MANIREX: 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.
MANIREX
Largest movements
- Receivables within one year -€9,428
down €9,428 (-77.0%), from €12,251 to €2,823
of which Trade receivables: -€8,305
- Tangible fixed assets +€961
up €961 (+154%), from €622 to €1,583
- Cash +€854
up €854 (+8.5%), from €10,052 to €10,906
mainly Receivables within one year (+€9,428) and Depreciation (+€820)
- Profit (loss) carried forward -€4,265
down €4,265, from €1 to -€4,265
- Other debts -€2,835
no longer reported in 2025 (was €2,835)
- Tax, wage and social debts -€823
no longer reported in 2025 (was €823)
- Trade debts +€399
new in 2025: €399
- Gross operating margin -€7,492
down €7,492, from €4,385 to -€3,107
- Taxes -€823
no longer reported in 2025 (was €823)
- Depreciation +€437
up €437 (+114%), from €382 to €820
- Other operating charges -€106
down €106 (-18.0%), from €590 to €484
- Financial income -€102
down €102 (-33.9%), from €301 to €199
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.
Derived cash bridge
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 | €23,609 | €16,084 | -€7,525 | -31.9% |
| Fixed assets | 21/28 | €622 | €1,583 | +€961 | +154% |
| Tangible fixed assets | 22/27 | €622 | €1,583 | +€961 | +154% |
| Furniture and vehicles | 24 | €622 | €1,583 | +€961 | +154% |
| Current assets | 29/58 | €22,987 | €14,501 | -€8,486 | -36.9% |
| Amounts receivable within one year | 40/41 | €12,251 | €2,823 | -€9,428 | -77.0% |
| Trade receivables | 40 | €8,305 | - | -€8,305 | |
| Other amounts receivable | 41 | €3,946 | €2,823 | -€1,123 | -28.5% |
| Cash at bank and in hand | 54/58 | €10,052 | €10,906 | +€854 | +8.5% |
| Deferred charges and accrued income | 490/1 | €684 | €773 | +€89 | +13.0% |
| Total equity and liabilities | 10/49 | €23,609 | €16,084 | -€7,525 | -31.9% |
| Equity | 10/15 | €18,601 | €14,335 | -€4,265 | -22.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1 | -€4,265 | -€4,265 | |
| Amounts payable | 17/49 | €5,008 | €1,749 | -€3,259 | -65.1% |
| Amounts payable within one year | 42/48 | €3,658 | €399 | -€3,259 | -89.1% |
| Trade debts | 44 | - | €399 | +€399 | |
| Suppliers | 440/4 | - | €399 | +€399 | |
| Taxes, remuneration and social security | 45 | €823 | - | -€823 | |
| Taxes | 450/3 | €823 | - | -€823 | |
| Other amounts payable | 47/48 | €2,835 | - | -€2,835 | |
| Accrued charges and deferred income | 492/3 | €1,350 | €1,350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €382 | €820 | +€437 | +114% |
| Other operating charges | 640/8 | €590 | €484 | -€106 | -18.0% |
| Gross operating margin | 9900 | €4,385 | -€3,107 | -€7,492 | |
| Operating profit (loss) | 9901 | €3,412 | -€4,411 | -€7,823 | |
| Financial income | 75/76B | €301 | €199 | -€102 | -33.9% |
| Recurring financial income | 75 | €301 | €199 | -€102 | -33.9% |
| Financial charges | 65/66B | €54 | €54 | -€0 | -0.9% |
| Recurring financial charges | 65 | €54 | €54 | -€0 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €3,659 | -€4,265 | -€7,925 | |
| Income taxes | 67/77 | €823 | - | -€823 | |
| Profit (loss) for the period | 9904 | €2,836 | -€4,265 | -€7,101 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,836 | -€4,265 | -€7,101 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.