MANTECH: 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.
MANTECH
Largest movements
- Tangible fixed assets -€69,282
down €69,282 (-8.2%), from €841,009 to €771,727
of which Land and buildings: -€49,266
- Receivables within one year -€38,735
down €38,735 (-76.1%), from €50,890 to €12,155
- Financial fixed assets +€20,000
new in 2025: €20,000
- Cash +€17,037
up €17,037 (+21.8%), from €78,269 to €95,306
mainly Depreciation (+€69,282) and Receivables within one year (+€38,735)
- Debts after one year -€32,353
down €32,353 (-7.5%), from €431,372 to €399,020
- Reserves -€20,565
down €20,565 (-19.0%), from €108,195 to €87,630
of which Distributable reserves: -€20,565
- Other debts -€12,360
down €12,360 (-4.0%), from €308,542 to €296,182
- Current portion of long-term debt -€10,165
down €10,165 (-23.9%), from €42,518 to €32,353
- Gross operating margin -€121,016
down €121,016 (-67.1%), from €180,442 to €59,425
- Depreciation +€11,259
up €11,259 (+19.4%), from €58,023 to €69,282
- Other operating charges -€2,138
down €2,138 (-44.0%), from €4,864 to €2,725
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 | €970,168 | €899,188 | -€70,980 | -7.3% |
| Fixed assets | 21/28 | €841,009 | €791,727 | -€49,282 | -5.9% |
| Tangible fixed assets | 22/27 | €841,009 | €771,727 | -€69,282 | -8.2% |
| Land and buildings | 22 | €753,215 | €703,949 | -€49,266 | -6.5% |
| Furniture and vehicles | 24 | €87,794 | €67,778 | -€20,016 | -22.8% |
| Financial fixed assets | 28 | - | €20,000 | +€20,000 | |
| Current assets | 29/58 | €129,159 | €107,461 | -€21,698 | -16.8% |
| Amounts receivable within one year | 40/41 | €50,890 | €12,155 | -€38,735 | -76.1% |
| Trade receivables | 40 | €50,890 | €12,155 | -€38,735 | -76.1% |
| Cash at bank and in hand | 54/58 | €78,269 | €95,306 | +€17,037 | +21.8% |
| Total equity and liabilities | 10/49 | €970,168 | €899,188 | -€70,980 | -7.3% |
| Equity | 10/15 | €182,565 | €162,000 | -€20,565 | -11.3% |
| Contributions | 10/11 | €74,370 | €74,370 | = | 0.0% |
| Reserves | 13 | €108,195 | €87,630 | -€20,565 | -19.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €108,195 | €87,630 | -€20,565 | -19.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €787,603 | €737,188 | -€50,415 | -6.4% |
| Amounts payable after more than one year | 17 | €431,372 | €399,020 | -€32,353 | -7.5% |
| Financial debts | 170/4 | €431,372 | €399,020 | -€32,353 | -7.5% |
| Amounts payable within one year | 42/48 | €356,231 | €338,169 | -€18,062 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €42,518 | €32,353 | -€10,165 | -23.9% |
| Trade debts | 44 | €737 | €5,164 | +€4,427 | +600.4% |
| Suppliers | 440/4 | €737 | €5,164 | +€4,427 | +600.4% |
| Taxes, remuneration and social security | 45 | €4,433 | €4,470 | +€36 | +0.8% |
| Taxes | 450/3 | €1,933 | €1,970 | +€36 | +1.9% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €308,542 | €296,182 | -€12,360 | -4.0% |
| Non-recurring operating income | 76A | €7,049 | €0 | -€7,049 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,023 | €69,282 | +€11,259 | +19.4% |
| Other operating charges | 640/8 | €4,864 | €2,725 | -€2,138 | -44.0% |
| Gross operating margin | 9900 | €180,442 | €59,425 | -€121,016 | -67.1% |
| Operating profit (loss) | 9901 | €117,555 | -€12,582 | -€130,137 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €7,837 | €6,882 | -€955 | -12.2% |
| Recurring financial charges | 65 | €7,837 | €6,882 | -€955 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €109,718 | -€19,464 | -€129,182 | |
| Income taxes | 67/77 | €218 | €268 | +€50 | +22.9% |
| Profit (loss) for the period | 9904 | €109,500 | -€19,732 | -€129,232 | |
| Profit (loss) for the period to be appropriated | 9905 | €109,500 | -€19,732 | -€129,232 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.