MONBAR: 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.
MONBAR
Largest movements
- Receivables within one year +€69,266
up €69,266 (+58.0%), from €119,407 to €188,673
of which Trade receivables: +€45,330
- Tangible fixed assets -€4,219
down €4,219 (-8.7%), from €48,463 to €44,244
of which Plant, machinery and equipment: -€18,557
- Advances received +€49,849
up €49,849 (+39.2%), from €127,068 to €176,917
- Current portion of long-term debt +€4,672
up €4,672 (+167.3%), from €2,792 to €7,464
- Tax, wage and social debts +€4,549
up €4,549 (+49.5%), from €9,189 to €13,738
of which Remuneration and social security: +€3,000
- Debts after one year +€4,546
new in 2025: €4,546
- Trade debts +€2,951
up €2,951 (+24.9%), from €11,873 to €14,825
- Other operating charges +€24,215
up €24,215 (+938.8%), from €2,579 to €26,794
- Gross operating margin -€12,406
down €12,406 (-17.2%), from €72,272 to €59,867
- Depreciation +€8,959
up €8,959 (+44.9%), from €19,943 to €28,902
- Financial income +€1,655
up €1,655 (+2680.6%), from €62 to €1,717
- Financial charges +€1,348
up €1,348 (+194.5%), from €693 to €2,041
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 | €198,863 | €265,751 | +€66,888 | +33.6% |
| Fixed assets | 21/28 | €48,464 | €44,245 | -€4,219 | -8.7% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €48,463 | €44,244 | -€4,219 | -8.7% |
| Plant, machinery and equipment | 23 | €35,141 | €16,584 | -€18,557 | -52.8% |
| Furniture and vehicles | 24 | €13,322 | €27,660 | +€14,338 | +107.6% |
| Current assets | 29/58 | €150,399 | €221,507 | +€71,108 | +47.3% |
| Stocks and contracts in progress | 3 | €20,204 | €20,801 | +€597 | +3.0% |
| Stocks | 30/36 | €20,204 | €20,801 | +€597 | +3.0% |
| Amounts receivable within one year | 40/41 | €119,407 | €188,673 | +€69,266 | +58.0% |
| Trade receivables | 40 | €119,318 | €164,648 | +€45,330 | +38.0% |
| Other amounts receivable | 41 | €89 | €24,024 | +€23,935 | +26875.6% |
| Cash at bank and in hand | 54/58 | €8,595 | €8,259 | -€336 | -3.9% |
| Deferred charges and accrued income | 490/1 | €2,194 | €3,774 | +€1,580 | +72.0% |
| Total equity and liabilities | 10/49 | €198,863 | €265,751 | +€66,888 | +33.6% |
| Equity | 10/15 | €47,671 | €48,262 | +€591 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €29,071 | €29,662 | +€591 | +2.0% |
| Distributable reserves | 133 | €29,071 | €29,662 | +€591 | +2.0% |
| Amounts payable | 17/49 | €151,193 | €217,490 | +€66,297 | +43.8% |
| Amounts payable after more than one year | 17 | - | €4,546 | +€4,546 | |
| Financial debts | 170/4 | - | €4,546 | +€4,546 | |
| Amounts payable within one year | 42/48 | €151,193 | €212,944 | +€61,751 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €2,792 | €7,464 | +€4,672 | +167.3% |
| Trade debts | 44 | €11,873 | €14,825 | +€2,951 | +24.9% |
| Suppliers | 440/4 | €11,873 | €14,825 | +€2,951 | +24.9% |
| Advances received on contracts in progress | 46 | €127,068 | €176,917 | +€49,849 | +39.2% |
| Taxes, remuneration and social security | 45 | €9,189 | €13,738 | +€4,549 | +49.5% |
| Taxes | 450/3 | €9,189 | €10,738 | +€1,549 | +16.9% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €270 | - | -€270 | |
| Non-recurring operating income | 76A | - | €3,894 | +€3,894 | |
| Remuneration, social security and pensions | 62 | €653 | €422 | -€231 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,943 | €28,902 | +€8,959 | +44.9% |
| Other operating charges | 640/8 | €2,579 | €26,794 | +€24,215 | +938.8% |
| Non-recurring operating charges | 66A | €8,240 | - | -€8,240 | |
| Gross operating margin | 9900 | €72,272 | €59,867 | -€12,406 | -17.2% |
| Operating profit (loss) | 9901 | €40,857 | €3,748 | -€37,108 | -90.8% |
| Financial income | 75/76B | €62 | €1,717 | +€1,655 | +2680.6% |
| Recurring financial income | 75 | €62 | €1,717 | +€1,655 | +2680.6% |
| Financial charges | 65/66B | €693 | €2,041 | +€1,348 | +194.5% |
| Recurring financial charges | 65 | €693 | €2,041 | +€1,348 | +194.5% |
| Profit (loss) for the period before taxes | 9903 | €40,225 | €3,424 | -€36,801 | -91.5% |
| Income taxes | 67/77 | €2,631 | €2,833 | +€202 | +7.7% |
| Profit (loss) for the period | 9904 | €37,594 | €591 | -€37,003 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,594 | €591 | -€37,003 | -98.4% |
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 3 October 2026 via checked.be.