Manlet Capital: 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.
Manlet Capital
Largest movements
- Financial fixed assets +€235,000
new in 2025: €235,000
- Current investments +€99,917
new in 2025: €99,917
- Cash +€52,975
up €52,975 (+597%), from €8,877 to €61,852
mainly Net result for the year (+€273,414) and Tax, wage and social debts (+€100,294)
- Receivables within one year -€19,742
down €19,742 (-60.5%), from €32,654 to €12,912
of which Trade receivables: -€32,654
- Receivables after one year +€8,000
up €8,000 (+27.3%), from €29,300 to €37,300
- Profit (loss) carried forward +€273,414
up €273,414 (+537%), from €50,956 to €324,370
- Tax, wage and social debts +€100,294
up €100,294 (+444%), from €22,594 to €122,888
- Gross operating margin +€302,568
up €302,568 (+464%), from €65,269 to €367,836
- Taxes +€80,243
up €80,243 (+619%), from €12,960 to €93,203
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 | €74,054 | €452,867 | +€378,813 | +512% |
| Fixed assets | 21/28 | €2,325 | €237,629 | +€235,304 | +10,121% |
| Tangible fixed assets | 22/27 | €2,325 | €2,629 | +€304 | +13.1% |
| Furniture and vehicles | 24 | €2,325 | €2,629 | +€304 | +13.1% |
| Financial fixed assets | 28 | - | €235,000 | +€235,000 | |
| Current assets | 29/58 | €71,729 | €215,237 | +€143,508 | +200% |
| Amounts receivable after more than one year | 29 | €29,300 | €37,300 | +€8,000 | +27.3% |
| Other amounts receivable | 291 | €29,300 | €37,300 | +€8,000 | +27.3% |
| Amounts receivable within one year | 40/41 | €32,654 | €12,912 | -€19,742 | -60.5% |
| Trade receivables | 40 | €32,654 | - | -€32,654 | |
| Other amounts receivable | 41 | - | €12,912 | +€12,912 | |
| Current investments | 50/53 | - | €99,917 | +€99,917 | |
| Cash at bank and in hand | 54/58 | €8,877 | €61,852 | +€52,975 | +597% |
| Deferred charges and accrued income | 490/1 | €897 | €3,255 | +€2,358 | +263% |
| Total equity and liabilities | 10/49 | €74,054 | €452,867 | +€378,813 | +512% |
| Equity | 10/15 | €50,956 | €327,370 | +€276,414 | +542% |
| Contributions | 10/11 | - | €3,000 | +€3,000 | |
| Profit (loss) carried forward | 14 | €50,956 | €324,370 | +€273,414 | +537% |
| Amounts payable | 17/49 | €23,098 | €125,497 | +€102,398 | +443% |
| Amounts payable within one year | 42/48 | €23,098 | €125,497 | +€102,398 | +443% |
| Trade debts | 44 | €300 | €2,608 | +€2,308 | +768% |
| Suppliers | 440/4 | €300 | €2,608 | +€2,308 | +768% |
| Taxes, remuneration and social security | 45 | €22,594 | €122,888 | +€100,294 | +444% |
| Taxes | 450/3 | €22,594 | €122,888 | +€100,294 | +444% |
| Other amounts payable | 47/48 | €204 | - | -€204 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €351 | €714 | +€363 | +103% |
| Other operating charges | 640/8 | €256 | €385 | +€129 | +50.7% |
| Non-recurring operating charges | 66A | - | €1,032 | +€1,032 | |
| Gross operating margin | 9900 | €65,269 | €367,836 | +€302,568 | +464% |
| Operating profit (loss) | 9901 | €64,662 | €365,705 | +€301,043 | +466% |
| Financial income | 75/76B | €431 | €1,879 | +€1,448 | +336% |
| Recurring financial income | 75 | €431 | €1,879 | +€1,448 | +336% |
| Financial charges | 65/66B | €1,177 | €967 | -€209 | -17.8% |
| Recurring financial charges | 65 | €1,177 | €967 | -€209 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €63,916 | €366,617 | +€302,701 | +474% |
| Income taxes | 67/77 | €12,960 | €93,203 | +€80,243 | +619% |
| Profit (loss) for the period | 9904 | €50,956 | €273,414 | +€222,458 | +437% |
| Profit (loss) for the period to be appropriated | 9905 | €50,956 | €273,414 | +€222,458 | +437% |
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 23 October 2026 via checked.be.