MONAFI: 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
MONAFI
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€61,302
2023 · €347,090-€285,788
Equity
€4.4m
2023 · €4.3m+€102,020
Cash
€7,836
2023 · -+€7,836
Balance sheet total
€5.8m
2023 · €7.4m-€1.6m
Largest movements
Assets
- Receivables within one year -€1.2m
down €1.2m (-69.8%), from €1.8m to €532,241
of which Other amounts receivable: -€1.3m
- Tangible fixed assets -€327,930
down €327,930 (-13.9%), from €2.4m to €2.0m
of which Land and buildings: -€285,525
Equity and liabilities
- Debts after one year -€1.2m
down €1.2m (-55.5%), from €2.2m to €977,665
- Trade debts -€286,230
down €286,230 (-67.4%), from €424,512 to €138,282
- Provisions -€277,355
down €277,355 (-60.5%), from €458,508 to €181,153
- Profit (loss) carried forward +€94,675
up €94,675 (+30.5%), from €310,518 to €405,193
- Current portion of long-term debt +€76,281
new in 2024: €76,281
Income statement
- Gross operating margin -€543,392
down €543,392 (-75.7%), from €717,905 to €174,513
- Depreciation -€82,590
down €82,590 (-48.2%), from €171,296 to €88,706
- Financial charges -€45,561
down €45,561 (-68.3%), from €66,663 to €21,102
- Taxes +€30,393
new in 2024: €30,393
- Financial income +€23,279
up €23,279 (+232,785,400%), from €0 to €23,279
From the 2023 result to the 2024 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 2023
€347,090
Gross operating margin
-€543,392
Staff costs
+€175
Depreciation
+€82,590
Other operating charges
+€8,708
Financial income
+€23,279
Financial charges
+€45,561
Taxes
-€30,393
Deferred taxes and other
+€127,684
Result 2024
€61,302
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€876,919
Investment
+€239,224
Financing
-€1.1m
Cash 2023
€0
From operations (derived)
+€876,919
Net result for the year
+€61,302
Depreciation
+€88,706
Receivables within one year
+€1.2m
Deferred charges and accrued income
+€35,352
Provisions
-€277,355
Trade debts
-€286,230
Tax, wage and social debts
+€24,412
Other debts
+€1,648
Investment (derived)
+€239,224
Investment in fixed assets (net)
+€239,224
Financing
-€1.1m
Debts after one year
-€1.2m
Current portion of long-term debt
+€76,281
Short-term financial debts
-€6,666
Contributions, distributions and other
+€40,719
Cash 2024
€7,836
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,421,886 | €5,837,356 | -€1.6m | -21.3% |
| Fixed assets | 21/28 | €5,208,595 | €4,880,665 | -€327,930 | -6.3% |
| Tangible fixed assets | 22/27 | €2,358,595 | €2,030,665 | -€327,930 | -13.9% |
| Land and buildings | 22 | €1,901,219 | €1,615,693 | -€285,525 | -15.0% |
| Plant, machinery and equipment | 23 | €424,430 | €379,125 | -€45,305 | -10.7% |
| Furniture and vehicles | 24 | €32,947 | €35,847 | +€2,900 | +8.8% |
| Financial fixed assets | 28 | €2,850,000 | €2,850,000 | = | 0.0% |
| Current assets | 29/58 | €2,213,291 | €956,691 | -€1.3m | -56.8% |
| Amounts receivable after more than one year | 29 | €410,000 | €410,000 | = | 0.0% |
| Other amounts receivable | 291 | €410,000 | €410,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,761,325 | €532,241 | -€1.2m | -69.8% |
| Trade receivables | 40 | - | €31,610 | +€31,610 | |
| Other amounts receivable | 41 | €1,761,325 | €500,631 | -€1.3m | -71.6% |
| Current investments | 50/53 | €6,230 | €6,230 | = | 0.0% |
| Cash at bank and in hand | 54/58 | - | €7,836 | +€7,836 | |
| Deferred charges and accrued income | 490/1 | €35,736 | €384 | -€35,352 | -98.9% |
| Total equity and liabilities | 10/49 | €7,421,886 | €5,837,356 | -€1.6m | -21.3% |
| Equity | 10/15 | €4,312,624 | €4,414,644 | +€102,020 | +2.4% |
| Contributions | 10/11 | €3,626,000 | €3,633,345 | +€7,345 | +0.2% |
| Reserves | 13 | €376,106 | €376,106 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,929 | €6,929 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,929 | €6,929 | = | 0.0% |
| Tax-exempt reserves | 132 | €369,178 | €369,178 | = | 0.0% |
| Profit (loss) carried forward | 14 | €310,518 | €405,193 | +€94,675 | +30.5% |
| Provisions and deferred taxes | 16 | €458,508 | €181,153 | -€277,355 | -60.5% |
| Deferred taxes | 168 | €458,508 | €181,153 | -€277,355 | -60.5% |
| Amounts payable | 17/49 | €2,650,755 | €1,241,559 | -€1.4m | -53.2% |
| Amounts payable after more than one year | 17 | €2,196,305 | €977,665 | -€1.2m | -55.5% |
| Financial debts | 170/4 | €2,196,305 | €977,665 | -€1.2m | -55.5% |
| Amounts payable within one year | 42/48 | €454,449 | €263,894 | -€190,555 | -41.9% |
| Current portion of amounts payable after more than one year | 42 | - | €76,281 | +€76,281 | |
| Financial debts | 43 | €6,676 | €10 | -€6,666 | -99.8% |
| Credit institutions | 430/8 | €6,676 | €10 | -€6,666 | -99.8% |
| Trade debts | 44 | €424,512 | €138,282 | -€286,230 | -67.4% |
| Suppliers | 440/4 | €424,512 | €138,282 | -€286,230 | -67.4% |
| Taxes, remuneration and social security | 45 | €23,261 | €47,673 | +€24,412 | +105% |
| Taxes | 450/3 | €23,261 | €47,673 | +€24,412 | +105% |
| Other amounts payable | 47/48 | - | €1,648 | +€1,648 | |
| Non-recurring operating income | 76A | €504,870 | - | -€504,870 | |
| Remuneration, social security and pensions | 62 | €175 | - | -€175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,296 | €88,706 | -€82,590 | -48.2% |
| Other operating charges | 640/8 | €11,357 | €2,649 | -€8,708 | -76.7% |
| Gross operating margin | 9900 | €717,905 | €174,513 | -€543,392 | -75.7% |
| Operating profit (loss) | 9901 | €535,076 | €83,158 | -€451,918 | -84.5% |
| Financial income | 75/76B | €0 | €23,279 | +€23,279 | +232,785,400% |
| Recurring financial income | 75 | €0 | €23,279 | +€23,279 | +232,785,400% |
| Financial charges | 65/66B | €66,663 | €21,102 | -€45,561 | -68.3% |
| Recurring financial charges | 65 | €66,663 | €21,102 | -€45,561 | -68.3% |
| Profit (loss) for the period before taxes | 9903 | €468,413 | €85,334 | -€383,079 | -81.8% |
| Transfer from deferred taxes | 780 | €4,894 | €6,361 | +€1,467 | +30.0% |
| Transfer to deferred taxes | 680 | €126,217 | - | -€126,217 | |
| Income taxes | 67/77 | - | €30,393 | +€30,393 | |
| Profit (loss) for the period | 9904 | €347,090 | €61,302 | -€285,788 | -82.3% |
| Transfer from tax-exempt reserves | 789 | €9,475 | - | -€9,475 | |
| Transfer to tax-exempt reserves | 689 | €378,652 | - | -€378,652 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,088 | €61,302 | +€83,390 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.