MONA LISA: 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.
What changed
MONA LISA
NACE 32.500, Manufacture of medical and dental instruments and supplies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€83,430
2024 · -€591,361+€507,932
Equity
€2.0m
2024 · €2.1m-€83,430
Cash
€825,883
2024 · €1.4m-€609,709
Balance sheet total
€2.6m
2024 · €3.4m-€821,244
Largest movements
Assets
- Cash -€609,709
down €609,709 (-42.5%), from €1.4m to €825,883
mainly Trade debts (-€726,430) and Net result for the year (-€83,430)
- Receivables within one year -€160,807
down €160,807 (-24.5%), from €657,504 to €496,696
of which Trade receivables: -€91,787
Equity and liabilities
- Trade debts -€726,430
down €726,430 (-66.0%), from €1.1m to €374,418
- Profit (loss) carried forward -€83,430
down €83,430 (-4.1%), from €2.0m to €1.9m
Income statement
- Purchases and services +€3.5m
new in 2025: €3.5m
- Turnover +€1.1m
up €1.1m (+36.2%), from €3.1m to €4.2m
- Gross operating margin +€573,831
up €573,831 (+639%), from €89,734 to €663,565
- Staff costs +€166,682
up €166,682 (+28.8%), from €577,864 to €744,547
- Write-downs -€57,496
down €57,496, from €17,204 to -€40,292
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.
Result 2024
-€591,361
Gross operating margin
+€573,831
Staff costs
-€166,682
Depreciation
+€12,994
Write-downs
+€57,496
Other operating charges
-€72
Financial income
+€813
Financial charges
+€20,820
Taxes
+€8,730
Result 2025
-€83,430
raises the resultlowers the result
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.
From operations
-€607,979
Investment
-€1,730
Financing
€0
Cash 2024
€1.4m
From operations (derived)
-€607,979
Net result for the year
-€83,430
Depreciation
+€33,653
Stocks and contracts
+€16,529
Receivables within one year
+€160,807
Deferred charges and accrued income
+€2,275
Trade debts
-€726,430
Tax, wage and social debts
-€11,384
Investment (derived)
-€1,730
Investment in fixed assets (net)
-€1,730
Cash 2025
€825,883
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,376,311 | €2,555,067 | -€821,244 | -24.3% |
| Fixed assets | 21/28 | €650,142 | €618,219 | -€31,923 | -4.9% |
| Tangible fixed assets | 22/27 | €650,142 | €618,219 | -€31,923 | -4.9% |
| Land and buildings | 22 | €628,093 | €603,038 | -€25,055 | -4.0% |
| Plant, machinery and equipment | 23 | €7,127 | €3,031 | -€4,096 | -57.5% |
| Furniture and vehicles | 24 | €14,923 | €12,150 | -€2,773 | -18.6% |
| Current assets | 29/58 | €2,726,169 | €1,936,848 | -€789,321 | -29.0% |
| Stocks and contracts in progress | 3 | €625,680 | €609,151 | -€16,529 | -2.6% |
| Stocks | 30/36 | €625,680 | €609,151 | -€16,529 | -2.6% |
| Amounts receivable within one year | 40/41 | €657,504 | €496,696 | -€160,807 | -24.5% |
| Trade receivables | 40 | €541,569 | €449,782 | -€91,787 | -16.9% |
| Other amounts receivable | 41 | €115,934 | €46,914 | -€69,021 | -59.5% |
| Cash at bank and in hand | 54/58 | €1,435,592 | €825,883 | -€609,709 | -42.5% |
| Deferred charges and accrued income | 490/1 | €7,394 | €5,118 | -€2,275 | -30.8% |
| Total equity and liabilities | 10/49 | €3,376,311 | €2,555,067 | -€821,244 | -24.3% |
| Equity | 10/15 | €2,100,842 | €2,017,412 | -€83,430 | -4.0% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €7,000 | €7,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,023,842 | €1,940,412 | -€83,430 | -4.1% |
| Amounts payable | 17/49 | €1,275,469 | €537,655 | -€737,814 | -57.8% |
| Amounts payable within one year | 42/48 | €1,260,469 | €522,655 | -€737,814 | -58.5% |
| Trade debts | 44 | €1,100,848 | €374,418 | -€726,430 | -66.0% |
| Suppliers | 440/4 | €1,100,848 | €374,418 | -€726,430 | -66.0% |
| Advances received on contracts in progress | 46 | €22,248 | €22,248 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €136,295 | €124,911 | -€11,384 | -8.4% |
| Taxes | 450/3 | €50,496 | €36,791 | -€13,705 | -27.1% |
| Remuneration and social security | 454/9 | €85,798 | €88,120 | +€2,321 | +2.7% |
| Other amounts payable | 47/48 | €1,078 | €1,078 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €15,000 | €15,000 | = | 0.0% |
| Turnover | 70 | €3,074,288 | €4,187,685 | +€1.1m | +36.2% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €3,505,346 | +€3.5m | |
| Remuneration, social security and pensions | 62 | €577,864 | €744,547 | +€166,682 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,647 | €33,653 | -€12,994 | -27.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,204 | -€40,292 | -€57,496 | |
| Other operating charges | 640/8 | €9,160 | €9,231 | +€72 | +0.8% |
| Gross operating margin | 9900 | €89,734 | €663,565 | +€573,831 | +639% |
| Operating profit (loss) | 9901 | -€561,142 | -€83,574 | +€477,567 | +85.1% |
| Financial income | 75/76B | €1,009 | €1,823 | +€813 | +80.6% |
| Recurring financial income | 75 | €1,009 | €1,823 | +€813 | +80.6% |
| Financial charges | 65/66B | €21,596 | €775 | -€20,820 | -96.4% |
| Recurring financial charges | 65 | €21,596 | €775 | -€20,820 | -96.4% |
| Profit (loss) for the period before taxes | 9903 | -€581,728 | -€82,527 | +€499,201 | +85.8% |
| Income taxes | 67/77 | €9,634 | €903 | -€8,730 | -90.6% |
| Profit (loss) for the period | 9904 | -€591,361 | -€83,430 | +€507,932 | +85.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€591,361 | -€83,430 | +€507,932 | +85.9% |
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 26 October 2026 via checked.be.