MONAI: 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.
MONAI
Largest movements
- Stocks and contracts -€110,980
down €110,980 (-24.3%), from €456,528 to €345,548
- Receivables within one year +€101,654
up €101,654 (+60.1%), from €169,055 to €270,709
of which Trade receivables: +€91,808
- Tangible fixed assets -€21,398
down €21,398 (-24.8%), from €86,331 to €64,933
of which Leasing and similar rights: -€13,224
- Cash +€18,744
up €18,744 (+45.7%), from €41,049 to €59,793
mainly Stocks and contracts (+€110,980) and Depreciation (+€36,854)
- Intangible fixed assets -€12,897
down €12,897 (-20.5%), from €63,038 to €50,142
- Reserves -€65,054
down €65,054 (-12.9%), from €504,920 to €439,866
- Short-term financial debts -€25,000
down €25,000 (-33.3%), from €75,000 to €50,000
- Debts after one year +€24,720
up €24,720 (+42.9%), from €57,610 to €82,329
- Current portion of long-term debt +€14,170
up €14,170 (+62.5%), from €22,685 to €36,854
- Other operating charges +€11,509
up €11,509 (+70.1%), from €16,424 to €27,933
- Staff costs +€9,144
up €9,144 (+4.8%), from €189,499 to €198,643
- Financial charges +€7,080
up €7,080 (+26.3%), from €26,919 to €33,999
- Gross operating margin +€2,893
up €2,893 (+1.3%), from €225,106 to €227,999
- Depreciation +€2,789
up €2,789 (+8.2%), from €34,065 to €36,854
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.
Cash bridge derived
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 | €846,218 | €810,064 | -€36,154 | -4.3% |
| Fixed assets | 21/28 | €149,369 | €115,074 | -€34,294 | -23.0% |
| Intangible fixed assets | 21 | €63,038 | €50,142 | -€12,897 | -20.5% |
| Tangible fixed assets | 22/27 | €86,331 | €64,933 | -€21,398 | -24.8% |
| Plant, machinery and equipment | 23 | €24,592 | €20,136 | -€4,456 | -18.1% |
| Furniture and vehicles | 24 | €6,171 | €2,452 | -€3,719 | -60.3% |
| Leasing and similar rights | 25 | €55,568 | €42,344 | -€13,224 | -23.8% |
| Current assets | 29/58 | €696,849 | €694,989 | -€1,860 | -0.3% |
| Stocks and contracts in progress | 3 | €456,528 | €345,548 | -€110,980 | -24.3% |
| Stocks | 30/36 | €456,528 | €345,548 | -€110,980 | -24.3% |
| Amounts receivable within one year | 40/41 | €169,055 | €270,709 | +€101,654 | +60.1% |
| Trade receivables | 40 | €55,290 | €147,098 | +€91,808 | +166.0% |
| Other amounts receivable | 41 | €113,765 | €123,611 | +€9,846 | +8.7% |
| Cash at bank and in hand | 54/58 | €41,049 | €59,793 | +€18,744 | +45.7% |
| Deferred charges and accrued income | 490/1 | €30,216 | €18,939 | -€11,277 | -37.3% |
| Total equity and liabilities | 10/49 | €846,218 | €810,064 | -€36,154 | -4.3% |
| Equity | 10/15 | €523,470 | €458,416 | -€65,054 | -12.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €504,920 | €439,866 | -€65,054 | -12.9% |
| Distributable reserves | 133 | €504,920 | €439,866 | -€65,054 | -12.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €322,748 | €351,647 | +€28,899 | +9.0% |
| Amounts payable after more than one year | 17 | €57,610 | €82,329 | +€24,720 | +42.9% |
| Financial debts | 170/4 | €57,610 | €82,329 | +€24,720 | +42.9% |
| Amounts payable within one year | 42/48 | €265,138 | €269,318 | +€4,180 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €22,685 | €36,854 | +€14,170 | +62.5% |
| Financial debts | 43 | €75,000 | €50,000 | -€25,000 | -33.3% |
| Credit institutions | 430/8 | €75,000 | €50,000 | -€25,000 | -33.3% |
| Trade debts | 44 | €81,619 | €88,359 | +€6,740 | +8.3% |
| Suppliers | 440/4 | €81,619 | €88,359 | +€6,740 | +8.3% |
| Taxes, remuneration and social security | 45 | €85,834 | €94,104 | +€8,270 | +9.6% |
| Taxes | 450/3 | €55,915 | €51,947 | -€3,968 | -7.1% |
| Remuneration and social security | 454/9 | €29,919 | €42,157 | +€12,239 | +40.9% |
| Remuneration, social security and pensions | 62 | €189,499 | €198,643 | +€9,144 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,065 | €36,854 | +€2,789 | +8.2% |
| Other operating charges | 640/8 | €16,424 | €27,933 | +€11,509 | +70.1% |
| Gross operating margin | 9900 | €225,106 | €227,999 | +€2,893 | +1.3% |
| Operating profit (loss) | 9901 | -€14,883 | -€35,431 | -€20,548 | -138.1% |
| Financial income | 75/76B | €6,377 | €4,948 | -€1,430 | -22.4% |
| Recurring financial income | 75 | €6,377 | €4,948 | -€1,430 | -22.4% |
| Financial charges | 65/66B | €26,919 | €33,999 | +€7,080 | +26.3% |
| Recurring financial charges | 65 | €26,919 | €33,999 | +€7,080 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | -€35,425 | -€64,483 | -€29,058 | -82.0% |
| Income taxes | 67/77 | €344 | €571 | +€227 | +66.2% |
| Profit (loss) for the period | 9904 | -€35,768 | -€65,054 | -€29,286 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,768 | -€65,054 | -€29,286 | -81.9% |
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 10 October 2026 via checked.be.