Mantas: 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.
Mantas
Largest movements
- Financial fixed assets +€75,000
up €75,000 (+50.0%), from €150,000 to €225,000
- Cash +€8,541
up €8,541 (+36.8%), from €23,207 to €31,747
mainly Net result for the year (+€121,487) and Depreciation (+€1,346)
- Receivables within one year +€2,865
new in 2025: €2,865
- Reserves +€121,487
up €121,487 (+208.7%), from €58,200 to €179,687
- Other debts -€20,760
no longer reported in 2025 (was €20,760)
- Debts after one year -€15,017
down €15,017 (-22.3%), from €67,192 to €52,175
- Financial income +€45,976
up €45,976 (+86.5%), from €53,170 to €99,146
- Gross operating margin -€2,260
down €2,260 (-5.7%), from €39,365 to €37,105
- Financial charges +€796
up €796 (+27.8%), from €2,861 to €3,657
- Taxes -€415
down €415 (-4.4%), from €9,438 to €9,023
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 | €176,770 | €261,949 | +€85,180 | +48.2% |
| Fixed assets | 21/28 | €153,503 | €227,157 | +€73,654 | +48.0% |
| Tangible fixed assets | 22/27 | €3,503 | €2,157 | -€1,346 | -38.4% |
| Plant, machinery and equipment | 23 | €895 | €296 | -€599 | -67.0% |
| Furniture and vehicles | 24 | €2,608 | €1,861 | -€747 | -28.6% |
| Financial fixed assets | 28 | €150,000 | €225,000 | +€75,000 | +50.0% |
| Current assets | 29/58 | €23,267 | €34,792 | +€11,526 | +49.5% |
| Amounts receivable within one year | 40/41 | - | €2,865 | +€2,865 | |
| Other amounts receivable | 41 | - | €2,865 | +€2,865 | |
| Cash at bank and in hand | 54/58 | €23,207 | €31,747 | +€8,541 | +36.8% |
| Deferred charges and accrued income | 490/1 | €60 | €180 | +€120 | +200.6% |
| Total equity and liabilities | 10/49 | €176,770 | €261,949 | +€85,180 | +48.2% |
| Equity | 10/15 | €59,200 | €180,687 | +€121,487 | +205.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €58,200 | €179,687 | +€121,487 | +208.7% |
| Distributable reserves | 133 | €58,200 | €179,687 | +€121,487 | +208.7% |
| Amounts payable | 17/49 | €117,570 | €81,262 | -€36,308 | -30.9% |
| Amounts payable after more than one year | 17 | €67,192 | €52,175 | -€15,017 | -22.3% |
| Financial debts | 170/4 | €67,192 | €52,175 | -€15,017 | -22.3% |
| Amounts payable within one year | 42/48 | €50,116 | €27,910 | -€22,206 | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €15,333 | €15,017 | -€316 | -2.1% |
| Trade debts | 44 | €299 | €246 | -€53 | -17.7% |
| Suppliers | 440/4 | €299 | €246 | -€53 | -17.7% |
| Taxes, remuneration and social security | 45 | €13,724 | €12,647 | -€1,077 | -7.8% |
| Taxes | 450/3 | €13,724 | €12,647 | -€1,077 | -7.8% |
| Other amounts payable | 47/48 | €20,760 | - | -€20,760 | |
| Accrued charges and deferred income | 492/3 | €262 | €1,177 | +€915 | +349.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,346 | €1,346 | = | 0.0% |
| Other operating charges | 640/8 | €690 | €737 | +€47 | +6.8% |
| Gross operating margin | 9900 | €39,365 | €37,105 | -€2,260 | -5.7% |
| Operating profit (loss) | 9901 | €37,329 | €35,021 | -€2,307 | -6.2% |
| Financial income | 75/76B | €53,170 | €99,146 | +€45,976 | +86.5% |
| Recurring financial income | 75 | €53,170 | €99,146 | +€45,976 | +86.5% |
| Financial charges | 65/66B | €2,861 | €3,657 | +€796 | +27.8% |
| Recurring financial charges | 65 | €2,861 | €3,657 | +€796 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €87,638 | €130,511 | +€42,873 | +48.9% |
| Income taxes | 67/77 | €9,438 | €9,023 | -€415 | -4.4% |
| Profit (loss) for the period | 9904 | €78,200 | €121,487 | +€43,288 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €78,200 | €121,487 | +€43,288 | +55.4% |
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.