MANUTENCAO: 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
MANUTENCAO
NACE 20.412, Manufacture of chemicals and chemical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,447
2024 · €18,209-€15,762
Equity
€205,743
2024 · €203,296+€2,447
Cash
€1,839
2024 · €1,831+€8
Balance sheet total
€505,102
2024 · €518,186-€13,083
Largest movements
Assets
- Stocks and contracts -€8,232
down €8,232 (-50.0%), from €16,465 to €8,232
Equity and liabilities
- Other debts -€16,948
down €16,948 (-5.6%), from €302,232 to €285,284
Income statement
- Gross operating margin -€15,296
down €15,296 (-40.9%), from €37,427 to €22,131
- Depreciation -€6,394
down €6,394 (-100%), from €6,394 to €0
- Taxes -€1,693
down €1,693 (-32.8%), from €5,157 to €3,464
- Financial charges +€1,130
up €1,130 (+78.8%), from €1,435 to €2,565
of which Financial charges: +€1,130
- Other operating charges +€407
up €407 (+6.5%), from €6,238 to €6,645
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
€18,209
Gross operating margin
-€15,296
Depreciation
+€6,394
Other operating charges
-€407
Other operating items
-€7,021
Financial income
+€5
Financial charges
-€1,130
Taxes
+€1,693
Result 2025
€2,447
raises the resultlowers the resultnot broken down further in the accounts
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
-€6,100
Investment
+€2,664
Financing
+€3,444
Cash 2024
€1,831
From operations (derived)
-€6,100
Net result for the year
+€2,447
Stocks and contracts
+€8,232
Receivables within one year
+€3,271
Deferred charges and accrued income
-€1,077
Trade debts
-€2,647
Tax, wage and social debts
+€620
Other debts
-€16,948
Investment (derived)
+€2,664
Investment in fixed assets (net)
+€2,664
Financing
+€3,444
Short-term financial debts
+€3,444
Cash 2025
€1,839
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €518,186 | €505,102 | -€13,083 | -2.5% |
| Fixed assets | 21/28 | €4,064 | €1,400 | -€2,664 | -65.6% |
| Tangible fixed assets | 22/27 | €4,064 | €1,400 | -€2,664 | -65.6% |
| Furniture and vehicles | 24 | €4,064 | €1,400 | -€2,664 | -65.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €514,122 | €503,702 | -€10,419 | -2.0% |
| Stocks and contracts in progress | 3 | €16,465 | €8,232 | -€8,232 | -50.0% |
| Stocks | 30/36 | €16,465 | €8,232 | -€8,232 | -50.0% |
| Amounts receivable within one year | 40/41 | €494,342 | €491,071 | -€3,271 | -0.7% |
| Trade receivables | 40 | €7,623 | €2,627 | -€4,996 | -65.5% |
| Other amounts receivable | 41 | €486,719 | €488,443 | +€1,724 | +0.4% |
| Cash at bank and in hand | 54/58 | €1,831 | €1,839 | +€8 | +0.4% |
| Deferred charges and accrued income | 490/1 | €1,483 | €2,560 | +€1,077 | +72.6% |
| Total equity and liabilities | 10/49 | €518,186 | €505,102 | -€13,083 | -2.5% |
| Equity | 10/15 | €203,296 | €205,743 | +€2,447 | +1.2% |
| Contributions | 10/11 | €196,200 | €196,200 | = | 0.0% |
| Reserves | 13 | €23,324 | €23,324 | = | 0.0% |
| Distributable reserves | 133 | €23,324 | €23,324 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,228 | -€13,781 | +€2,447 | +15.1% |
| Amounts payable | 17/49 | €314,890 | €299,360 | -€15,531 | -4.9% |
| Amounts payable within one year | 42/48 | €314,890 | €299,360 | -€15,531 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,366 | €4,810 | +€3,444 | +252% |
| Credit institutions | 430/8 | €1,366 | €4,810 | +€3,444 | +252% |
| Trade debts | 44 | €5,493 | €2,847 | -€2,647 | -48.2% |
| Suppliers | 440/4 | €5,493 | €2,847 | -€2,647 | -48.2% |
| Taxes, remuneration and social security | 45 | €5,799 | €6,419 | +€620 | +10.7% |
| Taxes | 450/3 | €5,799 | €6,419 | +€620 | +10.7% |
| Other amounts payable | 47/48 | €302,232 | €285,284 | -€16,948 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,394 | €0 | -€6,394 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €6,238 | €6,645 | +€407 | +6.5% |
| Non-recurring operating charges | 66A | - | €7,021 | +€7,021 | |
| Gross operating margin | 9900 | €37,427 | €22,131 | -€15,296 | -40.9% |
| Operating profit (loss) | 9901 | €24,795 | €8,465 | -€16,329 | -65.9% |
| Financial income | 75/76B | €6 | €11 | +€5 | +74.7% |
| Recurring financial income | 75 | €6 | €11 | +€5 | +74.7% |
| Financial charges | 65/66B | €1,435 | €2,565 | +€1,130 | +78.8% |
| Recurring financial charges | 65 | €1,435 | €2,565 | +€1,130 | +78.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €23,366 | €5,911 | -€17,455 | -74.7% |
| Income taxes | 67/77 | €5,157 | €3,464 | -€1,693 | -32.8% |
| Profit (loss) for the period | 9904 | €18,209 | €2,447 | -€15,762 | -86.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,209 | €2,447 | -€15,762 | -86.6% |
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 29 October 2026 via checked.be.