Manmaxco: 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.
Manmaxco
Largest movements
- Receivables within one year -€96,320
down €96,320 (-69.6%), from €138,299 to €41,979
of which Trade receivables: -€101,158
- Tangible fixed assets +€60,404
up €60,404 (+20.6%), from €292,557 to €352,961
of which Land and buildings: +€70,450
- Cash -€6,337
down €6,337 (-31.7%), from €19,980 to €13,643
mainly Investment in fixed assets (net) (-€81,253) and Trade debts (-€50,384)
- Trade debts -€50,384
down €50,384 (-82.5%), from €61,058 to €10,674
- Profit (loss) carried forward -€41,581
down €41,581 (-33.9%), from €122,561 to €80,980
- Debts after one year +€31,086
up €31,086 (+17.9%), from €173,800 to €204,886
- Current portion of long-term debt +€11,322
up €11,322 (+1,117%), from €1,013 to €12,335
- Gross operating margin -€33,499
down €33,499 (-64.5%), from €51,936 to €18,437
- Financial charges +€8,519
up €8,519 (+64.2%), from €13,271 to €21,790
- Taxes -€4,938
down €4,938 (-83.9%), from €5,882 to €944
- Depreciation +€1,931
up €1,931 (+10.2%), from €18,918 to €20,849
- Other operating charges -€1,923
down €1,923 (-72.0%), from €2,670 to €746
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 | €464,805 | €422,859 | -€41,947 | -9.0% |
| Fixed assets | 21/28 | €301,832 | €362,236 | +€60,404 | +20.0% |
| Tangible fixed assets | 22/27 | €292,557 | €352,961 | +€60,404 | +20.6% |
| Land and buildings | 22 | €228,603 | €299,053 | +€70,450 | +30.8% |
| Plant, machinery and equipment | 23 | €2,389 | €1,447 | -€942 | -39.4% |
| Furniture and vehicles | 24 | €12,265 | €5,067 | -€7,197 | -58.7% |
| Other tangible fixed assets | 26 | €49,299 | €47,393 | -€1,906 | -3.9% |
| Financial fixed assets | 28 | €9,275 | €9,275 | = | 0.0% |
| Current assets | 29/58 | €162,973 | €60,622 | -€102,351 | -62.8% |
| Amounts receivable within one year | 40/41 | €138,299 | €41,979 | -€96,320 | -69.6% |
| Trade receivables | 40 | €134,081 | €32,923 | -€101,158 | -75.4% |
| Other amounts receivable | 41 | €4,218 | €9,056 | +€4,838 | +115% |
| Current investments | 50/53 | €2,350 | €2,350 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,980 | €13,643 | -€6,337 | -31.7% |
| Deferred charges and accrued income | 490/1 | €2,344 | €2,650 | +€306 | +13.1% |
| Total equity and liabilities | 10/49 | €464,805 | €422,859 | -€41,947 | -9.0% |
| Equity | 10/15 | €141,111 | €99,530 | -€41,581 | -29.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,561 | €80,980 | -€41,581 | -33.9% |
| Amounts payable | 17/49 | €323,694 | €323,329 | -€365 | -0.1% |
| Amounts payable after more than one year | 17 | €173,800 | €204,886 | +€31,086 | +17.9% |
| Financial debts | 170/4 | €173,800 | €204,886 | +€31,086 | +17.9% |
| Amounts payable within one year | 42/48 | €148,187 | €115,172 | -€33,015 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €1,013 | €12,335 | +€11,322 | +1,117% |
| Trade debts | 44 | €61,058 | €10,674 | -€50,384 | -82.5% |
| Suppliers | 440/4 | €61,058 | €10,674 | -€50,384 | -82.5% |
| Advances received on contracts in progress | 46 | €170 | €756 | +€586 | +344% |
| Taxes, remuneration and social security | 45 | €13,189 | €17,717 | +€4,527 | +34.3% |
| Taxes | 450/3 | €12,154 | €12,481 | +€328 | +2.7% |
| Remuneration and social security | 454/9 | €1,035 | €5,235 | +€4,200 | +406% |
| Other amounts payable | 47/48 | €72,756 | €73,690 | +€934 | +1.3% |
| Accrued charges and deferred income | 492/3 | €1,707 | €3,271 | +€1,564 | +91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,918 | €20,849 | +€1,931 | +10.2% |
| Other operating charges | 640/8 | €2,670 | €746 | -€1,923 | -72.0% |
| Non-recurring operating charges | 66A | - | €756 | +€756 | |
| Gross operating margin | 9900 | €51,936 | €18,437 | -€33,499 | -64.5% |
| Operating profit (loss) | 9901 | €30,349 | -€3,914 | -€34,263 | |
| Financial income | 75/76B | €1 | €68 | +€67 | +6,586% |
| Recurring financial income | 75 | €1 | €68 | +€67 | +6,586% |
| Financial charges | 65/66B | €13,271 | €21,790 | +€8,519 | +64.2% |
| Recurring financial charges | 65 | €13,271 | €21,790 | +€8,519 | +64.2% |
| Profit (loss) for the period before taxes | 9903 | €17,079 | -€25,637 | -€42,716 | |
| Income taxes | 67/77 | €5,882 | €944 | -€4,938 | -83.9% |
| Profit (loss) for the period | 9904 | €11,197 | -€26,581 | -€37,778 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,197 | -€26,581 | -€37,778 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.