MNGT: 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.
MNGT
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€269,663
up €269,663 (+377.5%), from €71,435 to €341,098
- Debts after one year -€220,925
down €220,925 (-5.7%), from €3.9m to €3.6m
of which Other amounts payable: -€150,000
- Accrued charges and deferred income -€111,511
down €111,511 (-30.7%), from €363,708 to €252,197
- Profit (loss) carried forward -€84,337
down €84,337 (-103.7%), from -€81,306 to -€165,643
- Financial charges +€37,432
up €37,432 (+17.9%), from €209,171 to €246,603
- Financial income +€28,937
up €28,937 (+18.5%), from €156,408 to €185,345
- Depreciation -€14,832
down €14,832 (-9.9%), from €149,690 to €134,857
- Gross operating margin +€14,566
up €14,566 (+12.3%), from €118,430 to €132,995
- Other operating charges +€3,965
up €3,965 (+29.6%), from €13,409 to €17,374
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,678,117 | €7,606,248 | -€71,869 | -0.9% |
| Fixed assets | 21/28 | €4,266,764 | €4,243,701 | -€23,063 | -0.5% |
| Tangible fixed assets | 22/27 | €3,462,552 | €3,438,574 | -€23,977 | -0.7% |
| Land and buildings | 22 | €3,173,273 | €3,070,273 | -€102,999 | -3.2% |
| Plant, machinery and equipment | 23 | €201,948 | €235,415 | +€33,467 | +16.6% |
| Furniture and vehicles | 24 | €44,570 | €36,566 | -€8,004 | -18.0% |
| Assets under construction and advance payments | 27 | €42,762 | €96,320 | +€53,558 | +125.2% |
| Financial fixed assets | 28 | €804,213 | €805,127 | +€914 | +0.1% |
| Current assets | 29/58 | €3,411,352 | €3,362,547 | -€48,806 | -1.4% |
| Amounts receivable within one year | 40/41 | €2,690,054 | €2,654,478 | -€35,576 | -1.3% |
| Trade receivables | 40 | €2,521 | €66,358 | +€63,837 | +2532.0% |
| Other amounts receivable | 41 | €2,687,533 | €2,588,120 | -€99,412 | -3.7% |
| Cash at bank and in hand | 54/58 | €721,298 | €705,983 | -€15,315 | -2.1% |
| Deferred charges and accrued income | 490/1 | - | €2,085 | +€2,085 | |
| Total equity and liabilities | 10/49 | €7,678,117 | €7,606,248 | -€71,869 | -0.9% |
| Equity | 10/15 | €3,311,430 | €3,227,093 | -€84,337 | -2.5% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €2,392,736 | €2,392,736 | = | 0.0% |
| Distributable reserves | 133 | €2,392,736 | €2,392,736 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,306 | -€165,643 | -€84,337 | -103.7% |
| Amounts payable | 17/49 | €4,366,687 | €4,379,155 | +€12,468 | +0.3% |
| Amounts payable after more than one year | 17 | €3,859,031 | €3,638,106 | -€220,925 | -5.7% |
| Financial debts | 170/4 | €459,031 | €388,106 | -€70,925 | -15.5% |
| Other amounts payable | 178/9 | €3,400,000 | €3,250,000 | -€150,000 | -4.4% |
| Amounts payable within one year | 42/48 | €143,948 | €488,851 | +€344,904 | +239.6% |
| Current portion of amounts payable after more than one year | 42 | €69,870 | €70,925 | +€1,055 | +1.5% |
| Trade debts | 44 | €2,643 | €76,246 | +€73,603 | +2785.2% |
| Suppliers | 440/4 | €2,643 | €76,246 | +€73,603 | +2785.2% |
| Taxes, remuneration and social security | 45 | - | €582 | +€582 | |
| Taxes | 450/3 | - | €582 | +€582 | |
| Other amounts payable | 47/48 | €71,435 | €341,098 | +€269,663 | +377.5% |
| Accrued charges and deferred income | 492/3 | €363,708 | €252,197 | -€111,511 | -30.7% |
| Non-recurring operating income | 76A | €2,802 | - | -€2,802 | |
| Remuneration, social security and pensions | 62 | - | €868 | +€868 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,690 | €134,857 | -€14,832 | -9.9% |
| Other operating charges | 640/8 | €13,409 | €17,374 | +€3,965 | +29.6% |
| Non-recurring operating charges | 66A | €147 | €2,611 | +€2,464 | +1681.4% |
| Gross operating margin | 9900 | €118,430 | €132,995 | +€14,566 | +12.3% |
| Operating profit (loss) | 9901 | -€44,816 | -€22,714 | +€22,101 | +49.3% |
| Financial income | 75/76B | €156,408 | €185,345 | +€28,937 | +18.5% |
| Recurring financial income | 75 | €156,408 | €185,345 | +€28,937 | +18.5% |
| Financial charges | 65/66B | €209,171 | €246,603 | +€37,432 | +17.9% |
| Recurring financial charges | 65 | €209,171 | €246,603 | +€37,432 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | -€97,579 | -€83,972 | +€13,607 | +13.9% |
| Income taxes | 67/77 | €0 | €365 | +€365 | +3649500.0% |
| Profit (loss) for the period | 9904 | -€97,579 | -€84,337 | +€13,242 | +13.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€97,579 | -€84,337 | +€13,242 | +13.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.