MANTACO: what changed
Two fiscal 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.
MANTACO
Largest movements
- Cash +€27,552
up €27,552 (+40.2%), from €68,595 to €96,147
mainly Net result for the year (+€48,068) and Depreciation (+€19,029)
- Receivables within one year +€16,086
up €16,086 (+44.0%), from €36,570 to €52,656
of which Other amounts receivable: +€15,762
- Tangible fixed assets -€16,069
down €16,069 (-5.1%), from €313,826 to €297,757
of which Other tangible fixed assets: -€15,541
- Reserves +€48,060
up €48,060 (+16.6%), from €289,208 to €337,268
- Debts after one year -€24,971
down €24,971 (-38.7%), from €64,492 to €39,520
- Tax, wage and social debts +€4,811
up €4,811 (+14.7%), from €32,808 to €37,619
of which Taxes: +€4,811
- Gross operating margin -€58,201
down €58,201 (-39.3%), from €148,082 to €89,881
- Taxes -€22,143
down €22,143 (-54.9%), from €40,309 to €18,166
- Depreciation +€11,915
up €11,915 (+167.5%), from €7,113 to €19,029
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.
Cash bridge derived
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 | €421,644 | €449,321 | +€27,678 | +6.6% |
| Fixed assets | 21/28 | €314,581 | €298,512 | -€16,069 | -5.1% |
| Tangible fixed assets | 22/27 | €313,826 | €297,757 | -€16,069 | -5.1% |
| Plant, machinery and equipment | 23 | €1,337 | €378 | -€958 | -71.7% |
| Furniture and vehicles | 24 | €5,331 | €5,762 | +€431 | +8.1% |
| Other tangible fixed assets | 26 | €307,158 | €291,617 | -€15,541 | -5.1% |
| Financial fixed assets | 28 | €755 | €755 | = | 0.0% |
| Current assets | 29/58 | €107,063 | €150,809 | +€43,746 | +40.9% |
| Amounts receivable within one year | 40/41 | €36,570 | €52,656 | +€16,086 | +44.0% |
| Trade receivables | 40 | €29,979 | €30,304 | +€325 | +1.1% |
| Other amounts receivable | 41 | €6,591 | €22,353 | +€15,762 | +239.1% |
| Cash at bank and in hand | 54/58 | €68,595 | €96,147 | +€27,552 | +40.2% |
| Deferred charges and accrued income | 490/1 | €1,897 | €2,006 | +€109 | +5.7% |
| Total equity and liabilities | 10/49 | €421,644 | €449,321 | +€27,678 | +6.6% |
| Equity | 10/15 | €296,432 | €344,500 | +€48,068 | +16.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €289,208 | €337,268 | +€48,060 | +16.6% |
| Distributable reserves | 133 | €289,208 | €337,268 | +€48,060 | +16.6% |
| Profit (loss) carried forward | 14 | €1,024 | €1,032 | +€8 | +0.8% |
| Amounts payable | 17/49 | €125,212 | €104,821 | -€20,391 | -16.3% |
| Amounts payable after more than one year | 17 | €64,492 | €39,520 | -€24,971 | -38.7% |
| Financial debts | 170/4 | €64,492 | €39,520 | -€24,971 | -38.7% |
| Amounts payable within one year | 42/48 | €60,720 | €65,300 | +€4,581 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €25,872 | €27,005 | +€1,132 | +4.4% |
| Trade debts | 44 | €2,040 | €677 | -€1,363 | -66.8% |
| Suppliers | 440/4 | €2,040 | €677 | -€1,363 | -66.8% |
| Taxes, remuneration and social security | 45 | €32,808 | €37,619 | +€4,811 | +14.7% |
| Taxes | 450/3 | €32,808 | €37,619 | +€4,811 | +14.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Non-recurring operating income | 76A | €58,275 | €0 | -€58,275 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,113 | €19,029 | +€11,915 | +167.5% |
| Other operating charges | 640/8 | €980 | €1,009 | +€29 | +2.9% |
| Non-recurring operating charges | 66A | €41 | €0 | -€41 | -100.0% |
| Gross operating margin | 9900 | €148,082 | €89,881 | -€58,201 | -39.3% |
| Operating profit (loss) | 9901 | €139,948 | €69,844 | -€70,104 | -50.1% |
| Financial income | 75/76B | €764 | €1,147 | +€383 | +50.1% |
| Recurring financial income | 75 | €764 | €1,147 | +€383 | +50.1% |
| Financial charges | 65/66B | €4,776 | €4,757 | -€19 | -0.4% |
| Recurring financial charges | 65 | €4,776 | €4,757 | -€19 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €135,936 | €66,234 | -€69,702 | -51.3% |
| Income taxes | 67/77 | €40,309 | €18,166 | -€22,143 | -54.9% |
| Profit (loss) for the period | 9904 | €95,627 | €48,068 | -€47,559 | -49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €95,627 | €48,068 | -€47,559 | -49.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.