MICHAEL MONT: 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.
MICHAEL MONT
Largest movements
- Receivables after one year -€12,500
no longer reported in 2025 (was €12,500)
- Receivables within one year -€9,729
down €9,729 (-35.2%), from €27,652 to €17,923
of which Trade receivables: -€8,233
- Cash +€2,686
up €2,686 (+7.6%), from €35,199 to €37,885
mainly Receivables after one year (+€12,500) and Receivables within one year (+€9,729)
- Tangible fixed assets -€2,245
down €2,245 (-37.5%), from €5,994 to €3,749
of which Furniture and vehicles: -€1,532
- Reserves -€22,967
down €22,967 (-40.8%), from €56,345 to €33,378
- Tax, wage and social debts +€2,446
up €2,446 (+69.9%), from €3,498 to €5,943
of which Taxes: +€2,447
- Trade debts -€1,213
down €1,213 (-8.6%), from €14,024 to €12,811
- Accrued charges and deferred income -€858
no longer reported in 2025 (was €858)
- Other debts +€833
new in 2025: €833
- Gross operating margin -€14,096
down €14,096 (-80.3%), from €17,544 to €3,449
- Taxes -€2,815
down €2,815 (-86.4%), from €3,259 to €444
- Financial income -€329
down €329 (-99.7%), from €330 to €1
- Depreciation +€265
up €265 (+13.4%), from €1,979 to €2,245
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 | €82,225 | €60,466 | -€21,760 | -26.5% |
| Fixed assets | 21/28 | €5,994 | €3,749 | -€2,245 | -37.5% |
| Tangible fixed assets | 22/27 | €5,994 | €3,749 | -€2,245 | -37.5% |
| Plant, machinery and equipment | 23 | €2,675 | €1,963 | -€713 | -26.6% |
| Furniture and vehicles | 24 | €3,318 | €1,786 | -€1,532 | -46.2% |
| Current assets | 29/58 | €76,231 | €56,717 | -€19,515 | -25.6% |
| Amounts receivable after more than one year | 29 | €12,500 | - | -€12,500 | |
| Other amounts receivable | 291 | €12,500 | - | -€12,500 | |
| Amounts receivable within one year | 40/41 | €27,652 | €17,923 | -€9,729 | -35.2% |
| Trade receivables | 40 | €18,825 | €10,592 | -€8,233 | -43.7% |
| Other amounts receivable | 41 | €8,827 | €7,331 | -€1,496 | -17.0% |
| Cash at bank and in hand | 54/58 | €35,199 | €37,885 | +€2,686 | +7.6% |
| Deferred charges and accrued income | 490/1 | €881 | €909 | +€28 | +3.2% |
| Total equity and liabilities | 10/49 | €82,225 | €60,466 | -€21,760 | -26.5% |
| Equity | 10/15 | €63,845 | €40,878 | -€22,967 | -36.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €56,345 | €33,378 | -€22,967 | -40.8% |
| Distributable reserves | 133 | €56,345 | €33,378 | -€22,967 | -40.8% |
| Amounts payable | 17/49 | €18,380 | €19,588 | +€1,208 | +6.6% |
| Amounts payable within one year | 42/48 | €17,522 | €19,588 | +€2,066 | +11.8% |
| Trade debts | 44 | €14,024 | €12,811 | -€1,213 | -8.6% |
| Suppliers | 440/4 | €14,024 | €12,811 | -€1,213 | -8.6% |
| Taxes, remuneration and social security | 45 | €3,498 | €5,943 | +€2,446 | +69.9% |
| Taxes | 450/3 | €1,721 | €4,167 | +€2,447 | +142% |
| Remuneration and social security | 454/9 | €1,777 | €1,776 | -€1 | -0.1% |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Accrued charges and deferred income | 492/3 | €858 | - | -€858 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,979 | €2,245 | +€265 | +13.4% |
| Other operating charges | 640/8 | €524 | €548 | +€25 | +4.8% |
| Gross operating margin | 9900 | €17,544 | €3,449 | -€14,096 | -80.3% |
| Operating profit (loss) | 9901 | €15,042 | €656 | -€14,386 | -95.6% |
| Financial income | 75/76B | €330 | €1 | -€329 | -99.7% |
| Recurring financial income | 75 | €330 | €1 | -€329 | -99.7% |
| Financial charges | 65/66B | €188 | €180 | -€7 | -4.0% |
| Recurring financial charges | 65 | €188 | €180 | -€7 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €15,184 | €477 | -€14,708 | -96.9% |
| Income taxes | 67/77 | €3,259 | €444 | -€2,815 | -86.4% |
| Profit (loss) for the period | 9904 | €11,925 | €33 | -€11,893 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,925 | €33 | -€11,893 | -99.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.