MANNA: what changed
What changed
MANNA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€246,617
2024 · €248,342-€1,724
Equity
€2.1m
2024 · €1.8m+€246,617
Cash
€48,319
2024 · €43,901+€4,418
Balance sheet total
€3.6m
2024 · €3.3m+€309,970
Largest movements
Assets
- Tangible fixed assets +€445,155
up €445,155 (+14.4%), from €3.1m to €3.5m
of which Assets under construction and advance payments: +€583,628
- Receivables within one year -€134,847
down €134,847 (-73.8%), from €182,646 to €47,799
of which Other amounts receivable: -€134,847
Equity and liabilities
- Other debts +€286,125
new in 2025: €286,125
- Reserves +€246,617
up €246,617 (+16.8%), from €1.5m to €1.7m
of which Distributable reserves: +€246,617
- Debts after one year -€172,476
down €172,476 (-14.7%), from €1.2m to €1.0m
of which Financial debts: -€172,476
- Short-term financial debts -€45,966
down €45,966 (-66.1%), from €69,496 to €23,530
Income statement
- Gross operating margin -€8,649
down €8,649 (-1.6%), from €537,561 to €528,912
- Financial income +€6,541
new in 2025: €6,541
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€248,342
Gross operating margin
-€8,649
Other operating charges
-€1,528
Financial income
+€6,541
Financial charges
+€993
Taxes
+€919
Result 2025
€246,617
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€801,732
Investment
-€578,872
Financing
-€218,442
Cash 2024
€43,901
From operations (derived)
+€801,732
Net result for the year
+€246,617
Depreciation
+€138,473
Receivables within one year
+€134,847
Trade debts
-€5,411
Tax, wage and social debts
+€1,081
Other debts
+€286,125
Investment (derived)
-€578,872
Investment in fixed assets (net)
-€578,872
Financing
-€218,442
Debts after one year
-€172,476
Short-term financial debts
-€45,966
Cash 2025
€48,319
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,325,083 | €3,635,053 | +€309,970 | +9.3% |
| Fixed assets | 21/28 | €3,098,536 | €3,538,935 | +€440,399 | +14.2% |
| Tangible fixed assets | 22/27 | €3,093,780 | €3,538,935 | +€445,155 | +14.4% |
| Land and buildings | 22 | €2,254,631 | €2,116,158 | -€138,473 | -6.1% |
| Assets under construction and advance payments | 27 | €839,149 | €1,422,777 | +€583,628 | +69.5% |
| Financial fixed assets | 28 | €4,756 | - | -€4,756 | |
| Current assets | 29/58 | €226,547 | €96,118 | -€130,429 | -57.6% |
| Amounts receivable within one year | 40/41 | €182,646 | €47,799 | -€134,847 | -73.8% |
| Trade receivables | 40 | €1,000 | €1,000 | = | 0.0% |
| Other amounts receivable | 41 | €181,646 | €46,799 | -€134,847 | -74.2% |
| Cash at bank and in hand | 54/58 | €43,901 | €48,319 | +€4,418 | +10.1% |
| Total equity and liabilities | 10/49 | €3,325,083 | €3,635,053 | +€309,970 | +9.3% |
| Equity | 10/15 | €1,838,851 | €2,085,469 | +€246,617 | +13.4% |
| Contributions | 10/11 | €370,000 | €370,000 | = | 0.0% |
| Capital | 10 | €370,000 | €370,000 | = | 0.0% |
| Issued capital | 100 | €370,000 | €370,000 | = | 0.0% |
| Reserves | 13 | €1,468,851 | €1,715,469 | +€246,617 | +16.8% |
| Non-distributable reserves | 130/1 | €37,000 | €37,000 | = | 0.0% |
| Legal reserve | 130 | €37,000 | €37,000 | = | 0.0% |
| Distributable reserves | 133 | €1,431,851 | €1,678,469 | +€246,617 | +17.2% |
| Amounts payable | 17/49 | €1,486,232 | €1,549,585 | +€63,353 | +4.3% |
| Amounts payable after more than one year | 17 | €1,174,787 | €1,002,311 | -€172,476 | -14.7% |
| Financial debts | 170/4 | €1,172,787 | €1,000,311 | -€172,476 | -14.7% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €305,347 | €541,175 | +€235,829 | +77.2% |
| Current portion of amounts payable after more than one year | 42 | €172,476 | €172,476 | = | 0.0% |
| Financial debts | 43 | €69,496 | €23,530 | -€45,966 | -66.1% |
| Credit institutions | 430/8 | €69,496 | €23,530 | -€45,966 | -66.1% |
| Trade debts | 44 | €63,251 | €57,839 | -€5,411 | -8.6% |
| Suppliers | 440/4 | €63,251 | €57,839 | -€5,411 | -8.6% |
| Taxes, remuneration and social security | 45 | €125 | €1,206 | +€1,081 | +867% |
| Taxes | 450/3 | €125 | €1,206 | +€1,081 | +867% |
| Other amounts payable | 47/48 | - | €286,125 | +€286,125 | |
| Accrued charges and deferred income | 492/3 | €6,098 | €6,098 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,473 | €138,473 | = | 0.0% |
| Other operating charges | 640/8 | €48,837 | €50,364 | +€1,528 | +3.1% |
| Gross operating margin | 9900 | €537,561 | €528,912 | -€8,649 | -1.6% |
| Operating profit (loss) | 9901 | €350,251 | €340,074 | -€10,177 | -2.9% |
| Financial income | 75/76B | - | €6,541 | +€6,541 | |
| Recurring financial income | 75 | - | €6,541 | +€6,541 | |
| Financial charges | 65/66B | €18,785 | €17,792 | -€993 | -5.3% |
| Recurring financial charges | 65 | €18,785 | €17,792 | -€993 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €331,467 | €328,823 | -€2,643 | -0.8% |
| Income taxes | 67/77 | €83,125 | €82,206 | -€919 | -1.1% |
| Profit (loss) for the period | 9904 | €248,342 | €246,617 | -€1,724 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €248,342 | €246,617 | -€1,724 | -0.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.