MANJEET: 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.
MANJEET
Largest movements
- Stocks and contracts +€12,599
up €12,599 (+29.2%), from €43,212 to €55,810
- Cash +€3,471
up €3,471 (+40.1%), from €8,649 to €12,120
mainly Trade debts (+€8,821) and Net result for the year (+€6,639)
- Receivables within one year -€1,146
down €1,146 (-56.2%), from €2,039 to €893
- Tangible fixed assets -€903
down €903 (-28.0%), from €3,222 to €2,319
- Trade debts +€8,821
up €8,821 (+48.3%), from €18,249 to €27,071
- Reserves +€4,973
up €4,973 (+70.0%), from €7,108 to €12,081
of which Distributable reserves: +€4,973
- Tax, wage and social debts +€1,968
new in 2025: €1,968
- Other debts -€1,671
down €1,671 (-12.7%), from €13,164 to €11,493
- Gross operating margin +€5,335
up €5,335 (+31.7%), from €16,843 to €22,178
- Other operating charges -€4,820
down €4,820 (-33.9%), from €14,206 to €9,387
- Taxes +€1,111
up €1,111 (+184%), from €604 to €1,716
- Financial charges -€568
down €568 (-13.8%), from €4,101 to €3,534
- Depreciation +€486
up €486 (+117%), from €417 to €903
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 | €57,121 | €71,212 | +€14,091 | +24.7% |
| Fixed assets | 21/28 | €3,222 | €2,319 | -€903 | -28.0% |
| Tangible fixed assets | 22/27 | €3,222 | €2,319 | -€903 | -28.0% |
| Land and buildings | 22 | €3,222 | €2,319 | -€903 | -28.0% |
| Current assets | 29/58 | €53,899 | €68,894 | +€14,994 | +27.8% |
| Stocks and contracts in progress | 3 | €43,212 | €55,810 | +€12,599 | +29.2% |
| Stocks | 30/36 | €43,212 | €55,810 | +€12,599 | +29.2% |
| Amounts receivable within one year | 40/41 | €2,039 | €893 | -€1,146 | -56.2% |
| Other amounts receivable | 41 | €2,039 | €893 | -€1,146 | -56.2% |
| Current investments | 50/53 | - | €71 | +€71 | |
| Cash at bank and in hand | 54/58 | €8,649 | €12,120 | +€3,471 | +40.1% |
| Total equity and liabilities | 10/49 | €57,121 | €71,212 | +€14,091 | +24.7% |
| Equity | 10/15 | €25,708 | €30,681 | +€4,973 | +19.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,108 | €12,081 | +€4,973 | +70.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,248 | €10,221 | +€4,973 | +94.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €31,413 | €40,532 | +€9,118 | +29.0% |
| Amounts payable within one year | 42/48 | €31,413 | €40,532 | +€9,118 | +29.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €18,249 | €27,071 | +€8,821 | +48.3% |
| Suppliers | 440/4 | €18,249 | €27,071 | +€8,821 | +48.3% |
| Taxes, remuneration and social security | 45 | - | €1,968 | +€1,968 | |
| Taxes | 450/3 | - | €1,968 | +€1,968 | |
| Other amounts payable | 47/48 | €13,164 | €11,493 | -€1,671 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417 | €903 | +€486 | +117% |
| Other operating charges | 640/8 | €14,206 | €9,387 | -€4,820 | -33.9% |
| Gross operating margin | 9900 | €16,843 | €22,178 | +€5,335 | +31.7% |
| Operating profit (loss) | 9901 | €2,219 | €11,888 | +€9,669 | +436% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €4,101 | €3,534 | -€568 | -13.8% |
| Recurring financial charges | 65 | €4,101 | €3,534 | -€568 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,882 | €8,355 | +€10,237 | |
| Income taxes | 67/77 | €604 | €1,716 | +€1,111 | +184% |
| Profit (loss) for the period | 9904 | -€2,486 | €6,639 | +€9,125 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,486 | €6,639 | +€9,125 |
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.