MANU SPS: 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 SPS
Largest movements
- Cash +€58,429
up €58,429 (+18.2%), from €320,367 to €378,796
mainly Net result for the year (+€71,920) and Tax, wage and social debts (+€7,320)
- Receivables within one year -€6,313
down €6,313 (-26.5%), from €23,864 to €17,551
of which Other amounts receivable: -€6,295
- Reserves +€54,420
up €54,420 (+17.8%), from €305,716 to €360,137
of which Non-distributable reserves: +€54,400
- Other debts -€15,874
down €15,874 (-76.6%), from €20,710 to €4,836
- Tax, wage and social debts +€7,320
up €7,320 (+42.5%), from €17,237 to €24,557
- Trade debts +€5,080
new in 2025: €5,080
- Gross operating margin +€26,474
up €26,474 (+30.2%), from €87,681 to €114,155
- Taxes +€14,097
up €14,097 (+57.0%), from €24,730 to €38,827
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 | €349,863 | €400,809 | +€50,946 | +14.6% |
| Fixed assets | 21/28 | €5,411 | €4,198 | -€1,213 | -22.4% |
| Tangible fixed assets | 22/27 | €5,411 | €4,198 | -€1,213 | -22.4% |
| Plant, machinery and equipment | 23 | €4,144 | €3,242 | -€902 | -21.8% |
| Furniture and vehicles | 24 | €1,268 | €957 | -€311 | -24.5% |
| Current assets | 29/58 | €344,452 | €396,611 | +€52,159 | +15.1% |
| Amounts receivable within one year | 40/41 | €23,864 | €17,551 | -€6,313 | -26.5% |
| Trade receivables | 40 | €17,058 | €17,040 | -€18 | -0.1% |
| Other amounts receivable | 41 | €6,806 | €511 | -€6,295 | -92.5% |
| Cash at bank and in hand | 54/58 | €320,367 | €378,796 | +€58,429 | +18.2% |
| Deferred charges and accrued income | 490/1 | €220 | €264 | +€44 | +19.9% |
| Total equity and liabilities | 10/49 | €349,863 | €400,809 | +€50,946 | +14.6% |
| Equity | 10/15 | €311,916 | €366,337 | +€54,420 | +17.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €305,716 | €360,137 | +€54,420 | +17.8% |
| Non-distributable reserves | 130/1 | €195,250 | €249,650 | +€54,400 | +27.9% |
| Other | 1319 | €195,250 | €249,650 | +€54,400 | +27.9% |
| Distributable reserves | 133 | €110,466 | €110,487 | +€20 | 0.0% |
| Amounts payable | 17/49 | €37,947 | €34,473 | -€3,474 | -9.2% |
| Amounts payable within one year | 42/48 | €37,947 | €34,473 | -€3,474 | -9.2% |
| Trade debts | 44 | - | €5,080 | +€5,080 | |
| Suppliers | 440/4 | - | €5,080 | +€5,080 | |
| Taxes, remuneration and social security | 45 | €17,237 | €24,557 | +€7,320 | +42.5% |
| Taxes | 450/3 | €17,237 | €24,557 | +€7,320 | +42.5% |
| Other amounts payable | 47/48 | €20,710 | €4,836 | -€15,874 | -76.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,292 | €2,160 | -€132 | -5.8% |
| Other operating charges | 640/8 | €2,900 | €3,532 | +€632 | +21.8% |
| Gross operating margin | 9900 | €87,681 | €114,155 | +€26,474 | +30.2% |
| Operating profit (loss) | 9901 | €82,488 | €108,462 | +€25,974 | +31.5% |
| Financial income | 75/76B | €1,374 | €2,371 | +€997 | +72.6% |
| Recurring financial income | 75 | €1,374 | €2,371 | +€997 | +72.6% |
| Financial charges | 65/66B | €94 | €86 | -€8 | -8.0% |
| Recurring financial charges | 65 | €94 | €86 | -€8 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €83,768 | €110,747 | +€26,979 | +32.2% |
| Income taxes | 67/77 | €24,730 | €38,827 | +€14,097 | +57.0% |
| Profit (loss) for the period | 9904 | €59,038 | €71,920 | +€12,882 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,038 | €71,920 | +€12,882 | +21.8% |
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 19 October 2026 via checked.be.