Project Mango: 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.
Project Mango
Largest movements
- Cash -€35,263
down €35,263 (-33.8%), from €104,445 to €69,181
mainly Contributions, distributions and other (-€58,330) and Receivables within one year (-€21,700)
- Receivables within one year +€21,700
up €21,700 (+23.4%), from €92,923 to €114,624
of which Trade receivables: +€16,180
- Tangible fixed assets -€10,873
down €10,873 (-57.2%), from €19,011 to €8,138
of which Furniture and vehicles: -€10,474
- Current investments -€2,251
no longer reported in 2025 (was €2,251)
- Other debts -€11,348
down €11,348 (-9.8%), from €115,784 to €104,435
- Debts after one year -€6,988
no longer reported in 2025 (was €6,988)
- Tax, wage and social debts -€6,899
down €6,899 (-39.5%), from €17,484 to €10,585
- Gross operating margin +€9,942
up €9,942 (+13.2%), from €75,101 to €85,043
- Financial income -€3,017
down €3,017 (-69.9%), from €4,316 to €1,299
- Taxes +€1,381
up €1,381 (+9.9%), from €14,012 to €15,393
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 | €218,631 | €191,943 | -€26,687 | -12.2% |
| Fixed assets | 21/28 | €19,011 | €8,138 | -€10,873 | -57.2% |
| Tangible fixed assets | 22/27 | €19,011 | €8,138 | -€10,873 | -57.2% |
| Furniture and vehicles | 24 | €17,051 | €6,577 | -€10,474 | -61.4% |
| Other tangible fixed assets | 26 | €1,960 | €1,561 | -€399 | -20.4% |
| Current assets | 29/58 | €199,620 | €183,805 | -€15,815 | -7.9% |
| Amounts receivable within one year | 40/41 | €92,923 | €114,624 | +€21,700 | +23.4% |
| Trade receivables | 40 | €9,075 | €25,255 | +€16,180 | +178% |
| Other amounts receivable | 41 | €83,848 | €89,369 | +€5,520 | +6.6% |
| Current investments | 50/53 | €2,251 | - | -€2,251 | |
| Cash at bank and in hand | 54/58 | €104,445 | €69,181 | -€35,263 | -33.8% |
| Total equity and liabilities | 10/49 | €218,631 | €191,943 | -€26,687 | -12.2% |
| Equity | 10/15 | €69,275 | €69,275 | = | 0.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €68,775 | €68,775 | = | 0.0% |
| Distributable reserves | 133 | €68,775 | €68,775 | = | 0.0% |
| Amounts payable | 17/49 | €149,356 | €122,668 | -€26,687 | -17.9% |
| Amounts payable after more than one year | 17 | €6,988 | - | -€6,988 | |
| Financial debts | 170/4 | €6,988 | - | -€6,988 | |
| Amounts payable within one year | 42/48 | €142,368 | €122,668 | -€19,699 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €8,305 | €6,988 | -€1,317 | -15.9% |
| Trade debts | 44 | €795 | €660 | -€135 | -16.9% |
| Suppliers | 440/4 | €795 | €660 | -€135 | -16.9% |
| Taxes, remuneration and social security | 45 | €17,484 | €10,585 | -€6,899 | -39.5% |
| Taxes | 450/3 | €17,484 | €10,585 | -€6,899 | -39.5% |
| Other amounts payable | 47/48 | €115,784 | €104,435 | -€11,348 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,529 | €10,873 | +€344 | +3.3% |
| Other operating charges | 640/8 | €911 | €1,528 | +€617 | +67.7% |
| Gross operating margin | 9900 | €75,101 | €85,043 | +€9,942 | +13.2% |
| Operating profit (loss) | 9901 | €63,661 | €72,642 | +€8,981 | +14.1% |
| Financial income | 75/76B | €4,316 | €1,299 | -€3,017 | -69.9% |
| Recurring financial income | 75 | €4,316 | €1,299 | -€3,017 | -69.9% |
| Financial charges | 65/66B | €278 | €218 | -€60 | -21.4% |
| Recurring financial charges | 65 | €278 | €218 | -€60 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €67,699 | €73,723 | +€6,024 | +8.9% |
| Income taxes | 67/77 | €14,012 | €15,393 | +€1,381 | +9.9% |
| Profit (loss) for the period | 9904 | €53,687 | €58,330 | +€4,643 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,687 | €58,330 | +€4,643 | +8.6% |
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 16 October 2026 via checked.be.