HOTEL MONTANUS: what changed
What changed
HOTEL MONTANUS
NACE 55.100, Hotels and similar accommodation
filed annual accounts (NBB)
Net result for the year
€9,644
2024 · €28,514-€18,870
Equity
€3.1m
2024 · €430,530+€2.6m
Cash
€90,334
2024 · €59,182+€31,153
Balance sheet total
€5.9m
2024 · €2.3m+€3.6m
Largest movements
Assets
- Tangible fixed assets +€3.8m
up €3.8m (+203%), from €1.9m to €5.6m
of which Land and buildings: +€3.5m
- Receivables within one year -€314,009
down €314,009 (-98.6%), from €318,479 to €4,470
of which Trade receivables: -€314,009
- Intangible fixed assets +€94,959
new in 2025: €94,959
Equity and liabilities
- Contributions +€2.6m
up €2.6m (+10,560%), from €25,000 to €2.7m
- Debts after one year +€810,244
up €810,244 (+57.0%), from €1.4m to €2.2m
of which Financial debts: +€810,244
- Current portion of long-term debt +€170,189
up €170,189 (+66.4%), from €256,237 to €426,426
Income statement
- Gross operating margin +€204,854
up €204,854 (+34.1%), from €599,919 to €804,773
- Staff costs +€152,953
up €152,953 (+77.4%), from €197,667 to €350,620
- Depreciation +€31,520
up €31,520 (+12.7%), from €247,396 to €278,916
- Financial income -€21,690
down €21,690 (-99.9%), from €21,701 to €11
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
€28,514
Gross operating margin
+€204,854
Staff costs
-€152,953
Depreciation
-€31,520
Other operating charges
+€4,928
Other operating items
-€17,928
Financial income
-€21,690
Financial charges
-€4,729
Taxes
+€168
Result 2025
€9,644
raises the resultlowers the resultnot broken down further in the accounts
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
+€564,650
Investment
-€4.2m
Financing
+€3.6m
Cash 2024
€59,182
From operations (derived)
+€564,650
Net result for the year
+€9,644
Depreciation
+€278,916
Stocks and contracts
-€36,000
Receivables within one year
+€314,009
Smaller working-capital items
+€2,977
Trade debts
-€25,126
Tax, wage and social debts
+€20,230
Investment (derived)
-€4.2m
Investment in fixed assets (net)
-€4.2m
Financing
+€3.6m
Debts after one year
+€810,244
Current portion of long-term debt
+€170,189
Contributions, distributions and other
+€2.6m
Cash 2025
€90,334
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,260,918 | €5,891,209 | +€3.6m | +161% |
| Fixed assets | 21/28 | €1,861,108 | €5,736,000 | +€3.9m | +208% |
| Intangible fixed assets | 21 | - | €94,959 | +€94,959 | |
| Tangible fixed assets | 22/27 | €1,860,908 | €5,640,841 | +€3.8m | +203% |
| Land and buildings | 22 | €1,144,124 | €4,674,018 | +€3.5m | +309% |
| Plant, machinery and equipment | 23 | €675,307 | €831,360 | +€156,053 | +23.1% |
| Furniture and vehicles | 24 | €13,118 | €35,906 | +€22,788 | +174% |
| Leasing and similar rights | 25 | €28,359 | €99,558 | +€71,198 | +251% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €399,810 | €155,209 | -€244,601 | -61.2% |
| Stocks and contracts in progress | 3 | €17,150 | €53,150 | +€36,000 | +210% |
| Stocks | 30/36 | €17,150 | €53,150 | +€36,000 | +210% |
| Amounts receivable within one year | 40/41 | €318,479 | €4,470 | -€314,009 | -98.6% |
| Trade receivables | 40 | €316,849 | €2,841 | -€314,009 | -99.1% |
| Other amounts receivable | 41 | €1,629 | €1,629 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €59,182 | €90,334 | +€31,153 | +52.6% |
| Deferred charges and accrued income | 490/1 | €5,000 | €7,255 | +€2,255 | +45.1% |
| Total equity and liabilities | 10/49 | €2,260,918 | €5,891,209 | +€3.6m | +161% |
| Equity | 10/15 | €430,530 | €3,080,052 | +€2.6m | +615% |
| Contributions | 10/11 | €25,000 | €2,664,878 | +€2.6m | +10,560% |
| Reserves | 13 | €405,500 | €414,500 | +€9,000 | +2.2% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €403,000 | €412,000 | +€9,000 | +2.2% |
| Profit (loss) carried forward | 14 | €30 | €674 | +€644 | +2,169% |
| Amounts payable | 17/49 | €1,830,389 | €2,811,157 | +€980,768 | +53.6% |
| Amounts payable after more than one year | 17 | €1,422,497 | €2,232,741 | +€810,244 | +57.0% |
| Financial debts | 170/4 | €1,347,497 | €2,157,741 | +€810,244 | +60.1% |
| Other amounts payable | 178/9 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €407,891 | €578,416 | +€170,525 | +41.8% |
| Current portion of amounts payable after more than one year | 42 | €256,237 | €426,426 | +€170,189 | +66.4% |
| Trade debts | 44 | €87,550 | €62,424 | -€25,126 | -28.7% |
| Suppliers | 440/4 | €87,550 | €62,424 | -€25,126 | -28.7% |
| Advances received on contracts in progress | 46 | €3,760 | €0 | -€3,760 | -100% |
| Taxes, remuneration and social security | 45 | €52,729 | €72,959 | +€20,230 | +38.4% |
| Taxes | 450/3 | €23,655 | €28,308 | +€4,653 | +19.7% |
| Remuneration and social security | 454/9 | €29,074 | €44,651 | +€15,577 | +53.6% |
| Other amounts payable | 47/48 | €7,615 | €16,607 | +€8,992 | +118% |
| Remuneration, social security and pensions | 62 | €197,667 | €350,620 | +€152,953 | +77.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €247,396 | €278,916 | +€31,520 | +12.7% |
| Other operating charges | 640/8 | €45,417 | €40,488 | -€4,928 | -10.9% |
| Non-recurring operating charges | 66A | - | €17,928 | +€17,928 | |
| Gross operating margin | 9900 | €599,919 | €804,773 | +€204,854 | +34.1% |
| Operating profit (loss) | 9901 | €109,439 | €116,820 | +€7,381 | +6.7% |
| Financial income | 75/76B | €21,701 | €11 | -€21,690 | -99.9% |
| Recurring financial income | 75 | €21,701 | €11 | -€21,690 | -99.9% |
| Financial charges | 65/66B | €102,029 | €106,758 | +€4,729 | +4.6% |
| Recurring financial charges | 65 | €102,029 | €106,758 | +€4,729 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €29,111 | €10,073 | -€19,038 | -65.4% |
| Income taxes | 67/77 | €597 | €429 | -€168 | -28.1% |
| Profit (loss) for the period | 9904 | €28,514 | €9,644 | -€18,870 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,514 | €9,644 | -€18,870 | -66.2% |
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 4 November 2026 via checked.be.