MONBAU: what changed
What changed
MONBAU
NACE 10.712, Artisanal bread and fresh pastry making
filed annual accounts (NBB)
Net result for the year
€18,049
2024 · €18,598-€549
Equity
€53,960
2024 · €35,911+€18,049
Cash
€10,357
2024 · €8,734+€1,624
Balance sheet total
€350,032
2024 · €380,472-€30,440
Largest movements
Assets
- Receivables within one year -€16,083
down €16,083 (-20.4%), from €78,974 to €62,892
of which Other amounts receivable: -€40,523
- Tangible fixed assets -€14,803
down €14,803 (-5.5%), from €268,932 to €254,129
of which Other tangible fixed assets: -€16,361
Equity and liabilities
- Other debts +€40,995
up €40,995 (+256%), from €16,004 to €56,999
- Debts after one year -€39,333
down €39,333 (-49.8%), from €78,948 to €39,616
- Trade debts -€30,625
down €30,625 (-31.5%), from €97,271 to €66,646
- Current portion of long-term debt -€22,954
down €22,954 (-23.1%), from €99,288 to €76,334
- Profit (loss) carried forward +€18,049
up €18,049 (+56.9%), from -€31,739 to -€13,690
Income statement
- Taxes +€10,806
up €10,806 (+167%), from €6,480 to €17,286
- Staff costs +€9,573
up €9,573 (+2.7%), from €351,923 to €361,496
- Depreciation -€6,255
down €6,255 (-8.8%), from €70,724 to €64,469
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€18,598
Gross operating margin
-€842
Staff costs
-€9,573
Depreciation
+€6,255
Other operating charges
+€2,047
Other operating items
+€13,273
Financial charges
-€903
Taxes
-€10,806
Result 2025
€18,049
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€113,577
Investment
-€49,666
Financing
-€62,287
Cash 2024
€8,734
From operations (derived)
+€113,577
Net result for the year
+€18,049
Depreciation
+€64,469
Stocks and contracts
+€1,308
Receivables within one year
+€16,083
Deferred charges and accrued income
-€130
Trade debts
-€30,625
Tax, wage and social debts
+€2,779
Other debts
+€40,995
Accrued charges and deferred income
+€649
Investment (derived)
-€49,666
Investment in fixed assets (net)
-€49,666
Financing
-€62,287
Debts after one year
-€39,333
Current portion of long-term debt
-€22,954
Cash 2025
€10,357
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €380,472 | €350,032 | -€30,440 | -8.0% |
| Formation expenses | 20 | €1 | €1 | = | 0.0% |
| Fixed assets | 21/28 | €270,932 | €256,129 | -€14,803 | -5.5% |
| Tangible fixed assets | 22/27 | €268,932 | €254,129 | -€14,803 | -5.5% |
| Plant, machinery and equipment | 23 | €52,715 | €41,992 | -€10,723 | -20.3% |
| Furniture and vehicles | 24 | €3,395 | €15,676 | +€12,281 | +362% |
| Other tangible fixed assets | 26 | €212,823 | €196,461 | -€16,361 | -7.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €109,539 | €93,902 | -€15,637 | -14.3% |
| Stocks and contracts in progress | 3 | €17,404 | €16,096 | -€1,308 | -7.5% |
| Stocks | 30/36 | €17,404 | €16,096 | -€1,308 | -7.5% |
| Amounts receivable within one year | 40/41 | €78,974 | €62,892 | -€16,083 | -20.4% |
| Trade receivables | 40 | €13,151 | €37,592 | +€24,440 | +186% |
| Other amounts receivable | 41 | €65,823 | €25,300 | -€40,523 | -61.6% |
| Cash at bank and in hand | 54/58 | €8,734 | €10,357 | +€1,624 | +18.6% |
| Deferred charges and accrued income | 490/1 | €4,427 | €4,557 | +€130 | +2.9% |
| Total equity and liabilities | 10/49 | €380,472 | €350,032 | -€30,440 | -8.0% |
| Equity | 10/15 | €35,911 | €53,960 | +€18,049 | +50.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,739 | -€13,690 | +€18,049 | +56.9% |
| Amounts payable | 17/49 | €344,561 | €296,072 | -€48,489 | -14.1% |
| Amounts payable after more than one year | 17 | €78,948 | €39,616 | -€39,333 | -49.8% |
| Financial debts | 170/4 | €78,948 | €39,616 | -€39,333 | -49.8% |
| Amounts payable within one year | 42/48 | €265,243 | €255,438 | -€9,805 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €99,288 | €76,334 | -€22,954 | -23.1% |
| Trade debts | 44 | €97,271 | €66,646 | -€30,625 | -31.5% |
| Suppliers | 440/4 | €97,271 | €66,646 | -€30,625 | -31.5% |
| Taxes, remuneration and social security | 45 | €52,680 | €55,459 | +€2,779 | +5.3% |
| Taxes | 450/3 | - | €2,015 | +€2,015 | |
| Remuneration and social security | 454/9 | €52,680 | €53,444 | +€764 | +1.5% |
| Other amounts payable | 47/48 | €16,004 | €56,999 | +€40,995 | +256% |
| Accrued charges and deferred income | 492/3 | €370 | €1,019 | +€649 | +175% |
| Non-recurring operating income | 76A | €16,975 | €300 | -€16,674 | -98.2% |
| Remuneration, social security and pensions | 62 | €351,923 | €361,496 | +€9,573 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,724 | €64,469 | -€6,255 | -8.8% |
| Other operating charges | 640/8 | €4,562 | €2,516 | -€2,047 | -44.9% |
| Non-recurring operating charges | 66A | €13,744 | €471 | -€13,273 | -96.6% |
| Gross operating margin | 9900 | €471,260 | €470,418 | -€842 | -0.2% |
| Operating profit (loss) | 9901 | €30,305 | €41,466 | +€11,161 | +36.8% |
| Financial charges | 65/66B | €5,228 | €6,131 | +€903 | +17.3% |
| Recurring financial charges | 65 | €5,228 | €6,131 | +€903 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €25,077 | €35,335 | +€10,257 | +40.9% |
| Income taxes | 67/77 | €6,480 | €17,286 | +€10,806 | +167% |
| Profit (loss) for the period | 9904 | €18,598 | €18,049 | -€549 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,598 | €18,049 | -€549 | -3.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.