Mannaert Vastgoed: 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.
Mannaert Vastgoed
Largest movements
- Stocks and contracts -€2.9m
down €2.9m (-76.1%), from €3.8m to €912,470
- Cash +€64,235
up €64,235 (+46,689%), from €138 to €64,372
mainly Stocks and contracts (+€2.9m) and Debts after one year (+€525,810)
- Short-term financial debts -€1.6m
down €1.6m (-99.9%), from €1.6m to €1,692
- Current portion of long-term debt -€679,205
down €679,205 (-97.0%), from €700,000 to €20,795
- Profit (loss) carried forward -€619,944
down €619,944 (-196%), from -€316,287 to -€936,231
- Debts after one year +€525,810
new in 2025: €525,810
- Other debts -€435,758
down €435,758 (-24.4%), from €1.8m to €1.4m
- Gross operating margin -€563,729
down €563,729 (-1,321%), from -€42,689 to -€606,417
- Staff costs -€78,709
down €78,709, from €72,016 to -€6,693
- Financial charges +€9,934
up €9,934 (+192%), from €5,172 to €15,106
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 | €3,830,036 | €980,645 | -€2.8m | -74.4% |
| Fixed assets | 21/28 | €5,992 | €3,778 | -€2,214 | -36.9% |
| Tangible fixed assets | 22/27 | €5,992 | €3,778 | -€2,214 | -36.9% |
| Furniture and vehicles | 24 | €5,992 | €3,778 | -€2,214 | -36.9% |
| Current assets | 29/58 | €3,824,043 | €976,867 | -€2.8m | -74.5% |
| Stocks and contracts in progress | 3 | €3,823,906 | €912,470 | -€2.9m | -76.1% |
| Stocks | 30/36 | €3,823,906 | €912,470 | -€2.9m | -76.1% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | - | €24 | +€24 | |
| Cash at bank and in hand | 54/58 | €138 | €64,372 | +€64,235 | +46,689% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,830,036 | €980,645 | -€2.8m | -74.4% |
| Equity | 10/15 | -€315,287 | -€935,231 | -€619,944 | -197% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€316,287 | -€936,231 | -€619,944 | -196% |
| Amounts payable | 17/49 | €4,145,323 | €1,915,876 | -€2.2m | -53.8% |
| Amounts payable after more than one year | 17 | - | €525,810 | +€525,810 | |
| Financial debts | 170/4 | - | €525,810 | +€525,810 | |
| Amounts payable within one year | 42/48 | €4,145,323 | €1,390,066 | -€2.8m | -66.5% |
| Current portion of amounts payable after more than one year | 42 | €700,000 | €20,795 | -€679,205 | -97.0% |
| Financial debts | 43 | €1,586,000 | €1,692 | -€1.6m | -99.9% |
| Credit institutions | 430/8 | €1,586,000 | €1,692 | -€1.6m | -99.9% |
| Trade debts | 44 | €49,361 | €14,853 | -€34,508 | -69.9% |
| Suppliers | 440/4 | €49,361 | €14,853 | -€34,508 | -69.9% |
| Taxes, remuneration and social security | 45 | €21,672 | €195 | -€21,477 | -99.1% |
| Taxes | 450/3 | €399 | €195 | -€204 | -51.2% |
| Remuneration and social security | 454/9 | €21,273 | €0 | -€21,273 | -100% |
| Other amounts payable | 47/48 | €1,788,290 | €1,352,531 | -€435,758 | -24.4% |
| Remuneration, social security and pensions | 62 | €72,016 | -€6,693 | -€78,709 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,214 | €2,214 | = | 0.0% |
| Other operating charges | 640/8 | €1,879 | €2,705 | +€826 | +43.9% |
| Gross operating margin | 9900 | -€42,689 | -€606,417 | -€563,729 | -1,321% |
| Operating profit (loss) | 9901 | -€118,798 | -€604,643 | -€485,846 | -409% |
| Financial income | 75/76B | €36 | €0 | -€36 | -100% |
| Recurring financial income | 75 | €36 | €0 | -€36 | -100% |
| Financial charges | 65/66B | €5,172 | €15,106 | +€9,934 | +192% |
| Recurring financial charges | 65 | €5,172 | €15,106 | +€9,934 | +192% |
| Profit (loss) for the period before taxes | 9903 | -€123,934 | -€619,749 | -€495,815 | -400% |
| Income taxes | 67/77 | €197 | €195 | -€2 | -1.3% |
| Profit (loss) for the period | 9904 | -€124,131 | -€619,944 | -€495,813 | -399% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,131 | -€619,944 | -€495,813 | -399% |
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 29 October 2026 via checked.be.