MANITOR: 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.
MANITOR
Largest movements
- Stocks and contracts +€82,215
up €82,215 (+61.9%), from €132,894 to €215,109
- Receivables within one year +€74,923
up €74,923 (+92.3%), from €81,201 to €156,124
- Cash -€25,425
down €25,425 (-65.2%), from €38,973 to €13,548
mainly Stocks and contracts (-€82,215) and Receivables within one year (-€74,923)
- Trade debts +€132,606
up €132,606 (+107.9%), from €122,934 to €255,539
- Tax, wage and social debts +€50,881
up €50,881 (+116.2%), from €43,775 to €94,656
of which Taxes: +€30,025
- Profit (loss) carried forward -€47,920
down €47,920 (-45.5%), from €105,298 to €57,378
- Other debts -€8,062
down €8,062 (-32.2%), from €25,000 to €16,938
- Staff costs +€113,389
up €113,389 (+32.1%), from €353,029 to €466,418
- Gross operating margin +€39,011
up €39,011 (+9.5%), from €410,594 to €449,605
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 | €317,467 | €444,972 | +€127,505 | +40.2% |
| Fixed assets | 21/28 | €64,399 | €60,190 | -€4,208 | -6.5% |
| Tangible fixed assets | 22/27 | €64,349 | €60,140 | -€4,208 | -6.5% |
| Plant, machinery and equipment | 23 | €46,918 | €36,778 | -€10,140 | -21.6% |
| Furniture and vehicles | 24 | €17,431 | €23,362 | +€5,931 | +34.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €253,068 | €384,781 | +€131,713 | +52.0% |
| Stocks and contracts in progress | 3 | €132,894 | €215,109 | +€82,215 | +61.9% |
| Stocks | 30/36 | €132,894 | €215,109 | +€82,215 | +61.9% |
| Amounts receivable within one year | 40/41 | €81,201 | €156,124 | +€74,923 | +92.3% |
| Trade receivables | 40 | €81,201 | €156,124 | +€74,923 | +92.3% |
| Cash at bank and in hand | 54/58 | €38,973 | €13,548 | -€25,425 | -65.2% |
| Total equity and liabilities | 10/49 | €317,467 | €444,972 | +€127,505 | +40.2% |
| Equity | 10/15 | €125,758 | €77,838 | -€47,920 | -38.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,298 | €57,378 | -€47,920 | -45.5% |
| Amounts payable | 17/49 | €191,709 | €367,134 | +€175,425 | +91.5% |
| Amounts payable within one year | 42/48 | €191,709 | €367,134 | +€175,425 | +91.5% |
| Trade debts | 44 | €122,934 | €255,539 | +€132,606 | +107.9% |
| Suppliers | 440/4 | €122,934 | €255,539 | +€132,606 | +107.9% |
| Taxes, remuneration and social security | 45 | €43,775 | €94,656 | +€50,881 | +116.2% |
| Taxes | 450/3 | €15,307 | €45,332 | +€30,025 | +196.2% |
| Remuneration and social security | 454/9 | €28,469 | €49,324 | +€20,856 | +73.3% |
| Other amounts payable | 47/48 | €25,000 | €16,938 | -€8,062 | -32.2% |
| Remuneration, social security and pensions | 62 | €353,029 | €466,418 | +€113,389 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,710 | €20,383 | -€2,326 | -10.2% |
| Other operating charges | 640/8 | €840 | €2,426 | +€1,585 | +188.7% |
| Non-recurring operating charges | 66A | €689 | - | -€689 | |
| Gross operating margin | 9900 | €410,594 | €449,605 | +€39,011 | +9.5% |
| Operating profit (loss) | 9901 | €33,326 | -€39,622 | -€72,949 | |
| Financial income | 75/76B | €742 | €610 | -€132 | -17.8% |
| Recurring financial income | 75 | €742 | €610 | -€132 | -17.8% |
| Financial charges | 65/66B | €7,936 | €8,726 | +€790 | +10.0% |
| Recurring financial charges | 65 | €7,936 | €8,726 | +€790 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €26,133 | -€47,738 | -€73,871 | |
| Income taxes | 67/77 | €199 | €182 | -€16 | -8.2% |
| Profit (loss) for the period | 9904 | €25,934 | -€47,920 | -€73,855 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,934 | -€47,920 | -€73,855 |
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 4 October 2026 via checked.be.