MONAR
ActiveSummary
MONAR has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€101,533) and a net result of -€4,465. Equity is shrinking by about 23% per year across the filed financial years. Its solvency ranks better than 5% of 12,672 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (27 days) Filed on 27 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00045324.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €4,388 in 2025 against €4,422 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €898 | €898 | €898 | €898 | €898 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €4,453 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €450 | €457 | €502 | €437 | ▼ 13.0% |
| Gross operating margin9900 | -€10,144 | €1,113 | -€25,431 | -€59,949 | -€5,159 | -€3,021 | -€3,950 | ▼ 30.7% |
| Operating profit (loss)9901 | -€9,893 | €214 | -€26,878 | -€65,750 | -€6,514 | -€4,422 | -€4,388 | ▲ 0.8% |
| Financial income75/76B | - | - | - | €50 | - | €2,716 | - | - |
| Recurring financial income75 | - | €0 | €0 | €50 | - | €2,716 | - | - |
| Financial charges65/66B | - | - | - | €174 | €98 | €98 | €78 | ▼ 20.5% |
| Recurring financial charges65 | €100 | €393 | €1,604 | €174 | €98 | €98 | €78 | ▼ 20.5% |
| Profit (loss) for the period before taxes9903 | -€9,993 | -€179 | -€28,481 | -€65,874 | -€6,612 | -€1,804 | -€4,465 | ▼ 148% |
| Profit (loss) for the period9904 | -€9,993 | -€179 | -€28,481 | -€65,874 | -€6,612 | -€1,804 | -€4,465 | ▼ 148% |
| Profit (loss) for the period to be appropriated9905 | -€9,993 | -€179 | -€28,481 | -€65,874 | -€6,612 | -€1,804 | -€4,465 | ▼ 148% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €10,847 | €161,038 | €147,299 | €66,591 | €58,355 | €54,593 | €49,559 | ▼ 9.2% |
| Fixed assets21/28 | - | €3,594 | €2,695 | €1,797 | €898 | €40,000 | €40,000 | = |
| Intangible fixed assets21 | - | €2,560 | €1,920 | €1,280 | €640 | - | - | - |
| Tangible fixed assets22/27 | - | €1,034 | €775 | €517 | €258 | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €517 | €258 | - | - | - |
| Financial fixed assets28 | - | - | - | - | - | €40,000 | €40,000 | = |
| Current assets29/58 | €10,847 | €157,445 | €144,604 | €64,795 | €57,457 | €14,593 | €9,559 | ▼ 34.5% |
| Stocks and contracts in progress3 | - | €29,062 | €20,949 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €908 | €8,913 | €2,395 | €9,169 | €219 | €429 | €71 | ▼ 83.5% |
| Trade receivables40 | - | - | - | €819 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €8,350 | €219 | €429 | €71 | ▼ 83.5% |
| Cash at bank and in hand54/58 | €9,939 | €119,470 | €121,260 | €55,331 | €57,238 | €14,164 | €9,489 | ▼ 33.0% |
| Deferred charges and accrued income490/1 | - | - | - | €295 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €10,847 | €161,038 | €147,299 | €66,591 | €58,355 | €54,593 | €49,559 | ▼ 9.2% |
| Equity10/15 | €5,883 | €5,704 | -€22,777 | -€88,651 | -€95,263 | -€97,067 | -€101,533 | ▼ 4.6% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€2,176 | -€2,355 | -€30,836 | -€96,710 | -€103,323 | -€105,126 | -€109,592 | ▼ 4.2% |
| Amounts payable17/49 | €4,965 | €155,334 | €170,076 | €155,243 | €153,618 | €151,660 | €151,092 | ▼ 0.4% |
| Amounts payable within one year42/48 | €4,223 | €154,861 | €169,583 | €154,738 | €153,284 | €151,075 | €150,244 | ▼ 0.6% |
| Trade debts44 | €1,480 | €1,984 | €6,204 | €4,738 | €3,284 | €1,075 | €244 | ▼ 77.3% |
| Suppliers440/4 | - | - | - | €4,738 | €3,284 | €1,075 | €244 | ▼ 77.3% |
| Other amounts payable47/48 | - | - | - | €150,000 | €150,000 | €150,000 | €150,000 | = |
| Accrued charges and deferred income492/3 | - | - | - | €505 | €335 | €585 | €848 | ▲ 44.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,993 | -€179 | -€28,481 | -€65,874 | -€6,612 | -€1,804 | -€4,465 | ▼ 148% |
| + Depreciation and write-downs630 | - | €898 | €898 | €898 | €898 | €898 | - | - |
| Operating cash flow (approximation) | -€9,993 | €720 | -€27,583 | -€64,976 | -€5,714 | -€905 | -€4,465 | ▼ 393% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | -€40,000 | €0 | - |
| Change in cash | - | €109,530 | €1,791 | -€65,930 | €1,907 | -€43,074 | -€4,676 | ▲ 89.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 30 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | abbreviated format | 27-02-2026 | 2026-00045324 |
| 30-06-2024 | abbreviated format | 31-01-2025 | 2025-00020146 |
| 30-06-2023 | abbreviated format | 01-02-2024 | 2024-00020482 |
| 30-06-2022 | abbreviated format | 31-01-2023 | 2023-00016941 |
| 30-06-2021 | abbreviated format | 28-01-2022 | 2022-02300166 |
| 30-06-2020 | abbreviated format | 02-02-2021 | 2021-04600085 |
| 30-06-2019 | abbreviated format | 29-01-2020 | 2020-02500182 |
| 30-06-2018 | micro format | 30-01-2019 | 2019-02800468 |
| 30-06-2017 | micro format | 29-01-2018 | 2018-02400489 |
| 30-06-2016 | abbreviated format | 30-12-2016 | 2016-71900506 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.