AF-MONTAGE SPECIAL: what changed
What changed
AF-MONTAGE SPECIAL
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€12,740
2024 · €34,463-€21,723
Equity
€51,203
2024 · €38,463+€12,740
Cash
€475
2024 · €234+€241
Balance sheet total
€288,709
2024 · €162,482+€126,227
Largest movements
Assets
- Receivables within one year +€117,148
up €117,148 (+82.7%), from €141,683 to €258,831
of which Trade receivables: +€114,564
- Receivables after one year +€8,596
up €8,596 (+43.3%), from €19,869 to €28,465
Equity and liabilities
- Trade debts +€116,425
up €116,425 (+110%), from €105,544 to €221,969
- Profit (loss) carried forward +€12,740
up €12,740 (+37.0%), from €34,463 to €47,203
- Tax, wage and social debts -€3,202
down €3,202 (-17.3%), from €18,475 to €15,273
of which Taxes: -€5,555
Income statement
- Gross operating margin -€26,662
down €26,662 (-32.1%), from €83,069 to €56,407
- Taxes -€5,473
down €5,473 (-58.0%), from €9,431 to €3,958
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€34,463
Gross operating margin
-€26,662
Staff costs
-€394
Other operating charges
-€251
Financial income
+€105
Financial charges
+€6
Taxes
+€5,473
Result 2025
€12,740
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€466
Investment
-€225
Financing
€0
Cash 2024
€234
From operations (derived)
+€466
Net result for the year
+€12,740
Receivables after one year
-€8,596
Receivables within one year
-€117,148
Smaller working-capital items
+€247
Trade debts
+€116,425
Tax, wage and social debts
-€3,202
Investment (derived)
-€225
Current investments
-€225
Cash 2025
€475
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €162,482 | €288,709 | +€126,227 | +77.7% |
| Fixed assets | 21/28 | €505 | €505 | = | 0.0% |
| Financial fixed assets | 28 | €505 | €505 | = | 0.0% |
| Current assets | 29/58 | €161,977 | €288,204 | +€126,227 | +77.9% |
| Amounts receivable after more than one year | 29 | €19,869 | €28,465 | +€8,596 | +43.3% |
| Other amounts receivable | 291 | €19,869 | €28,465 | +€8,596 | +43.3% |
| Amounts receivable within one year | 40/41 | €141,683 | €258,831 | +€117,148 | +82.7% |
| Trade receivables | 40 | €139,112 | €253,676 | +€114,564 | +82.4% |
| Other amounts receivable | 41 | €2,571 | €5,155 | +€2,584 | +101% |
| Current investments | 50/53 | - | €225 | +€225 | |
| Cash at bank and in hand | 54/58 | €234 | €475 | +€241 | +103% |
| Deferred charges and accrued income | 490/1 | €191 | €208 | +€17 | +8.9% |
| Total equity and liabilities | 10/49 | €162,482 | €288,709 | +€126,227 | +77.7% |
| Equity | 10/15 | €38,463 | €51,203 | +€12,740 | +33.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,463 | €47,203 | +€12,740 | +37.0% |
| Amounts payable | 17/49 | €124,019 | €237,506 | +€113,487 | +91.5% |
| Amounts payable within one year | 42/48 | €124,019 | €237,431 | +€113,412 | +91.4% |
| Trade debts | 44 | €105,544 | €221,969 | +€116,425 | +110% |
| Suppliers | 440/4 | €105,544 | €221,969 | +€116,425 | +110% |
| Taxes, remuneration and social security | 45 | €18,475 | €15,273 | -€3,202 | -17.3% |
| Taxes | 450/3 | €9,481 | €3,926 | -€5,555 | -58.6% |
| Remuneration and social security | 454/9 | €8,994 | €11,347 | +€2,353 | +26.2% |
| Other amounts payable | 47/48 | - | €189 | +€189 | |
| Accrued charges and deferred income | 492/3 | - | €75 | +€75 | |
| Remuneration, social security and pensions | 62 | €38,539 | €38,933 | +€394 | +1.0% |
| Other operating charges | 640/8 | €500 | €751 | +€251 | +50.2% |
| Gross operating margin | 9900 | €83,069 | €56,407 | -€26,662 | -32.1% |
| Operating profit (loss) | 9901 | €44,030 | €16,723 | -€27,307 | -62.0% |
| Financial income | 75/76B | €39 | €144 | +€105 | +269% |
| Recurring financial income | 75 | €39 | €144 | +€105 | +269% |
| Financial charges | 65/66B | €175 | €169 | -€6 | -3.4% |
| Recurring financial charges | 65 | €175 | €169 | -€6 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €43,894 | €16,698 | -€27,196 | -62.0% |
| Income taxes | 67/77 | €9,431 | €3,958 | -€5,473 | -58.0% |
| Profit (loss) for the period | 9904 | €34,463 | €12,740 | -€21,723 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,463 | €12,740 | -€21,723 | -63.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.