MANUS: 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.
MANUS
Largest movements
- Cash +€1.2m
up €1.2m (+118.4%), from €1.0m to €2.2m
mainly Net result for the year (+€600,300) and Debts within one year (+€465,398)
- Receivables within one year -€145,902
down €145,902 (-19.7%), from €738,834 to €592,932
of which Trade receivables: -€112,767
- Profit (loss) carried forward +€600,300
up €600,300 (+50.3%), from €1.2m to €1.8m
- Debts within one year +€465,398
up €465,398 (+55.8%), from €834,725 to €1.3m
of which Trade debts: +€462,207
- Gross operating margin +€244,052
up €244,052 (+8.7%), from €2.8m to €3.0m
- Staff costs +€135,112
up €135,112 (+5.9%), from €2.3m to €2.4m
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 | €2,274,185 | €3,339,883 | +€1.1m | +46.9% |
| Fixed assets | 21/28 | €202,006 | €196,181 | -€5,825 | -2.9% |
| Tangible fixed assets | 22/27 | €122,088 | €116,251 | -€5,837 | -4.8% |
| Plant, machinery and equipment | 23 | €27,396 | €19,943 | -€7,453 | -27.2% |
| Furniture and vehicles | 24 | €94,692 | €96,308 | +€1,616 | +1.7% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €79,918 | €79,930 | +€12 | 0.0% |
| Current assets | 29/58 | €2,072,179 | €3,143,702 | +€1.1m | +51.7% |
| Amounts receivable within one year | 40/41 | €738,834 | €592,932 | -€145,902 | -19.7% |
| Trade receivables | 40 | €591,484 | €478,717 | -€112,767 | -19.1% |
| Other amounts receivable | 41 | €147,350 | €114,215 | -€33,135 | -22.5% |
| Current investments | 50/53 | €301,569 | €301,577 | +€8 | 0.0% |
| Cash at bank and in hand | 54/58 | €1,020,239 | €2,227,870 | +€1.2m | +118.4% |
| Deferred charges and accrued income | 490/1 | €11,537 | €21,323 | +€9,786 | +84.8% |
| Total equity and liabilities | 10/49 | €2,274,185 | €3,339,883 | +€1.1m | +46.9% |
| Equity | 10/15 | €1,439,460 | €2,039,760 | +€600,300 | +41.7% |
| Contributions | 10/11 | €246,635 | €246,635 | = | 0.0% |
| Capital | 10 | €246,635 | €246,635 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,192,825 | €1,793,125 | +€600,300 | +50.3% |
| Amounts payable | 17/49 | €834,725 | €1,300,123 | +€465,398 | +55.8% |
| Amounts payable within one year | 42/48 | €834,725 | €1,300,123 | +€465,398 | +55.8% |
| Trade debts | 44 | €425,926 | €888,133 | +€462,207 | +108.5% |
| Suppliers | 440/4 | €425,926 | €888,133 | +€462,207 | +108.5% |
| Advances received on contracts in progress | 46 | €25,342 | €29,363 | +€4,021 | +15.9% |
| Taxes, remuneration and social security | 45 | €381,971 | €379,640 | -€2,331 | -0.6% |
| Taxes | 450/3 | €36,712 | €44,413 | +€7,701 | +21.0% |
| Remuneration and social security | 454/9 | €345,259 | €335,227 | -€10,032 | -2.9% |
| Remuneration, social security and pensions | 62 | €2,273,446 | €2,408,558 | +€135,112 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,022 | €41,207 | +€10,185 | +32.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,820 | -€6,320 | -€10,140 | |
| Other operating charges | 640/8 | €816 | €4,324 | +€3,508 | +429.9% |
| Non-recurring operating charges | 66A | €310 | - | -€310 | |
| Gross operating margin | 9900 | €2,800,796 | €3,044,848 | +€244,052 | +8.7% |
| Operating profit (loss) | 9901 | €491,382 | €597,079 | +€105,697 | +21.5% |
| Financial income | 75/76B | €5,545 | €4,682 | -€863 | -15.6% |
| Recurring financial income | 75 | €5,545 | €4,682 | -€863 | -15.6% |
| Financial charges | 65/66B | €1,116 | €1,461 | +€345 | +30.9% |
| Recurring financial charges | 65 | €1,116 | €1,461 | +€345 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €495,811 | €600,300 | +€104,489 | +21.1% |
| Profit (loss) for the period | 9904 | €495,811 | €600,300 | +€104,489 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €495,811 | €600,300 | +€104,489 | +21.1% |
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 8 October 2026 via checked.be.