MANDRAKI: 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.
MANDRAKI
Largest movements
- Receivables within one year -€20,844
down €20,844 (-34.8%), from €59,931 to €39,087
of which Other amounts receivable: -€14,741
- Cash +€14,022
up €14,022 (+85.4%), from €16,415 to €30,437
mainly Receivables within one year (+€20,844) and Stocks and contracts (+€2,700)
- Deferred charges and accrued income +€2,862
up €2,862 (+2,033%), from €141 to €3,003
- Stocks and contracts -€2,700
down €2,700 (-39.7%), from €6,800 to €4,100
- Tangible fixed assets -€1,060
down €1,060 (-24.4%), from €4,343 to €3,282
- Trade debts -€9,453
down €9,453 (-23.4%), from €40,372 to €30,918
- Profit (loss) carried forward +€1,886
up €1,886 (+25.9%), from -€7,272 to -€5,386
- Staff costs -€14,322
down €14,322 (-9.6%), from €148,947 to €134,625
- Gross operating margin -€2,107
down €2,107 (-1.4%), from €146,480 to €144,372
- Financial charges +€2,000
up €2,000 (+321%), from €624 to €2,624
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 | €95,729 | €88,010 | -€7,719 | -8.1% |
| Fixed assets | 21/28 | €12,443 | €11,382 | -€1,060 | -8.5% |
| Tangible fixed assets | 22/27 | €4,343 | €3,282 | -€1,060 | -24.4% |
| Plant, machinery and equipment | 23 | €4,343 | €3,282 | -€1,060 | -24.4% |
| Financial fixed assets | 28 | €8,100 | €8,100 | = | 0.0% |
| Current assets | 29/58 | €83,286 | €76,627 | -€6,659 | -8.0% |
| Stocks and contracts in progress | 3 | €6,800 | €4,100 | -€2,700 | -39.7% |
| Stocks | 30/36 | €6,800 | €4,100 | -€2,700 | -39.7% |
| Amounts receivable within one year | 40/41 | €59,931 | €39,087 | -€20,844 | -34.8% |
| Trade receivables | 40 | €7,734 | €1,631 | -€6,103 | -78.9% |
| Other amounts receivable | 41 | €52,197 | €37,457 | -€14,741 | -28.2% |
| Cash at bank and in hand | 54/58 | €16,415 | €30,437 | +€14,022 | +85.4% |
| Deferred charges and accrued income | 490/1 | €141 | €3,003 | +€2,862 | +2,033% |
| Total equity and liabilities | 10/49 | €95,729 | €88,010 | -€7,719 | -8.1% |
| Equity | 10/15 | €33,106 | €34,992 | +€1,886 | +5.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €20,378 | €20,378 | = | 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% |
| Distributable reserves | 133 | €18,378 | €18,378 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,272 | -€5,386 | +€1,886 | +25.9% |
| Amounts payable | 17/49 | €62,623 | €53,017 | -€9,606 | -15.3% |
| Amounts payable within one year | 42/48 | €62,623 | €53,017 | -€9,606 | -15.3% |
| Trade debts | 44 | €40,372 | €30,918 | -€9,453 | -23.4% |
| Suppliers | 440/4 | €40,372 | €30,918 | -€9,453 | -23.4% |
| Taxes, remuneration and social security | 45 | €22,251 | €22,099 | -€152 | -0.7% |
| Taxes | 450/3 | €13,019 | €14,142 | +€1,123 | +8.6% |
| Remuneration and social security | 454/9 | €9,232 | €7,957 | -€1,275 | -13.8% |
| Remuneration, social security and pensions | 62 | €148,947 | €134,625 | -€14,322 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,066 | €2,085 | +€19 | +0.9% |
| Other operating charges | 640/8 | €2,444 | €3,153 | +€710 | +29.0% |
| Gross operating margin | 9900 | €146,480 | €144,372 | -€2,107 | -1.4% |
| Operating profit (loss) | 9901 | -€6,977 | €4,509 | +€11,486 | |
| Financial income | 75/76B | €329 | €1 | -€328 | -99.8% |
| Recurring financial income | 75 | €329 | €1 | -€328 | -99.8% |
| Financial charges | 65/66B | €624 | €2,624 | +€2,000 | +321% |
| Recurring financial charges | 65 | €624 | €2,624 | +€2,000 | +321% |
| Profit (loss) for the period before taxes | 9903 | -€7,272 | €1,886 | +€9,158 | |
| Profit (loss) for the period | 9904 | -€7,272 | €1,886 | +€9,158 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,272 | €1,886 | +€9,158 |
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 24 October 2026 via checked.be.