MANTRA: 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.
MANTRA
Largest movements
- Receivables within one year +€134,351
up €134,351 (+272%), from €49,406 to €183,757
of which Other amounts receivable: +€110,609
- Cash -€76,594
down €76,594 (-49.8%), from €153,733 to €77,139
mainly Contributions, distributions and other (-€170,588) and Receivables within one year (-€134,351)
- Deferred charges and accrued income -€8,856
down €8,856 (-92.0%), from €9,624 to €768
- Other debts +€170,588
new in 2025: €170,588
- Reserves -€103,742
down €103,742 (-66.1%), from €157,000 to €53,258
- Tax, wage and social debts -€16,871
down €16,871 (-36.2%), from €46,619 to €29,748
of which Taxes: -€17,106
- Financial income +€4,214
up €4,214 (+245%), from €1,718 to €5,932
- Gross operating margin +€4,005
up €4,005 (+5.3%), from €75,099 to €79,104
- Taxes +€1,445
up €1,445 (+9.3%), from €15,529 to €16,974
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 | €214,076 | €262,368 | +€48,293 | +22.6% |
| Fixed assets | 21/28 | €1,313 | €705 | -€608 | -46.3% |
| Tangible fixed assets | 22/27 | €1,313 | €705 | -€608 | -46.3% |
| Furniture and vehicles | 24 | €1,313 | €705 | -€608 | -46.3% |
| Current assets | 29/58 | €212,763 | €261,664 | +€48,901 | +23.0% |
| Amounts receivable within one year | 40/41 | €49,406 | €183,757 | +€134,351 | +272% |
| Trade receivables | 40 | €14,301 | €38,042 | +€23,742 | +166% |
| Other amounts receivable | 41 | €35,105 | €145,715 | +€110,609 | +315% |
| Cash at bank and in hand | 54/58 | €153,733 | €77,139 | -€76,594 | -49.8% |
| Deferred charges and accrued income | 490/1 | €9,624 | €768 | -€8,856 | -92.0% |
| Total equity and liabilities | 10/49 | €214,076 | €262,368 | +€48,293 | +22.6% |
| Equity | 10/15 | €162,039 | €58,258 | -€103,780 | -64.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €157,000 | €53,258 | -€103,742 | -66.1% |
| Distributable reserves | 133 | €157,000 | €53,258 | -€103,742 | -66.1% |
| Profit (loss) carried forward | 14 | €39 | €0 | -€39 | -100% |
| Amounts payable | 17/49 | €52,037 | €204,110 | +€152,073 | +292% |
| Amounts payable within one year | 42/48 | €52,037 | €204,110 | +€152,073 | +292% |
| Trade debts | 44 | €5,418 | €3,773 | -€1,645 | -30.4% |
| Suppliers | 440/4 | €5,418 | €3,773 | -€1,645 | -30.4% |
| Taxes, remuneration and social security | 45 | €46,619 | €29,748 | -€16,871 | -36.2% |
| Taxes | 450/3 | €44,159 | €27,053 | -€17,106 | -38.7% |
| Remuneration and social security | 454/9 | €2,460 | €2,695 | +€235 | +9.5% |
| Other amounts payable | 47/48 | - | €170,588 | +€170,588 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €512 | €608 | +€96 | +18.8% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €75,099 | €79,104 | +€4,005 | +5.3% |
| Operating profit (loss) | 9901 | €74,587 | €78,096 | +€3,509 | +4.7% |
| Financial income | 75/76B | €1,718 | €5,932 | +€4,214 | +245% |
| Recurring financial income | 75 | €1,718 | €5,932 | +€4,214 | +245% |
| Financial charges | 65/66B | €377 | €246 | -€131 | -34.7% |
| Recurring financial charges | 65 | €377 | €246 | -€131 | -34.7% |
| Profit (loss) for the period before taxes | 9903 | €75,929 | €83,782 | +€7,854 | +10.3% |
| Income taxes | 67/77 | €15,529 | €16,974 | +€1,445 | +9.3% |
| Profit (loss) for the period | 9904 | €60,399 | €66,808 | +€6,409 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €60,399 | €66,808 | +€6,409 | +10.6% |
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 13 October 2026 via checked.be.