MANIVITH: 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.
MANIVITH
Largest movements
- Tangible fixed assets -€39,111
down €39,111 (-3.3%), from €1.2m to €1.1m
of which Land and buildings: -€44,008
- Receivables within one year -€20,021
down €20,021 (-73.8%), from €27,142 to €7,121
of which Trade receivables: -€20,090
- Debts after one year -€41,090
down €41,090 (-3.7%), from €1.1m to €1.1m
of which Financial debts: -€41,090
- Accrued charges and deferred income -€13,083
down €13,083 (-87.3%), from €14,993 to €1,910
- Financial charges -€12,265
down €12,265 (-24.7%), from €49,712 to €37,447
- Financial income -€4,069
down €4,069 (-99.3%), from €4,099 to €31
- Gross operating margin +€3,674
up €3,674 (+4.4%), from €84,429 to €88,103
- Taxes -€995
down €995 (-100%), from €995 to €0
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 | €1,212,128 | €1,152,675 | -€59,453 | -4.9% |
| Fixed assets | 21/28 | €1,181,814 | €1,142,703 | -€39,111 | -3.3% |
| Tangible fixed assets | 22/27 | €1,181,814 | €1,142,703 | -€39,111 | -3.3% |
| Land and buildings | 22 | €1,179,407 | €1,135,400 | -€44,008 | -3.7% |
| Plant, machinery and equipment | 23 | €2,406 | €7,303 | +€4,897 | +203% |
| Current assets | 29/58 | €30,314 | €9,972 | -€20,342 | -67.1% |
| Amounts receivable within one year | 40/41 | €27,142 | €7,121 | -€20,021 | -73.8% |
| Trade receivables | 40 | €21,098 | €1,008 | -€20,090 | -95.2% |
| Other amounts receivable | 41 | €6,044 | €6,113 | +€70 | +1.2% |
| Cash at bank and in hand | 54/58 | €2,212 | €2,851 | +€639 | +28.9% |
| Deferred charges and accrued income | 490/1 | €960 | €0 | -€960 | -100% |
| Total equity and liabilities | 10/49 | €1,212,128 | €1,152,675 | -€59,453 | -4.9% |
| Equity | 10/15 | €39,595 | €38,265 | -€1,330 | -3.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,405 | -€11,735 | -€1,330 | -12.8% |
| Amounts payable | 17/49 | €1,172,533 | €1,114,410 | -€58,122 | -5.0% |
| Amounts payable after more than one year | 17 | €1,097,302 | €1,056,212 | -€41,090 | -3.7% |
| Financial debts | 170/4 | €1,036,819 | €995,729 | -€41,090 | -4.0% |
| Other amounts payable | 178/9 | €60,483 | €60,483 | = | 0.0% |
| Amounts payable within one year | 42/48 | €60,238 | €56,288 | -€3,949 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €44,691 | €46,228 | +€1,536 | +3.4% |
| Trade debts | 44 | €6,681 | €1,160 | -€5,521 | -82.6% |
| Suppliers | 440/4 | €6,681 | €1,160 | -€5,521 | -82.6% |
| Taxes, remuneration and social security | 45 | €1,824 | €1,295 | -€530 | -29.0% |
| Taxes | 450/3 | €1,824 | €1,295 | -€530 | -29.0% |
| Other amounts payable | 47/48 | €7,041 | €7,606 | +€565 | +8.0% |
| Accrued charges and deferred income | 492/3 | €14,993 | €1,910 | -€13,083 | -87.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,752 | €45,036 | +€285 | +0.6% |
| Other operating charges | 640/8 | €7,378 | €6,980 | -€398 | -5.4% |
| Gross operating margin | 9900 | €84,429 | €88,103 | +€3,674 | +4.4% |
| Operating profit (loss) | 9901 | €32,299 | €36,086 | +€3,788 | +11.7% |
| Financial income | 75/76B | €4,099 | €31 | -€4,069 | -99.3% |
| Recurring financial income | 75 | €4,099 | €31 | -€4,069 | -99.3% |
| Financial charges | 65/66B | €49,712 | €37,447 | -€12,265 | -24.7% |
| Recurring financial charges | 65 | €49,712 | €37,447 | -€12,265 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,314 | -€1,330 | +€11,984 | +90.0% |
| Income taxes | 67/77 | €995 | €0 | -€995 | -100% |
| Profit (loss) for the period | 9904 | -€14,309 | -€1,330 | +€12,979 | +90.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,309 | -€1,330 | +€12,979 | +90.7% |
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 15 October 2026 via checked.be.