MANUTAN: 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.
What changed
MANUTAN
NACE 46.841, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€6.3m
2024 · €7.1m-€834,854
Equity
€15.8m
2024 · €14.3m+€1.5m
Cash
€424,363
2024 · €375,454+€48,909
Balance sheet total
€30.0m
2024 · €30.8m-€843,854
Largest movements
Assets
- Current investments -€753,836
down €753,836 (-3.7%), from €20.5m to €19.8m
Equity and liabilities
- Other debts -€2.0m
down €2.0m (-29.2%), from €6.8m to €4.8m
- Profit (loss) carried forward +€1.5m
up €1.5m (+12.8%), from €11.7m to €13.2m
- Trade debts -€401,396
down €401,396 (-5.0%), from €8.0m to €7.6m
Income statement
- Turnover -€2.4m
down €2.4m (-3.8%), from €61.7m to €59.3m
- Goods and materials -€1.6m
down €1.6m (-4.4%), from €37.3m to €35.7m
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.
Result 2024
€7.1m
Turnover
-€2.4m
Other operating income
+€43,407
Goods and materials
+€1.6m
Services and other goods
+€220,660
Staff costs
-€296,548
Depreciation
-€2,381
Write-downs
-€126,657
Other operating charges
+€25,546
Financial income
-€242,868
Financial charges
+€782
Taxes
+€269,255
Result 2025
€6.3m
raises the resultlowers the result
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.
From operations
+€4.1m
Investment
+€753,836
Financing
-€4.8m
Cash 2024
€375,454
From operations (derived)
+€4.1m
Net result for the year
+€6.3m
Depreciation
+€28,118
Receivables within one year
+€125,474
Deferred charges and accrued income
-€14,665
Trade debts
-€401,396
Tax, wage and social debts
+€39,459
Other debts
-€2.0m
Investment (derived)
+€753,836
Current investments
+€753,836
Financing
-€4.8m
Contributions, distributions and other
-€4.8m
Cash 2025
€424,363
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,830,989 | €29,987,135 | -€843,854 | -2.7% |
| Fixed assets | 21/28 | €73,267 | €45,149 | -€28,118 | -38.4% |
| Tangible fixed assets | 22/27 | €68,911 | €40,793 | -€28,118 | -40.8% |
| Plant, machinery and equipment | 23 | €26,344 | €12,371 | -€13,973 | -53.0% |
| Other tangible fixed assets | 26 | €42,567 | €28,422 | -€14,145 | -33.2% |
| Financial fixed assets | 28 | €4,356 | €4,356 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,356 | €4,356 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,356 | €4,356 | = | 0.0% |
| Current assets | 29/58 | €30,757,722 | €29,941,986 | -€815,736 | -2.7% |
| Amounts receivable within one year | 40/41 | €9,779,839 | €9,654,365 | -€125,474 | -1.3% |
| Trade receivables | 40 | €9,709,205 | €9,583,075 | -€126,130 | -1.3% |
| Other amounts receivable | 41 | €70,634 | €71,290 | +€656 | +0.9% |
| Current investments | 50/53 | €20,520,873 | €19,767,037 | -€753,836 | -3.7% |
| Other investments | 51/53 | €20,520,873 | €19,767,037 | -€753,836 | -3.7% |
| Cash at bank and in hand | 54/58 | €375,454 | €424,363 | +€48,909 | +13.0% |
| Deferred charges and accrued income | 490/1 | €81,557 | €96,222 | +€14,665 | +18.0% |
| Total equity and liabilities | 10/49 | €30,830,989 | €29,987,135 | -€843,854 | -2.7% |
| Equity | 10/15 | €14,342,271 | €15,836,366 | +€1.5m | +10.4% |
| Contributions | 10/11 | €967,988 | €967,988 | = | 0.0% |
| Capital | 10 | €966,000 | €966,000 | = | 0.0% |
| Issued capital | 100 | €966,000 | €966,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,988 | €1,988 | = | 0.0% |
| Share premium | 1100/10 | €1,988 | €1,988 | = | 0.0% |
| Reserves | 13 | €1,706,473 | €1,706,473 | = | 0.0% |
| Non-distributable reserves | 130/1 | €102,541 | €102,541 | = | 0.0% |
| Legal reserve | 130 | €96,600 | €96,600 | = | 0.0% |
| Other | 1319 | €5,941 | €5,941 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,022 | €8,022 | = | 0.0% |
| Distributable reserves | 133 | €1,595,910 | €1,595,910 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,667,810 | €13,161,905 | +€1.5m | +12.8% |
| Amounts payable | 17/49 | €16,488,718 | €14,150,769 | -€2.3m | -14.2% |
| Amounts payable within one year | 42/48 | €16,488,718 | €14,150,769 | -€2.3m | -14.2% |
| Trade debts | 44 | €7,969,948 | €7,568,552 | -€401,396 | -5.0% |
| Suppliers | 440/4 | €7,969,948 | €7,568,552 | -€401,396 | -5.0% |
| Taxes, remuneration and social security | 45 | €1,762,424 | €1,801,883 | +€39,459 | +2.2% |
| Taxes | 450/3 | €1,045,537 | €1,151,614 | +€106,077 | +10.1% |
| Remuneration and social security | 454/9 | €716,887 | €650,269 | -€66,618 | -9.3% |
| Other amounts payable | 47/48 | €6,756,346 | €4,780,334 | -€2.0m | -29.2% |
| Operating income | 70/76A | €62,641,608 | €60,326,813 | -€2.3m | -3.7% |
| Turnover | 70 | €61,662,015 | €59,303,812 | -€2.4m | -3.8% |
| Other operating income | 74 | €979,593 | €1,023,001 | +€43,407 | +4.4% |
| Operating charges | 60/66A | €53,761,495 | €52,308,722 | -€1.5m | -2.7% |
| Goods for resale, raw materials and consumables | 60 | €37,285,125 | €35,652,972 | -€1.6m | -4.4% |
| Purchases | 600/8 | €37,285,125 | €35,652,972 | -€1.6m | -4.4% |
| Services and other goods | 61 | €12,491,875 | €12,271,215 | -€220,660 | -1.8% |
| Remuneration, social security and pensions | 62 | €3,873,386 | €4,169,933 | +€296,548 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,737 | €28,118 | +€2,381 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€133,764 | -€7,107 | +€126,657 | +94.7% |
| Other operating charges | 640/8 | €219,137 | €193,591 | -€25,546 | -11.7% |
| Operating profit (loss) | 9901 | €8,880,113 | €8,018,090 | -€862,023 | -9.7% |
| Financial income | 75/76B | €743,478 | €500,610 | -€242,868 | -32.7% |
| Recurring financial income | 75 | €743,478 | €500,610 | -€242,868 | -32.7% |
| Income from current assets | 751 | €730,812 | €497,672 | -€233,140 | -31.9% |
| Other financial income | 752/9 | €12,666 | €2,938 | -€9,728 | -76.8% |
| Financial charges | 65/66B | €92,748 | €91,966 | -€782 | -0.8% |
| Recurring financial charges | 65 | €92,748 | €91,966 | -€782 | -0.8% |
| Other financial charges | 652/9 | €92,748 | €91,966 | -€782 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €9,530,843 | €8,426,734 | -€1.1m | -11.6% |
| Income taxes | 67/77 | €2,421,561 | €2,152,306 | -€269,255 | -11.1% |
| Taxes | 670/3 | €2,429,366 | €2,156,838 | -€272,528 | -11.2% |
| Tax adjustments and reversals of tax provisions | 77 | €7,805 | €4,533 | -€3,273 | -41.9% |
| Profit (loss) for the period | 9904 | €7,109,282 | €6,274,428 | -€834,854 | -11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,109,282 | €6,274,428 | -€834,854 | -11.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.