MONART - BTS: 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.
MONART - BTS
Largest movements
- Cash +€35,845
up €35,845 (+2,281%), from €1,571 to €37,416
mainly Net result for the year (+€63,105) and Trade debts (+€15,775)
- Stocks and contracts +€34,852
up €34,852 (+154%), from €22,677 to €57,529
- Receivables within one year +€16,488
up €16,488 (+431%), from €3,828 to €20,316
of which Trade receivables: +€15,678
- Tangible fixed assets +€3,147
up €3,147 (+270%), from €1,166 to €4,312
- Deferred charges and accrued income +€2,127
up €2,127 (+8,506%), from €25 to €2,152
- Profit (loss) carried forward +€63,105
up €63,105, from -€12,581 to €50,525
- Trade debts +€15,775
up €15,775 (+933%), from €1,691 to €17,465
- Tax, wage and social debts +€13,051
up €13,051 (+9,563%), from €136 to €13,188
- Advances received -€4,457
down €4,457 (-100%), from €4,457 to €0
- Other debts +€4,279
up €4,279 (+41.7%), from €10,253 to €14,532
- Gross operating margin +€90,021
up €90,021, from -€11,290 to €78,732
- Taxes +€13,188
new in 2025: €13,188
- Depreciation +€808
up €808 (+389%), from €208 to €1,016
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 | €29,268 | €121,725 | +€92,458 | +316% |
| Fixed assets | 21/28 | €1,166 | €4,312 | +€3,147 | +270% |
| Tangible fixed assets | 22/27 | €1,166 | €4,312 | +€3,147 | +270% |
| Plant, machinery and equipment | 23 | €1,166 | €4,312 | +€3,147 | +270% |
| Current assets | 29/58 | €28,102 | €117,413 | +€89,311 | +318% |
| Stocks and contracts in progress | 3 | €22,677 | €57,529 | +€34,852 | +154% |
| Stocks | 30/36 | €22,677 | €57,529 | +€34,852 | +154% |
| Amounts receivable within one year | 40/41 | €3,828 | €20,316 | +€16,488 | +431% |
| Trade receivables | 40 | €3,828 | €19,506 | +€15,678 | +410% |
| Other amounts receivable | 41 | - | €810 | +€810 | |
| Cash at bank and in hand | 54/58 | €1,571 | €37,416 | +€35,845 | +2,281% |
| Deferred charges and accrued income | 490/1 | €25 | €2,152 | +€2,127 | +8,506% |
| Total equity and liabilities | 10/49 | €29,268 | €121,725 | +€92,458 | +316% |
| Equity | 10/15 | €12,419 | €75,525 | +€63,105 | +508% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,581 | €50,525 | +€63,105 | |
| Amounts payable | 17/49 | €16,849 | €46,201 | +€29,352 | +174% |
| Amounts payable within one year | 42/48 | €16,537 | €45,185 | +€28,647 | +173% |
| Trade debts | 44 | €1,691 | €17,465 | +€15,775 | +933% |
| Suppliers | 440/4 | €1,691 | €17,465 | +€15,775 | +933% |
| Advances received on contracts in progress | 46 | €4,457 | €0 | -€4,457 | -100% |
| Taxes, remuneration and social security | 45 | €136 | €13,188 | +€13,051 | +9,563% |
| Taxes | 450/3 | €136 | €13,188 | +€13,051 | +9,563% |
| Other amounts payable | 47/48 | €10,253 | €14,532 | +€4,279 | +41.7% |
| Accrued charges and deferred income | 492/3 | €311 | €1,016 | +€705 | +227% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208 | €1,016 | +€808 | +389% |
| Other operating charges | 640/8 | €427 | €213 | -€214 | -50.1% |
| Gross operating margin | 9900 | -€11,290 | €78,732 | +€90,021 | |
| Operating profit (loss) | 9901 | -€11,925 | €77,503 | +€89,427 | |
| Financial income | 75/76B | €210 | €0 | -€210 | -99.9% |
| Recurring financial income | 75 | €210 | €0 | -€210 | -99.9% |
| Financial charges | 65/66B | €866 | €1,210 | +€344 | +39.7% |
| Recurring financial charges | 65 | €866 | €1,210 | +€344 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,581 | €76,293 | +€88,874 | |
| Income taxes | 67/77 | - | €13,188 | +€13,188 | |
| Profit (loss) for the period | 9904 | -€12,581 | €63,105 | +€75,686 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,581 | €63,105 | +€75,686 |
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 19 October 2026 via checked.be.