MANTUS: 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.
MANTUS
Largest movements
- Receivables within one year -€13,816
down €13,816 (-16.9%), from €81,549 to €67,733
of which Other amounts receivable: -€9,011
- Tangible fixed assets -€11,902
down €11,902 (-2.6%), from €463,385 to €451,483
- Reserves -€41,663
down €41,663 (-28.4%), from €146,600 to €104,937
of which Distributable reserves: -€41,663
- Other debts +€41,052
up €41,052 (+925.3%), from €4,436 to €45,489
- Debts after one year -€22,618
down €22,618 (-6.2%), from €362,566 to €339,948
- Depreciation -€14,782
down €14,782 (-52.8%), from €27,985 to €13,202
- Gross operating margin -€12,894
down €12,894 (-15.8%), from €81,641 to €68,747
- Taxes +€6,303
up €6,303 (+138.1%), from €4,563 to €10,867
- Other operating charges +€1,064
up €1,064 (+48.4%), from €2,197 to €3,261
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 | €568,029 | €547,772 | -€20,257 | -3.6% |
| Fixed assets | 21/28 | €463,385 | €451,483 | -€11,902 | -2.6% |
| Tangible fixed assets | 22/27 | €463,385 | €451,483 | -€11,902 | -2.6% |
| Land and buildings | 22 | €463,385 | €451,483 | -€11,902 | -2.6% |
| Current assets | 29/58 | €104,644 | €96,289 | -€8,355 | -8.0% |
| Stocks and contracts in progress | 3 | €5,912 | €5,912 | = | 0.0% |
| Stocks | 30/36 | €5,912 | €5,912 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,549 | €67,733 | -€13,816 | -16.9% |
| Trade receivables | 40 | €66,613 | €61,808 | -€4,805 | -7.2% |
| Other amounts receivable | 41 | €14,936 | €5,925 | -€9,011 | -60.3% |
| Cash at bank and in hand | 54/58 | €17,183 | €21,344 | +€4,161 | +24.2% |
| Deferred charges and accrued income | 490/1 | - | €1,300 | +€1,300 | |
| Total equity and liabilities | 10/49 | €568,029 | €547,772 | -€20,257 | -3.6% |
| Equity | 10/15 | €152,800 | €111,137 | -€41,663 | -27.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €146,600 | €104,937 | -€41,663 | -28.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €144,740 | €103,077 | -€41,663 | -28.8% |
| Amounts payable | 17/49 | €415,229 | €436,635 | +€21,406 | +5.2% |
| Amounts payable after more than one year | 17 | €362,566 | €339,948 | -€22,618 | -6.2% |
| Financial debts | 170/4 | €362,566 | €339,948 | -€22,618 | -6.2% |
| Amounts payable within one year | 42/48 | €51,950 | €96,687 | +€44,737 | +86.1% |
| Current portion of amounts payable after more than one year | 42 | €25,074 | €26,023 | +€949 | +3.8% |
| Trade debts | 44 | €19,824 | €24,308 | +€4,484 | +22.6% |
| Suppliers | 440/4 | €19,824 | €24,308 | +€4,484 | +22.6% |
| Taxes, remuneration and social security | 45 | €2,615 | €867 | -€1,749 | -66.9% |
| Taxes | 450/3 | €2,615 | €867 | -€1,749 | -66.9% |
| Other amounts payable | 47/48 | €4,436 | €45,489 | +€41,052 | +925.3% |
| Accrued charges and deferred income | 492/3 | €713 | - | -€713 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,985 | €13,202 | -€14,782 | -52.8% |
| Other operating charges | 640/8 | €2,197 | €3,261 | +€1,064 | +48.4% |
| Gross operating margin | 9900 | €81,641 | €68,747 | -€12,894 | -15.8% |
| Operating profit (loss) | 9901 | €51,460 | €52,283 | +€824 | +1.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €17,593 | €16,889 | -€704 | -4.0% |
| Recurring financial charges | 65 | €17,593 | €16,889 | -€704 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €33,866 | €35,395 | +€1,528 | +4.5% |
| Income taxes | 67/77 | €4,563 | €10,867 | +€6,303 | +138.1% |
| Profit (loss) for the period | 9904 | €29,303 | €24,528 | -€4,775 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,303 | €24,528 | -€4,775 | -16.3% |
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 7 October 2026 via checked.be.