MANY WORKS: 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.
MANY WORKS
Largest movements
- Receivables within one year +€168,555
up €168,555 (+49.0%), from €344,165 to €512,720
of which Trade receivables: +€144,552
- Tangible fixed assets -€18,362
down €18,362 (-29.5%), from €62,328 to €43,966
of which Furniture and vehicles: -€11,771
- Cash -€9,091
down €9,091 (-41.0%), from €22,150 to €13,060
mainly Receivables within one year (-€168,555) and Tax, wage and social debts (-€27,769)
- Trade debts +€129,420
up €129,420 (+348%), from €37,139 to €166,559
- Profit (loss) carried forward +€33,964
up €33,964 (+10.8%), from €313,873 to €347,838
- Tax, wage and social debts -€27,769
down €27,769 (-72.9%), from €38,104 to €10,335
- Current portion of long-term debt +€16,789
up €16,789 (+108%), from €15,481 to €32,270
- Debts after one year -€8,993
down €8,993 (-77.3%), from €11,629 to €2,636
- Gross operating margin -€114,664
down €114,664 (-69.1%), from €165,892 to €51,227
- Purchases and services +€77,237
up €77,237 (+17.9%), from €431,886 to €509,123
- Turnover -€37,428
down €37,428 (-6.3%), from €597,778 to €560,350
- Taxes -€24,159
down €24,159 (-70.0%), from €34,494 to €10,335
- Financial income +€9,202
up €9,202 (+72.2%), from €12,752 to €21,954
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €428,986 | €572,532 | +€143,546 | +33.5% |
| Fixed assets | 21/28 | €62,478 | €44,116 | -€18,362 | -29.4% |
| Tangible fixed assets | 22/27 | €62,328 | €43,966 | -€18,362 | -29.5% |
| Plant, machinery and equipment | 23 | €25,968 | €19,377 | -€6,591 | -25.4% |
| Furniture and vehicles | 24 | €36,359 | €24,588 | -€11,771 | -32.4% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €366,508 | €528,416 | +€161,908 | +44.2% |
| Amounts receivable within one year | 40/41 | €344,165 | €512,720 | +€168,555 | +49.0% |
| Trade receivables | 40 | €74,826 | €219,377 | +€144,552 | +193% |
| Other amounts receivable | 41 | €269,339 | €293,342 | +€24,004 | +8.9% |
| Cash at bank and in hand | 54/58 | €22,150 | €13,060 | -€9,091 | -41.0% |
| Deferred charges and accrued income | 490/1 | €194 | €2,637 | +€2,443 | +1,262% |
| Total equity and liabilities | 10/49 | €428,986 | €572,532 | +€143,546 | +33.5% |
| Equity | 10/15 | €326,633 | €360,598 | +€33,964 | +10.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,560 | €6,560 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,700 | €4,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €313,873 | €347,838 | +€33,964 | +10.8% |
| Amounts payable | 17/49 | €102,353 | €211,934 | +€109,582 | +107% |
| Amounts payable after more than one year | 17 | €11,629 | €2,636 | -€8,993 | -77.3% |
| Financial debts | 170/4 | €11,629 | €2,636 | -€8,993 | -77.3% |
| Amounts payable within one year | 42/48 | €90,724 | €209,299 | +€118,575 | +131% |
| Current portion of amounts payable after more than one year | 42 | €15,481 | €32,270 | +€16,789 | +108% |
| Financial debts | 43 | - | €135 | +€135 | |
| Credit institutions | 430/8 | - | €135 | +€135 | |
| Trade debts | 44 | €37,139 | €166,559 | +€129,420 | +348% |
| Suppliers | 440/4 | €37,139 | €166,559 | +€129,420 | +348% |
| Taxes, remuneration and social security | 45 | €38,104 | €10,335 | -€27,769 | -72.9% |
| Taxes | 450/3 | €38,104 | €10,335 | -€27,769 | -72.9% |
| Turnover | 70 | €597,778 | €560,350 | -€37,428 | -6.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €431,886 | €509,123 | +€77,237 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,687 | €26,614 | +€4,927 | +22.7% |
| Other operating charges | 640/8 | €30 | €346 | +€316 | +1,053% |
| Non-recurring operating charges | 66A | €1,721 | - | -€1,721 | |
| Gross operating margin | 9900 | €165,892 | €51,227 | -€114,664 | -69.1% |
| Operating profit (loss) | 9901 | €142,453 | €24,268 | -€118,186 | -83.0% |
| Financial income | 75/76B | €12,752 | €21,954 | +€9,202 | +72.2% |
| Recurring financial income | 75 | €12,752 | €21,954 | +€9,202 | +72.2% |
| Financial charges | 65/66B | €4,973 | €1,923 | -€3,050 | -61.3% |
| Recurring financial charges | 65 | €4,973 | €1,923 | -€3,050 | -61.3% |
| Profit (loss) for the period before taxes | 9903 | €150,232 | €44,299 | -€105,933 | -70.5% |
| Income taxes | 67/77 | €34,494 | €10,335 | -€24,159 | -70.0% |
| Profit (loss) for the period | 9904 | €115,739 | €33,964 | -€81,775 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €115,739 | €33,964 | -€81,775 | -70.7% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.