Monath: 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.
Monath
Largest movements
- Cash +€1.5m
up €1.5m (+1268.5%), from €121,881 to €1.7m
mainly Other debts (+€3.8m) and Receivables within one year (+€1.4m)
- Receivables within one year -€1.4m
down €1.4m (-39.3%), from €3.5m to €2.1m
of which Trade receivables: -€1.4m
- Deferred charges and accrued income +€57,048
new in 2025: €57,048
- Other debts +€3.8m
new in 2025: €3.8m
- Debts after one year -€3.5m
no longer reported in 2025 (was €3.5m)
- Profit (loss) carried forward -€106,685
down €106,685 (-21.2%), from -€503,751 to -€610,436
- Trade debts +€74,644
up €74,644 (+20.5%), from €364,146 to €438,791
- Accrued charges and deferred income -€40,483
down €40,483 (-96.0%), from €42,188 to €1,704
- Gross operating margin -€412,203
down €412,203, from €357,097 to -€55,106
- Financial income +€57,048
new in 2025: €57,048
- Financial charges -€5,018
down €5,018 (-4.5%), from €112,526 to €107,509
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 | €3,635,488 | €3,892,617 | +€257,129 | +7.1% |
| Current assets | 29/58 | €3,635,488 | €3,892,617 | +€257,129 | +7.1% |
| Stocks and contracts in progress | 3 | €54,000 | €67,476 | +€13,476 | +25.0% |
| Stocks | 30/36 | €54,000 | €40,500 | -€13,500 | -25.0% |
| Contracts in progress | 37 | - | €26,976 | +€26,976 | |
| Amounts receivable within one year | 40/41 | €3,459,606 | €2,100,098 | -€1.4m | -39.3% |
| Trade receivables | 40 | €3,456,634 | €2,037,877 | -€1.4m | -41.0% |
| Other amounts receivable | 41 | €2,972 | €62,221 | +€59,249 | +1993.5% |
| Cash at bank and in hand | 54/58 | €121,881 | €1,667,994 | +€1.5m | +1268.5% |
| Deferred charges and accrued income | 490/1 | - | €57,048 | +€57,048 | |
| Total equity and liabilities | 10/49 | €3,635,488 | €3,892,617 | +€257,129 | +7.1% |
| Equity | 10/15 | -€239,326 | -€346,012 | -€106,685 | -44.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Uncalled capital | 101 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €202,924 | €202,924 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,300 | €8,300 | = | 0.0% |
| Legal reserve | 130 | €8,300 | €8,300 | = | 0.0% |
| Distributable reserves | 133 | €194,624 | €194,624 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€503,751 | -€610,436 | -€106,685 | -21.2% |
| Amounts payable | 17/49 | €3,874,814 | €4,238,628 | +€363,814 | +9.4% |
| Amounts payable after more than one year | 17 | €3,468,480 | - | -€3.5m | |
| Financial debts | 170/4 | €3,468,480 | - | -€3.5m | |
| Amounts payable within one year | 42/48 | €364,146 | €4,236,924 | +€3.9m | +1063.5% |
| Trade debts | 44 | €364,146 | €438,791 | +€74,644 | +20.5% |
| Suppliers | 440/4 | €364,146 | €438,791 | +€74,644 | +20.5% |
| Other amounts payable | 47/48 | - | €3,798,133 | +€3.8m | |
| Accrued charges and deferred income | 492/3 | €42,188 | €1,704 | -€40,483 | -96.0% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | €357,097 | -€55,106 | -€412,203 | |
| Operating profit (loss) | 9901 | €356,012 | -€56,224 | -€412,236 | |
| Financial income | 75/76B | - | €57,048 | +€57,048 | |
| Recurring financial income | 75 | - | €57,048 | +€57,048 | |
| Financial charges | 65/66B | €112,526 | €107,509 | -€5,018 | -4.5% |
| Recurring financial charges | 65 | €112,526 | €107,509 | -€5,018 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €243,485 | -€106,685 | -€350,170 | |
| Profit (loss) for the period | 9904 | €243,485 | -€106,685 | -€350,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €243,485 | -€106,685 | -€350,170 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.