MANU: 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.
MANU
Largest movements
- Current investments -€100,000
down €100,000 (-14.3%), from €699,993 to €599,993
- Cash +€63,692
up €63,692 (+44.0%), from €144,762 to €208,454
mainly Other debts (+€350,180) and Net result for the year (+€150,204)
- Receivables within one year +€16,730
up €16,730 (+75.4%), from €22,193 to €38,923
of which Other amounts receivable: +€11,656
- Reserves -€380,426
down €380,426 (-44.5%), from €854,216 to €473,790
- Other debts +€350,180
new in 2025: €350,180
- Taxes -€5,435
down €5,435 (-7.6%), from €71,615 to €66,181
- Gross operating margin -€4,975
down €4,975 (-2.3%), from €220,664 to €215,689
- Financial income -€4,669
down €4,669 (-38.9%), from €12,018 to €7,349
- Other operating charges +€3,315
up €3,315 (+1534.8%), from €216 to €3,531
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 | €873,445 | €853,804 | -€19,641 | -2.2% |
| Fixed assets | 21/28 | €6,497 | €3,483 | -€3,014 | -46.4% |
| Tangible fixed assets | 22/27 | €6,497 | €3,483 | -€3,014 | -46.4% |
| Land and buildings | 22 | €1,431 | €536 | -€895 | -62.6% |
| Furniture and vehicles | 24 | €5,066 | €2,947 | -€2,119 | -41.8% |
| Current assets | 29/58 | €866,948 | €850,321 | -€16,627 | -1.9% |
| Amounts receivable within one year | 40/41 | €22,193 | €38,923 | +€16,730 | +75.4% |
| Trade receivables | 40 | €17,884 | €22,957 | +€5,073 | +28.4% |
| Other amounts receivable | 41 | €4,309 | €15,965 | +€11,656 | +270.5% |
| Current investments | 50/53 | €699,993 | €599,993 | -€100,000 | -14.3% |
| Cash at bank and in hand | 54/58 | €144,762 | €208,454 | +€63,692 | +44.0% |
| Deferred charges and accrued income | 490/1 | - | €2,952 | +€2,952 | |
| Total equity and liabilities | 10/49 | €873,445 | €853,804 | -€19,641 | -2.2% |
| Equity | 10/15 | €860,416 | €479,990 | -€380,426 | -44.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €854,216 | €473,790 | -€380,426 | -44.5% |
| Distributable reserves | 133 | €854,216 | €473,790 | -€380,426 | -44.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,029 | €373,814 | +€360,785 | +2769.1% |
| Amounts payable within one year | 42/48 | €13,029 | €373,814 | +€360,785 | +2769.1% |
| Trade debts | 44 | €3,619 | €9,439 | +€5,820 | +160.8% |
| Suppliers | 440/4 | €3,619 | €9,439 | +€5,820 | +160.8% |
| Taxes, remuneration and social security | 45 | €9,410 | €14,195 | +€4,785 | +50.9% |
| Taxes | 450/3 | €9,410 | €14,195 | +€4,785 | +50.9% |
| Other amounts payable | 47/48 | - | €350,180 | +€350,180 | |
| Non-recurring operating income | 76A | €290 | €0 | -€290 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,939 | €3,014 | +€75 | +2.5% |
| Other operating charges | 640/8 | €216 | €3,531 | +€3,315 | +1534.8% |
| Gross operating margin | 9900 | €220,664 | €215,689 | -€4,975 | -2.3% |
| Operating profit (loss) | 9901 | €217,509 | €209,145 | -€8,364 | -3.8% |
| Financial income | 75/76B | €12,018 | €7,349 | -€4,669 | -38.9% |
| Recurring financial income | 75 | €12,018 | €7,349 | -€4,669 | -38.9% |
| Financial charges | 65/66B | €103 | €109 | +€6 | +5.8% |
| Recurring financial charges | 65 | €103 | €109 | +€6 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €229,424 | €216,384 | -€13,040 | -5.7% |
| Income taxes | 67/77 | €71,615 | €66,181 | -€5,435 | -7.6% |
| Profit (loss) for the period | 9904 | €157,809 | €150,204 | -€7,605 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €157,809 | €150,204 | -€7,605 | -4.8% |
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 10 October 2026 via checked.be.