MANO: 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.
MANO
Largest movements
- Receivables within one year -€48,363
down €48,363 (-38.7%), from €124,869 to €76,506
of which Trade receivables: -€51,021
- Tangible fixed assets -€8,021
down €8,021 (-25.2%), from €31,828 to €23,807
of which Furniture and vehicles: -€7,798
- Other debts -€49,731
down €49,731 (-47.6%), from €104,493 to €54,762
- Debts after one year -€9,211
down €9,211 (-35.0%), from €26,281 to €17,070
- Profit (loss) carried forward +€6,940
up €6,940 (+1,649%), from €421 to €7,361
- Current portion of long-term debt -€5,949
down €5,949 (-39.2%), from €15,160 to €9,211
- Gross operating margin -€12,597
down €12,597 (-13.5%), from €93,052 to €80,455
- Taxes -€3,548
down €3,548 (-16.2%), from €21,890 to €18,342
- Depreciation +€1,357
up €1,357 (+20.4%), from €6,664 to €8,021
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 | €175,815 | €118,543 | -€57,272 | -32.6% |
| Fixed assets | 21/28 | €31,828 | €23,807 | -€8,021 | -25.2% |
| Tangible fixed assets | 22/27 | €31,828 | €23,807 | -€8,021 | -25.2% |
| Plant, machinery and equipment | 23 | €662 | €439 | -€223 | -33.7% |
| Furniture and vehicles | 24 | €31,166 | €23,368 | -€7,798 | -25.0% |
| Current assets | 29/58 | €143,987 | €94,736 | -€49,251 | -34.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €124,869 | €76,506 | -€48,363 | -38.7% |
| Trade receivables | 40 | €124,869 | €73,848 | -€51,021 | -40.9% |
| Other amounts receivable | 41 | €0 | €2,658 | +€2,658 | |
| Cash at bank and in hand | 54/58 | €18,864 | €17,961 | -€903 | -4.8% |
| Deferred charges and accrued income | 490/1 | €254 | €269 | +€15 | +5.9% |
| Total equity and liabilities | 10/49 | €175,815 | €118,543 | -€57,272 | -32.6% |
| Equity | 10/15 | €921 | €7,861 | +€6,940 | +754% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €421 | €7,361 | +€6,940 | +1,649% |
| Amounts payable | 17/49 | €174,894 | €110,682 | -€64,212 | -36.7% |
| Amounts payable after more than one year | 17 | €26,281 | €17,070 | -€9,211 | -35.0% |
| Financial debts | 170/4 | €26,281 | €17,070 | -€9,211 | -35.0% |
| Amounts payable within one year | 42/48 | €146,553 | €90,662 | -€55,892 | -38.1% |
| Current portion of amounts payable after more than one year | 42 | €15,160 | €9,211 | -€5,949 | -39.2% |
| Trade debts | 44 | €455 | €1,442 | +€987 | +217% |
| Suppliers | 440/4 | €455 | €1,442 | +€987 | +217% |
| Taxes, remuneration and social security | 45 | €26,445 | €25,247 | -€1,198 | -4.5% |
| Taxes | 450/3 | €25,133 | €23,247 | -€1,886 | -7.5% |
| Remuneration and social security | 454/9 | €1,312 | €2,000 | +€688 | +52.4% |
| Other amounts payable | 47/48 | €104,493 | €54,762 | -€49,731 | -47.6% |
| Accrued charges and deferred income | 492/3 | €2,060 | €2,950 | +€890 | +43.2% |
| Non-recurring operating income | 76A | €174 | €0 | -€174 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,664 | €8,021 | +€1,357 | +20.4% |
| Other operating charges | 640/8 | €1,278 | €982 | -€296 | -23.1% |
| Gross operating margin | 9900 | €93,052 | €80,455 | -€12,597 | -13.5% |
| Operating profit (loss) | 9901 | €85,110 | €71,452 | -€13,658 | -16.0% |
| Financial income | 75/76B | €4 | €36 | +€32 | +903% |
| Recurring financial income | 75 | €4 | €36 | +€32 | +903% |
| Financial charges | 65/66B | €1,972 | €1,205 | -€767 | -38.9% |
| Recurring financial charges | 65 | €1,972 | €1,205 | -€767 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €83,141 | €70,282 | -€12,859 | -15.5% |
| Income taxes | 67/77 | €21,890 | €18,342 | -€3,548 | -16.2% |
| Profit (loss) for the period | 9904 | €61,251 | €51,940 | -€9,311 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,251 | €51,940 | -€9,311 | -15.2% |
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 21 October 2026 via checked.be.