MNGMNT: 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.
MNGMNT
Largest movements
- Receivables within one year +€10,724
new in 2025: €10,724
- Deferred charges and accrued income -€7,541
down €7,541 (-71.8%), from €10,500 to €2,959
- Tangible fixed assets -€5,335
down €5,335 (-9.0%), from €59,383 to €54,048
of which Leasing and similar rights: -€9,759
- Formation expenses -€1,089
down €1,089 (-100.0%), from €1,089 to €0
- Debts after one year -€8,306
down €8,306 (-22.1%), from €37,610 to €29,304
- Reserves +€7,318
up €7,318 (+85.9%), from €8,521 to €15,839
- Trade debts -€3,685
down €3,685 (-56.3%), from €6,547 to €2,862
- Tax, wage and social debts +€1,005
up €1,005 (+12.7%), from €7,920 to €8,925
- Gross operating margin +€7,492
up €7,492 (+30.6%), from €24,513 to €32,005
- Depreciation +€5,932
up €5,932 (+63.9%), from €9,289 to €15,221
- Financial charges +€1,150
up €1,150 (+76.4%), from €1,505 to €2,655
- Taxes +€473
up €473 (+15.5%), from €3,049 to €3,521
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 | €79,733 | €76,789 | -€2,943 | -3.7% |
| Formation expenses | 20 | €1,089 | €0 | -€1,089 | -100.0% |
| Fixed assets | 21/28 | €59,383 | €54,048 | -€5,335 | -9.0% |
| Tangible fixed assets | 22/27 | €59,383 | €54,048 | -€5,335 | -9.0% |
| Plant, machinery and equipment | 23 | €2,319 | €8,001 | +€5,682 | +245.0% |
| Furniture and vehicles | 24 | €3,276 | €2,296 | -€980 | -29.9% |
| Leasing and similar rights | 25 | €51,289 | €41,530 | -€9,759 | -19.0% |
| Other tangible fixed assets | 26 | €2,499 | €2,221 | -€278 | -11.1% |
| Current assets | 29/58 | €19,260 | €22,741 | +€3,480 | +18.1% |
| Amounts receivable within one year | 40/41 | - | €10,724 | +€10,724 | |
| Trade receivables | 40 | - | €10,724 | +€10,724 | |
| Cash at bank and in hand | 54/58 | €8,760 | €9,057 | +€297 | +3.4% |
| Deferred charges and accrued income | 490/1 | €10,500 | €2,959 | -€7,541 | -71.8% |
| Total equity and liabilities | 10/49 | €79,733 | €76,789 | -€2,943 | -3.7% |
| Equity | 10/15 | €9,021 | €16,339 | +€7,318 | +81.1% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €8,521 | €15,839 | +€7,318 | +85.9% |
| Distributable reserves | 133 | €8,521 | €15,839 | +€7,318 | +85.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €70,712 | €60,450 | -€10,261 | -14.5% |
| Amounts payable after more than one year | 17 | €37,610 | €29,304 | -€8,306 | -22.1% |
| Financial debts | 170/4 | €37,610 | €29,304 | -€8,306 | -22.1% |
| Amounts payable within one year | 42/48 | €32,940 | €30,588 | -€2,352 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €10,312 | €10,746 | +€434 | +4.2% |
| Trade debts | 44 | €6,547 | €2,862 | -€3,685 | -56.3% |
| Suppliers | 440/4 | €6,547 | €2,862 | -€3,685 | -56.3% |
| Taxes, remuneration and social security | 45 | €7,920 | €8,925 | +€1,005 | +12.7% |
| Taxes | 450/3 | €7,920 | €8,925 | +€1,005 | +12.7% |
| Other amounts payable | 47/48 | €8,160 | €8,054 | -€105 | -1.3% |
| Accrued charges and deferred income | 492/3 | €162 | €559 | +€397 | +245.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,289 | €15,221 | +€5,932 | +63.9% |
| Other operating charges | 640/8 | €1,335 | €1,216 | -€119 | -8.9% |
| Non-recurring operating charges | 66A | - | €1,215 | +€1,215 | |
| Gross operating margin | 9900 | €24,513 | €32,005 | +€7,492 | +30.6% |
| Operating profit (loss) | 9901 | €13,889 | €14,353 | +€464 | +3.3% |
| Financial income | 75/76B | €19 | €0 | -€19 | -99.5% |
| Recurring financial income | 75 | €19 | €0 | -€19 | -99.5% |
| Financial charges | 65/66B | €1,505 | €2,655 | +€1,150 | +76.4% |
| Recurring financial charges | 65 | €1,505 | €2,655 | +€1,150 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €12,403 | €11,698 | -€704 | -5.7% |
| Income taxes | 67/77 | €3,049 | €3,521 | +€473 | +15.5% |
| Profit (loss) for the period | 9904 | €9,354 | €8,177 | -€1,177 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,354 | €8,177 | -€1,177 | -12.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.