De Munter: what changed
What changed
De Munter
NACE 43.341, Painting of buildings
filed annual accounts (NBB)
Net result for the year
€5,184
2024 · -€5,446+€10,630
Equity
€91,276
2024 · €86,925+€4,351
Cash
€37,351
2024 · €35,860+€1,491
Balance sheet total
€151,626
2024 · €149,794+€1,832
Largest movements
Assets
- Receivables within one year +€9,809
up €9,809 (+1,952%), from €502 to €10,311
of which Trade receivables: +€10,245
- Tangible fixed assets -€9,705
down €9,705 (-8.7%), from €112,044 to €102,339
of which Land and buildings: -€7,005
Equity and liabilities
- Reserves +€5,132
up €5,132 (+9.0%), from €57,124 to €62,256
of which Distributable reserves: +€10,000
- Other debts +€2,370
up €2,370 (+6.0%), from €39,519 to €41,889
- Provisions -€2,352
down €2,352 (-19.5%), from €12,069 to €9,717
- Trade debts -€2,056
down €2,056 (-51.7%), from €3,979 to €1,923
Income statement
- Gross operating margin +€12,054
up €12,054 (+186%), from €6,468 to €18,523
- Taxes +€1,110
up €1,110 (+691%), from €161 to €1,270
- Financial charges +€994
up €994 (+53.5%), from €1,858 to €2,852
- Depreciation -€714
down €714 (-6.9%), from €10,419 to €9,705
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
-€5,446
Gross operating margin
+€12,054
Depreciation
+€714
Other operating charges
-€50
Financial income
+€16
Financial charges
-€994
Taxes
-€1,110
Result 2025
€5,184
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
+€2,662
Investment
€0
Financing
-€1,171
Cash 2024
€35,860
From operations (derived)
+€2,662
Net result for the year
+€5,184
Depreciation
+€9,705
Stocks and contracts
-€160
Receivables within one year
-€9,809
Deferred charges and accrued income
-€77
Provisions
-€2,352
Trade debts
-€2,056
Tax, wage and social debts
-€1,152
Other debts
+€2,370
Accrued charges and deferred income
+€1,010
Financing
-€1,171
Current portion of long-term debt
-€338
Contributions, distributions and other
-€833
Cash 2025
€37,351
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,794 | €151,626 | +€1,832 | +1.2% |
| Fixed assets | 21/28 | €112,049 | €102,344 | -€9,705 | -8.7% |
| Tangible fixed assets | 22/27 | €112,044 | €102,339 | -€9,705 | -8.7% |
| Land and buildings | 22 | €100,959 | €93,954 | -€7,005 | -6.9% |
| Plant, machinery and equipment | 23 | €5,871 | €5,007 | -€864 | -14.7% |
| Other tangible fixed assets | 26 | €5,214 | €3,378 | -€1,836 | -35.2% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €37,745 | €49,282 | +€11,537 | +30.6% |
| Stocks and contracts in progress | 3 | €1,228 | €1,388 | +€160 | +13.0% |
| Stocks | 30/36 | €1,228 | €1,388 | +€160 | +13.0% |
| Amounts receivable within one year | 40/41 | €502 | €10,311 | +€9,809 | +1,952% |
| Trade receivables | 40 | €66 | €10,311 | +€10,245 | +15,506% |
| Other amounts receivable | 41 | €436 | - | -€436 | |
| Cash at bank and in hand | 54/58 | €35,860 | €37,351 | +€1,491 | +4.2% |
| Deferred charges and accrued income | 490/1 | €155 | €232 | +€77 | +50.0% |
| Total equity and liabilities | 10/49 | €149,794 | €151,626 | +€1,832 | +1.2% |
| Equity | 10/15 | €86,925 | €91,276 | +€4,351 | +5.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €57,124 | €62,256 | +€5,132 | +9.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,539 | €14,671 | -€4,868 | -24.9% |
| Distributable reserves | 133 | €35,726 | €45,726 | +€10,000 | +28.0% |
| Profit (loss) carried forward | 14 | €11,209 | €10,428 | -€781 | -7.0% |
| Provisions and deferred taxes | 16 | €12,069 | €9,717 | -€2,352 | -19.5% |
| Deferred taxes | 168 | €12,069 | €9,717 | -€2,352 | -19.5% |
| Amounts payable | 17/49 | €50,800 | €50,633 | -€167 | -0.3% |
| Amounts payable within one year | 42/48 | €49,004 | €47,828 | -€1,176 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €338 | - | -€338 | |
| Trade debts | 44 | €3,979 | €1,923 | -€2,056 | -51.7% |
| Suppliers | 440/4 | €3,979 | €1,923 | -€2,056 | -51.7% |
| Taxes, remuneration and social security | 45 | €5,169 | €4,016 | -€1,152 | -22.3% |
| Taxes | 450/3 | €5,169 | €4,016 | -€1,152 | -22.3% |
| Other amounts payable | 47/48 | €39,519 | €41,889 | +€2,370 | +6.0% |
| Accrued charges and deferred income | 492/3 | €1,795 | €2,805 | +€1,010 | +56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,419 | €9,705 | -€714 | -6.9% |
| Other operating charges | 640/8 | €1,843 | €1,894 | +€50 | +2.7% |
| Gross operating margin | 9900 | €6,468 | €18,523 | +€12,054 | +186% |
| Operating profit (loss) | 9901 | -€5,794 | €6,924 | +€12,718 | |
| Financial income | 75/76B | €14 | €30 | +€16 | +119% |
| Recurring financial income | 75 | €14 | €30 | +€16 | +119% |
| Financial charges | 65/66B | €1,858 | €2,852 | +€994 | +53.5% |
| Recurring financial charges | 65 | €1,858 | €2,852 | +€994 | +53.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,638 | €4,102 | +€11,740 | |
| Transfer from deferred taxes | 780 | €2,352 | €2,352 | = | 0.0% |
| Income taxes | 67/77 | €161 | €1,270 | +€1,110 | +691% |
| Profit (loss) for the period | 9904 | -€5,446 | €5,184 | +€10,630 | |
| Transfer from tax-exempt reserves | 789 | €4,868 | €4,868 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€578 | €10,052 | +€10,630 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.