MANOJ: 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.
MANOJ
Largest movements
- Stocks and contracts +€13,010
up €13,010 (+8.2%), from €158,836 to €171,846
- Tangible fixed assets -€5,149
down €5,149 (-2.4%), from €215,276 to €210,128
of which Furniture and vehicles: -€6,928
- Current investments -€4,929
no longer reported in 2025 (was €4,929)
- Other debts +€37,302
up €37,302 (+105.9%), from €35,210 to €72,512
- Tax, wage and social debts -€33,230
down €33,230 (-39.6%), from €83,900 to €50,670
of which Taxes: -€38,030
- Debts after one year -€15,221
down €15,221 (-13.2%), from €114,986 to €99,765
- Trade debts +€14,449
up €14,449 (+18.4%), from €78,724 to €93,173
- Profit (loss) carried forward +€4,148
up €4,148 (+17.1%), from -€24,235 to -€20,087
- Taxes -€81,037
down €81,037 (-94.0%), from €86,208 to €5,171
- Gross operating margin +€44,493
up €44,493, from -€9,775 to €34,717
- Financial charges -€4,041
down €4,041 (-40.0%), from €10,093 to €6,052
- Other operating charges -€3,290
down €3,290 (-53.6%), from €6,140 to €2,849
- Depreciation +€2,232
up €2,232 (+15.6%), from €14,265 to €16,497
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 | €387,126 | €396,715 | +€9,589 | +2.5% |
| Fixed assets | 21/28 | €220,293 | €215,145 | -€5,149 | -2.3% |
| Tangible fixed assets | 22/27 | €215,276 | €210,128 | -€5,149 | -2.4% |
| Land and buildings | 22 | €201,906 | €197,299 | -€4,608 | -2.3% |
| Plant, machinery and equipment | 23 | €3,671 | €10,058 | +€6,387 | +174.0% |
| Furniture and vehicles | 24 | €9,699 | €2,771 | -€6,928 | -71.4% |
| Financial fixed assets | 28 | €5,017 | €5,017 | = | 0.0% |
| Current assets | 29/58 | €166,832 | €181,570 | +€14,738 | +8.8% |
| Stocks and contracts in progress | 3 | €158,836 | €171,846 | +€13,010 | +8.2% |
| Stocks | 30/36 | €158,836 | €171,846 | +€13,010 | +8.2% |
| Amounts receivable within one year | 40/41 | €1,061 | €4,994 | +€3,933 | +370.5% |
| Trade receivables | 40 | - | €3,053 | +€3,053 | |
| Other amounts receivable | 41 | €1,061 | €1,941 | +€880 | +82.9% |
| Current investments | 50/53 | €4,929 | - | -€4,929 | |
| Cash at bank and in hand | 54/58 | €2,006 | €4,729 | +€2,723 | +135.8% |
| Total equity and liabilities | 10/49 | €387,126 | €396,715 | +€9,589 | +2.5% |
| Equity | 10/15 | €61,225 | €65,373 | +€4,148 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,860 | €66,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,235 | -€20,087 | +€4,148 | +17.1% |
| Amounts payable | 17/49 | €325,900 | €331,341 | +€5,441 | +1.7% |
| Amounts payable after more than one year | 17 | €114,986 | €99,765 | -€15,221 | -13.2% |
| Financial debts | 170/4 | €114,986 | €99,765 | -€15,221 | -13.2% |
| Amounts payable within one year | 42/48 | €210,914 | €231,576 | +€20,662 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €13,080 | €15,221 | +€2,141 | +16.4% |
| Trade debts | 44 | €78,724 | €93,173 | +€14,449 | +18.4% |
| Suppliers | 440/4 | €78,724 | €93,173 | +€14,449 | +18.4% |
| Taxes, remuneration and social security | 45 | €83,900 | €50,670 | -€33,230 | -39.6% |
| Taxes | 450/3 | €77,900 | €39,870 | -€38,030 | -48.8% |
| Remuneration and social security | 454/9 | €6,000 | €10,800 | +€4,800 | +80.0% |
| Other amounts payable | 47/48 | €35,210 | €72,512 | +€37,302 | +105.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,265 | €16,497 | +€2,232 | +15.6% |
| Other operating charges | 640/8 | €6,140 | €2,849 | -€3,290 | -53.6% |
| Gross operating margin | 9900 | -€9,775 | €34,717 | +€44,493 | |
| Operating profit (loss) | 9901 | -€30,180 | €15,371 | +€45,551 | |
| Financial income | 75/76B | €34 | - | -€34 | |
| Recurring financial income | 75 | €34 | - | -€34 | |
| Financial charges | 65/66B | €10,093 | €6,052 | -€4,041 | -40.0% |
| Recurring financial charges | 65 | €10,093 | €6,052 | -€4,041 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | -€40,239 | €9,319 | +€49,558 | |
| Income taxes | 67/77 | €86,208 | €5,171 | -€81,037 | -94.0% |
| Profit (loss) for the period | 9904 | -€126,447 | €4,148 | +€130,595 | |
| Profit (loss) for the period to be appropriated | 9905 | -€126,447 | €4,148 | +€130,595 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.