MANN ESTATE: 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.
What changed
MANN ESTATE
NACE 68.122, Development of non-residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€44,958
2024 · -€87,314+€42,357
Equity
€124,590
2024 · €169,548-€44,958
Cash
€5,976
2024 · €5,526+€451
Balance sheet total
€236,515
2024 · €273,445-€36,930
Largest movements
Assets
- Tangible fixed assets -€36,066
down €36,066 (-14.0%), from €257,395 to €221,329
of which Land and buildings: -€18,859
Equity and liabilities
- Profit (loss) carried forward -€39,381
down €39,381 (-124%), from -€31,873 to -€71,254
- Trade debts +€7,639
up €7,639 (+608%), from €1,256 to €8,895
- Other debts +€7,492
up €7,492 (+17.8%), from €41,982 to €49,474
- Reserves -€5,577
down €5,577 (-4.3%), from €128,293 to €122,716
of which Tax-exempt reserves: -€5,577
- Debts after one year -€5,055
down €5,055 (-20.4%), from €24,755 to €19,700
Income statement
- Gross operating margin +€37,344
up €37,344 (+88.3%), from -€42,285 to -€4,941
- Depreciation -€3,665
down €3,665 (-9.6%), from €37,983 to €34,318
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.
Result 2024
-€87,314
Gross operating margin
+€37,344
Depreciation
+€3,665
Other operating charges
+€258
Financial income
+€2
Financial charges
+€49
Deferred taxes and other
+€1,039
Result 2025
-€44,958
raises the resultnot broken down further in the accounts
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.
From operations
+€3,677
Investment
+€1,748
Financing
-€4,975
Cash 2024
€5,526
From operations (derived)
+€3,677
Net result for the year
-€44,958
Depreciation
+€34,318
Stocks and contracts
+€1,220
Receivables within one year
+€1,605
Deferred charges and accrued income
-€1,510
Provisions
-€1,859
Trade debts
+€7,639
Tax, wage and social debts
-€6
Other debts
+€7,492
Accrued charges and deferred income
-€264
Investment (derived)
+€1,748
Investment in fixed assets (net)
+€1,748
Financing
-€4,975
Debts after one year
-€5,055
Current portion of long-term debt
+€81
Cash 2025
€5,976
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €273,445 | €236,515 | -€36,930 | -13.5% |
| Fixed assets | 21/28 | €257,395 | €221,329 | -€36,066 | -14.0% |
| Tangible fixed assets | 22/27 | €257,395 | €221,329 | -€36,066 | -14.0% |
| Land and buildings | 22 | €236,001 | €217,142 | -€18,859 | -8.0% |
| Plant, machinery and equipment | 23 | €3,139 | €409 | -€2,730 | -87.0% |
| Furniture and vehicles | 24 | €18,255 | €3,778 | -€14,477 | -79.3% |
| Current assets | 29/58 | €16,050 | €15,186 | -€864 | -5.4% |
| Stocks and contracts in progress | 3 | €1,220 | - | -€1,220 | |
| Stocks | 30/36 | €1,220 | - | -€1,220 | |
| Amounts receivable within one year | 40/41 | €6,004 | €4,399 | -€1,605 | -26.7% |
| Trade receivables | 40 | €1,664 | €2,630 | +€966 | +58.1% |
| Other amounts receivable | 41 | €4,340 | €1,770 | -€2,571 | -59.2% |
| Cash at bank and in hand | 54/58 | €5,526 | €5,976 | +€451 | +8.2% |
| Deferred charges and accrued income | 490/1 | €3,300 | €4,810 | +€1,510 | +45.8% |
| Total equity and liabilities | 10/49 | €273,445 | €236,515 | -€36,930 | -13.5% |
| Equity | 10/15 | €169,548 | €124,590 | -€44,958 | -26.5% |
| Contributions | 10/11 | €73,129 | €73,129 | = | 0.0% |
| Capital | 10 | €73,129 | €73,129 | = | 0.0% |
| Issued capital | 100 | €73,129 | €73,129 | = | 0.0% |
| Reserves | 13 | €128,293 | €122,716 | -€5,577 | -4.3% |
| Non-distributable reserves | 130/1 | €7,313 | €7,313 | = | 0.0% |
| Legal reserve | 130 | €7,313 | €7,313 | = | 0.0% |
| Tax-exempt reserves | 132 | €91,874 | €86,297 | -€5,577 | -6.1% |
| Distributable reserves | 133 | €29,106 | €29,106 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,873 | -€71,254 | -€39,381 | -124% |
| Provisions and deferred taxes | 16 | €30,625 | €28,766 | -€1,859 | -6.1% |
| Deferred taxes | 168 | €30,625 | €28,766 | -€1,859 | -6.1% |
| Amounts payable | 17/49 | €73,273 | €83,159 | +€9,886 | +13.5% |
| Amounts payable after more than one year | 17 | €24,755 | €19,700 | -€5,055 | -20.4% |
| Financial debts | 170/4 | €24,755 | €19,700 | -€5,055 | -20.4% |
| Amounts payable within one year | 42/48 | €48,219 | €63,425 | +€15,206 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €4,975 | €5,055 | +€81 | +1.6% |
| Trade debts | 44 | €1,256 | €8,895 | +€7,639 | +608% |
| Suppliers | 440/4 | €1,256 | €8,895 | +€7,639 | +608% |
| Taxes, remuneration and social security | 45 | €6 | - | -€6 | |
| Taxes | 450/3 | €6 | - | -€6 | |
| Other amounts payable | 47/48 | €41,982 | €49,474 | +€7,492 | +17.8% |
| Accrued charges and deferred income | 492/3 | €299 | €35 | -€264 | -88.4% |
| Non-recurring operating income | 76A | €496 | - | -€496 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,983 | €34,318 | -€3,665 | -9.6% |
| Other operating charges | 640/8 | €6,875 | €6,617 | -€258 | -3.8% |
| Gross operating margin | 9900 | -€42,285 | -€4,941 | +€37,344 | +88.3% |
| Operating profit (loss) | 9901 | -€87,143 | -€45,876 | +€41,267 | +47.4% |
| Financial income | 75/76B | €1 | €2 | +€2 | +309% |
| Recurring financial income | 75 | €1 | €2 | +€2 | +309% |
| Financial charges | 65/66B | €991 | €943 | -€49 | -4.9% |
| Recurring financial charges | 65 | €991 | €943 | -€49 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€88,134 | -€46,817 | +€41,317 | +46.9% |
| Transfer from deferred taxes | 780 | €820 | €1,859 | +€1,039 | +127% |
| Profit (loss) for the period | 9904 | -€87,314 | -€44,958 | +€42,357 | +48.5% |
| Transfer from tax-exempt reserves | 789 | €2,459 | €5,577 | +€3,118 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,855 | -€39,381 | +€45,474 | +53.6% |
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 13 October 2026 via checked.be.