MANZANA: 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.
MANZANA
Largest movements
- Receivables within one year -€43,375
down €43,375 (-100%), from €43,375 to €0
- Cash +€9,374
up €9,374 (+1,036%), from €905 to €10,279
mainly Receivables within one year (+€43,375) and Net result for the year (+€36,030)
- Other debts -€72,054
down €72,054 (-65.0%), from €110,799 to €38,744
- Profit (loss) carried forward +€36,030
up €36,030 (+37.4%), from -€96,243 to -€60,213
- Trade debts +€2,798
up €2,798 (+50.9%), from €5,499 to €8,297
- Tax, wage and social debts -€745
down €745 (-12.1%), from €6,145 to €5,401
of which Taxes: -€559
- Gross operating margin -€15,503
down €15,503 (-29.3%), from €52,995 to €37,492
- Other operating charges -€805
down €805 (-65.5%), from €1,229 to €424
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 | €44,780 | €10,779 | -€34,001 | -75.9% |
| Fixed assets | 21/28 | €500 | €500 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €44,280 | €10,279 | -€34,001 | -76.8% |
| Amounts receivable within one year | 40/41 | €43,375 | €0 | -€43,375 | -100% |
| Trade receivables | 40 | €43,375 | €0 | -€43,375 | -100% |
| Cash at bank and in hand | 54/58 | €905 | €10,279 | +€9,374 | +1,036% |
| Total equity and liabilities | 10/49 | €44,780 | €10,779 | -€34,001 | -75.9% |
| Equity | 10/15 | -€77,693 | -€41,663 | +€36,030 | +46.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,243 | -€60,213 | +€36,030 | +37.4% |
| Amounts payable | 17/49 | €122,473 | €52,442 | -€70,031 | -57.2% |
| Amounts payable within one year | 42/48 | €122,473 | €52,442 | -€70,031 | -57.2% |
| Financial debts | 43 | €30 | €0 | -€30 | -100% |
| Credit institutions | 430/8 | €30 | €0 | -€30 | -100% |
| Trade debts | 44 | €5,499 | €8,297 | +€2,798 | +50.9% |
| Suppliers | 440/4 | €5,499 | €8,297 | +€2,798 | +50.9% |
| Taxes, remuneration and social security | 45 | €6,145 | €5,401 | -€745 | -12.1% |
| Taxes | 450/3 | €5,257 | €4,698 | -€559 | -10.6% |
| Remuneration and social security | 454/9 | €888 | €703 | -€185 | -20.8% |
| Other amounts payable | 47/48 | €110,799 | €38,744 | -€72,054 | -65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,229 | €424 | -€805 | -65.5% |
| Non-recurring operating charges | 66A | €6,994 | €0 | -€6,994 | -100% |
| Gross operating margin | 9900 | €52,995 | €37,492 | -€15,503 | -29.3% |
| Operating profit (loss) | 9901 | €44,772 | €37,068 | -€7,704 | -17.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €315 | €812 | +€498 | +158% |
| Recurring financial charges | 65 | €315 | €812 | +€498 | +158% |
| Profit (loss) for the period before taxes | 9903 | €44,457 | €36,256 | -€8,201 | -18.4% |
| Income taxes | 67/77 | €115 | €225 | +€110 | +95.1% |
| Profit (loss) for the period | 9904 | €44,341 | €36,030 | -€8,311 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,341 | €36,030 | -€8,311 | -18.7% |
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 22 October 2026 via checked.be.