MonaVisa: 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.
MonaVisa
Largest movements
- Cash -€523,424
down €523,424 (-56.7%), from €923,673 to €400,250
mainly Investment in fixed assets (net) (-€304,776) and Short-term financial debts (-€292,606)
- Current investments +€266,035
new in 2025: €266,035
- Tangible fixed assets +€169,575
up €169,575 (+28.1%), from €604,245 to €773,820
of which Other tangible fixed assets: +€427,918
- Stocks and contracts +€122,280
up €122,280 (+24.6%), from €496,848 to €619,128
of which Contracts in progress: +€116,116
- Receivables within one year +€52,868
up €52,868 (+8.4%), from €625,983 to €678,851
of which Trade receivables: +€75,728
- Short-term financial debts -€292,606
down €292,606 (-99.4%), from €294,234 to €1,628
- Advances received +€211,185
up €211,185 (+66.1%), from €319,440 to €530,624
- Other debts +€195,000
up €195,000, from €0 to €195,000
- Debts after one year -€114,440
down €114,440 (-22.2%), from €515,003 to €400,563
- Trade debts +€100,802
up €100,802 (+61.2%), from €164,751 to €265,553
- Staff costs -€121,526
down €121,526 (-7.2%), from €1.7m to €1.6m
- Gross operating margin +€117,275
up €117,275 (+6.3%), from €1.9m to €2.0m
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 | €2,687,638 | €2,820,005 | +€132,367 | +4.9% |
| Fixed assets | 21/28 | €625,672 | €817,384 | +€191,711 | +30.6% |
| Intangible fixed assets | 21 | €21,415 | €43,551 | +€22,136 | +103.4% |
| Tangible fixed assets | 22/27 | €604,245 | €773,820 | +€169,575 | +28.1% |
| Land and buildings | 22 | €433,251 | €146,024 | -€287,228 | -66.3% |
| Plant, machinery and equipment | 23 | €16,912 | €60,616 | +€43,703 | +258.4% |
| Furniture and vehicles | 24 | €117,061 | €112,091 | -€4,970 | -4.2% |
| Leasing and similar rights | 25 | €30,814 | €20,965 | -€9,848 | -32.0% |
| Other tangible fixed assets | 26 | €6,206 | €434,124 | +€427,918 | +6895.0% |
| Financial fixed assets | 28 | €13 | €13 | = | 0.0% |
| Current assets | 29/58 | €2,061,966 | €2,002,621 | -€59,345 | -2.9% |
| Stocks and contracts in progress | 3 | €496,848 | €619,128 | +€122,280 | +24.6% |
| Stocks | 30/36 | €345,711 | €351,875 | +€6,164 | +1.8% |
| Contracts in progress | 37 | €151,137 | €267,253 | +€116,116 | +76.8% |
| Amounts receivable within one year | 40/41 | €625,983 | €678,851 | +€52,868 | +8.4% |
| Trade receivables | 40 | €544,049 | €619,777 | +€75,728 | +13.9% |
| Other amounts receivable | 41 | €81,934 | €59,074 | -€22,860 | -27.9% |
| Current investments | 50/53 | - | €266,035 | +€266,035 | |
| Cash at bank and in hand | 54/58 | €923,673 | €400,250 | -€523,424 | -56.7% |
| Deferred charges and accrued income | 490/1 | €15,461 | €38,357 | +€22,896 | +148.1% |
| Total equity and liabilities | 10/49 | €2,687,638 | €2,820,005 | +€132,367 | +4.9% |
| Equity | 10/15 | €228,744 | €261,865 | +€33,121 | +14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,225 | €135,225 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,912 | €37,912 | = | 0.0% |
| Distributable reserves | 133 | €97,312 | €97,312 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,919 | €108,040 | +€33,121 | +44.2% |
| Amounts payable | 17/49 | €2,458,894 | €2,558,140 | +€99,246 | +4.0% |
| Amounts payable after more than one year | 17 | €515,003 | €400,563 | -€114,440 | -22.2% |
| Financial debts | 170/4 | €515,003 | €400,563 | -€114,440 | -22.2% |
| Amounts payable within one year | 42/48 | €1,936,051 | €2,135,652 | +€199,601 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €1,025,972 | €1,008,800 | -€17,173 | -1.7% |
| Financial debts | 43 | €294,234 | €1,628 | -€292,606 | -99.4% |
| Credit institutions | 430/8 | €294,234 | €1,628 | -€292,606 | -99.4% |
| Trade debts | 44 | €164,751 | €265,553 | +€100,802 | +61.2% |
| Suppliers | 440/4 | €164,751 | €265,553 | +€100,802 | +61.2% |
| Advances received on contracts in progress | 46 | €319,440 | €530,624 | +€211,185 | +66.1% |
| Taxes, remuneration and social security | 45 | €131,654 | €134,047 | +€2,393 | +1.8% |
| Taxes | 450/3 | €18,176 | €16,659 | -€1,517 | -8.3% |
| Remuneration and social security | 454/9 | €113,478 | €117,388 | +€3,910 | +3.4% |
| Other amounts payable | 47/48 | €0 | €195,000 | +€195,000 | |
| Accrued charges and deferred income | 492/3 | €7,841 | €21,926 | +€14,085 | +179.6% |
| Non-recurring operating income | 76A | €3,306 | €387,052 | +€383,747 | +11608.4% |
| Remuneration, social security and pensions | 62 | €1,688,799 | €1,567,273 | -€121,526 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,241 | €113,065 | -€9,177 | -7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,774 | -€5,048 | +€726 | +12.6% |
| Other operating charges | 640/8 | €20,845 | €17,511 | -€3,334 | -16.0% |
| Non-recurring operating charges | 66A | €1,175 | €11,502 | +€10,327 | +879.3% |
| Gross operating margin | 9900 | €1,852,738 | €1,970,013 | +€117,275 | +6.3% |
| Operating profit (loss) | 9901 | €25,451 | €265,710 | +€240,259 | +944.0% |
| Financial income | 75/76B | €14,816 | €12,886 | -€1,930 | -13.0% |
| Recurring financial income | 75 | €14,816 | €12,886 | -€1,930 | -13.0% |
| Financial charges | 65/66B | €34,679 | €49,572 | +€14,892 | +42.9% |
| Recurring financial charges | 65 | €34,679 | €49,572 | +€14,892 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €5,588 | €229,024 | +€223,436 | +3998.7% |
| Income taxes | 67/77 | €7,738 | €903 | -€6,835 | -88.3% |
| Profit (loss) for the period | 9904 | -€2,150 | €228,121 | +€230,271 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,150 | €228,121 | +€230,271 |
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 11 October 2026 via checked.be.