Manivo: 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.
Manivo
Largest movements
- Cash +€34,357
up €34,357 (+38.3%), from €89,718 to €124,075
mainly Net result for the year (+€39,850) and Other debts (+€5,147)
- Receivables within one year +€16,574
up €16,574 (+168%), from €9,869 to €26,443
of which Trade receivables: +€13,589
- Tangible fixed assets -€3,400
down €3,400 (-48.0%), from €7,089 to €3,689
of which Furniture and vehicles: -€3,012
- Reserves +€39,850
up €39,850 (+51.1%), from €77,942 to €117,791
- Other debts +€5,147
up €5,147 (+27.3%), from €18,840 to €23,987
- Trade debts +€2,542
up €2,542 (+49.2%), from €5,167 to €7,708
- Gross operating margin +€5,152
up €5,152 (+10.5%), from €49,267 to €54,418
- Taxes +€841
up €841 (+8.7%), from €9,622 to €10,463
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 | €106,948 | €154,486 | +€47,538 | +44.5% |
| Fixed assets | 21/28 | €7,089 | €3,689 | -€3,400 | -48.0% |
| Tangible fixed assets | 22/27 | €7,089 | €3,689 | -€3,400 | -48.0% |
| Plant, machinery and equipment | 23 | €519 | €131 | -€388 | -74.8% |
| Furniture and vehicles | 24 | €6,570 | €3,558 | -€3,012 | -45.8% |
| Current assets | 29/58 | €99,859 | €150,797 | +€50,938 | +51.0% |
| Amounts receivable within one year | 40/41 | €9,869 | €26,443 | +€16,574 | +168% |
| Trade receivables | 40 | €5,764 | €19,353 | +€13,589 | +236% |
| Other amounts receivable | 41 | €4,106 | €7,090 | +€2,985 | +72.7% |
| Cash at bank and in hand | 54/58 | €89,718 | €124,075 | +€34,357 | +38.3% |
| Deferred charges and accrued income | 490/1 | €272 | €279 | +€7 | +2.5% |
| Total equity and liabilities | 10/49 | €106,948 | €154,486 | +€47,538 | +44.5% |
| Equity | 10/15 | €82,942 | €122,791 | +€39,850 | +48.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €77,942 | €117,791 | +€39,850 | +51.1% |
| Distributable reserves | 133 | €77,942 | €117,791 | +€39,850 | +51.1% |
| Amounts payable | 17/49 | €24,006 | €31,695 | +€7,689 | +32.0% |
| Amounts payable within one year | 42/48 | €24,006 | €31,695 | +€7,689 | +32.0% |
| Trade debts | 44 | €5,167 | €7,708 | +€2,542 | +49.2% |
| Suppliers | 440/4 | €5,167 | €7,708 | +€2,542 | +49.2% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €18,840 | €23,987 | +€5,147 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,400 | €3,400 | = | 0.0% |
| Other operating charges | 640/8 | €691 | €1,035 | +€344 | +49.7% |
| Gross operating margin | 9900 | €49,267 | €54,418 | +€5,152 | +10.5% |
| Operating profit (loss) | 9901 | €45,176 | €49,984 | +€4,808 | +10.6% |
| Financial income | 75/76B | €439 | €462 | +€23 | +5.2% |
| Recurring financial income | 75 | €439 | €462 | +€23 | +5.2% |
| Financial charges | 65/66B | €106 | €133 | +€27 | +25.5% |
| Recurring financial charges | 65 | €106 | €133 | +€27 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €45,509 | €50,313 | +€4,804 | +10.6% |
| Income taxes | 67/77 | €9,622 | €10,463 | +€841 | +8.7% |
| Profit (loss) for the period | 9904 | €35,887 | €39,850 | +€3,963 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,887 | €39,850 | +€3,963 | +11.0% |
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 24 October 2026 via checked.be.