Monocoque: 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.
Monocoque
Largest movements
- Receivables within one year +€829,496
up €829,496 (+259.4%), from €319,746 to €1.1m
of which Trade receivables: +€785,855
- Tangible fixed assets +€580,056
up €580,056 (+156.2%), from €371,467 to €951,523
of which Land and buildings: +€548,011
- Financial fixed assets +€210,000
up €210,000 (+26.3%), from €800,000 to €1.0m
- Stocks and contracts -€60,221
down €60,221 (-5.3%), from €1.1m to €1.1m
- Short-term financial debts +€735,624
up €735,624 (+77.2%), from €953,376 to €1.7m
- Other debts +€704,136
up €704,136 (+57.3%), from €1.2m to €1.9m
- Trade debts -€296,850
down €296,850 (-62.2%), from €477,388 to €180,538
- Current portion of long-term debt +€201,329
up €201,329 (+202.3%), from €99,533 to €300,862
- Revaluation surpluses +€158,695
new in 2024: €158,695
- Gross operating margin +€283,612
up €283,612 (+331.0%), from €85,696 to €369,308
- Financial charges +€134,651
up €134,651 (+2453.9%), from €5,487 to €140,138
- Staff costs -€93,818
down €93,818 (-57.8%), from €162,237 to €68,419
- Depreciation +€10,666
up €10,666 (+96.4%), from €11,059 to €21,726
- Financial income +€8,756
up €8,756 (+264.4%), from €3,311 to €12,067
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,828,538 | €4,378,030 | +€1.5m | +54.8% |
| Fixed assets | 21/28 | €1,171,467 | €1,961,523 | +€790,056 | +67.4% |
| Tangible fixed assets | 22/27 | €371,467 | €951,523 | +€580,056 | +156.2% |
| Land and buildings | 22 | €369,672 | €917,684 | +€548,011 | +148.2% |
| Plant, machinery and equipment | 23 | €1,795 | €421 | -€1,374 | -76.5% |
| Furniture and vehicles | 24 | - | €33,418 | +€33,418 | |
| Financial fixed assets | 28 | €800,000 | €1,010,000 | +€210,000 | +26.3% |
| Current assets | 29/58 | €1,657,070 | €2,416,507 | +€759,437 | +45.8% |
| Stocks and contracts in progress | 3 | €1,130,175 | €1,069,954 | -€60,221 | -5.3% |
| Stocks | 30/36 | €1,130,175 | €1,069,954 | -€60,221 | -5.3% |
| Amounts receivable within one year | 40/41 | €319,746 | €1,149,242 | +€829,496 | +259.4% |
| Trade receivables | 40 | €131,587 | €917,442 | +€785,855 | +597.2% |
| Other amounts receivable | 41 | €188,159 | €231,801 | +€43,641 | +23.2% |
| Current investments | 50/53 | €150,073 | €152,436 | +€2,363 | +1.6% |
| Cash at bank and in hand | 54/58 | €23,343 | €9,466 | -€13,877 | -59.4% |
| Deferred charges and accrued income | 490/1 | €33,733 | €35,409 | +€1,676 | +5.0% |
| Total equity and liabilities | 10/49 | €2,828,538 | €4,378,030 | +€1.5m | +54.8% |
| Equity | 10/15 | -€275,835 | €35,968 | +€311,803 | |
| Contributions | 10/11 | €99,500 | €99,500 | = | 0.0% |
| Revaluation surpluses | 12 | - | €158,695 | +€158,695 | |
| Reserves | 13 | €9,916 | €14,520 | +€4,604 | +46.4% |
| Distributable reserves | 133 | €9,916 | €14,520 | +€4,604 | +46.4% |
| Profit (loss) carried forward | 14 | -€385,251 | -€236,747 | +€148,504 | +38.5% |
| Amounts payable | 17/49 | €3,104,373 | €4,342,062 | +€1.2m | +39.9% |
| Amounts payable after more than one year | 17 | €289,287 | €188,425 | -€100,862 | -34.9% |
| Financial debts | 170/4 | €289,287 | €188,425 | -€100,862 | -34.9% |
| Amounts payable within one year | 42/48 | €2,807,085 | €4,109,660 | +€1.3m | +46.4% |
| Current portion of amounts payable after more than one year | 42 | €99,533 | €300,862 | +€201,329 | +202.3% |
| Financial debts | 43 | €953,376 | €1,689,000 | +€735,624 | +77.2% |
| Credit institutions | 430/8 | €953,376 | €1,689,000 | +€735,624 | +77.2% |
| Trade debts | 44 | €477,388 | €180,538 | -€296,850 | -62.2% |
| Suppliers | 440/4 | €477,388 | €180,538 | -€296,850 | -62.2% |
| Taxes, remuneration and social security | 45 | €47,938 | €6,273 | -€41,664 | -86.9% |
| Taxes | 450/3 | €29,511 | €413 | -€29,098 | -98.6% |
| Remuneration and social security | 454/9 | €18,426 | €5,861 | -€12,566 | -68.2% |
| Other amounts payable | 47/48 | €1,228,851 | €1,932,986 | +€704,136 | +57.3% |
| Accrued charges and deferred income | 492/3 | €8,000 | €43,977 | +€35,977 | +449.7% |
| Remuneration, social security and pensions | 62 | €162,237 | €68,419 | -€93,818 | -57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,059 | €21,726 | +€10,666 | +96.4% |
| Other operating charges | 640/8 | €3,894 | €2,704 | -€1,190 | -30.6% |
| Non-recurring operating charges | 66A | €69,300 | - | -€69,300 | |
| Gross operating margin | 9900 | €85,696 | €369,308 | +€283,612 | +331.0% |
| Operating profit (loss) | 9901 | -€160,794 | €276,459 | +€437,253 | |
| Financial income | 75/76B | €3,311 | €12,067 | +€8,756 | +264.4% |
| Recurring financial income | 75 | €3,311 | €12,067 | +€8,756 | +264.4% |
| Financial charges | 65/66B | €5,487 | €140,138 | +€134,651 | +2453.9% |
| Recurring financial charges | 65 | €5,487 | €140,138 | +€134,651 | +2453.9% |
| Profit (loss) for the period before taxes | 9903 | -€162,970 | €148,388 | +€311,358 | |
| Income taxes | 67/77 | €478 | -€116 | -€594 | |
| Profit (loss) for the period | 9904 | -€163,448 | €148,504 | +€311,951 | |
| Profit (loss) for the period to be appropriated | 9905 | -€163,448 | €148,504 | +€311,951 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.