MANUL: 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.
MANUL
Largest movements
- Receivables within one year +€25,358
up €25,358 (+18.5%), from €137,066 to €162,424
of which Trade receivables: +€33,781
- Cash -€3,410
down €3,410 (-95.0%), from €3,590 to €180
mainly Receivables within one year (-€25,358) and Trade debts (-€3,691)
- Profit (loss) carried forward +€16,089
up €16,089 (+16.8%), from €95,762 to €111,851
- Other debts +€6,998
new in 2024: €6,998
- Trade debts -€3,691
down €3,691 (-21.4%), from €17,221 to €13,530
- Tax, wage and social debts +€3,316
up €3,316 (+610%), from €544 to €3,860
of which Taxes: +€2,378
- Staff costs -€8,831
down €8,831 (-92.2%), from €9,578 to €747
- Taxes +€2,000
new in 2024: €2,000
- Other operating charges +€599
up €599 (+33.8%), from €1,771 to €2,370
- Gross operating margin +€583
up €583 (+2.7%), from €21,245 to €21,828
- Depreciation -€235
down €235 (-31.4%), from €747 to €512
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €141,476 | €164,189 | +€22,713 | +16.1% |
| Fixed assets | 21/28 | €821 | €1,585 | +€765 | +93.2% |
| Tangible fixed assets | 22/27 | €821 | €1,585 | +€765 | +93.2% |
| Furniture and vehicles | 24 | €821 | €1,585 | +€765 | +93.2% |
| Current assets | 29/58 | €140,655 | €162,604 | +€21,948 | +15.6% |
| Amounts receivable within one year | 40/41 | €137,066 | €162,424 | +€25,358 | +18.5% |
| Trade receivables | 40 | €88,292 | €122,073 | +€33,781 | +38.3% |
| Other amounts receivable | 41 | €48,773 | €40,351 | -€8,423 | -17.3% |
| Cash at bank and in hand | 54/58 | €3,590 | €180 | -€3,410 | -95.0% |
| Total equity and liabilities | 10/49 | €141,476 | €164,189 | +€22,713 | +16.1% |
| Equity | 10/15 | €117,762 | €133,851 | +€16,089 | +13.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,762 | €111,851 | +€16,089 | +16.8% |
| Amounts payable | 17/49 | €23,714 | €30,338 | +€6,624 | +27.9% |
| Amounts payable within one year | 42/48 | €23,714 | €30,338 | +€6,624 | +27.9% |
| Financial debts | 43 | €5,949 | €5,949 | = | 0.0% |
| Credit institutions | 430/8 | €5,949 | €5,949 | = | 0.0% |
| Trade debts | 44 | €17,221 | €13,530 | -€3,691 | -21.4% |
| Suppliers | 440/4 | €17,221 | €13,530 | -€3,691 | -21.4% |
| Taxes, remuneration and social security | 45 | €544 | €3,860 | +€3,316 | +610% |
| Taxes | 450/3 | €518 | €2,896 | +€2,378 | +459% |
| Remuneration and social security | 454/9 | €26 | €964 | +€938 | +3,571% |
| Other amounts payable | 47/48 | - | €6,998 | +€6,998 | |
| Remuneration, social security and pensions | 62 | €9,578 | €747 | -€8,831 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €747 | €512 | -€235 | -31.4% |
| Other operating charges | 640/8 | €1,771 | €2,370 | +€599 | +33.8% |
| Gross operating margin | 9900 | €21,245 | €21,828 | +€583 | +2.7% |
| Operating profit (loss) | 9901 | €9,149 | €18,199 | +€9,051 | +98.9% |
| Financial charges | 65/66B | €192 | €110 | -€82 | -42.6% |
| Recurring financial charges | 65 | €192 | €110 | -€82 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €8,957 | €18,089 | +€9,132 | +102% |
| Income taxes | 67/77 | - | €2,000 | +€2,000 | |
| Profit (loss) for the period | 9904 | €8,957 | €16,089 | +€7,132 | +79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,957 | €16,089 | +€7,132 | +79.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.