MANOL NETWORKS: 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.
MANOL NETWORKS
Largest movements
- Receivables within one year +€72,890
up €72,890 (+47.1%), from €154,873 to €227,763
of which Trade receivables: +€60,646
- Intangible fixed assets +€45,498
new in 2025: €45,498
- Deferred charges and accrued income +€4,822
up €4,822 (+73.9%), from €6,525 to €11,347
- Debts after one year +€91,146
new in 2025: €91,146
- Trade debts +€40,754
up €40,754 (+51.7%), from €78,796 to €119,550
- Current portion of long-term debt -€20,275
down €20,275 (-81.1%), from €25,000 to €4,725
- Reserves +€8,638
up €8,638 (+50.1%), from €17,252 to €25,890
of which Distributable reserves: +€8,638
- Gross operating margin +€22,884
up €22,884 (+231%), from €9,892 to €32,776
- Depreciation +€11,393
up €11,393 (+1,944%), from €586 to €11,979
- Financial charges +€3,674
up €3,674 (+65.9%), from €5,573 to €9,247
- Taxes +€1,935
up €1,935 (+311%), from €622 to €2,557
- Other operating charges -€345
down €345 (-44.1%), from €783 to €438
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 | €162,312 | €285,518 | +€123,206 | +75.9% |
| Fixed assets | 21/28 | €911 | €45,805 | +€44,894 | +4,928% |
| Intangible fixed assets | 21 | - | €45,498 | +€45,498 | |
| Tangible fixed assets | 22/27 | €911 | €307 | -€604 | -66.3% |
| Plant, machinery and equipment | 23 | €911 | €307 | -€604 | -66.3% |
| Current assets | 29/58 | €161,401 | €239,713 | +€78,312 | +48.5% |
| Amounts receivable within one year | 40/41 | €154,873 | €227,763 | +€72,890 | +47.1% |
| Trade receivables | 40 | €32,736 | €93,382 | +€60,646 | +185% |
| Other amounts receivable | 41 | €122,137 | €134,381 | +€12,244 | +10.0% |
| Cash at bank and in hand | 54/58 | €3 | €603 | +€600 | +20,000% |
| Deferred charges and accrued income | 490/1 | €6,525 | €11,347 | +€4,822 | +73.9% |
| Total equity and liabilities | 10/49 | €162,312 | €285,518 | +€123,206 | +75.9% |
| Equity | 10/15 | €27,896 | €36,534 | +€8,638 | +31.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €17,252 | €25,890 | +€8,638 | +50.1% |
| 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 | €15,392 | €24,030 | +€8,638 | +56.1% |
| Profit (loss) carried forward | 14 | -€1,756 | -€1,756 | = | 0.0% |
| Amounts payable | 17/49 | €134,416 | €248,984 | +€114,568 | +85.2% |
| Amounts payable after more than one year | 17 | - | €91,146 | +€91,146 | |
| Financial debts | 170/4 | - | €91,146 | +€91,146 | |
| Amounts payable within one year | 42/48 | €134,416 | €157,838 | +€23,422 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €4,725 | -€20,275 | -81.1% |
| Financial debts | 43 | €29,998 | €30,384 | +€386 | +1.3% |
| Credit institutions | 430/8 | €29,998 | €30,384 | +€386 | +1.3% |
| Trade debts | 44 | €78,796 | €119,550 | +€40,754 | +51.7% |
| Suppliers | 440/4 | €78,796 | €119,550 | +€40,754 | +51.7% |
| Taxes, remuneration and social security | 45 | €622 | €3,179 | +€2,557 | +411% |
| Taxes | 450/3 | €622 | €3,179 | +€2,557 | +411% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €586 | €11,979 | +€11,393 | +1,944% |
| Other operating charges | 640/8 | €783 | €438 | -€345 | -44.1% |
| Gross operating margin | 9900 | €9,892 | €32,776 | +€22,884 | +231% |
| Operating profit (loss) | 9901 | €8,523 | €20,359 | +€11,836 | +139% |
| Financial income | 75/76B | - | €83 | +€83 | |
| Recurring financial income | 75 | - | €83 | +€83 | |
| Financial charges | 65/66B | €5,573 | €9,247 | +€3,674 | +65.9% |
| Recurring financial charges | 65 | €5,573 | €9,247 | +€3,674 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | €2,950 | €11,195 | +€8,245 | +279% |
| Income taxes | 67/77 | €622 | €2,557 | +€1,935 | +311% |
| Profit (loss) for the period | 9904 | €2,328 | €8,638 | +€6,310 | +271% |
| Profit (loss) for the period to be appropriated | 9905 | €2,328 | €8,638 | +€6,310 | +271% |
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.