VAN DEN MANACKER: 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.
VAN DEN MANACKER
Largest movements
- Tangible fixed assets -€46,214
down €46,214 (-14.1%), from €326,772 to €280,558
of which Plant, machinery and equipment: -€45,207
- Receivables within one year +€18,404
up €18,404 (+11.5%), from €160,674 to €179,078
of which Other amounts receivable: +€21,724
- Reserves +€75,249
up €75,249 (+71.2%), from €105,615 to €180,864
- Trade debts -€57,636
down €57,636 (-22.6%), from €255,239 to €197,603
- Debts after one year -€41,122
down €41,122 (-74.0%), from €55,606 to €14,484
- Tax, wage and social debts -€5,324
down €5,324 (-43.8%), from €12,160 to €6,835
of which Remuneration and social security: -€9,736
- Gross operating margin +€73,686
up €73,686 (+53.1%), from €138,778 to €212,463
- Staff costs -€37,243
down €37,243 (-29.7%), from €125,206 to €87,963
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 | €495,508 | €467,765 | -€27,743 | -5.6% |
| Fixed assets | 21/28 | €326,772 | €280,558 | -€46,214 | -14.1% |
| Tangible fixed assets | 22/27 | €326,772 | €280,558 | -€46,214 | -14.1% |
| Plant, machinery and equipment | 23 | €268,759 | €223,552 | -€45,207 | -16.8% |
| Furniture and vehicles | 24 | €58,013 | €57,006 | -€1,007 | -1.7% |
| Current assets | 29/58 | €168,736 | €187,207 | +€18,471 | +10.9% |
| Amounts receivable within one year | 40/41 | €160,674 | €179,078 | +€18,404 | +11.5% |
| Trade receivables | 40 | €75,854 | €72,534 | -€3,320 | -4.4% |
| Other amounts receivable | 41 | €84,820 | €106,544 | +€21,724 | +25.6% |
| Cash at bank and in hand | 54/58 | €8,062 | €7,735 | -€327 | -4.1% |
| Deferred charges and accrued income | 490/1 | €0 | €394 | +€394 | |
| Total equity and liabilities | 10/49 | €495,508 | €467,765 | -€27,743 | -5.6% |
| Equity | 10/15 | €111,815 | €187,064 | +€75,249 | +67.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €105,615 | €180,864 | +€75,249 | +71.2% |
| Distributable reserves | 133 | €105,615 | €180,864 | +€75,249 | +71.2% |
| Amounts payable | 17/49 | €383,693 | €280,701 | -€102,992 | -26.8% |
| Amounts payable after more than one year | 17 | €55,606 | €14,484 | -€41,122 | -74.0% |
| Financial debts | 170/4 | €55,606 | €14,484 | -€41,122 | -74.0% |
| Amounts payable within one year | 42/48 | €328,088 | €266,007 | -€62,081 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €60,689 | €61,569 | +€880 | +1.5% |
| Trade debts | 44 | €255,239 | €197,603 | -€57,636 | -22.6% |
| Suppliers | 440/4 | €255,239 | €197,603 | -€57,636 | -22.6% |
| Taxes, remuneration and social security | 45 | €12,160 | €6,835 | -€5,324 | -43.8% |
| Taxes | 450/3 | €2,424 | €6,835 | +€4,412 | +182.0% |
| Remuneration and social security | 454/9 | €9,736 | €0 | -€9,736 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €211 | +€211 | |
| Remuneration, social security and pensions | 62 | €125,206 | €87,963 | -€37,243 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,650 | €46,216 | -€434 | -0.9% |
| Other operating charges | 640/8 | €1,440 | €978 | -€462 | -32.1% |
| Gross operating margin | 9900 | €138,778 | €212,463 | +€73,686 | +53.1% |
| Operating profit (loss) | 9901 | -€34,519 | €77,306 | +€111,825 | |
| Financial income | 75/76B | €1,484 | €3,064 | +€1,580 | +106.5% |
| Recurring financial income | 75 | €1,484 | €3,064 | +€1,580 | +106.5% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,790 | €5,121 | +€1,332 | +35.1% |
| Recurring financial charges | 65 | €3,790 | €5,121 | +€1,332 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | -€36,825 | €75,249 | +€112,073 | |
| Profit (loss) for the period | 9904 | -€36,825 | €75,249 | +€112,073 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,825 | €75,249 | +€112,073 |
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 11 October 2026 via checked.be.