MANUTTI: 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
MANUTTI
NACE 46.494, Wholesale of non-electrical household articles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2.9m
2024 · -€2.1m-€804,617
Equity
€2.6m
2024 · €5.6m-€2.9m
Cash
€412,556
2024 · €328,169+€84,387
Balance sheet total
€9.6m
2024 · €12.0m-€2.3m
Largest movements
Assets
- Stocks and contracts -€2.6m
down €2.6m (-29.9%), from €8.7m to €6.1m
- Financial fixed assets +€1.7m
up €1.7m (+27,771%), from €6,274 to €1.7m
of which Affiliated companies: +€1.7m
- Receivables after one year -€1.7m
down €1.7m (-100%), from €1.7m to €0
- Receivables within one year +€324,267
up €324,267 (+50.2%), from €645,344 to €969,611
of which Trade receivables: +€186,975
Equity and liabilities
- Reserves -€2.9m
down €2.9m (-52.9%), from €5.5m to €2.6m
of which Distributable reserves: -€2.9m
- Debts after one year +€2.5m
up €2.5m (+126%), from €2.0m to €4.5m
of which Other amounts payable: +€2.8m
- Short-term financial debts -€875,000
down €875,000 (-63.6%), from €1.4m to €500,000
- Other debts -€632,643
down €632,643 (-100%), from €632,643 to €0
- Current portion of long-term debt -€226,506
down €226,506 (-43.9%), from €516,438 to €289,932
Income statement
- Write-downs +€1.2m
up €1.2m (+122%), from €972,404 to €2.2m
- Turnover -€966,737
down €966,737 (-8.5%), from €11.4m to €10.4m
- Goods and materials -€695,520
down €695,520 (-13.3%), from €5.2m to €4.5m
of which Change in stocks: decrease (increase): -€1.3m
- Services and other goods -€245,031
down €245,031 (-4.7%), from €5.2m to €4.9m
- Staff costs -€148,707
down €148,707 (-8.5%), from €1.8m to €1.6m
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
-€2.1m
Turnover
-€966,737
Other operating income
+€15,442
Goods and materials
+€695,520
Services and other goods
+€245,031
Staff costs
+€148,707
Depreciation
+€110,895
Write-downs
-€1.2m
Provisions
-€60,000
Other operating charges
-€2,128
Other operating items
+€1,962
Financial income
+€72,064
Financial charges
+€121,757
Taxes
-€78
Result 2025
-€2.9m
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
+€482,685
Investment
-€1.8m
Financing
+€1.4m
Cash 2024
€328,169
From operations (derived)
+€482,685
Net result for the year
-€2.9m
Depreciation
+€194,689
Receivables after one year
+€1.7m
Stocks and contracts
+€2.6m
Receivables within one year
-€324,267
Deferred charges and accrued income
+€66,820
Provisions
+€60,000
Trade debts
-€223,209
Tax, wage and social debts
-€71,712
Advances received
+€73,724
Other debts
-€632,643
Accrued charges and deferred income
-€28,575
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Current investments
-€1
Financing
+€1.4m
Debts after one year
+€2.5m
Current portion of long-term debt
-€226,506
Short-term financial debts
-€875,000
Contributions, distributions and other
+€0
Cash 2025
€412,556
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,979,666 | €9,640,558 | -€2.3m | -19.5% |
| Fixed assets | 21/28 | €524,323 | €2,143,702 | +€1.6m | +309% |
| Intangible fixed assets | 21 | €90,761 | €62,161 | -€28,600 | -31.5% |
| Tangible fixed assets | 22/27 | €427,288 | €332,924 | -€94,364 | -22.1% |
| Plant, machinery and equipment | 23 | €99,051 | €62,848 | -€36,203 | -36.5% |
| Furniture and vehicles | 24 | €83,539 | €93,029 | +€9,490 | +11.4% |
| Leasing and similar rights | 25 | €5,324 | €1,567 | -€3,757 | -70.6% |
| Other tangible fixed assets | 26 | €239,374 | €175,480 | -€63,894 | -26.7% |
| Financial fixed assets | 28 | €6,274 | €1,748,617 | +€1.7m | +27,771% |
| Affiliated companies | 280/1 | - | €1,743,295 | +€1.7m | |
| Participating interests | 280 | - | €354,304 | +€354,304 | |
| Amounts receivable | 281 | - | €1,388,991 | +€1.4m | |
| Other financial fixed assets | 284/8 | €6,274 | €5,322 | -€952 | -15.2% |
| Amounts receivable and cash guarantees | 285/8 | €6,274 | €5,322 | -€952 | -15.2% |
| Current assets | 29/58 | €11,455,343 | €7,496,856 | -€4.0m | -34.6% |
| Amounts receivable after more than one year | 29 | €1,709,113 | €0 | -€1.7m | -100% |
| Other amounts receivable | 291 | €1,709,113 | €0 | -€1.7m | -100% |
| Stocks and contracts in progress | 3 | €8,668,797 | €6,077,588 | -€2.6m | -29.9% |
| Stocks | 30/36 | €8,668,797 | €6,077,588 | -€2.6m | -29.9% |
| Raw materials and consumables | 30/31 | €3,976,780 | €3,718,691 | -€258,090 | -6.5% |
| Goods purchased for resale | 34 | €4,509,084 | €1,979,056 | -€2.5m | -56.1% |
| Advance payments | 36 | €182,933 | €379,842 | +€196,909 | +108% |
| Amounts receivable within one year | 40/41 | €645,344 | €969,611 | +€324,267 | +50.2% |
| Trade receivables | 40 | €420,493 | €607,468 | +€186,975 | +44.5% |
| Other amounts receivable | 41 | €224,851 | €362,143 | +€137,292 | +61.1% |
| Current investments | 50/53 | €1,140 | €1,141 | +€1 | +0.1% |
| Other investments | 51/53 | €1,140 | €1,141 | +€1 | +0.1% |
| Cash at bank and in hand | 54/58 | €328,169 | €412,556 | +€84,387 | +25.7% |
| Deferred charges and accrued income | 490/1 | €102,780 | €35,960 | -€66,820 | -65.0% |
| Total equity and liabilities | 10/49 | €11,979,666 | €9,640,558 | -€2.3m | -19.5% |
| Equity | 10/15 | €5,563,203 | €2,630,739 | -€2.9m | -52.7% |
| Contributions | 10/11 | €16,844 | €16,844 | -€0 | 0.0% |
| Reserves | 13 | €5,546,359 | €2,613,895 | -€2.9m | -52.9% |
| Non-distributable reserves | 130/1 | €1,684 | €0 | -€1,684 | -100% |
| Reserves not available under the articles | 1311 | €1,684 | €0 | -€1,684 | -100% |
| Tax-exempt reserves | 132 | €1,263,001 | €1,263,000 | -€1 | 0.0% |
| Distributable reserves | 133 | €4,281,674 | €1,350,895 | -€2.9m | -68.4% |
| Provisions and deferred taxes | 16 | €60,000 | €120,000 | +€60,000 | +100% |
| Provisions for liabilities and charges | 160/5 | €60,000 | €120,000 | +€60,000 | +100% |
| Other liabilities and charges | 164/5 | €60,000 | €120,000 | +€60,000 | +100% |
| Amounts payable | 17/49 | €6,356,463 | €6,889,819 | +€533,356 | +8.4% |
| Amounts payable after more than one year | 17 | €2,004,825 | €4,522,102 | +€2.5m | +126% |
| Financial debts | 170/4 | €548,675 | €282,418 | -€266,257 | -48.5% |
| Credit institutions | 173 | €548,675 | €282,418 | -€266,257 | -48.5% |
| Other amounts payable | 178/9 | €1,456,150 | €4,239,684 | +€2.8m | +191% |
| Amounts payable within one year | 42/48 | €4,318,782 | €2,363,436 | -€2.0m | -45.3% |
| Current portion of amounts payable after more than one year | 42 | €516,438 | €289,932 | -€226,506 | -43.9% |
| Financial debts | 43 | €1,375,000 | €500,000 | -€875,000 | -63.6% |
| Credit institutions | 430/8 | €1,375,000 | €500,000 | -€875,000 | -63.6% |
| Trade debts | 44 | €1,159,757 | €936,548 | -€223,209 | -19.2% |
| Suppliers | 440/4 | €1,159,757 | €936,548 | -€223,209 | -19.2% |
| Advances received on contracts in progress | 46 | €261,010 | €334,734 | +€73,724 | +28.2% |
| Taxes, remuneration and social security | 45 | €373,934 | €302,222 | -€71,712 | -19.2% |
| Taxes | 450/3 | €84,978 | €157,345 | +€72,367 | +85.2% |
| Remuneration and social security | 454/9 | €288,956 | €144,877 | -€144,079 | -49.9% |
| Other amounts payable | 47/48 | €632,643 | €0 | -€632,643 | -100% |
| Accrued charges and deferred income | 492/3 | €32,856 | €4,281 | -€28,575 | -87.0% |
| Operating income | 70/76A | €11,669,989 | €10,720,656 | -€949,333 | -8.1% |
| Turnover | 70 | €11,379,893 | €10,413,156 | -€966,737 | -8.5% |
| Other operating income | 74 | €290,096 | €305,538 | +€15,442 | +5.3% |
| Non-recurring operating income | 76A | - | €1,962 | +€1,962 | |
| Operating charges | 60/66A | €13,474,149 | €13,523,176 | +€49,027 | +0.4% |
| Goods for resale, raw materials and consumables | 60 | €5,244,599 | €4,549,079 | -€695,520 | -13.3% |
| Purchases | 600/8 | €3,332,577 | €3,934,064 | +€601,487 | +18.0% |
| Change in stocks: decrease (increase) | 609 | €1,912,022 | €615,015 | -€1.3m | -67.8% |
| Services and other goods | 61 | €5,183,837 | €4,938,806 | -€245,031 | -4.7% |
| Remuneration, social security and pensions | 62 | €1,750,698 | €1,601,991 | -€148,707 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €305,584 | €194,689 | -€110,895 | -36.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €972,404 | €2,159,457 | +€1.2m | +122% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €60,000 | +€60,000 | |
| Other operating charges | 640/8 | €17,027 | €19,155 | +€2,128 | +12.5% |
| Operating profit (loss) | 9901 | -€1,804,160 | -€2,802,520 | -€998,360 | -55.3% |
| Financial income | 75/76B | €15,375 | €87,439 | +€72,064 | +469% |
| Recurring financial income | 75 | €15,375 | €87,439 | +€72,064 | +469% |
| Income from current assets | 751 | - | €631 | +€631 | |
| Other financial income | 752/9 | €15,375 | €86,808 | +€71,433 | +465% |
| Financial charges | 65/66B | €336,665 | €214,908 | -€121,757 | -36.2% |
| Recurring financial charges | 65 | €336,665 | €214,908 | -€121,757 | -36.2% |
| Debt charges | 650 | €275,557 | €154,449 | -€121,108 | -44.0% |
| Other financial charges | 652/9 | €61,108 | €60,459 | -€649 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,125,450 | -€2,929,989 | -€804,539 | -37.9% |
| Income taxes | 67/77 | €2,397 | €2,475 | +€78 | +3.2% |
| Taxes | 670/3 | €2,397 | €2,475 | +€78 | +3.2% |
| Profit (loss) for the period | 9904 | -€2,127,847 | -€2,932,464 | -€804,617 | -37.8% |
| Transfer from tax-exempt reserves | 789 | €71,545 | €0 | -€71,545 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,056,302 | -€2,932,464 | -€876,162 | -42.6% |
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 16 October 2026 via checked.be.