Manu & Zonen: 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 & Zonen
Largest movements
- Receivables within one year -€10,230
down €10,230 (-75.7%), from €13,521 to €3,290
of which Other amounts receivable: -€7,079
- Tangible fixed assets -€3,004
no longer reported in 2025 (was €3,004)
- Cash -€2,499
down €2,499 (-1.9%), from €130,209 to €127,710
mainly Other debts (-€8,311) and Net result for the year (-€7,850)
- Reserves -€13,707
down €13,707 (-40.5%), from €33,833 to €20,126
- Other debts -€8,311
down €8,311 (-10.8%), from €76,739 to €68,428
- Profit (loss) carried forward +€5,858
no longer reported in 2025 (was -€5,858)
- Gross operating margin -€4,275
down €4,275, from €693 to -€3,582
- Depreciation -€3,004
down €3,004 (-50.0%), from €6,008 to €3,004
- Taxes +€426
up €426, from -€159 to €267
- Other operating charges +€254
up €254 (+43.9%), from €579 to €834
- Financial charges +€40
up €40 (+32.6%), from €123 to €162
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 | €157,987 | €140,546 | -€17,442 | -11.0% |
| Fixed assets | 21/28 | €3,004 | - | -€3,004 | |
| Tangible fixed assets | 22/27 | €3,004 | - | -€3,004 | |
| Furniture and vehicles | 24 | €3,004 | - | -€3,004 | |
| Current assets | 29/58 | €154,983 | €140,546 | -€14,437 | -9.3% |
| Stocks and contracts in progress | 3 | €10,412 | €9,545 | -€867 | -8.3% |
| Stocks | 30/36 | €10,412 | €9,545 | -€867 | -8.3% |
| Amounts receivable within one year | 40/41 | €13,521 | €3,290 | -€10,230 | -75.7% |
| Trade receivables | 40 | €4,709 | €1,557 | -€3,151 | -66.9% |
| Other amounts receivable | 41 | €8,812 | €1,733 | -€7,079 | -80.3% |
| Cash at bank and in hand | 54/58 | €130,209 | €127,710 | -€2,499 | -1.9% |
| Deferred charges and accrued income | 490/1 | €841 | - | -€841 | |
| Total equity and liabilities | 10/49 | €157,987 | €140,546 | -€17,442 | -11.0% |
| Equity | 10/15 | €77,975 | €70,126 | -€7,850 | -10.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €33,833 | €20,126 | -€13,707 | -40.5% |
| Distributable reserves | 133 | €33,833 | €20,126 | -€13,707 | -40.5% |
| Profit (loss) carried forward | 14 | -€5,858 | - | +€5,858 | |
| Amounts payable | 17/49 | €80,012 | €70,420 | -€9,592 | -12.0% |
| Amounts payable within one year | 42/48 | €80,012 | €70,420 | -€9,592 | -12.0% |
| Trade debts | 44 | €1,485 | €503 | -€982 | -66.1% |
| Suppliers | 440/4 | €1,485 | €503 | -€982 | -66.1% |
| Taxes, remuneration and social security | 45 | €1,787 | €1,488 | -€299 | -16.7% |
| Taxes | 450/3 | €1,787 | €1,488 | -€299 | -16.7% |
| Other amounts payable | 47/48 | €76,739 | €68,428 | -€8,311 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,008 | €3,004 | -€3,004 | -50.0% |
| Other operating charges | 640/8 | €579 | €834 | +€254 | +43.9% |
| Gross operating margin | 9900 | €693 | -€3,582 | -€4,275 | |
| Operating profit (loss) | 9901 | -€5,895 | -€7,420 | -€1,525 | -25.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €123 | €162 | +€40 | +32.6% |
| Recurring financial charges | 65 | €123 | €162 | +€40 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,017 | -€7,583 | -€1,566 | -26.0% |
| Income taxes | 67/77 | -€159 | €267 | +€426 | |
| Profit (loss) for the period | 9904 | -€5,858 | -€7,850 | -€1,992 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,858 | -€7,850 | -€1,992 | -34.0% |
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.