MNTN-VDR: 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.
MNTN-VDR
Largest movements
- Tangible fixed assets +€8,944
up €8,944 (+5.0%), from €177,668 to €186,612
of which Land and buildings: +€6,679
- Intangible fixed assets -€6,000
down €6,000 (-11.1%), from €54,263 to €48,263
- Receivables within one year -€3,611
down €3,611 (-56.7%), from €6,363 to €2,752
of which Trade receivables: -€3,647
- Profit (loss) carried forward +€34,093
up €34,093 (+15.1%), from -€225,633 to -€191,540
- Other debts -€20,845
down €20,845 (-10.9%), from €191,915 to €171,069
- Trade debts -€10,221
down €10,221 (-79.7%), from €12,817 to €2,596
- Tax, wage and social debts -€4,243
down €4,243 (-61.7%), from €6,876 to €2,633
of which Remuneration and social security: -€6,700
- Gross operating margin +€20,079
up €20,079 (+44.7%), from €44,933 to €65,012
- Depreciation +€8,480
up €8,480 (+105%), from €8,104 to €16,584
- Financial charges +€3,128
up €3,128 (+38.3%), from €8,162 to €11,290
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,338 | €241,084 | +€1,746 | +0.7% |
| Fixed assets | 21/28 | €232,341 | €235,285 | +€2,944 | +1.3% |
| Intangible fixed assets | 21 | €54,263 | €48,263 | -€6,000 | -11.1% |
| Tangible fixed assets | 22/27 | €177,668 | €186,612 | +€8,944 | +5.0% |
| Land and buildings | 22 | €168,969 | €175,648 | +€6,679 | +4.0% |
| Plant, machinery and equipment | 23 | €8,699 | €9,028 | +€329 | +3.8% |
| Furniture and vehicles | 24 | - | €1,936 | +€1,936 | |
| Financial fixed assets | 28 | €410 | €410 | = | 0.0% |
| Current assets | 29/58 | €6,997 | €5,799 | -€1,198 | -17.1% |
| Amounts receivable within one year | 40/41 | €6,363 | €2,752 | -€3,611 | -56.7% |
| Trade receivables | 40 | €6,133 | €2,485 | -€3,647 | -59.5% |
| Other amounts receivable | 41 | €230 | €267 | +€37 | +15.9% |
| Cash at bank and in hand | 54/58 | €500 | €2,801 | +€2,300 | +460% |
| Deferred charges and accrued income | 490/1 | €133 | €246 | +€112 | +84.5% |
| Total equity and liabilities | 10/49 | €239,338 | €241,084 | +€1,746 | +0.7% |
| Equity | 10/15 | -€195,849 | -€161,756 | +€34,093 | +17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,184 | €11,184 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,324 | €9,324 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€225,633 | -€191,540 | +€34,093 | +15.1% |
| Amounts payable | 17/49 | €435,187 | €402,840 | -€32,347 | -7.4% |
| Amounts payable after more than one year | 17 | €206,788 | €208,227 | +€1,439 | +0.7% |
| Financial debts | 170/4 | €206,788 | €208,227 | +€1,439 | +0.7% |
| Amounts payable within one year | 42/48 | €228,399 | €194,613 | -€33,786 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €16,792 | €18,315 | +€1,523 | +9.1% |
| Trade debts | 44 | €12,817 | €2,596 | -€10,221 | -79.7% |
| Suppliers | 440/4 | €12,817 | €2,596 | -€10,221 | -79.7% |
| Taxes, remuneration and social security | 45 | €6,876 | €2,633 | -€4,243 | -61.7% |
| Taxes | 450/3 | €176 | €2,633 | +€2,457 | +1,396% |
| Remuneration and social security | 454/9 | €6,700 | - | -€6,700 | |
| Other amounts payable | 47/48 | €191,915 | €171,069 | -€20,845 | -10.9% |
| Non-recurring operating income | 76A | €27,154 | €413 | -€26,741 | -98.5% |
| Remuneration, social security and pensions | 62 | €2,353 | €1,908 | -€445 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,104 | €16,584 | +€8,480 | +105% |
| Other operating charges | 640/8 | €1,028 | €959 | -€69 | -6.7% |
| Gross operating margin | 9900 | €44,933 | €65,012 | +€20,079 | +44.7% |
| Operating profit (loss) | 9901 | €33,448 | €45,561 | +€12,113 | +36.2% |
| Financial income | 75/76B | €85 | €1 | -€84 | -98.7% |
| Recurring financial income | 75 | €85 | €1 | -€84 | -98.7% |
| Financial charges | 65/66B | €8,162 | €11,290 | +€3,128 | +38.3% |
| Recurring financial charges | 65 | €8,162 | €11,290 | +€3,128 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €25,371 | €34,272 | +€8,901 | +35.1% |
| Income taxes | 67/77 | €155 | €178 | +€23 | +14.7% |
| Profit (loss) for the period | 9904 | €25,215 | €34,093 | +€8,878 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,215 | €34,093 | +€8,878 | +35.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.