ManKap: 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.
ManKap
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Cash -€194,987
down €194,987 (-66.7%), from €292,170 to €97,183
mainly Current investments (-€200,000) and Contributions, distributions and other (-€177,605)
- Tangible fixed assets -€52,252
down €52,252 (-81.7%), from €63,951 to €11,700
of which Land and buildings: -€45,597
- Receivables within one year -€10,380
down €10,380 (-32.5%), from €31,942 to €21,562
of which Trade receivables: -€5,711
- Reserves -€173,052
down €173,052 (-62.6%), from €276,573 to €103,520
of which Distributable reserves: -€173,052
- Other debts +€167,654
up €167,654 (+15654.7%), from €1,071 to €168,725
- Debts after one year -€55,682
down €55,682 (-63.2%), from €88,088 to €32,406
- Gross operating margin -€17,253
down €17,253 (-43.7%), from €39,473 to €22,220
- Depreciation -€5,323
down €5,323 (-44.4%), from €11,977 to €6,654
- Financial charges -€4,404
down €4,404 (-53.9%), from €8,168 to €3,763
- Taxes -€2,827
down €2,827 (-45.9%), from €6,156 to €3,329
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 | €391,564 | €333,220 | -€58,344 | -14.9% |
| Fixed assets | 21/28 | €63,951 | €11,700 | -€52,252 | -81.7% |
| Tangible fixed assets | 22/27 | €63,951 | €11,700 | -€52,252 | -81.7% |
| Land and buildings | 22 | €45,597 | €0 | -€45,597 | -100.0% |
| Plant, machinery and equipment | 23 | €6,763 | €5,005 | -€1,758 | -26.0% |
| Furniture and vehicles | 24 | €11,591 | €6,694 | -€4,897 | -42.2% |
| Current assets | 29/58 | €327,613 | €321,521 | -€6,092 | -1.9% |
| Amounts receivable within one year | 40/41 | €31,942 | €21,562 | -€10,380 | -32.5% |
| Trade receivables | 40 | €22,990 | €17,279 | -€5,711 | -24.8% |
| Other amounts receivable | 41 | €8,952 | €4,283 | -€4,669 | -52.2% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €292,170 | €97,183 | -€194,987 | -66.7% |
| Deferred charges and accrued income | 490/1 | €3,501 | €2,776 | -€725 | -20.7% |
| Total equity and liabilities | 10/49 | €391,564 | €333,220 | -€58,344 | -14.9% |
| Equity | 10/15 | €282,773 | €109,720 | -€173,052 | -61.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €276,573 | €103,520 | -€173,052 | -62.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €276,573 | €103,520 | -€173,052 | -62.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €108,792 | €223,500 | +€114,708 | +105.4% |
| Amounts payable after more than one year | 17 | €88,088 | €32,406 | -€55,682 | -63.2% |
| Other amounts payable | 178/9 | €88,088 | €32,406 | -€55,682 | -63.2% |
| Amounts payable within one year | 42/48 | €20,320 | €190,710 | +€170,391 | +838.6% |
| Financial debts | 43 | €1,704 | €220 | -€1,484 | -87.1% |
| Credit institutions | 430/8 | €1,704 | €220 | -€1,484 | -87.1% |
| Trade debts | 44 | €2,137 | €4,801 | +€2,664 | +124.7% |
| Suppliers | 440/4 | €2,137 | €4,801 | +€2,664 | +124.7% |
| Taxes, remuneration and social security | 45 | €15,408 | €16,964 | +€1,556 | +10.1% |
| Taxes | 450/3 | €11,408 | €13,464 | +€2,056 | +18.0% |
| Remuneration and social security | 454/9 | €4,000 | €3,500 | -€500 | -12.5% |
| Other amounts payable | 47/48 | €1,071 | €168,725 | +€167,654 | +15654.7% |
| Accrued charges and deferred income | 492/3 | €384 | €384 | = | 0.0% |
| Non-recurring operating income | 76A | €10,000 | €4,403 | -€5,597 | -56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,977 | €6,654 | -€5,323 | -44.4% |
| Other operating charges | 640/8 | €4,473 | €4,089 | -€384 | -8.6% |
| Gross operating margin | 9900 | €39,473 | €22,220 | -€17,253 | -43.7% |
| Operating profit (loss) | 9901 | €23,023 | €11,477 | -€11,546 | -50.2% |
| Financial income | 75/76B | €1 | €168 | +€167 | +32827.5% |
| Recurring financial income | 75 | €1 | €168 | +€167 | +32827.5% |
| Financial charges | 65/66B | €8,168 | €3,763 | -€4,404 | -53.9% |
| Recurring financial charges | 65 | €8,168 | €3,763 | -€4,404 | -53.9% |
| Profit (loss) for the period before taxes | 9903 | €14,856 | €7,882 | -€6,974 | -46.9% |
| Income taxes | 67/77 | €6,156 | €3,329 | -€2,827 | -45.9% |
| Profit (loss) for the period | 9904 | €8,700 | €4,552 | -€4,147 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,700 | €4,552 | -€4,147 | -47.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.