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
- Cash +€29,113
up €29,113 (+60.5%), from €48,097 to €77,210
mainly Net result for the year (+€31,698) and Depreciation (+€5,270)
- Receivables within one year +€9,107
up €9,107 (+100.7%), from €9,040 to €18,148
- Tangible fixed assets -€2,448
down €2,448 (-14.1%), from €17,354 to €14,907
of which Plant, machinery and equipment: -€2,385
- Reserves +€31,698
up €31,698 (+38.4%), from €82,630 to €114,328
of which Distributable reserves: +€31,698
- Trade debts +€3,704
up €3,704 (+112.2%), from €3,301 to €7,006
- Other debts -€2,475
down €2,475 (-11.3%), from €21,943 to €19,468
- Tax, wage and social debts +€1,828
up €1,828 (+18.5%), from €9,854 to €11,682
of which Taxes: +€5,497
- Gross operating margin +€44,056
up €44,056 (+229.7%), from €19,176 to €63,232
- Staff costs -€14,968
down €14,968 (-45.9%), from €32,642 to €17,673
- Taxes +€9,059
up €9,059, from €0 to €9,059
- Financial income +€1,737
up €1,737 (+1739.5%), from €100 to €1,837
- Other operating charges +€797
up €797 (+253.9%), from €314 to €1,110
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 | €132,729 | €167,484 | +€34,755 | +26.2% |
| Fixed assets | 21/28 | €18,014 | €15,567 | -€2,448 | -13.6% |
| Tangible fixed assets | 22/27 | €17,354 | €14,907 | -€2,448 | -14.1% |
| Land and buildings | 22 | €5,613 | €7,366 | +€1,752 | +31.2% |
| Plant, machinery and equipment | 23 | €6,095 | €3,710 | -€2,385 | -39.1% |
| Furniture and vehicles | 24 | €5,646 | €3,831 | -€1,815 | -32.2% |
| Financial fixed assets | 28 | €660 | €660 | = | 0.0% |
| Current assets | 29/58 | €114,715 | €151,917 | +€37,202 | +32.4% |
| Stocks and contracts in progress | 3 | €56,559 | €56,559 | = | 0.0% |
| Stocks | 30/36 | €56,559 | €56,559 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,040 | €18,148 | +€9,107 | +100.7% |
| Trade receivables | 40 | €9,040 | €18,148 | +€9,107 | +100.7% |
| Cash at bank and in hand | 54/58 | €48,097 | €77,210 | +€29,113 | +60.5% |
| Deferred charges and accrued income | 490/1 | €1,018 | €0 | -€1,018 | -100.0% |
| Total equity and liabilities | 10/49 | €132,729 | €167,484 | +€34,755 | +26.2% |
| Equity | 10/15 | €97,630 | €129,328 | +€31,698 | +32.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €82,630 | €114,328 | +€31,698 | +38.4% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €80,630 | €112,328 | +€31,698 | +39.3% |
| Amounts payable | 17/49 | €35,099 | €38,155 | +€3,057 | +8.7% |
| Amounts payable within one year | 42/48 | €35,099 | €38,155 | +€3,057 | +8.7% |
| Trade debts | 44 | €3,301 | €7,006 | +€3,704 | +112.2% |
| Suppliers | 440/4 | €3,301 | €7,006 | +€3,704 | +112.2% |
| Taxes, remuneration and social security | 45 | €9,854 | €11,682 | +€1,828 | +18.5% |
| Taxes | 450/3 | €6,185 | €11,682 | +€5,497 | +88.9% |
| Remuneration and social security | 454/9 | €3,669 | €0 | -€3,669 | -100.0% |
| Other amounts payable | 47/48 | €21,943 | €19,468 | -€2,475 | -11.3% |
| Remuneration, social security and pensions | 62 | €32,642 | €17,673 | -€14,968 | -45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,644 | €5,270 | +€626 | +13.5% |
| Other operating charges | 640/8 | €314 | €1,110 | +€797 | +253.9% |
| Gross operating margin | 9900 | €19,176 | €63,232 | +€44,056 | +229.7% |
| Operating profit (loss) | 9901 | -€18,423 | €39,178 | +€57,601 | |
| Financial income | 75/76B | €100 | €1,837 | +€1,737 | +1739.5% |
| Recurring financial income | 75 | €100 | €1,837 | +€1,737 | +1739.5% |
| Financial charges | 65/66B | €294 | €258 | -€36 | -12.3% |
| Recurring financial charges | 65 | €294 | €258 | -€36 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,618 | €40,757 | +€59,374 | |
| Income taxes | 67/77 | €0 | €9,059 | +€9,059 | |
| Profit (loss) for the period | 9904 | -€18,618 | €31,698 | +€50,316 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,618 | €31,698 | +€50,316 |
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 9 October 2026 via checked.be.