Manon Holding: 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 Holding
Largest movements
- Financial fixed assets +€16.7m
up €16.7m (+20.3%), from €82.2m to €98.9m
- Current investments -€7.2m
down €7.2m (-4.5%), from €158.5m to €151.3m
- Profit (loss) carried forward +€19.9m
up €19.9m (+75.8%), from €26.2m to €46.1m
- Tax, wage and social debts -€9.9m
down €9.9m (-98.1%), from €10.1m to €188,007
of which Taxes: -€9.9m
- Financial charges -€51.6m
down €51.6m (-99.0%), from €52.1m to €518,849
of which Non-recurring financial charges: -€51.6m
- Financial income +€14.1m
up €14.1m (+200%), from €7.0m to €21.1m
of which Non-recurring financial income: +€16.2m
- Gross operating margin +€19,728
up €19,728 (+22.9%), from -€85,974 to -€66,246
- Taxes +€3,068
up €3,068 (+0.5%), from €662,318 to €665,386
- Other operating charges -€1,950
no longer reported in 2025 (was €1,950)
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 | €241,642,184 | €251,628,510 | +€10.0m | +4.1% |
| Fixed assets | 21/28 | €82,235,857 | €98,948,582 | +€16.7m | +20.3% |
| Financial fixed assets | 28 | €82,235,857 | €98,948,582 | +€16.7m | +20.3% |
| Current assets | 29/58 | €159,406,327 | €152,679,928 | -€6.7m | -4.2% |
| Amounts receivable within one year | 40/41 | €493,400 | €493,660 | +€260 | +0.1% |
| Other amounts receivable | 41 | €493,400 | €493,660 | +€260 | +0.1% |
| Current investments | 50/53 | €158,501,958 | €151,331,135 | -€7.2m | -4.5% |
| Cash at bank and in hand | 54/58 | €208,204 | €785,980 | +€577,777 | +278% |
| Deferred charges and accrued income | 490/1 | €202,766 | €69,153 | -€133,613 | -65.9% |
| Total equity and liabilities | 10/49 | €241,642,184 | €251,628,510 | +€10.0m | +4.1% |
| Equity | 10/15 | €205,316,686 | €225,180,131 | +€19.9m | +9.7% |
| Contributions | 10/11 | €79,445,000 | €79,445,000 | = | 0.0% |
| Reserves | 13 | €99,673,800 | €99,673,800 | = | 0.0% |
| Distributable reserves | 133 | €99,673,800 | €99,673,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,197,886 | €46,061,331 | +€19.9m | +75.8% |
| Amounts payable | 17/49 | €36,325,498 | €26,448,380 | -€9.9m | -27.2% |
| Amounts payable after more than one year | 17 | €26,069,024 | €26,069,024 | = | 0.0% |
| Other amounts payable | 178/9 | €26,069,024 | €26,069,024 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,256,474 | €379,355 | -€9.9m | -96.3% |
| Trade debts | 44 | €8,865 | €8,865 | = | 0.0% |
| Suppliers | 440/4 | €8,865 | €8,865 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,065,125 | €188,007 | -€9.9m | -98.1% |
| Taxes | 450/3 | €10,062,125 | €185,007 | -€9.9m | -98.2% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €182,483 | €182,483 | = | 0.0% |
| Other operating charges | 640/8 | €1,950 | - | -€1,950 | |
| Gross operating margin | 9900 | -€85,974 | -€66,246 | +€19,728 | +22.9% |
| Operating profit (loss) | 9901 | -€87,924 | -€66,246 | +€21,678 | +24.7% |
| Financial income | 75/76B | €7,033,558 | €21,113,926 | +€14.1m | +200% |
| Recurring financial income | 75 | €7,033,558 | €4,948,027 | -€2.1m | -29.7% |
| Non-recurring financial income | 76B | - | €16,165,899 | +€16.2m | |
| Financial charges | 65/66B | €52,092,036 | €518,849 | -€51.6m | -99.0% |
| Recurring financial charges | 65 | €513,634 | €518,849 | +€5,216 | +1.0% |
| Non-recurring financial charges | 66B | €51,578,402 | - | -€51.6m | |
| Profit (loss) for the period before taxes | 9903 | -€45,146,402 | €20,528,831 | +€65.7m | |
| Income taxes | 67/77 | €662,318 | €665,386 | +€3,068 | +0.5% |
| Profit (loss) for the period | 9904 | -€45,808,720 | €19,863,445 | +€65.7m | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,808,720 | €19,863,445 | +€65.7m |
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 27 October 2026 via checked.be.