MANNEKEN: 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.
MANNEKEN
Largest movements
- Current investments -€49,675
down €49,675 (-49.7%), from €100,000 to €50,325
- Receivables within one year +€49,391
up €49,391 (+482%), from €10,253 to €59,645
of which Other amounts receivable: +€47,047
- Tangible fixed assets -€36,007
down €36,007 (-12.0%), from €300,006 to €263,999
of which Other tangible fixed assets: -€18,130
- Cash -€20,020
down €20,020 (-18.7%), from €107,270 to €87,250
mainly Receivables within one year (-€49,391) and Debts after one year (-€33,766)
- Stocks and contracts +€6,331
up €6,331 (+68.3%), from €9,271 to €15,602
- Debts after one year -€33,766
down €33,766 (-15.3%), from €220,177 to €186,411
- Tax, wage and social debts -€21,547
down €21,547 (-30.9%), from €69,682 to €48,134
of which Taxes: -€11,130
- Profit (loss) carried forward +€10,670
up €10,670 (+11.7%), from €90,932 to €101,602
- Trade debts -€9,162
down €9,162 (-13.8%), from €66,411 to €57,249
- Current portion of long-term debt +€6,161
up €6,161 (+18.6%), from €33,177 to €39,338
- Gross operating margin +€24,305
up €24,305 (+5.8%), from €416,633 to €440,938
- Staff costs +€22,968
up €22,968 (+6.8%), from €337,306 to €360,274
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 | €539,095 | €486,612 | -€52,483 | -9.7% |
| Fixed assets | 21/28 | €310,074 | €271,066 | -€39,007 | -12.6% |
| Intangible fixed assets | 21 | €8,642 | €5,642 | -€3,000 | -34.7% |
| Tangible fixed assets | 22/27 | €300,006 | €263,999 | -€36,007 | -12.0% |
| Plant, machinery and equipment | 23 | €13,247 | €10,618 | -€2,629 | -19.8% |
| Furniture and vehicles | 24 | €9,494 | €7,628 | -€1,865 | -19.6% |
| Leasing and similar rights | 25 | €108,946 | €95,564 | -€13,382 | -12.3% |
| Other tangible fixed assets | 26 | €168,319 | €150,189 | -€18,130 | -10.8% |
| Financial fixed assets | 28 | €1,426 | €1,426 | = | 0.0% |
| Current assets | 29/58 | €229,022 | €215,546 | -€13,475 | -5.9% |
| Stocks and contracts in progress | 3 | €9,271 | €15,602 | +€6,331 | +68.3% |
| Stocks | 30/36 | €9,271 | €15,602 | +€6,331 | +68.3% |
| Amounts receivable within one year | 40/41 | €10,253 | €59,645 | +€49,391 | +482% |
| Trade receivables | 40 | €5,434 | €7,779 | +€2,344 | +43.1% |
| Other amounts receivable | 41 | €4,819 | €51,866 | +€47,047 | +976% |
| Current investments | 50/53 | €100,000 | €50,325 | -€49,675 | -49.7% |
| Cash at bank and in hand | 54/58 | €107,270 | €87,250 | -€20,020 | -18.7% |
| Deferred charges and accrued income | 490/1 | €2,228 | €2,725 | +€498 | +22.3% |
| Total equity and liabilities | 10/49 | €539,095 | €486,612 | -€52,483 | -9.7% |
| Equity | 10/15 | €149,649 | €155,480 | +€5,831 | +3.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,932 | €101,602 | +€10,670 | +11.7% |
| Investment grants | 15 | €38,717 | €33,877 | -€4,840 | -12.5% |
| Amounts payable | 17/49 | €389,446 | €331,133 | -€58,314 | -15.0% |
| Amounts payable after more than one year | 17 | €220,177 | €186,411 | -€33,766 | -15.3% |
| Financial debts | 170/4 | €220,177 | €186,411 | -€33,766 | -15.3% |
| Amounts payable within one year | 42/48 | €169,270 | €144,722 | -€24,548 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €33,177 | €39,338 | +€6,161 | +18.6% |
| Trade debts | 44 | €66,411 | €57,249 | -€9,162 | -13.8% |
| Suppliers | 440/4 | €66,411 | €57,249 | -€9,162 | -13.8% |
| Taxes, remuneration and social security | 45 | €69,682 | €48,134 | -€21,547 | -30.9% |
| Taxes | 450/3 | €21,920 | €10,790 | -€11,130 | -50.8% |
| Remuneration and social security | 454/9 | €47,762 | €37,345 | -€10,417 | -21.8% |
| Remuneration, social security and pensions | 62 | €337,306 | €360,274 | +€22,968 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,249 | €45,033 | +€1,784 | +4.1% |
| Other operating charges | 640/8 | €3,835 | €2,462 | -€1,374 | -35.8% |
| Gross operating margin | 9900 | €416,633 | €440,938 | +€24,305 | +5.8% |
| Operating profit (loss) | 9901 | €32,242 | €33,169 | +€926 | +2.9% |
| Financial income | 75/76B | €5,468 | €6,870 | +€1,402 | +25.6% |
| Recurring financial income | 75 | €5,468 | €6,870 | +€1,402 | +25.6% |
| Financial charges | 65/66B | €28,691 | €27,731 | -€961 | -3.3% |
| Recurring financial charges | 65 | €28,691 | €27,731 | -€961 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €9,019 | €12,308 | +€3,289 | +36.5% |
| Income taxes | 67/77 | €3,103 | €1,637 | -€1,466 | -47.2% |
| Profit (loss) for the period | 9904 | €5,916 | €10,670 | +€4,755 | +80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,916 | €10,670 | +€4,755 | +80.4% |
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 19 October 2026 via checked.be.