MANTICO: 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.
MANTICO
Largest movements
- Current investments +€400,000
new in 2025: €400,000
- Cash +€245,162
up €245,162 (+17.4%), from €1.4m to €1.7m
mainly Net result for the year (+€570,160) and Trade debts (+€335,060)
- Tangible fixed assets +€196,004
up €196,004 (+44.3%), from €442,031 to €638,035
of which Furniture and vehicles: +€205,262
- Receivables within one year +€151,974
up €151,974 (+31.3%), from €486,136 to €638,109
of which Trade receivables: +€147,015
- Trade debts +€335,060
up €335,060 (+51.8%), from €646,904 to €981,964
- Profit (loss) carried forward +€220,160
up €220,160 (+22.0%), from €1.0m to €1.2m
- Other debts +€211,561
up €211,561 (+3,275%), from €6,460 to €218,021
- Debts after one year +€128,300
up €128,300 (+47.6%), from €269,504 to €397,803
- Tax, wage and social debts +€54,397
up €54,397 (+13.3%), from €409,958 to €464,354
of which Taxes: +€58,423
- Staff costs +€49,829
up €49,829 (+25.4%), from €196,180 to €246,009
- Financial income +€46,815
up €46,815 (+3,164%), from €1,480 to €48,294
- Depreciation +€40,458
up €40,458 (+251%), from €16,104 to €56,563
- Gross operating margin -€36,593
down €36,593 (-3.3%), from €1.1m to €1.1m
- Taxes -€21,688
down €21,688 (-9.8%), from €221,000 to €199,312
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 | €2,351,071 | €3,343,199 | +€992,127 | +42.2% |
| Fixed assets | 21/28 | €455,326 | €651,330 | +€196,004 | +43.0% |
| Tangible fixed assets | 22/27 | €442,031 | €638,035 | +€196,004 | +44.3% |
| Land and buildings | 22 | €396,354 | €386,808 | -€9,545 | -2.4% |
| Plant, machinery and equipment | 23 | €18,678 | €18,965 | +€287 | +1.5% |
| Furniture and vehicles | 24 | €27,000 | €232,262 | +€205,262 | +760% |
| Financial fixed assets | 28 | €13,295 | €13,295 | = | 0.0% |
| Current assets | 29/58 | €1,895,746 | €2,691,869 | +€796,123 | +42.0% |
| Amounts receivable within one year | 40/41 | €486,136 | €638,109 | +€151,974 | +31.3% |
| Trade receivables | 40 | €365,301 | €512,316 | +€147,015 | +40.2% |
| Other amounts receivable | 41 | €120,835 | €125,794 | +€4,959 | +4.1% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €1,408,179 | €1,653,341 | +€245,162 | +17.4% |
| Deferred charges and accrued income | 490/1 | €1,431 | €418 | -€1,012 | -70.8% |
| Total equity and liabilities | 10/49 | €2,351,071 | €3,343,199 | +€992,127 | +42.2% |
| Equity | 10/15 | €1,001,950 | €1,222,110 | +€220,160 | +22.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,000,950 | €1,221,110 | +€220,160 | +22.0% |
| Amounts payable | 17/49 | €1,349,122 | €2,121,089 | +€771,967 | +57.2% |
| Amounts payable after more than one year | 17 | €269,504 | €397,803 | +€128,300 | +47.6% |
| Financial debts | 170/4 | €269,504 | €397,803 | +€128,300 | +47.6% |
| Amounts payable within one year | 42/48 | €1,079,618 | €1,723,285 | +€643,667 | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €16,296 | €58,947 | +€42,650 | +262% |
| Trade debts | 44 | €646,904 | €981,964 | +€335,060 | +51.8% |
| Suppliers | 440/4 | €646,904 | €981,964 | +€335,060 | +51.8% |
| Taxes, remuneration and social security | 45 | €409,958 | €464,354 | +€54,397 | +13.3% |
| Taxes | 450/3 | €388,500 | €446,923 | +€58,423 | +15.0% |
| Remuneration and social security | 454/9 | €21,458 | €17,431 | -€4,026 | -18.8% |
| Other amounts payable | 47/48 | €6,460 | €218,021 | +€211,561 | +3,275% |
| Remuneration, social security and pensions | 62 | €196,180 | €246,009 | +€49,829 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,104 | €56,563 | +€40,458 | +251% |
| Other operating charges | 640/8 | €1,434 | €2,098 | +€665 | +46.4% |
| Non-recurring operating charges | 66A | €5,616 | - | -€5,616 | |
| Gross operating margin | 9900 | €1,092,547 | €1,055,954 | -€36,593 | -3.3% |
| Operating profit (loss) | 9901 | €873,214 | €751,284 | -€121,930 | -14.0% |
| Financial income | 75/76B | €1,480 | €48,294 | +€46,815 | +3,164% |
| Recurring financial income | 75 | €1,480 | €48,294 | +€46,815 | +3,164% |
| Financial charges | 65/66B | €14,014 | €30,106 | +€16,092 | +115% |
| Recurring financial charges | 65 | €14,014 | €30,106 | +€16,092 | +115% |
| Profit (loss) for the period before taxes | 9903 | €860,679 | €769,472 | -€91,206 | -10.6% |
| Income taxes | 67/77 | €221,000 | €199,312 | -€21,688 | -9.8% |
| Profit (loss) for the period | 9904 | €639,679 | €570,160 | -€69,519 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €639,679 | €570,160 | -€69,519 | -10.9% |
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 16 October 2026 via checked.be.