MANT: 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.
MANT
Largest movements
- Tangible fixed assets -€27,056
down €27,056 (-30.2%), from €89,557 to €62,501
of which Plant, machinery and equipment: -€14,457
- Cash -€21,208
down €21,208 (-45.6%), from €46,473 to €25,265
mainly Debts after one year (-€22,005) and Tax, wage and social debts (-€21,093)
- Debts after one year -€22,005
down €22,005 (-85.9%), from €25,621 to €3,617
- Tax, wage and social debts -€21,093
down €21,093 (-71.7%), from €29,401 to €8,308
- Reserves +€7,900
up €7,900 (+1.5%), from €539,800 to €547,700
- Gross operating margin -€97,944
down €97,944 (-66.9%), from €146,455 to €48,511
- Taxes -€31,154
down €31,154 (-86.8%), from €35,885 to €4,731
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 | €646,424 | €605,307 | -€41,117 | -6.4% |
| Fixed assets | 21/28 | €434,865 | €407,809 | -€27,056 | -6.2% |
| Tangible fixed assets | 22/27 | €89,557 | €62,501 | -€27,056 | -30.2% |
| Plant, machinery and equipment | 23 | €31,328 | €16,871 | -€14,457 | -46.1% |
| Furniture and vehicles | 24 | €23,578 | €16,328 | -€7,250 | -30.7% |
| Leasing and similar rights | 25 | €34,652 | €21,052 | -€13,600 | -39.2% |
| Other tangible fixed assets | 26 | - | €8,251 | +€8,251 | |
| Financial fixed assets | 28 | €345,308 | €345,308 | = | 0.0% |
| Current assets | 29/58 | €211,559 | €197,497 | -€14,061 | -6.6% |
| Stocks and contracts in progress | 3 | €24,125 | €26,000 | +€1,875 | +7.8% |
| Stocks | 30/36 | €24,125 | €26,000 | +€1,875 | +7.8% |
| Amounts receivable within one year | 40/41 | €139,534 | €144,885 | +€5,351 | +3.8% |
| Trade receivables | 40 | €112,593 | €119,907 | +€7,314 | +6.5% |
| Other amounts receivable | 41 | €26,941 | €24,978 | -€1,963 | -7.3% |
| Cash at bank and in hand | 54/58 | €46,473 | €25,265 | -€21,208 | -45.6% |
| Deferred charges and accrued income | 490/1 | €1,427 | €1,348 | -€79 | -5.5% |
| Total equity and liabilities | 10/49 | €646,424 | €605,307 | -€41,117 | -6.4% |
| Equity | 10/15 | €562,056 | €569,973 | +€7,917 | +1.4% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €539,800 | €547,700 | +€7,900 | +1.5% |
| Distributable reserves | 133 | €539,800 | €547,700 | +€7,900 | +1.5% |
| Profit (loss) carried forward | 14 | €256 | €273 | +€17 | +6.6% |
| Amounts payable | 17/49 | €84,368 | €35,334 | -€49,034 | -58.1% |
| Amounts payable after more than one year | 17 | €25,621 | €3,617 | -€22,005 | -85.9% |
| Financial debts | 170/4 | €25,621 | €3,617 | -€22,005 | -85.9% |
| Amounts payable within one year | 42/48 | €58,747 | €31,717 | -€27,030 | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €28,004 | €22,005 | -€6,000 | -21.4% |
| Trade debts | 44 | €513 | €387 | -€126 | -24.5% |
| Suppliers | 440/4 | €513 | €387 | -€126 | -24.5% |
| Taxes, remuneration and social security | 45 | €29,401 | €8,308 | -€21,093 | -71.7% |
| Taxes | 450/3 | €29,401 | €8,308 | -€21,093 | -71.7% |
| Other amounts payable | 47/48 | €828 | €1,017 | +€189 | +22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,532 | €35,607 | +€1,074 | +3.1% |
| Other operating charges | 640/8 | €1,074 | €972 | -€101 | -9.4% |
| Gross operating margin | 9900 | €146,455 | €48,511 | -€97,944 | -66.9% |
| Operating profit (loss) | 9901 | €110,849 | €11,932 | -€98,917 | -89.2% |
| Financial income | 75/76B | €1,708 | €1,348 | -€360 | -21.1% |
| Recurring financial income | 75 | €1,708 | €1,348 | -€360 | -21.1% |
| Financial charges | 65/66B | €955 | €632 | -€323 | -33.8% |
| Recurring financial charges | 65 | €955 | €632 | -€323 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €111,602 | €12,648 | -€98,954 | -88.7% |
| Income taxes | 67/77 | €35,885 | €4,731 | -€31,154 | -86.8% |
| Profit (loss) for the period | 9904 | €75,717 | €7,917 | -€67,800 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €75,717 | €7,917 | -€67,800 | -89.5% |
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 18 October 2026 via checked.be.