MANUEL CONSTRUCT: 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.
MANUEL CONSTRUCT
Largest movements
- Receivables within one year +€40,272
up €40,272 (+122.4%), from €32,913 to €73,185
of which Trade receivables: +€46,512
- Cash +€3,476
up €3,476 (+107.1%), from €3,245 to €6,721
mainly Trade debts (+€29,084) and Net result for the year (+€12,052)
- Trade debts +€29,084
up €29,084 (+132.8%), from €21,896 to €50,979
of which Bills of exchange payable: +€26,440
- Profit (loss) carried forward +€12,052
up €12,052 (+118.0%), from €10,210 to €22,262
- Tax, wage and social debts +€2,613
up €2,613 (+102.4%), from €2,552 to €5,165
- Turnover -€66,364
down €66,364 (-15.6%), from €426,652 to €360,288
- Purchases and services -€60,753
down €60,753 (-15.0%), from €405,966 to €345,214
- Financial charges -€7,914
down €7,914 (-99.9%), from €7,923 to €9
- Gross operating margin -€5,611
down €5,611 (-27.1%), from €20,686 to €15,074
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 | €36,158 | €79,906 | +€43,749 | +121.0% |
| Current assets | 29/58 | €36,158 | €79,906 | +€43,749 | +121.0% |
| Amounts receivable within one year | 40/41 | €32,913 | €73,185 | +€40,272 | +122.4% |
| Trade receivables | 40 | €21,084 | €67,596 | +€46,512 | +220.6% |
| Other amounts receivable | 41 | €11,829 | €5,589 | -€6,239 | -52.7% |
| Cash at bank and in hand | 54/58 | €3,245 | €6,721 | +€3,476 | +107.1% |
| Total equity and liabilities | 10/49 | €36,158 | €79,906 | +€43,749 | +121.0% |
| Equity | 10/15 | €11,710 | €23,762 | +€12,052 | +102.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,210 | €22,262 | +€12,052 | +118.0% |
| Amounts payable | 17/49 | €24,448 | €56,145 | +€31,697 | +129.6% |
| Amounts payable within one year | 42/48 | €24,448 | €56,145 | +€31,697 | +129.6% |
| Trade debts | 44 | €21,896 | €50,979 | +€29,084 | +132.8% |
| Suppliers | 440/4 | €1,194 | €3,838 | +€2,644 | +221.4% |
| Bills of exchange payable | 441 | €20,702 | €47,141 | +€26,440 | +127.7% |
| Taxes, remuneration and social security | 45 | €2,552 | €5,165 | +€2,613 | +102.4% |
| Taxes | 450/3 | €2,552 | €5,165 | +€2,613 | +102.4% |
| Turnover | 70 | €426,652 | €360,288 | -€66,364 | -15.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €405,966 | €345,214 | -€60,753 | -15.0% |
| Gross operating margin | 9900 | €20,686 | €15,074 | -€5,611 | -27.1% |
| Operating profit (loss) | 9901 | €20,686 | €15,074 | -€5,611 | -27.1% |
| Financial charges | 65/66B | €7,923 | €9 | -€7,914 | -99.9% |
| Recurring financial charges | 65 | €7,923 | €9 | -€7,914 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | €12,762 | €15,065 | +€2,303 | +18.0% |
| Income taxes | 67/77 | €2,552 | €3,013 | +€461 | +18.0% |
| Profit (loss) for the period | 9904 | €10,210 | €12,052 | +€1,842 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,210 | €12,052 | +€1,842 | +18.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.