447 | -€12,730 | -63.1% |
| Recurring financial charges | 65 | €7,593 | €7,447 | -€146 | -1.9% |
| Non-recurring financial charges | 66B | €12,584 | - | -€12,584 | |
| Profit (loss) for the period before taxes | 9903 | -€28,267 | €13,883 | +€42,150 | |
| Income taxes | 67/77 | €414 | €5,232 | +€4,818 | +1164.7% |
| Profit (loss) for the period | 9904 | -€28,681 | €8,651 | +€37,331 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,681 | €8,651 | +€37,331 |
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 8 October 2026 via checked.be.