B.V. MONTAGE: 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.
B.V. MONTAGE
Largest movements
- Tangible fixed assets +€114,465
up €114,465 (+134%), from €85,735 to €200,200
of which Plant, machinery and equipment: +€93,798
- Receivables within one year +€32,447
up €32,447 (+16.7%), from €194,324 to €226,771
of which Trade receivables: +€23,316
- Stocks and contracts -€21,396
down €21,396 (-27.7%), from €77,267 to €55,871
- Debts after one year +€96,875
up €96,875 (+267%), from €36,248 to €133,123
- Current portion of long-term debt +€46,229
up €46,229 (+378%), from €12,220 to €58,449
- Trade debts -€34,067
down €34,067 (-18.3%), from €185,725 to €151,658
- Reserves +€27,741
up €27,741 (+27.7%), from €99,999 to €127,740
- Tax, wage and social debts -€10,946
down €10,946 (-44.0%), from €24,858 to €13,911
of which Taxes: -€9,735
- Staff costs +€55,544
up €55,544 (+50.0%), from €111,163 to €166,707
- Financial charges +€12,445
up €12,445 (+76.2%), from €16,339 to €28,784
- Depreciation +€10,160
up €10,160 (+32.7%), from €31,076 to €41,236
- Gross operating margin +€8,636
up €8,636 (+3.2%), from €267,868 to €276,504
- Financial income +€3,609
up €3,609 (+183%), from €1,971 to €5,580
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 | €363,856 | €487,881 | +€124,026 | +34.1% |
| Fixed assets | 21/28 | €86,235 | €200,700 | +€114,465 | +133% |
| Tangible fixed assets | 22/27 | €85,735 | €200,200 | +€114,465 | +134% |
| Plant, machinery and equipment | 23 | €38,882 | €132,679 | +€93,798 | +241% |
| Furniture and vehicles | 24 | €46,854 | €67,521 | +€20,667 | +44.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €277,620 | €287,181 | +€9,561 | +3.4% |
| Stocks and contracts in progress | 3 | €77,267 | €55,871 | -€21,396 | -27.7% |
| Contracts in progress | 37 | €77,267 | €55,871 | -€21,396 | -27.7% |
| Amounts receivable within one year | 40/41 | €194,324 | €226,771 | +€32,447 | +16.7% |
| Trade receivables | 40 | €175,431 | €198,748 | +€23,316 | +13.3% |
| Other amounts receivable | 41 | €18,893 | €28,024 | +€9,130 | +48.3% |
| Cash at bank and in hand | 54/58 | €4,518 | €138 | -€4,381 | -97.0% |
| Deferred charges and accrued income | 490/1 | €1,510 | €4,402 | +€2,891 | +191% |
| Total equity and liabilities | 10/49 | €363,856 | €487,881 | +€124,026 | +34.1% |
| Equity | 10/15 | €102,999 | €130,740 | +€27,741 | +26.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €99,999 | €127,740 | +€27,741 | +27.7% |
| Distributable reserves | 133 | €99,999 | €127,740 | +€27,741 | +27.7% |
| Amounts payable | 17/49 | €260,857 | €357,141 | +€96,284 | +36.9% |
| Amounts payable after more than one year | 17 | €36,248 | €133,123 | +€96,875 | +267% |
| Financial debts | 170/4 | €36,248 | €133,123 | +€96,875 | +267% |
| Amounts payable within one year | 42/48 | €223,109 | €224,018 | +€909 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €12,220 | €58,449 | +€46,229 | +378% |
| Trade debts | 44 | €185,725 | €151,658 | -€34,067 | -18.3% |
| Suppliers | 440/4 | €185,725 | €151,658 | -€34,067 | -18.3% |
| Taxes, remuneration and social security | 45 | €24,858 | €13,911 | -€10,946 | -44.0% |
| Taxes | 450/3 | €18,071 | €8,336 | -€9,735 | -53.9% |
| Remuneration and social security | 454/9 | €6,787 | €5,576 | -€1,211 | -17.8% |
| Other amounts payable | 47/48 | €307 | - | -€307 | |
| Accrued charges and deferred income | 492/3 | €1,500 | - | -€1,500 | |
| Non-recurring operating income | 76A | - | €517 | +€517 | |
| Remuneration, social security and pensions | 62 | €111,163 | €166,707 | +€55,544 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,076 | €41,236 | +€10,160 | +32.7% |
| Other operating charges | 640/8 | €1,611 | €4,415 | +€2,805 | +174% |
| Non-recurring operating charges | 66A | €1,946 | €4,870 | +€2,923 | +150% |
| Gross operating margin | 9900 | €267,868 | €276,504 | +€8,636 | +3.2% |
| Operating profit (loss) | 9901 | €122,072 | €59,275 | -€62,796 | -51.4% |
| Financial income | 75/76B | €1,971 | €5,580 | +€3,609 | +183% |
| Recurring financial income | 75 | €1,971 | €5,580 | +€3,609 | +183% |
| Financial charges | 65/66B | €16,339 | €28,784 | +€12,445 | +76.2% |
| Recurring financial charges | 65 | €16,339 | €28,784 | +€12,445 | +76.2% |
| Profit (loss) for the period before taxes | 9903 | €107,704 | €36,071 | -€71,632 | -66.5% |
| Income taxes | 67/77 | €11,070 | €8,330 | -€2,740 | -24.8% |
| Profit (loss) for the period | 9904 | €96,634 | €27,741 | -€68,892 | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €96,634 | €27,741 | -€68,892 | -71.3% |
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 30 October 2026 via checked.be.