MANAV GROUP: 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.
MANAV GROUP
Largest movements
- Receivables within one year +€11,379
up €11,379 (+144.5%), from €7,873 to €19,252
of which Other amounts receivable: +€9,737
- Tangible fixed assets -€8,168
down €8,168 (-8.7%), from €93,985 to €85,817
of which Land and buildings: -€4,893
- Stocks and contracts -€6,853
down €6,853 (-40.5%), from €16,933 to €10,080
- Cash +€1,964
up €1,964 (+12.7%), from €15,507 to €17,471
mainly Depreciation (+€21,566) and Tax, wage and social debts (+€7,772)
- Trade debts -€18,433
down €18,433 (-20.5%), from €89,933 to €71,500
- Tax, wage and social debts +€7,772
up €7,772 (+417.1%), from €1,864 to €9,636
of which Remuneration and social security: +€8,970
- Other debts +€6,120
up €6,120 (+73.8%), from €8,288 to €14,408
- Staff costs +€21,340
up €21,340 (+55.3%), from €38,582 to €59,922
- Gross operating margin +€12,154
up €12,154 (+15.8%), from €77,011 to €89,166
- Depreciation -€3,385
down €3,385 (-13.6%), from €24,950 to €21,566
- Taxes -€2,497
down €2,497 (-72.8%), from €3,429 to €933
- Financial charges +€2,030
up €2,030 (+160.5%), from €1,265 to €3,295
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 | €147,618 | €145,484 | -€2,134 | -1.4% |
| Fixed assets | 21/28 | €102,985 | €94,817 | -€8,168 | -7.9% |
| Tangible fixed assets | 22/27 | €93,985 | €85,817 | -€8,168 | -8.7% |
| Land and buildings | 22 | €55,219 | €50,326 | -€4,893 | -8.9% |
| Plant, machinery and equipment | 23 | €30,877 | €31,049 | +€173 | +0.6% |
| Furniture and vehicles | 24 | €7,889 | €3,154 | -€4,736 | -60.0% |
| Other tangible fixed assets | 26 | - | €1,288 | +€1,288 | |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €44,633 | €50,667 | +€6,034 | +13.5% |
| Stocks and contracts in progress | 3 | €16,933 | €10,080 | -€6,853 | -40.5% |
| Stocks | 30/36 | €16,933 | €10,080 | -€6,853 | -40.5% |
| Amounts receivable within one year | 40/41 | €7,873 | €19,252 | +€11,379 | +144.5% |
| Trade receivables | 40 | €7,873 | €9,515 | +€1,642 | +20.9% |
| Other amounts receivable | 41 | - | €9,737 | +€9,737 | |
| Cash at bank and in hand | 54/58 | €15,507 | €17,471 | +€1,964 | +12.7% |
| Deferred charges and accrued income | 490/1 | €4,321 | €3,864 | -€457 | -10.6% |
| Total equity and liabilities | 10/49 | €147,618 | €145,484 | -€2,134 | -1.4% |
| Equity | 10/15 | €45,659 | €46,811 | +€1,153 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,059 | €28,211 | +€1,153 | +4.3% |
| Distributable reserves | 133 | €27,059 | €28,211 | +€1,153 | +4.3% |
| Amounts payable | 17/49 | €101,960 | €98,673 | -€3,287 | -3.2% |
| Amounts payable within one year | 42/48 | €101,960 | €98,673 | -€3,287 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €1,875 | €3,128 | +€1,253 | +66.8% |
| Trade debts | 44 | €89,933 | €71,500 | -€18,433 | -20.5% |
| Suppliers | 440/4 | €89,933 | €71,500 | -€18,433 | -20.5% |
| Taxes, remuneration and social security | 45 | €1,864 | €9,636 | +€7,772 | +417.1% |
| Taxes | 450/3 | €1,401 | €204 | -€1,198 | -85.5% |
| Remuneration and social security | 454/9 | €462 | €9,432 | +€8,970 | +1939.5% |
| Other amounts payable | 47/48 | €8,288 | €14,408 | +€6,120 | +73.8% |
| Non-recurring operating income | 76A | €1,437 | - | -€1,437 | |
| Remuneration, social security and pensions | 62 | €38,582 | €59,922 | +€21,340 | +55.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,950 | €21,566 | -€3,385 | -13.6% |
| Other operating charges | 640/8 | €1,662 | €2,851 | +€1,189 | +71.5% |
| Gross operating margin | 9900 | €77,011 | €89,166 | +€12,154 | +15.8% |
| Operating profit (loss) | 9901 | €11,817 | €4,828 | -€6,990 | -59.1% |
| Financial income | 75/76B | €51 | €553 | +€502 | +977.8% |
| Recurring financial income | 75 | €51 | €553 | +€502 | +977.8% |
| Financial charges | 65/66B | €1,265 | €3,295 | +€2,030 | +160.5% |
| Recurring financial charges | 65 | €1,265 | €3,295 | +€2,030 | +160.5% |
| Profit (loss) for the period before taxes | 9903 | €10,604 | €2,086 | -€8,518 | -80.3% |
| Income taxes | 67/77 | €3,429 | €933 | -€2,497 | -72.8% |
| Profit (loss) for the period | 9904 | €7,175 | €1,153 | -€6,022 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,175 | €1,153 | -€6,022 | -83.9% |
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 10 October 2026 via checked.be.