o MANNE CELESTE: 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.
o MANNE CELESTE
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+128%), from €933,554 to €2.1m
of which Other amounts receivable: +€861,854
- Financial fixed assets -€107,559
down €107,559 (-34.3%), from €313,500 to €205,941
- Receivables after one year -€55,000
down €55,000 (-100%), from €55,000 to €0
- Cash -€44,622
down €44,622 (-75.5%), from €59,116 to €14,494
mainly Receivables within one year (-€1.2m) and Contributions, distributions and other (-€61,500)
- Trade debts +€543,339
up €543,339 (+505%), from €107,639 to €650,978
- Profit (loss) carried forward +€324,768
up €324,768 (+156%), from €208,728 to €533,496
- Tax, wage and social debts +€74,092
up €74,092 (+192%), from €38,581 to €112,672
- Debts after one year +€68,836
up €68,836 (+13.3%), from €517,431 to €586,267
- Investment grants -€61,500
down €61,500 (-69.9%), from €88,032 to €26,532
- Turnover -€372,233
no longer reported in 2025 (was €372,233)
- Depreciation -€320,937
down €320,937 (-98.8%), from €324,827 to €3,890
- Purchases and services -€113,293
no longer reported in 2025 (was €113,293)
- Gross operating margin +€89,186
up €89,186 (+33.7%), from €264,293 to €353,479
- Taxes +€59,321
up €59,321 (+43,494%), from €136 to €59,458
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 | €1,478,976 | €2,446,097 | +€967,121 | +65.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €376,675 | €265,226 | -€111,449 | -29.6% |
| Intangible fixed assets | 21 | €772 | €0 | -€772 | -100% |
| Tangible fixed assets | 22/27 | €62,403 | €59,285 | -€3,118 | -5.0% |
| Land and buildings | 22 | €31,950 | €31,950 | = | 0.0% |
| Plant, machinery and equipment | 23 | €30,453 | €27,335 | -€3,118 | -10.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | €313,500 | €205,941 | -€107,559 | -34.3% |
| Current assets | 29/58 | €1,102,301 | €2,180,871 | +€1.1m | +97.8% |
| Amounts receivable after more than one year | 29 | €55,000 | €0 | -€55,000 | -100% |
| Other amounts receivable | 291 | €55,000 | €0 | -€55,000 | -100% |
| Amounts receivable within one year | 40/41 | €933,554 | €2,125,782 | +€1.2m | +128% |
| Trade receivables | 40 | €128,765 | €459,140 | +€330,374 | +257% |
| Other amounts receivable | 41 | €804,789 | €1,666,643 | +€861,854 | +107% |
| Cash at bank and in hand | 54/58 | €59,116 | €14,494 | -€44,622 | -75.5% |
| Deferred charges and accrued income | 490/1 | €54,631 | €40,594 | -€14,036 | -25.7% |
| Total equity and liabilities | 10/49 | €1,478,976 | €2,446,097 | +€967,121 | +65.4% |
| Equity | 10/15 | €318,760 | €582,028 | +€263,268 | +82.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €208,728 | €533,496 | +€324,768 | +156% |
| Investment grants | 15 | €88,032 | €26,532 | -€61,500 | -69.9% |
| Provisions and deferred taxes | 16 | €210,000 | €228,667 | +€18,667 | +8.9% |
| Provisions for liabilities and charges | 160/5 | €210,000 | €228,667 | +€18,667 | +8.9% |
| Major repairs and maintenance | 162 | €210,000 | €228,667 | +€18,667 | +8.9% |
| Amounts payable | 17/49 | €950,216 | €1,635,403 | +€685,187 | +72.1% |
| Amounts payable after more than one year | 17 | €517,431 | €586,267 | +€68,836 | +13.3% |
| Financial debts | 170/4 | €517,431 | €586,267 | +€68,836 | +13.3% |
| Amounts payable within one year | 42/48 | €432,784 | €1,049,135 | +€616,351 | +142% |
| Current portion of amounts payable after more than one year | 42 | €236,406 | €252,199 | +€15,793 | +6.7% |
| Financial debts | 43 | €21,699 | €0 | -€21,699 | -100% |
| Credit institutions | 430/8 | €21,699 | €0 | -€21,699 | -100% |
| Trade debts | 44 | €107,639 | €650,978 | +€543,339 | +505% |
| Suppliers | 440/4 | €107,639 | €650,978 | +€543,339 | +505% |
| Taxes, remuneration and social security | 45 | €38,581 | €112,672 | +€74,092 | +192% |
| Taxes | 450/3 | €38,581 | €112,672 | +€74,092 | +192% |
| Other amounts payable | 47/48 | €28,459 | €33,286 | +€4,827 | +17.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €372,233 | - | -€372,233 | |
| Non-recurring operating income | 76A | €3,989 | - | -€3,989 | |
| Goods, raw materials, services and sundry goods | 60/61 | €113,293 | - | -€113,293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €324,827 | €3,890 | -€320,937 | -98.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €18,667 | €18,667 | = | 0.0% |
| Other operating charges | 640/8 | €18,044 | €19,069 | +€1,025 | +5.7% |
| Gross operating margin | 9900 | €264,293 | €353,479 | +€89,186 | +33.7% |
| Operating profit (loss) | 9901 | -€97,245 | €311,853 | +€409,098 | |
| Financial income | 75/76B | €105,464 | €99,524 | -€5,940 | -5.6% |
| Recurring financial income | 75 | €105,464 | €99,524 | -€5,940 | -5.6% |
| Financial charges | 65/66B | €47,634 | €27,152 | -€20,482 | -43.0% |
| Recurring financial charges | 65 | €47,634 | €27,152 | -€20,482 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | -€39,415 | €384,226 | +€423,640 | |
| Income taxes | 67/77 | €136 | €59,458 | +€59,321 | +43,494% |
| Profit (loss) for the period | 9904 | -€39,551 | €324,768 | +€364,319 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,551 | €324,768 | +€364,319 |
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 1 November 2026 via checked.be.