MANUFIT: 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.
MANUFIT
Largest movements
- Tangible fixed assets +€56,516
up €56,516 (+17.5%), from €322,827 to €379,342
of which Land and buildings: +€59,527
- Intangible fixed assets -€15,500
down €15,500 (-20.0%), from €77,500 to €62,000
- Financial fixed assets -€8,196
down €8,196 (-100.0%), from €8,196 to €0
- Reserves +€21,967
up €21,967 (+11.8%), from €186,766 to €208,733
- Other debts +€10,676
up €10,676 (+5.9%), from €181,643 to €192,318
- Debts after one year +€10,000
new in 2025: €10,000
- Trade debts -€7,308
down €7,308 (-84.5%), from €8,648 to €1,340
- Gross operating margin -€18,022
down €18,022 (-15.7%), from €114,795 to €96,773
- Depreciation +€9,491
up €9,491 (+23.3%), from €40,680 to €50,172
- Taxes -€7,823
down €7,823 (-47.2%), from €16,576 to €8,753
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 | €418,786 | €453,463 | +€34,677 | +8.3% |
| Fixed assets | 21/28 | €408,523 | €441,342 | +€32,820 | +8.0% |
| Intangible fixed assets | 21 | €77,500 | €62,000 | -€15,500 | -20.0% |
| Tangible fixed assets | 22/27 | €322,827 | €379,342 | +€56,516 | +17.5% |
| Land and buildings | 22 | €279,984 | €339,511 | +€59,527 | +21.3% |
| Plant, machinery and equipment | 23 | €2,081 | €8,870 | +€6,789 | +326.2% |
| Furniture and vehicles | 24 | €40,761 | €30,961 | -€9,800 | -24.0% |
| Financial fixed assets | 28 | €8,196 | €0 | -€8,196 | -100.0% |
| Current assets | 29/58 | €10,263 | €12,120 | +€1,857 | +18.1% |
| Amounts receivable within one year | 40/41 | €6,611 | €7,333 | +€722 | +10.9% |
| Other amounts receivable | 41 | €6,611 | €7,333 | +€722 | +10.9% |
| Cash at bank and in hand | 54/58 | €2,342 | €2,117 | -€225 | -9.6% |
| Deferred charges and accrued income | 490/1 | €1,310 | €2,670 | +€1,361 | +103.9% |
| Total equity and liabilities | 10/49 | €418,786 | €453,463 | +€34,677 | +8.3% |
| Equity | 10/15 | €199,166 | €221,133 | +€21,967 | +11.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €186,766 | €208,733 | +€21,967 | +11.8% |
| Distributable reserves | 133 | €186,766 | €208,733 | +€21,967 | +11.8% |
| Amounts payable | 17/49 | €219,620 | €232,329 | +€12,710 | +5.8% |
| Amounts payable after more than one year | 17 | - | €10,000 | +€10,000 | |
| Financial debts | 170/4 | - | €10,000 | +€10,000 | |
| Amounts payable within one year | 42/48 | €219,620 | €222,329 | +€2,710 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €24,800 | €24,800 | = | 0.0% |
| Trade debts | 44 | €8,648 | €1,340 | -€7,308 | -84.5% |
| Suppliers | 440/4 | €8,648 | €1,340 | -€7,308 | -84.5% |
| Taxes, remuneration and social security | 45 | €4,530 | €3,871 | -€658 | -14.5% |
| Taxes | 450/3 | €4,530 | €3,871 | -€658 | -14.5% |
| Other amounts payable | 47/48 | €181,643 | €192,318 | +€10,676 | +5.9% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,680 | €50,172 | +€9,491 | +23.3% |
| Other operating charges | 640/8 | €2,473 | €2,448 | -€25 | -1.0% |
| Gross operating margin | 9900 | €114,795 | €96,773 | -€18,022 | -15.7% |
| Operating profit (loss) | 9901 | €71,641 | €44,153 | -€27,488 | -38.4% |
| Financial income | 75/76B | €633 | €288 | -€345 | -54.6% |
| Recurring financial income | 75 | €633 | €288 | -€345 | -54.6% |
| Financial charges | 65/66B | €13,380 | €13,720 | +€340 | +2.5% |
| Recurring financial charges | 65 | €13,380 | €13,720 | +€340 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €58,894 | €30,720 | -€28,173 | -47.8% |
| Income taxes | 67/77 | €16,576 | €8,753 | -€7,823 | -47.2% |
| Profit (loss) for the period | 9904 | €42,318 | €21,967 | -€20,350 | -48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,318 | €21,967 | -€20,350 | -48.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.