PASCAL MANNENS: 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.
PASCAL MANNENS
Largest movements
- Cash +€39,863
up €39,863 (+70.9%), from €56,226 to €96,089
mainly Net result for the year (+€34,689) and Receivables within one year (+€19,638)
- Receivables within one year -€19,638
down €19,638 (-41.6%), from €47,190 to €27,552
of which Trade receivables: -€22,990
- Current investments +€5,182
up €5,182 (+10.5%), from €49,159 to €54,341
- Reserves +€34,689
up €34,689 (+31.0%), from €111,925 to €146,614
of which Distributable reserves: +€34,689
- Tax, wage and social debts -€5,075
down €5,075 (-33.4%), from €15,207 to €10,132
of which Taxes: -€5,075
- Gross operating margin +€22,577
up €22,577 (+67.5%), from €33,472 to €56,049
- Taxes +€6,743
up €6,743 (+68.1%), from €9,904 to €16,648
- Financial income +€5,179
up €5,179 (+172055.5%), from €3 to €5,182
- Depreciation +€2,253
up €2,253 (+45.6%), from €4,935 to €7,188
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 | €190,674 | €217,954 | +€27,280 | +14.3% |
| Fixed assets | 21/28 | €26,128 | €27,694 | +€1,566 | +6.0% |
| Tangible fixed assets | 22/27 | €26,128 | €27,694 | +€1,566 | +6.0% |
| Plant, machinery and equipment | 23 | €0 | €2,398 | +€2,398 | |
| Furniture and vehicles | 24 | €16,537 | €12,538 | -€4,000 | -24.2% |
| Other tangible fixed assets | 26 | €9,591 | €12,758 | +€3,168 | +33.0% |
| Current assets | 29/58 | €164,546 | €190,260 | +€25,714 | +15.6% |
| Amounts receivable within one year | 40/41 | €47,190 | €27,552 | -€19,638 | -41.6% |
| Trade receivables | 40 | €47,190 | €24,200 | -€22,990 | -48.7% |
| Other amounts receivable | 41 | - | €3,352 | +€3,352 | |
| Current investments | 50/53 | €49,159 | €54,341 | +€5,182 | +10.5% |
| Cash at bank and in hand | 54/58 | €56,226 | €96,089 | +€39,863 | +70.9% |
| Deferred charges and accrued income | 490/1 | €11,971 | €12,277 | +€307 | +2.6% |
| Total equity and liabilities | 10/49 | €190,674 | €217,954 | +€27,280 | +14.3% |
| Equity | 10/15 | €124,325 | €159,014 | +€34,689 | +27.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €111,925 | €146,614 | +€34,689 | +31.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €111,925 | €146,614 | +€34,689 | +31.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €66,349 | €58,940 | -€7,409 | -11.2% |
| Amounts payable within one year | 42/48 | €64,578 | €58,940 | -€5,638 | -8.7% |
| Financial debts | 43 | €1,425 | €30 | -€1,395 | -97.9% |
| Credit institutions | 430/8 | €1,425 | €30 | -€1,395 | -97.9% |
| Trade debts | 44 | €1,556 | €2,670 | +€1,114 | +71.6% |
| Suppliers | 440/4 | €1,556 | €2,670 | +€1,114 | +71.6% |
| Taxes, remuneration and social security | 45 | €15,207 | €10,132 | -€5,075 | -33.4% |
| Taxes | 450/3 | €11,607 | €6,532 | -€5,075 | -43.7% |
| Remuneration and social security | 454/9 | €3,600 | €3,600 | = | 0.0% |
| Other amounts payable | 47/48 | €46,389 | €46,107 | -€282 | -0.6% |
| Accrued charges and deferred income | 492/3 | €1,771 | €0 | -€1,771 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,935 | €7,188 | +€2,253 | +45.6% |
| Other operating charges | 640/8 | €1,771 | €1,828 | +€57 | +3.2% |
| Gross operating margin | 9900 | €33,472 | €56,049 | +€22,577 | +67.5% |
| Operating profit (loss) | 9901 | €26,766 | €47,033 | +€20,267 | +75.7% |
| Financial income | 75/76B | €3 | €5,182 | +€5,179 | +172055.5% |
| Recurring financial income | 75 | €3 | €5,182 | +€5,179 | +172055.5% |
| Financial charges | 65/66B | €632 | €878 | +€245 | +38.8% |
| Recurring financial charges | 65 | €632 | €878 | +€245 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | €26,136 | €51,337 | +€25,201 | +96.4% |
| Income taxes | 67/77 | €9,904 | €16,648 | +€6,743 | +68.1% |
| Profit (loss) for the period | 9904 | €16,232 | €34,689 | +€18,457 | +113.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,232 | €34,689 | +€18,457 | +113.7% |
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 9 October 2026 via checked.be.