MANJUSRI: 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.
MANJUSRI
Largest movements
- Cash +€28,772
up €28,772 (+9.6%), from €298,589 to €327,361
mainly Net result for the year (+€69,678) and Depreciation (+€1,360)
- Reserves +€26,392
up €26,392 (+9.1%), from €288,634 to €315,026
- Gross operating margin +€14,301
up €14,301 (+17.5%), from €81,497 to €95,798
- Taxes +€4,082
up €4,082 (+18.2%), from €22,449 to €26,531
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 | €329,387 | €356,245 | +€26,858 | +8.2% |
| Fixed assets | 21/28 | €2,984 | €1,624 | -€1,360 | -45.6% |
| Tangible fixed assets | 22/27 | €2,984 | €1,624 | -€1,360 | -45.6% |
| Plant, machinery and equipment | 23 | €2,515 | €1,272 | -€1,243 | -49.4% |
| Furniture and vehicles | 24 | €469 | €352 | -€117 | -25.0% |
| Current assets | 29/58 | €326,403 | €354,622 | +€28,219 | +8.6% |
| Amounts receivable within one year | 40/41 | €27,528 | €27,225 | -€303 | -1.1% |
| Trade receivables | 40 | €27,528 | €27,225 | -€303 | -1.1% |
| Cash at bank and in hand | 54/58 | €298,589 | €327,361 | +€28,772 | +9.6% |
| Deferred charges and accrued income | 490/1 | €287 | €36 | -€251 | -87.5% |
| Total equity and liabilities | 10/49 | €329,387 | €356,245 | +€26,858 | +8.2% |
| Equity | 10/15 | €307,234 | €333,626 | +€26,392 | +8.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €288,634 | €315,026 | +€26,392 | +9.1% |
| Distributable reserves | 133 | €288,634 | €315,026 | +€26,392 | +9.1% |
| Amounts payable | 17/49 | €22,154 | €22,620 | +€466 | +2.1% |
| Amounts payable within one year | 42/48 | €22,154 | €22,620 | +€466 | +2.1% |
| Trade debts | 44 | €1,220 | €970 | -€250 | -20.5% |
| Suppliers | 440/4 | €1,220 | €970 | -€250 | -20.5% |
| Taxes, remuneration and social security | 45 | €14,959 | €15,395 | +€436 | +2.9% |
| Taxes | 450/3 | €14,959 | €15,395 | +€436 | +2.9% |
| Other amounts payable | 47/48 | €5,975 | €6,255 | +€280 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,249 | €1,360 | +€112 | +8.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €81,497 | €95,798 | +€14,301 | +17.5% |
| Operating profit (loss) | 9901 | €79,861 | €94,038 | +€14,177 | +17.8% |
| Financial income | 75/76B | €1,675 | €2,348 | +€673 | +40.2% |
| Recurring financial income | 75 | €1,675 | €2,348 | +€673 | +40.2% |
| Financial charges | 65/66B | €156 | €177 | +€21 | +13.3% |
| Recurring financial charges | 65 | €156 | €177 | +€21 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €81,380 | €96,208 | +€14,829 | +18.2% |
| Income taxes | 67/77 | €22,449 | €26,531 | +€4,082 | +18.2% |
| Profit (loss) for the period | 9904 | €58,931 | €69,678 | +€10,747 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,931 | €69,678 | +€10,747 | +18.2% |
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 7 October 2026 via checked.be.