MANON: 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.
MANON
Largest movements
- Receivables within one year +€36,629
up €36,629 (+93.0%), from €39,385 to €76,014
of which Trade receivables: +€21,829
- Receivables after one year -€33,250
down €33,250 (-28.2%), from €118,000 to €84,750
- Trade debts +€18,519
up €18,519 (+773%), from €2,395 to €20,914
- Debts after one year -€16,603
down €16,603 (-26.6%), from €62,315 to €45,712
- Tax, wage and social debts -€16,415
down €16,415 (-100%), from €16,415 to €0
- Reserves +€13,942
up €13,942 (+3.5%), from €400,251 to €414,193
of which Distributable reserves: +€15,802
- Gross operating margin -€36,288
down €36,288 (-32.9%), from €110,152 to €73,864
- Taxes -€11,119
down €11,119 (-31.8%), from €34,916 to €23,796
- Other operating charges -€1,206
down €1,206 (-56.7%), from €2,127 to €921
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 | €543,085 | €547,465 | +€4,380 | +0.8% |
| Fixed assets | 21/28 | €330,723 | €330,248 | -€475 | -0.1% |
| Tangible fixed assets | 22/27 | €708 | €233 | -€475 | -67.1% |
| Plant, machinery and equipment | 23 | €708 | €233 | -€475 | -67.1% |
| Financial fixed assets | 28 | €330,015 | €330,015 | = | 0.0% |
| Current assets | 29/58 | €212,362 | €217,217 | +€4,855 | +2.3% |
| Amounts receivable after more than one year | 29 | €118,000 | €84,750 | -€33,250 | -28.2% |
| Other amounts receivable | 291 | €118,000 | €84,750 | -€33,250 | -28.2% |
| Amounts receivable within one year | 40/41 | €39,385 | €76,014 | +€36,629 | +93.0% |
| Trade receivables | 40 | €31,385 | €53,214 | +€21,829 | +69.6% |
| Other amounts receivable | 41 | €8,000 | €22,800 | +€14,800 | +185% |
| Cash at bank and in hand | 54/58 | €53,047 | €54,630 | +€1,583 | +3.0% |
| Deferred charges and accrued income | 490/1 | €1,930 | €1,824 | -€107 | -5.5% |
| Total equity and liabilities | 10/49 | €543,085 | €547,465 | +€4,380 | +0.8% |
| Equity | 10/15 | €418,851 | €432,793 | +€13,942 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €400,251 | €414,193 | +€13,942 | +3.5% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €398,391 | €414,193 | +€15,802 | +4.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €124,234 | €114,673 | -€9,561 | -7.7% |
| Amounts payable after more than one year | 17 | €62,315 | €45,712 | -€16,603 | -26.6% |
| Financial debts | 170/4 | €62,315 | €45,712 | -€16,603 | -26.6% |
| Amounts payable within one year | 42/48 | €61,919 | €68,961 | +€7,042 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €17,664 | €17,974 | +€310 | +1.8% |
| Trade debts | 44 | €2,395 | €20,914 | +€18,519 | +773% |
| Suppliers | 440/4 | €2,395 | €20,914 | +€18,519 | +773% |
| Taxes, remuneration and social security | 45 | €16,415 | €0 | -€16,415 | -100% |
| Taxes | 450/3 | €16,415 | €0 | -€16,415 | -100% |
| Other amounts payable | 47/48 | €25,445 | €30,073 | +€4,628 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €475 | €475 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,127 | €921 | -€1,206 | -56.7% |
| Gross operating margin | 9900 | €110,152 | €73,864 | -€36,288 | -32.9% |
| Operating profit (loss) | 9901 | €107,550 | €72,467 | -€35,083 | -32.6% |
| Financial income | 75/76B | €2,873 | €2,902 | +€28 | +1.0% |
| Recurring financial income | 75 | €2,873 | €2,902 | +€28 | +1.0% |
| Financial charges | 65/66B | €3,432 | €2,631 | -€801 | -23.3% |
| Recurring financial charges | 65 | €3,432 | €2,631 | -€801 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €106,991 | €72,738 | -€34,253 | -32.0% |
| Income taxes | 67/77 | €34,916 | €23,796 | -€11,119 | -31.8% |
| Profit (loss) for the period | 9904 | €72,075 | €48,942 | -€23,134 | -32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72,075 | €48,942 | -€23,134 | -32.1% |
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 15 October 2026 via checked.be.