MONARCHI: what changed
Two fiscal 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.
MONARCHI
Largest movements
- Tangible fixed assets -€112,580
down €112,580 (-100.0%), from €112,580 to €0
of which Land and buildings: -€102,535
- Receivables within one year -€63,821
down €63,821 (-73.5%), from €86,875 to €23,054
of which Trade receivables: -€59,807
- Stocks and contracts -€11,798
down €11,798 (-100.0%), from €11,798 to €0
of which Stocks: -€11,798
- Debts after one year -€94,859
down €94,859 (-100.0%), from €94,859 to €0
- Tax, wage and social debts -€63,744
down €63,744 (-97.5%), from €65,351 to €1,607
of which Taxes: -€40,126
- Profit (loss) carried forward +€37,886
up €37,886 (+49.6%), from -€76,445 to -€38,559
- Advances received -€25,160
down €25,160 (-100.0%), from €25,160 to €0
- Trade debts -€24,812
down €24,812 (-36.7%), from €67,515 to €42,703
- Staff costs -€88,580
down €88,580 (-87.6%), from €101,088 to €12,508
- Write-downs +€20,103
up €20,103, from -€1,730 to €18,373
- Depreciation -€8,385
down €8,385 (-89.9%), from €9,332 to €947
- Gross operating margin +€5,351
up €5,351 (+7.4%), from €72,020 to €77,371
- Other operating charges -€2,801
down €2,801 (-71.5%), from €3,920 to €1,118
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €215,671 | €24,436 | -€191,235 | -88.7% |
| Fixed assets | 21/28 | €114,354 | €327 | -€114,026 | -99.7% |
| Intangible fixed assets | 21 | €1,274 | €327 | -€947 | -74.3% |
| Tangible fixed assets | 22/27 | €112,580 | €0 | -€112,580 | -100.0% |
| Land and buildings | 22 | €102,535 | €0 | -€102,535 | -100.0% |
| Plant, machinery and equipment | 23 | €10,045 | €0 | -€10,045 | -100.0% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €500 | €0 | -€500 | -100.0% |
| Current assets | 29/58 | €101,318 | €24,109 | -€77,209 | -76.2% |
| Stocks and contracts in progress | 3 | €11,798 | €0 | -€11,798 | -100.0% |
| Stocks | 30/36 | €11,798 | €0 | -€11,798 | -100.0% |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €86,875 | €23,054 | -€63,821 | -73.5% |
| Trade receivables | 40 | €81,091 | €21,285 | -€59,807 | -73.8% |
| Other amounts receivable | 41 | €5,783 | €1,769 | -€4,014 | -69.4% |
| Cash at bank and in hand | 54/58 | €272 | - | -€272 | |
| Deferred charges and accrued income | 490/1 | €2,373 | €1,055 | -€1,318 | -55.5% |
| Total equity and liabilities | 10/49 | €215,671 | €24,436 | -€191,235 | -88.7% |
| Equity | 10/15 | -€57,845 | -€19,959 | +€37,886 | +65.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,445 | -€38,559 | +€37,886 | +49.6% |
| Amounts payable | 17/49 | €273,516 | €44,395 | -€229,122 | -83.8% |
| Amounts payable after more than one year | 17 | €94,859 | €0 | -€94,859 | -100.0% |
| Financial debts | 170/4 | €94,859 | €0 | -€94,859 | -100.0% |
| Amounts payable within one year | 42/48 | €177,907 | €44,395 | -€133,512 | -75.0% |
| Current portion of amounts payable after more than one year | 42 | €14,752 | €0 | -€14,752 | -100.0% |
| Financial debts | 43 | €5,129 | €84 | -€5,045 | -98.4% |
| Credit institutions | 430/8 | €5,129 | €84 | -€5,045 | -98.4% |
| Trade debts | 44 | €67,515 | €42,703 | -€24,812 | -36.7% |
| Suppliers | 440/4 | €67,515 | €42,703 | -€24,812 | -36.7% |
| Advances received on contracts in progress | 46 | €25,160 | €0 | -€25,160 | -100.0% |
| Taxes, remuneration and social security | 45 | €65,351 | €1,607 | -€63,744 | -97.5% |
| Taxes | 450/3 | €40,126 | - | -€40,126 | |
| Remuneration and social security | 454/9 | €25,225 | €1,607 | -€23,618 | -93.6% |
| Accrued charges and deferred income | 492/3 | €750 | - | -€750 | |
| Remuneration, social security and pensions | 62 | €101,088 | €12,508 | -€88,580 | -87.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,332 | €947 | -€8,385 | -89.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,730 | €18,373 | +€20,103 | |
| Other operating charges | 640/8 | €3,920 | €1,118 | -€2,801 | -71.5% |
| Gross operating margin | 9900 | €72,020 | €77,371 | +€5,351 | +7.4% |
| Operating profit (loss) | 9901 | -€40,589 | €44,425 | +€85,014 | |
| Financial income | 75/76B | €574 | €11 | -€563 | -98.1% |
| Recurring financial income | 75 | €574 | €11 | -€563 | -98.1% |
| Financial charges | 65/66B | €4,331 | €4,521 | +€190 | +4.4% |
| Recurring financial charges | 65 | €4,331 | €816 | -€3,514 | -81.2% |
| Non-recurring financial charges | 66B | - | €3,705 | +€3,705 | |
| Profit (loss) for the period before taxes | 9903 | -€44,345 | €39,915 | +€84,260 | |
| Income taxes | 67/77 | €299 | €2,029 | +€1,730 | +578.4% |
| Profit (loss) for the period | 9904 | -€44,644 | €37,886 | +€82,531 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,644 | €37,886 | +€82,531 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.