MANUMAX: 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.
MANUMAX
Largest movements
- Cash -€76,185
down €76,185 (-76.0%), from €100,194 to €24,009
mainly Other debts (-€77,247) and Net result for the year (-€6,906)
- Receivables within one year -€7,357
down €7,357 (-98.7%), from €7,454 to €97
of which Other amounts receivable: -€6,357
- Other debts -€77,247
down €77,247 (-65.0%), from €118,832 to €41,585
- Profit (loss) carried forward -€6,906
down €6,906 (-86.2%), from €8,014 to €1,108
- Financial charges -€5,553
down €5,553 (-66.1%), from €8,399 to €2,846
- Gross operating margin +€3,489
up €3,489 (+50.3%), from -€6,938 to -€3,449
- Financial income -€232
down €232 (-100.0%), from €232 to €0
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 | €246,846 | €162,693 | -€84,154 | -34.1% |
| Fixed assets | 21/28 | €1,629 | €1,017 | -€612 | -37.6% |
| Tangible fixed assets | 22/27 | €1,629 | €1,017 | -€612 | -37.6% |
| Furniture and vehicles | 24 | €1,629 | €1,017 | -€612 | -37.6% |
| Current assets | 29/58 | €245,217 | €161,676 | -€83,542 | -34.1% |
| Stocks and contracts in progress | 3 | €137,569 | €137,569 | = | 0.0% |
| Stocks | 30/36 | €137,569 | €137,569 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,454 | €97 | -€7,357 | -98.7% |
| Trade receivables | 40 | €1,000 | €0 | -€1,000 | -100.0% |
| Other amounts receivable | 41 | €6,454 | €97 | -€6,357 | -98.5% |
| Cash at bank and in hand | 54/58 | €100,194 | €24,009 | -€76,185 | -76.0% |
| Total equity and liabilities | 10/49 | €246,846 | €162,693 | -€84,154 | -34.1% |
| Equity | 10/15 | €128,014 | €121,108 | -€6,906 | -5.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,014 | €1,108 | -€6,906 | -86.2% |
| Amounts payable | 17/49 | €118,832 | €41,585 | -€77,247 | -65.0% |
| Amounts payable within one year | 42/48 | €118,832 | €41,585 | -€77,247 | -65.0% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €118,832 | €41,585 | -€77,247 | -65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €612 | €612 | = | 0.0% |
| Gross operating margin | 9900 | -€6,938 | -€3,449 | +€3,489 | +50.3% |
| Operating profit (loss) | 9901 | -€7,550 | -€4,060 | +€3,489 | +46.2% |
| Financial income | 75/76B | €232 | €0 | -€232 | -100.0% |
| Recurring financial income | 75 | €232 | €0 | -€232 | -100.0% |
| Financial charges | 65/66B | €8,399 | €2,846 | -€5,553 | -66.1% |
| Recurring financial charges | 65 | €8,399 | €2,846 | -€5,553 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,717 | -€6,906 | +€8,810 | +56.1% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€15,717 | -€6,906 | +€8,810 | +56.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,717 | -€6,906 | +€8,810 | +56.1% |
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 9 October 2026 via checked.be.