Manon De Marez: 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 De Marez
Largest movements
- Cash -€7,213
down €7,213 (-10.2%), from €70,723 to €63,510
mainly Contributions, distributions and other (-€110,294) and Receivables within one year (-€1,761)
- Receivables within one year +€1,761
up €1,761 (+10.0%), from €17,558 to €19,319
of which Trade receivables: +€1,577
- Profit (loss) carried forward -€83,325
down €83,325 (-98.9%), from €84,248 to €923
- Other debts +€62,308
up €62,308 (+7,408%), from €841 to €63,149
- Tax, wage and social debts +€14,580
up €14,580 (+516%), from €2,828 to €17,408
- Gross operating margin -€7,468
down €7,468 (-17.5%), from €42,786 to €35,318
- Taxes -€1,541
down €1,541 (-17.4%), from €8,857 to €7,316
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 | €91,392 | €85,130 | -€6,262 | -6.9% |
| Fixed assets | 21/28 | €1,928 | €1,051 | -€878 | -45.5% |
| Tangible fixed assets | 22/27 | €1,928 | €1,051 | -€878 | -45.5% |
| Plant, machinery and equipment | 23 | €1,928 | €1,051 | -€878 | -45.5% |
| Current assets | 29/58 | €89,464 | €84,079 | -€5,385 | -6.0% |
| Amounts receivable within one year | 40/41 | €17,558 | €19,319 | +€1,761 | +10.0% |
| Trade receivables | 40 | €6,415 | €7,992 | +€1,577 | +24.6% |
| Other amounts receivable | 41 | €11,143 | €11,327 | +€184 | +1.7% |
| Cash at bank and in hand | 54/58 | €70,723 | €63,510 | -€7,213 | -10.2% |
| Deferred charges and accrued income | 490/1 | €1,183 | €1,250 | +€67 | +5.7% |
| Total equity and liabilities | 10/49 | €91,392 | €85,130 | -€6,262 | -6.9% |
| Equity | 10/15 | €87,248 | €3,923 | -€83,325 | -95.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,248 | €923 | -€83,325 | -98.9% |
| Amounts payable | 17/49 | €4,145 | €81,207 | +€77,062 | +1,859% |
| Amounts payable within one year | 42/48 | €4,145 | €81,207 | +€77,062 | +1,859% |
| Trade debts | 44 | €476 | €650 | +€174 | +36.6% |
| Suppliers | 440/4 | €476 | €650 | +€174 | +36.6% |
| Taxes, remuneration and social security | 45 | €2,828 | €17,408 | +€14,580 | +516% |
| Taxes | 450/3 | €2,828 | €17,408 | +€14,580 | +516% |
| Other amounts payable | 47/48 | €841 | €63,149 | +€62,308 | +7,408% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €878 | +€173 | +24.6% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €42,786 | €35,318 | -€7,468 | -17.5% |
| Operating profit (loss) | 9901 | €42,082 | €34,041 | -€8,041 | -19.1% |
| Financial income | 75/76B | - | €300 | +€300 | |
| Recurring financial income | 75 | - | €300 | +€300 | |
| Financial charges | 65/66B | €65 | €55 | -€9 | -14.1% |
| Recurring financial charges | 65 | €65 | €55 | -€9 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €42,018 | €34,286 | -€7,732 | -18.4% |
| Income taxes | 67/77 | €8,857 | €7,316 | -€1,541 | -17.4% |
| Profit (loss) for the period | 9904 | €33,161 | €26,970 | -€6,192 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,161 | €26,970 | -€6,192 | -18.7% |
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 23 October 2026 via checked.be.