MANO: what changed
Two fiscal 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.
MANO
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+2707.9%), from €42,686 to €1.2m
of which Land and buildings: +€1.2m
- Cash -€590,752
down €590,752 (-86.0%), from €687,235 to €96,483
mainly Investment in fixed assets (net) (-€1.3m) and Contributions, distributions and other (-€750,000)
- Current investments -€199,109
down €199,109 (-8.5%), from €2.4m to €2.2m
- Receivables within one year -€100,047
down €100,047 (-21.1%), from €475,190 to €375,143
of which Other amounts receivable: -€138,047
- Debts after one year +€708,406
up €708,406 (+460.0%), from €154,014 to €862,420
- Reserves -€434,480
down €434,480 (-13.6%), from €3.2m to €2.8m
of which Distributable reserves: -€434,480
- Current portion of long-term debt -€49,370
down €49,370 (-32.1%), from €154,014 to €104,644
- Other debts +€42,878
up €42,878 (+289.0%), from €14,837 to €57,715
- Financial income -€1.6m
down €1.6m (-93.8%), from €1.8m to €109,296
- Gross operating margin -€622,097
down €622,097 (-56.9%), from €1.1m to €471,295
- Taxes -€164,453
down €164,453 (-58.4%), from €281,674 to €117,222
- Depreciation +€107,271
up €107,271 (+1619.6%), from €6,623 to €113,894
- Financial charges +€23,668
up €23,668 (+485.1%), from €4,879 to €28,547
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.
Cash bridge derived
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 | €3,561,892 | €3,832,488 | +€270,597 | +7.6% |
| Fixed assets | 21/28 | €42,686 | €1,198,575 | +€1.2m | +2707.9% |
| Tangible fixed assets | 22/27 | €42,686 | €1,198,575 | +€1.2m | +2707.9% |
| Land and buildings | 22 | - | €1,162,513 | +€1.2m | |
| Furniture and vehicles | 24 | €6,932 | €4,615 | -€2,316 | -33.4% |
| Other tangible fixed assets | 26 | €35,754 | €31,447 | -€4,307 | -12.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €3,519,206 | €2,633,913 | -€885,293 | -25.2% |
| Amounts receivable within one year | 40/41 | €475,190 | €375,143 | -€100,047 | -21.1% |
| Trade receivables | 40 | €0 | €38,000 | +€38,000 | |
| Other amounts receivable | 41 | €475,190 | €337,143 | -€138,047 | -29.1% |
| Current investments | 50/53 | €2,350,000 | €2,150,891 | -€199,109 | -8.5% |
| Cash at bank and in hand | 54/58 | €687,235 | €96,483 | -€590,752 | -86.0% |
| Deferred charges and accrued income | 490/1 | €6,780 | €11,395 | +€4,615 | +68.1% |
| Total equity and liabilities | 10/49 | €3,561,892 | €3,832,488 | +€270,597 | +7.6% |
| Equity | 10/15 | €3,221,353 | €2,786,873 | -€434,480 | -13.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,201,353 | €2,766,873 | -€434,480 | -13.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €3,199,353 | €2,764,873 | -€434,480 | -13.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €340,538 | €1,045,615 | +€705,076 | +207.0% |
| Amounts payable after more than one year | 17 | €154,014 | €862,420 | +€708,406 | +460.0% |
| Financial debts | 170/4 | €154,014 | €862,420 | +€708,406 | +460.0% |
| Amounts payable within one year | 42/48 | €185,751 | €180,323 | -€5,427 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €154,014 | €104,644 | -€49,370 | -32.1% |
| Financial debts | 43 | €0 | €2,199 | +€2,199 | |
| Credit institutions | 430/8 | €0 | €2,199 | +€2,199 | |
| Trade debts | 44 | €997 | €6,404 | +€5,406 | +542.0% |
| Suppliers | 440/4 | €997 | €6,404 | +€5,406 | +542.0% |
| Taxes, remuneration and social security | 45 | €15,903 | €9,362 | -€6,541 | -41.1% |
| Taxes | 450/3 | €15,903 | €9,362 | -€6,541 | -41.1% |
| Other amounts payable | 47/48 | €14,837 | €57,715 | +€42,878 | +289.0% |
| Accrued charges and deferred income | 492/3 | €773 | €2,871 | +€2,098 | +271.4% |
| Non-recurring operating income | 76A | - | €13,575 | +€13,575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,623 | €113,894 | +€107,271 | +1619.6% |
| Other operating charges | 640/8 | €2,256 | €5,408 | +€3,153 | +139.8% |
| Non-recurring operating charges | 66A | €2,537 | €0 | -€2,537 | -100.0% |
| Gross operating margin | 9900 | €1,093,392 | €471,295 | -€622,097 | -56.9% |
| Operating profit (loss) | 9901 | €1,081,975 | €351,993 | -€729,983 | -67.5% |
| Financial income | 75/76B | €1,759,064 | €109,296 | -€1.6m | -93.8% |
| Recurring financial income | 75 | €1,759,064 | €109,296 | -€1.6m | -93.8% |
| Financial charges | 65/66B | €4,879 | €28,547 | +€23,668 | +485.1% |
| Recurring financial charges | 65 | €4,879 | €28,547 | +€23,668 | +485.1% |
| Profit (loss) for the period before taxes | 9903 | €2,836,160 | €432,742 | -€2.4m | -84.7% |
| Income taxes | 67/77 | €281,674 | €117,222 | -€164,453 | -58.4% |
| Profit (loss) for the period | 9904 | €2,554,486 | €315,520 | -€2.2m | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,554,486 | €315,520 | -€2.2m | -87.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.