MANU COLLARD: 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 COLLARD
Largest movements
- Cash +€72,997
up €72,997 (+109%), from €67,158 to €140,155
mainly Current investments (+€40,000) and Net result for the year (+€21,795)
- Current investments -€40,000
down €40,000 (-50.0%), from €80,000 to €40,000
- Tangible fixed assets -€8,841
down €8,841 (-44.4%), from €19,909 to €11,068
of which Furniture and vehicles: -€7,536
- Receivables within one year +€3,662
up €3,662 (+78.6%), from €4,659 to €8,321
of which Trade receivables: +€1,888
- Reserves +€21,795
up €21,795 (+28.2%), from €77,225 to €99,020
of which Distributable reserves: +€30,320
- Trade debts +€3,149
up €3,149 (+611%), from €515 to €3,664
- Tax, wage and social debts +€2,345
new in 2025: €2,345
- Gross operating margin +€16,709
up €16,709 (+120%), from €13,981 to €30,690
- Financial income +€1,397
up €1,397 (+42.6%), from €3,279 to €4,676
- Taxes -€444
down €444 (-13.7%), from €3,232 to €2,788
- Depreciation -€383
down €383 (-3.9%), from €9,854 to €9,471
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 | €172,007 | €200,018 | +€28,011 | +16.3% |
| Fixed assets | 21/28 | €19,959 | €11,118 | -€8,841 | -44.3% |
| Tangible fixed assets | 22/27 | €19,909 | €11,068 | -€8,841 | -44.4% |
| Land and buildings | 22 | €892 | €842 | -€50 | -5.6% |
| Plant, machinery and equipment | 23 | €1,829 | €573 | -€1,256 | -68.7% |
| Furniture and vehicles | 24 | €17,188 | €9,652 | -€7,536 | -43.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €152,048 | €188,900 | +€36,852 | +24.2% |
| Amounts receivable within one year | 40/41 | €4,659 | €8,321 | +€3,662 | +78.6% |
| Trade receivables | 40 | €2,212 | €4,100 | +€1,888 | +85.3% |
| Other amounts receivable | 41 | €2,447 | €4,222 | +€1,775 | +72.5% |
| Current investments | 50/53 | €80,000 | €40,000 | -€40,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €67,158 | €140,155 | +€72,997 | +109% |
| Deferred charges and accrued income | 490/1 | €231 | €424 | +€193 | +83.7% |
| Total equity and liabilities | 10/49 | €172,007 | €200,018 | +€28,011 | +16.3% |
| Equity | 10/15 | €166,066 | €187,861 | +€21,795 | +13.1% |
| Contributions | 10/11 | €30,250 | €30,250 | = | 0.0% |
| Reserves | 13 | €77,225 | €99,020 | +€21,795 | +28.2% |
| Non-distributable reserves | 130/1 | €8,525 | - | -€8,525 | |
| Reserves not available under the articles | 1311 | €8,525 | - | -€8,525 | |
| Tax-exempt reserves | 132 | €68,700 | €68,700 | = | 0.0% |
| Distributable reserves | 133 | - | €30,320 | +€30,320 | |
| Profit (loss) carried forward | 14 | €58,591 | €58,591 | -€0 | 0.0% |
| Amounts payable | 17/49 | €5,941 | €12,157 | +€6,216 | +105% |
| Amounts payable within one year | 42/48 | €5,941 | €10,257 | +€4,316 | +72.7% |
| Current portion of amounts payable after more than one year | 42 | €451 | €845 | +€394 | +87.5% |
| Trade debts | 44 | €515 | €3,664 | +€3,149 | +611% |
| Suppliers | 440/4 | €515 | €3,664 | +€3,149 | +611% |
| Taxes, remuneration and social security | 45 | - | €2,345 | +€2,345 | |
| Taxes | 450/3 | - | €2,345 | +€2,345 | |
| Other amounts payable | 47/48 | €4,975 | €3,403 | -€1,572 | -31.6% |
| Accrued charges and deferred income | 492/3 | - | €1,900 | +€1,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,854 | €9,471 | -€383 | -3.9% |
| Other operating charges | 640/8 | €1,279 | €1,100 | -€179 | -14.0% |
| Non-recurring operating charges | 66A | €1,712 | - | -€1,712 | |
| Gross operating margin | 9900 | €13,981 | €30,690 | +€16,709 | +120% |
| Operating profit (loss) | 9901 | €1,136 | €20,119 | +€18,983 | +1,671% |
| Financial income | 75/76B | €3,279 | €4,676 | +€1,397 | +42.6% |
| Recurring financial income | 75 | €3,279 | €4,676 | +€1,397 | +42.6% |
| Financial charges | 65/66B | €255 | €212 | -€43 | -16.7% |
| Recurring financial charges | 65 | €255 | €212 | -€43 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €4,160 | €24,583 | +€20,423 | +491% |
| Income taxes | 67/77 | €3,232 | €2,788 | -€444 | -13.7% |
| Profit (loss) for the period | 9904 | €928 | €21,795 | +€20,867 | +2,249% |
| Profit (loss) for the period to be appropriated | 9905 | €928 | €21,795 | +€20,867 | +2,249% |
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 23 October 2026 via checked.be.