Manuus: 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.
Manuus
Largest movements
- Stocks and contracts -€905,053
down €905,053 (-73.4%), from €1.2m to €327,224
- Receivables within one year -€348,483
down €348,483 (-79.8%), from €436,502 to €88,019
of which Trade receivables: -€345,101
- Advances received -€1.1m
down €1.1m (-82.1%), from €1.3m to €237,335
- Trade debts -€289,484
down €289,484 (-71.0%), from €407,898 to €118,414
- Profit (loss) carried forward +€136,222
up €136,222 (+30.9%), from -€440,191 to -€303,969
- Gross operating margin +€379,238
up €379,238, from -€214,324 to €164,915
- Write-downs -€136,511
down €136,511 (-94.2%), from €144,990 to €8,479
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 | €1,763,644 | €500,068 | -€1.3m | -71.6% |
| Fixed assets | 21/28 | €85,898 | €71,349 | -€14,549 | -16.9% |
| Intangible fixed assets | 21 | €10,191 | €6,921 | -€3,270 | -32.1% |
| Tangible fixed assets | 22/27 | €75,707 | €64,428 | -€11,279 | -14.9% |
| Other tangible fixed assets | 26 | €75,707 | €64,428 | -€11,279 | -14.9% |
| Current assets | 29/58 | €1,677,746 | €428,719 | -€1.2m | -74.4% |
| Stocks and contracts in progress | 3 | €1,232,277 | €327,224 | -€905,053 | -73.4% |
| Contracts in progress | 37 | €1,232,277 | €327,224 | -€905,053 | -73.4% |
| Amounts receivable within one year | 40/41 | €436,502 | €88,019 | -€348,483 | -79.8% |
| Trade receivables | 40 | €433,056 | €87,956 | -€345,101 | -79.7% |
| Other amounts receivable | 41 | €3,446 | €64 | -€3,382 | -98.1% |
| Cash at bank and in hand | 54/58 | €2,651 | €3,594 | +€944 | +35.6% |
| Deferred charges and accrued income | 490/1 | €6,317 | €9,882 | +€3,565 | +56.4% |
| Total equity and liabilities | 10/49 | €1,763,644 | €500,068 | -€1.3m | -71.6% |
| Equity | 10/15 | -€390,191 | -€253,969 | +€136,222 | +34.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€440,191 | -€303,969 | +€136,222 | +30.9% |
| Amounts payable | 17/49 | €2,153,835 | €754,037 | -€1.4m | -65.0% |
| Amounts payable after more than one year | 17 | €256,875 | €256,875 | = | 0.0% |
| Financial debts | 170/4 | €256,875 | €256,875 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,893,497 | €490,633 | -€1.4m | -74.1% |
| Financial debts | 43 | - | €311 | +€311 | |
| Credit institutions | 430/8 | - | €311 | +€311 | |
| Trade debts | 44 | €407,898 | €118,414 | -€289,484 | -71.0% |
| Suppliers | 440/4 | €407,898 | €118,414 | -€289,484 | -71.0% |
| Advances received on contracts in progress | 46 | €1,322,868 | €237,335 | -€1.1m | -82.1% |
| Taxes, remuneration and social security | 45 | €15,721 | €4,522 | -€11,199 | -71.2% |
| Taxes | 450/3 | €15,721 | €4,522 | -€11,199 | -71.2% |
| Other amounts payable | 47/48 | €147,010 | €130,052 | -€16,958 | -11.5% |
| Accrued charges and deferred income | 492/3 | €3,464 | €6,530 | +€3,066 | +88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,549 | €14,549 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €144,990 | €8,479 | -€136,511 | -94.2% |
| Other operating charges | 640/8 | €528 | €748 | +€220 | +41.6% |
| Gross operating margin | 9900 | -€214,324 | €164,915 | +€379,238 | |
| Operating profit (loss) | 9901 | -€374,390 | €141,139 | +€515,529 | |
| Financial income | 75/76B | €653 | €1,398 | +€746 | +114.3% |
| Recurring financial income | 75 | €653 | €1,398 | +€746 | +114.3% |
| Financial charges | 65/66B | €4,649 | €6,315 | +€1,665 | +35.8% |
| Recurring financial charges | 65 | €4,649 | €6,315 | +€1,665 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | -€378,387 | €136,222 | +€514,609 | |
| Profit (loss) for the period | 9904 | -€378,387 | €136,222 | +€514,609 | |
| Profit (loss) for the period to be appropriated | 9905 | -€378,387 | €136,222 | +€514,609 |
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 11 October 2026 via checked.be.