MANREET: what changed
MANREET
Largest movements
- Cash +€99,095
up €99,095 (+170%), from €58,438 to €157,533
mainly Net result for the year (+€65,057) and Trade debts (+€30,751)
- Financial fixed assets +€13,650
up €13,650 (+910%), from €1,500 to €15,150
- Stocks and contracts +€10,121
up €10,121 (+194%), from €5,206 to €15,327
- Profit (loss) carried forward +€65,057
up €65,057 (+139%), from €46,710 to €111,767
- Trade debts +€30,751
up €30,751 (+1,324%), from €2,323 to €33,074
- Tax, wage and social debts +€25,279
up €25,279 (+138%), from €18,355 to €43,634
of which Taxes: +€23,932
- Gross operating margin +€62,621
up €62,621 (+79.5%), from €78,741 to €141,362
- Staff costs +€28,545
up €28,545 (+175%), from €16,319 to €44,865
- Other operating charges +€7,811
up €7,811 (+8,004%), from €98 to €7,909
- Taxes +€6,476
up €6,476 (+42.6%), from €15,210 to €21,686
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,668 | €194,755 | +€121,087 | +164% |
| Fixed assets | 21/28 | €10,024 | €21,896 | +€11,872 | +118% |
| Intangible fixed assets | 21 | €4,000 | €3,200 | -€800 | -20.0% |
| Tangible fixed assets | 22/27 | €4,524 | €3,546 | -€978 | -21.6% |
| Furniture and vehicles | 24 | €4,524 | €3,546 | -€978 | -21.6% |
| Financial fixed assets | 28 | €1,500 | €15,150 | +€13,650 | +910% |
| Current assets | 29/58 | €63,644 | €172,859 | +€109,215 | +172% |
| Stocks and contracts in progress | 3 | €5,206 | €15,327 | +€10,121 | +194% |
| Stocks | 30/36 | €5,206 | €15,327 | +€10,121 | +194% |
| Cash at bank and in hand | 54/58 | €58,438 | €157,533 | +€99,095 | +170% |
| Total equity and liabilities | 10/49 | €73,668 | €194,755 | +€121,087 | +164% |
| Equity | 10/15 | €52,990 | €118,047 | +€65,057 | +123% |
| Contributions | 10/11 | €6,280 | €6,280 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,710 | €111,767 | +€65,057 | +139% |
| Amounts payable | 17/49 | €20,678 | €76,708 | +€56,030 | +271% |
| Amounts payable within one year | 42/48 | €20,678 | €76,708 | +€56,030 | +271% |
| Trade debts | 44 | €2,323 | €33,074 | +€30,751 | +1,324% |
| Suppliers | 440/4 | €2,323 | €33,074 | +€30,751 | +1,324% |
| Taxes, remuneration and social security | 45 | €18,355 | €43,634 | +€25,279 | +138% |
| Taxes | 450/3 | €17,227 | €41,159 | +€23,932 | +139% |
| Remuneration and social security | 454/9 | €1,128 | €2,475 | +€1,347 | +119% |
| Remuneration, social security and pensions | 62 | €16,319 | €44,865 | +€28,545 | +175% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €371 | €1,778 | +€1,407 | +379% |
| Other operating charges | 640/8 | €98 | €7,909 | +€7,811 | +8,004% |
| Gross operating margin | 9900 | €78,741 | €141,362 | +€62,621 | +79.5% |
| Operating profit (loss) | 9901 | €61,953 | €86,810 | +€24,857 | +40.1% |
| Financial charges | 65/66B | €33 | €68 | +€35 | +108% |
| Recurring financial charges | 65 | €33 | €68 | +€35 | +108% |
| Profit (loss) for the period before taxes | 9903 | €61,920 | €86,742 | +€24,822 | +40.1% |
| Income taxes | 67/77 | €15,210 | €21,686 | +€6,476 | +42.6% |
| Profit (loss) for the period | 9904 | €46,710 | €65,057 | +€18,347 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,710 | €65,057 | +€18,347 | +39.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.