MANLU: what changed
MANLU
Largest movements
- Cash +€312,983
up €312,983 (+48.8%), from €641,272 to €954,255
mainly Net result for the year (+€152,865) and Receivables within one year (+€141,613)
- Receivables within one year -€141,613
down €141,613 (-50.0%), from €283,479 to €141,866
of which Trade receivables: -€78,180
- Reserves +€152,865
up €152,865 (+11.6%), from €1.3m to €1.5m
of which Distributable reserves: +€152,865
- Tax, wage and social debts +€18,504
up €18,504 (+142%), from €13,065 to €31,569
- Gross operating margin +€69,465
up €69,465 (+47.0%), from €147,910 to €217,375
- Taxes +€18,211
up €18,211 (+34.5%), from €52,756 to €70,967
- Financial income +€3,107
up €3,107 (+61.4%), from €5,056 to €8,163
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,353,583 | €1,524,953 | +€171,369 | +12.7% |
| Fixed assets | 21/28 | €428,832 | €428,832 | = | 0.0% |
| Financial fixed assets | 28 | €428,832 | €428,832 | = | 0.0% |
| Current assets | 29/58 | €924,751 | €1,096,121 | +€171,369 | +18.5% |
| Amounts receivable within one year | 40/41 | €283,479 | €141,866 | -€141,613 | -50.0% |
| Trade receivables | 40 | €84,941 | €6,761 | -€78,180 | -92.0% |
| Other amounts receivable | 41 | €198,538 | €135,105 | -€63,433 | -32.0% |
| Cash at bank and in hand | 54/58 | €641,272 | €954,255 | +€312,983 | +48.8% |
| Total equity and liabilities | 10/49 | €1,353,583 | €1,524,953 | +€171,369 | +12.7% |
| Equity | 10/15 | €1,340,519 | €1,493,384 | +€152,865 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,321,135 | €1,474,001 | +€152,865 | +11.6% |
| 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 | €1,319,275 | €1,472,141 | +€152,865 | +11.6% |
| Profit (loss) carried forward | 14 | €783 | €783 | = | 0.0% |
| Amounts payable | 17/49 | €13,065 | €31,569 | +€18,504 | +142% |
| Amounts payable within one year | 42/48 | €13,065 | €31,569 | +€18,504 | +142% |
| Taxes, remuneration and social security | 45 | €13,065 | €31,569 | +€18,504 | +142% |
| Taxes | 450/3 | €13,065 | €31,569 | +€18,504 | +142% |
| Other operating charges | 640/8 | €387 | €1,068 | +€680 | +176% |
| Gross operating margin | 9900 | €147,910 | €217,375 | +€69,465 | +47.0% |
| Operating profit (loss) | 9901 | €147,523 | €216,307 | +€68,785 | +46.6% |
| Financial income | 75/76B | €5,056 | €8,163 | +€3,107 | +61.4% |
| Recurring financial income | 75 | €5,056 | €8,163 | +€3,107 | +61.4% |
| Financial charges | 65/66B | €665 | €638 | -€27 | -4.1% |
| Recurring financial charges | 65 | €665 | €638 | -€27 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €151,914 | €223,833 | +€71,919 | +47.3% |
| Income taxes | 67/77 | €52,756 | €70,967 | +€18,211 | +34.5% |
| Profit (loss) for the period | 9904 | €99,158 | €152,865 | +€53,708 | +54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €99,158 | €152,865 | +€53,708 | +54.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.