MANUMAR: 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.
MANUMAR
Largest movements
- Receivables within one year +€436,412
up €436,412 (+2,996%), from €14,566 to €450,978
of which Other amounts receivable: +€430,000
- Cash -€115,979
down €115,979 (-53.4%), from €217,112 to €101,133
mainly Receivables within one year (-€436,412) and Provisions (-€123,939)
- Tangible fixed assets +€30,192
up €30,192 (+3.9%), from €774,977 to €805,169
of which Other tangible fixed assets: +€65,509
- Reserves +€422,353
up €422,353 (+101%), from €417,609 to €839,962
of which Distributable reserves: +€428,894
- Provisions -€123,939
down €123,939 (-69.4%), from €178,536 to €54,597
of which Provisions for liabilities and charges: -€121,758
- Other debts +€38,084
up €38,084 (+69.2%), from €55,027 to €93,111
- Debts after one year -€27,817
down €27,817 (-10.8%), from €258,011 to €230,194
- Tax, wage and social debts +€26,148
up €26,148 (+52.8%), from €49,532 to €75,680
of which Taxes: +€26,148
- Gross operating margin +€399,169
up €399,169 (+152%), from €262,992 to €662,161
- Taxes +€169,023
up €169,023 (+257%), from €65,760 to €234,783
- Provisions -€121,758
new in 2025: -€121,758
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 | €1,009,607 | €1,360,377 | +€350,770 | +34.7% |
| Fixed assets | 21/28 | €774,977 | €805,169 | +€30,192 | +3.9% |
| Tangible fixed assets | 22/27 | €774,977 | €805,169 | +€30,192 | +3.9% |
| Land and buildings | 22 | €603,918 | €568,087 | -€35,831 | -5.9% |
| Plant, machinery and equipment | 23 | €811 | €1,325 | +€514 | +63.4% |
| Other tangible fixed assets | 26 | €170,248 | €235,757 | +€65,509 | +38.5% |
| Current assets | 29/58 | €234,630 | €555,208 | +€320,578 | +137% |
| Amounts receivable within one year | 40/41 | €14,566 | €450,978 | +€436,412 | +2,996% |
| Trade receivables | 40 | €14,566 | €20,978 | +€6,412 | +44.0% |
| Other amounts receivable | 41 | - | €430,000 | +€430,000 | |
| Cash at bank and in hand | 54/58 | €217,112 | €101,133 | -€115,979 | -53.4% |
| Deferred charges and accrued income | 490/1 | €2,952 | €3,097 | +€145 | +4.9% |
| Total equity and liabilities | 10/49 | €1,009,607 | €1,360,377 | +€350,770 | +34.7% |
| Equity | 10/15 | €418,609 | €840,962 | +€422,353 | +101% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €417,609 | €839,962 | +€422,353 | +101% |
| Tax-exempt reserves | 132 | €105,650 | €99,109 | -€6,541 | -6.2% |
| Distributable reserves | 133 | €311,959 | €740,853 | +€428,894 | +137% |
| Provisions and deferred taxes | 16 | €178,536 | €54,597 | -€123,939 | -69.4% |
| Provisions for liabilities and charges | 160/5 | €121,758 | - | -€121,758 | |
| Pensions and similar obligations | 160 | €121,758 | - | -€121,758 | |
| Deferred taxes | 168 | €56,778 | €54,597 | -€2,181 | -3.8% |
| Amounts payable | 17/49 | €412,462 | €464,818 | +€52,356 | +12.7% |
| Amounts payable after more than one year | 17 | €258,011 | €230,194 | -€27,817 | -10.8% |
| Financial debts | 170/4 | €258,011 | €230,194 | -€27,817 | -10.8% |
| Amounts payable within one year | 42/48 | €154,451 | €234,624 | +€80,173 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €44,002 | €49,824 | +€5,822 | +13.2% |
| Trade debts | 44 | €5,890 | €16,009 | +€10,119 | +172% |
| Suppliers | 440/4 | €5,890 | €16,009 | +€10,119 | +172% |
| Taxes, remuneration and social security | 45 | €49,532 | €75,680 | +€26,148 | +52.8% |
| Taxes | 450/3 | €43,824 | €69,972 | +€26,148 | +59.7% |
| Remuneration and social security | 454/9 | €5,708 | €5,708 | = | 0.0% |
| Other amounts payable | 47/48 | €55,027 | €93,111 | +€38,084 | +69.2% |
| Non-recurring operating income | 76A | - | €393,268 | +€393,268 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,205 | €47,714 | +€6,509 | +15.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€121,758 | -€121,758 | |
| Other operating charges | 640/8 | €9,067 | €6,263 | -€2,804 | -30.9% |
| Gross operating margin | 9900 | €262,992 | €662,161 | +€399,169 | +152% |
| Operating profit (loss) | 9901 | €212,720 | €729,942 | +€517,222 | +243% |
| Financial charges | 65/66B | €9,421 | €6,986 | -€2,435 | -25.8% |
| Recurring financial charges | 65 | €9,421 | €6,986 | -€2,435 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €203,299 | €722,956 | +€519,657 | +256% |
| Transfer from deferred taxes | 780 | €2,180 | €2,180 | = | 0.0% |
| Income taxes | 67/77 | €65,760 | €234,783 | +€169,023 | +257% |
| Profit (loss) for the period | 9904 | €139,719 | €490,353 | +€350,634 | +251% |
| Transfer from tax-exempt reserves | 789 | €6,542 | €6,541 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €146,261 | €496,894 | +€350,633 | +240% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.