Manneken Fiets: 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 Fiets
Largest movements
- Cash +€104,922
up €104,922 (+141%), from €74,662 to €179,584
mainly Receivables within one year (+€47,218) and Net result for the year (+€43,108)
- Receivables within one year -€47,218
down €47,218 (-66.6%), from €70,875 to €23,657
of which Trade receivables: -€63,299
- Tangible fixed assets -€12,043
down €12,043 (-19.0%), from €63,295 to €51,252
of which Furniture and vehicles: -€13,307
- Reserves +€43,109
up €43,109 (+10.8%), from €400,593 to €443,702
- Debts after one year -€23,000
down €23,000 (-18.7%), from €123,300 to €100,300
- Tax, wage and social debts +€13,300
up €13,300 (+47.5%), from €28,019 to €41,319
- Accrued charges and deferred income +€6,435
up €6,435 (+966%), from €666 to €7,101
- Staff costs +€30,640
up €30,640 (+55.6%), from €55,116 to €85,756
- Gross operating margin -€29,085
down €29,085 (-14.3%), from €203,690 to €174,605
- Taxes -€11,730
down €11,730 (-40.2%), from €29,188 to €17,458
- Depreciation +€9,876
up €9,876 (+73.0%), from €13,523 to €23,399
- Financial charges +€7,397
up €7,397 (+1,888%), from €392 to €7,789
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 | €580,124 | €614,648 | +€34,524 | +6.0% |
| Fixed assets | 21/28 | €66,912 | €54,236 | -€12,676 | -18.9% |
| Intangible fixed assets | 21 | €3,086 | €2,454 | -€632 | -20.5% |
| Tangible fixed assets | 22/27 | €63,295 | €51,252 | -€12,043 | -19.0% |
| Plant, machinery and equipment | 23 | €6,715 | €8,813 | +€2,098 | +31.2% |
| Furniture and vehicles | 24 | €53,862 | €40,555 | -€13,307 | -24.7% |
| Other tangible fixed assets | 26 | €2,718 | €1,884 | -€834 | -30.7% |
| Financial fixed assets | 28 | €530 | €530 | = | 0.0% |
| Current assets | 29/58 | €513,213 | €560,412 | +€47,199 | +9.2% |
| Stocks and contracts in progress | 3 | €362,116 | €356,191 | -€5,925 | -1.6% |
| Stocks | 30/36 | €362,116 | €356,191 | -€5,925 | -1.6% |
| Amounts receivable within one year | 40/41 | €70,875 | €23,657 | -€47,218 | -66.6% |
| Trade receivables | 40 | €66,977 | €3,678 | -€63,299 | -94.5% |
| Other amounts receivable | 41 | €3,898 | €19,979 | +€16,081 | +413% |
| Cash at bank and in hand | 54/58 | €74,662 | €179,584 | +€104,922 | +141% |
| Deferred charges and accrued income | 490/1 | €5,560 | €980 | -€4,580 | -82.4% |
| Total equity and liabilities | 10/49 | €580,124 | €614,648 | +€34,524 | +6.0% |
| Equity | 10/15 | €406,793 | €449,902 | +€43,109 | +10.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €400,593 | €443,702 | +€43,109 | +10.8% |
| Distributable reserves | 133 | €400,593 | €443,702 | +€43,109 | +10.8% |
| Amounts payable | 17/49 | €173,331 | €164,746 | -€8,585 | -5.0% |
| Amounts payable after more than one year | 17 | €123,300 | €100,300 | -€23,000 | -18.7% |
| Other amounts payable | 178/9 | €123,300 | €100,300 | -€23,000 | -18.7% |
| Amounts payable within one year | 42/48 | €49,365 | €57,345 | +€7,980 | +16.2% |
| Trade debts | 44 | €16,795 | €12,809 | -€3,986 | -23.7% |
| Suppliers | 440/4 | €16,795 | €12,809 | -€3,986 | -23.7% |
| Taxes, remuneration and social security | 45 | €28,019 | €41,319 | +€13,300 | +47.5% |
| Taxes | 450/3 | €28,019 | €41,319 | +€13,300 | +47.5% |
| Other amounts payable | 47/48 | €4,551 | €3,217 | -€1,334 | -29.3% |
| Accrued charges and deferred income | 492/3 | €666 | €7,101 | +€6,435 | +966% |
| Non-recurring operating income | 76A | €2,094 | - | -€2,094 | |
| Remuneration, social security and pensions | 62 | €55,116 | €85,756 | +€30,640 | +55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,523 | €23,399 | +€9,876 | +73.0% |
| Other operating charges | 640/8 | €803 | €1,295 | +€492 | +61.3% |
| Gross operating margin | 9900 | €203,690 | €174,605 | -€29,085 | -14.3% |
| Operating profit (loss) | 9901 | €134,249 | €64,155 | -€70,094 | -52.2% |
| Financial income | 75/76B | €1,959 | €4,200 | +€2,241 | +114% |
| Recurring financial income | 75 | €1,959 | €4,200 | +€2,241 | +114% |
| Financial charges | 65/66B | €392 | €7,789 | +€7,397 | +1,888% |
| Recurring financial charges | 65 | €392 | €7,789 | +€7,397 | +1,888% |
| Profit (loss) for the period before taxes | 9903 | €135,816 | €60,566 | -€75,250 | -55.4% |
| Income taxes | 67/77 | €29,188 | €17,458 | -€11,730 | -40.2% |
| Profit (loss) for the period | 9904 | €106,628 | €43,108 | -€63,520 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €106,628 | €43,108 | -€63,520 | -59.6% |
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 31 October 2026 via checked.be.