MANIMCOR: 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.
MANIMCOR
Largest movements
- Receivables after one year -€184,789
down €184,789 (-25.8%), from €714,976 to €530,187
- Receivables within one year -€141,831
down €141,831 (-67.1%), from €211,375 to €69,543
of which Other amounts receivable: -€143,735
- Current investments -€58,102
down €58,102 (-12.9%), from €450,000 to €391,898
- Cash -€19,585
down €19,585 (-53.4%), from €36,680 to €17,095
- Deferred charges and accrued income +€19,425
up €19,425 (+188%), from €10,308 to €29,733
- Other debts -€297,581
down €297,581 (-54.6%), from €545,186 to €247,604
- Debts after one year -€124,632
down €124,632 (-37.5%), from €332,367 to €207,735
- Provisions +€41,029
new in 2025: €41,029
- Financial income +€153,472
up €153,472 (+973%), from €15,774 to €169,247
- Gross operating margin +€56,643
up €56,643 (+15.3%), from €371,359 to €428,002
- Provisions +€41,029
new in 2025: €41,029
- Taxes +€32,947
up €32,947 (+86.2%), from €38,229 to €71,176
- Financial charges +€4,692
up €4,692 (+58.3%), from €8,048 to €12,740
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,668,301 | €1,281,516 | -€386,786 | -23.2% |
| Fixed assets | 21/28 | €244,963 | €243,060 | -€1,903 | -0.8% |
| Tangible fixed assets | 22/27 | €244,963 | €243,060 | -€1,903 | -0.8% |
| Land and buildings | 22 | €241,433 | €240,000 | -€1,433 | -0.6% |
| Plant, machinery and equipment | 23 | €3,530 | €3,060 | -€470 | -13.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €1,423,338 | €1,038,456 | -€384,883 | -27.0% |
| Amounts receivable after more than one year | 29 | €714,976 | €530,187 | -€184,789 | -25.8% |
| Other amounts receivable | 291 | €714,976 | €530,187 | -€184,789 | -25.8% |
| Amounts receivable within one year | 40/41 | €211,375 | €69,543 | -€141,831 | -67.1% |
| Trade receivables | 40 | €39,971 | €41,875 | +€1,904 | +4.8% |
| Other amounts receivable | 41 | €171,404 | €27,668 | -€143,735 | -83.9% |
| Current investments | 50/53 | €450,000 | €391,898 | -€58,102 | -12.9% |
| Cash at bank and in hand | 54/58 | €36,680 | €17,095 | -€19,585 | -53.4% |
| Deferred charges and accrued income | 490/1 | €10,308 | €29,733 | +€19,425 | +188% |
| Total equity and liabilities | 10/49 | €1,668,301 | €1,281,516 | -€386,786 | -23.2% |
| Equity | 10/15 | €675,182 | €683,306 | +€8,124 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €656,582 | €664,706 | +€8,124 | +1.2% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €654,082 | €662,206 | +€8,124 | +1.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €41,029 | +€41,029 | |
| Provisions for liabilities and charges | 160/5 | - | €41,029 | +€41,029 | |
| Environmental obligations | 163 | - | €29,000 | +€29,000 | |
| Other liabilities and charges | 164/5 | - | €12,029 | +€12,029 | |
| Amounts payable | 17/49 | €993,119 | €557,181 | -€435,939 | -43.9% |
| Amounts payable after more than one year | 17 | €332,367 | €207,735 | -€124,632 | -37.5% |
| Financial debts | 170/4 | €332,367 | €207,735 | -€124,632 | -37.5% |
| Amounts payable within one year | 42/48 | €660,752 | €349,445 | -€311,307 | -47.1% |
| Current portion of amounts payable after more than one year | 42 | €69,988 | €70,880 | +€892 | +1.3% |
| Financial debts | 43 | - | €2,528 | +€2,528 | |
| Credit institutions | 430/8 | - | €2,528 | +€2,528 | |
| Trade debts | 44 | €7,263 | €0 | -€7,263 | -100% |
| Suppliers | 440/4 | €7,263 | €0 | -€7,263 | -100% |
| Taxes, remuneration and social security | 45 | €38,315 | €28,433 | -€9,882 | -25.8% |
| Taxes | 450/3 | €38,315 | €28,433 | -€9,882 | -25.8% |
| Other amounts payable | 47/48 | €545,186 | €247,604 | -€297,581 | -54.6% |
| Remuneration, social security and pensions | 62 | - | €816 | +€816 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,226 | €2,835 | +€609 | +27.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €41,029 | +€41,029 | |
| Other operating charges | 640/8 | €1,756 | €4,711 | +€2,955 | +168% |
| Gross operating margin | 9900 | €371,359 | €428,002 | +€56,643 | +15.3% |
| Operating profit (loss) | 9901 | €367,378 | €378,611 | +€11,234 | +3.1% |
| Financial income | 75/76B | €15,774 | €169,247 | +€153,472 | +973% |
| Recurring financial income | 75 | €15,774 | €169,247 | +€153,472 | +973% |
| Financial charges | 65/66B | €8,048 | €12,740 | +€4,692 | +58.3% |
| Recurring financial charges | 65 | €8,048 | €12,740 | +€4,692 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | €375,104 | €535,119 | +€160,014 | +42.7% |
| Income taxes | 67/77 | €38,229 | €71,176 | +€32,947 | +86.2% |
| Profit (loss) for the period | 9904 | €336,876 | €463,943 | +€127,067 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €336,876 | €463,943 | +€127,067 | +37.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.