MANIZ: 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.
MANIZ
Largest movements
- Stocks and contracts -€592,155
down €592,155 (-51.4%), from €1.2m to €560,061
- Cash +€200,572
up €200,572 (+1,299%), from €15,440 to €216,012
mainly Stocks and contracts (+€592,155) and Other debts (+€353,809)
- Receivables within one year -€30,297
down €30,297 (-99.8%), from €30,344 to €47
of which Trade receivables: -€29,405
- Tangible fixed assets -€13,804
down €13,804 (-20.3%), from €68,013 to €54,208
of which Furniture and vehicles: -€13,804
- Short-term financial debts -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Other debts +€353,809
up €353,809 (+669%), from €52,904 to €406,713
- Tax, wage and social debts +€159,124
up €159,124 (+1,494%), from €10,653 to €169,777
of which Taxes: +€159,124
- Reserves +€66,156
up €66,156 (+52.8%), from €125,192 to €191,347
- Gross operating margin +€64,473
up €64,473 (+76.4%), from €84,405 to €148,879
- Taxes +€21,936
up €21,936 (+442%), from €4,962 to €26,897
- Financial charges -€13,333
down €13,333 (-26.6%), from €50,209 to €36,875
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 | €1,272,587 | €836,324 | -€436,264 | -34.3% |
| Fixed assets | 21/28 | €68,013 | €54,208 | -€13,804 | -20.3% |
| Tangible fixed assets | 22/27 | €68,013 | €54,208 | -€13,804 | -20.3% |
| Furniture and vehicles | 24 | €58,353 | €44,549 | -€13,804 | -23.7% |
| Other tangible fixed assets | 26 | €9,659 | €9,659 | = | 0.0% |
| Current assets | 29/58 | €1,204,575 | €782,115 | -€422,459 | -35.1% |
| Stocks and contracts in progress | 3 | €1,152,216 | €560,061 | -€592,155 | -51.4% |
| Stocks | 30/36 | €1,152,216 | €560,061 | -€592,155 | -51.4% |
| Amounts receivable within one year | 40/41 | €30,344 | €47 | -€30,297 | -99.8% |
| Trade receivables | 40 | €29,405 | €0 | -€29,405 | -100% |
| Other amounts receivable | 41 | €939 | €47 | -€892 | -95.0% |
| Cash at bank and in hand | 54/58 | €15,440 | €216,012 | +€200,572 | +1,299% |
| Deferred charges and accrued income | 490/1 | €6,574 | €5,995 | -€579 | -8.8% |
| Total equity and liabilities | 10/49 | €1,272,587 | €836,324 | -€436,264 | -34.3% |
| Equity | 10/15 | €132,692 | €198,847 | +€66,156 | +49.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €125,192 | €191,347 | +€66,156 | +52.8% |
| Distributable reserves | 133 | €125,192 | €191,347 | +€66,156 | +52.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €21,677 | €21,677 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €21,677 | €21,677 | = | 0.0% |
| Pensions and similar obligations | 160 | €21,677 | €21,677 | = | 0.0% |
| Amounts payable | 17/49 | €1,118,219 | €615,799 | -€502,419 | -44.9% |
| Amounts payable after more than one year | 17 | €33,319 | €21,692 | -€11,627 | -34.9% |
| Financial debts | 170/4 | €33,319 | €21,692 | -€11,627 | -34.9% |
| Amounts payable within one year | 42/48 | €1,083,002 | €594,107 | -€488,896 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €11,099 | €11,627 | +€528 | +4.8% |
| Financial debts | 43 | €1,000,000 | €0 | -€1.0m | -100% |
| Credit institutions | 430/8 | €1,000,000 | €0 | -€1.0m | -100% |
| Trade debts | 44 | €8,347 | €5,990 | -€2,357 | -28.2% |
| Suppliers | 440/4 | €8,347 | €5,990 | -€2,357 | -28.2% |
| Taxes, remuneration and social security | 45 | €10,653 | €169,777 | +€159,124 | +1,494% |
| Taxes | 450/3 | €8,432 | €167,556 | +€159,124 | +1,887% |
| Remuneration and social security | 454/9 | €2,221 | €2,221 | = | 0.0% |
| Other amounts payable | 47/48 | €52,904 | €406,713 | +€353,809 | +669% |
| Accrued charges and deferred income | 492/3 | €1,897 | €0 | -€1,897 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,906 | €16,269 | +€1,363 | +9.1% |
| Other operating charges | 640/8 | €1,885 | €1,849 | -€36 | -1.9% |
| Non-recurring operating charges | 66A | €211 | €0 | -€211 | -100% |
| Gross operating margin | 9900 | €84,405 | €148,879 | +€64,473 | +76.4% |
| Operating profit (loss) | 9901 | €67,403 | €130,760 | +€63,357 | +94.0% |
| Financial income | 75/76B | €30 | €1 | -€29 | -96.7% |
| Recurring financial income | 75 | €30 | €1 | -€29 | -96.7% |
| Financial charges | 65/66B | €50,209 | €36,875 | -€13,333 | -26.6% |
| Recurring financial charges | 65 | €50,209 | €36,875 | -€13,333 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €17,224 | €93,886 | +€76,661 | +445% |
| Income taxes | 67/77 | €4,962 | €26,897 | +€21,936 | +442% |
| Profit (loss) for the period | 9904 | €12,263 | €66,989 | +€54,726 | +446% |
| Profit (loss) for the period to be appropriated | 9905 | €12,263 | €66,989 | +€54,726 | +446% |
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.