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.
MONA LISA
Largest movements
- Receivables within one year -€35,436
down €35,436 (-39.6%), from €89,524 to €54,088
of which Trade receivables: -€44,918
- Cash -€10,029
down €10,029 (-51.9%), from €19,310 to €9,282
mainly Trade debts (-€37,970) and Net result for the year (-€5,055)
- Trade debts -€37,970
down €37,970 (-68.1%), from €55,744 to €17,774
- Profit (loss) carried forward -€5,055
new in 2025: -€5,055
- Debts after one year -€2,393
down €2,393 (-31.5%), from €7,587 to €5,194
- Gross operating margin -€42,764
down €42,764 (-27.4%), from €155,964 to €113,200
- Taxes -€12,556
down €12,556 (-94.0%), from €13,356 to €800
- Staff costs +€7,643
up €7,643 (+7.3%), from €105,289 to €112,932
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 | €131,848 | €85,942 | -€45,906 | -34.8% |
| Fixed assets | 21/28 | €5,888 | €7,066 | +€1,177 | +20.0% |
| Tangible fixed assets | 22/27 | €5,888 | €7,066 | +€1,177 | +20.0% |
| Land and buildings | 22 | €1,920 | €1,710 | -€210 | -10.9% |
| Plant, machinery and equipment | 23 | €3,969 | €3,758 | -€211 | -5.3% |
| Furniture and vehicles | 24 | - | €1,598 | +€1,598 | |
| Current assets | 29/58 | €125,960 | €78,876 | -€47,084 | -37.4% |
| Stocks and contracts in progress | 3 | €16,013 | €15,452 | -€561 | -3.5% |
| Stocks | 30/36 | €16,013 | €15,452 | -€561 | -3.5% |
| Amounts receivable within one year | 40/41 | €89,524 | €54,088 | -€35,436 | -39.6% |
| Trade receivables | 40 | €52,258 | €7,340 | -€44,918 | -86.0% |
| Other amounts receivable | 41 | €37,265 | €46,748 | +€9,483 | +25.4% |
| Cash at bank and in hand | 54/58 | €19,310 | €9,282 | -€10,029 | -51.9% |
| Deferred charges and accrued income | 490/1 | €1,113 | €54 | -€1,059 | -95.1% |
| Total equity and liabilities | 10/49 | €131,848 | €85,942 | -€45,906 | -34.8% |
| Equity | 10/15 | €37,049 | €31,994 | -€5,055 | -13.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €31,049 | €31,049 | = | 0.0% |
| Distributable reserves | 133 | €31,049 | €31,049 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,055 | -€5,055 | |
| Amounts payable | 17/49 | €94,800 | €53,948 | -€40,852 | -43.1% |
| Amounts payable after more than one year | 17 | €7,587 | €5,194 | -€2,393 | -31.5% |
| Financial debts | 170/4 | €7,587 | €5,194 | -€2,393 | -31.5% |
| Amounts payable within one year | 42/48 | €87,213 | €48,754 | -€38,459 | -44.1% |
| Current portion of amounts payable after more than one year | 42 | €2,266 | €2,393 | +€127 | +5.6% |
| Trade debts | 44 | €55,744 | €17,774 | -€37,970 | -68.1% |
| Suppliers | 440/4 | €55,744 | €17,774 | -€37,970 | -68.1% |
| Taxes, remuneration and social security | 45 | €29,202 | €28,587 | -€616 | -2.1% |
| Taxes | 450/3 | €15,241 | €12,535 | -€2,706 | -17.8% |
| Remuneration and social security | 454/9 | €13,962 | €16,052 | +€2,090 | +15.0% |
| Remuneration, social security and pensions | 62 | €105,289 | €112,932 | +€7,643 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,077 | €2,721 | +€644 | +31.0% |
| Other operating charges | 640/8 | €2,604 | €1,119 | -€1,485 | -57.0% |
| Gross operating margin | 9900 | €155,964 | €113,200 | -€42,764 | -27.4% |
| Operating profit (loss) | 9901 | €45,995 | -€3,571 | -€49,566 | |
| Financial income | 75/76B | €1,465 | €2,121 | +€656 | +44.8% |
| Recurring financial income | 75 | €1,465 | €2,121 | +€656 | +44.8% |
| Financial charges | 65/66B | €3,055 | €2,805 | -€251 | -8.2% |
| Recurring financial charges | 65 | €3,055 | €2,805 | -€251 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €44,404 | -€4,255 | -€48,659 | |
| Income taxes | 67/77 | €13,356 | €800 | -€12,556 | -94.0% |
| Profit (loss) for the period | 9904 | €31,049 | -€5,055 | -€36,103 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,049 | -€5,055 | -€36,103 |
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 24 October 2026 via checked.be.