MONROW: 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.
MONROW
Largest movements
- Receivables within one year -€20,538
down €20,538 (-82.4%), from €24,918 to €4,381
of which Trade receivables: -€18,504
- Tangible fixed assets -€6,834
down €6,834 (-17.7%), from €38,527 to €31,693
of which Other tangible fixed assets: -€5,377
- Other debts -€26,588
down €26,588 (-99.9%), from €26,605 to €17
- Debts after one year -€7,225
down €7,225 (-36.1%), from €20,033 to €12,808
- Tax, wage and social debts +€5,367
up €5,367 (+2397.2%), from €224 to €5,591
- Reserves +€2,363
up €2,363 (+10.6%), from €22,263 to €24,625
- Gross operating margin -€23,925
down €23,925 (-67.4%), from €35,481 to €11,556
- Depreciation +€926
up €926 (+15.7%), from €5,908 to €6,834
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 | €105,488 | €79,676 | -€25,812 | -24.5% |
| Fixed assets | 21/28 | €38,527 | €31,693 | -€6,834 | -17.7% |
| Tangible fixed assets | 22/27 | €38,527 | €31,693 | -€6,834 | -17.7% |
| Plant, machinery and equipment | 23 | €3,897 | - | -€3,897 | |
| Furniture and vehicles | 24 | - | €2,440 | +€2,440 | |
| Other tangible fixed assets | 26 | €34,630 | €29,253 | -€5,377 | -15.5% |
| Current assets | 29/58 | €66,961 | €47,983 | -€18,978 | -28.3% |
| Amounts receivable within one year | 40/41 | €24,918 | €4,381 | -€20,538 | -82.4% |
| Trade receivables | 40 | €22,885 | €4,381 | -€18,504 | -80.9% |
| Other amounts receivable | 41 | €2,034 | - | -€2,034 | |
| Cash at bank and in hand | 54/58 | €41,552 | €42,102 | +€550 | +1.3% |
| Deferred charges and accrued income | 490/1 | €491 | €1,501 | +€1,010 | +205.8% |
| Total equity and liabilities | 10/49 | €105,488 | €79,676 | -€25,812 | -24.5% |
| Equity | 10/15 | €40,863 | €43,225 | +€2,363 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,263 | €24,625 | +€2,363 | +10.6% |
| Distributable reserves | 133 | €22,263 | €24,625 | +€2,363 | +10.6% |
| Amounts payable | 17/49 | €64,626 | €36,451 | -€28,175 | -43.6% |
| Amounts payable after more than one year | 17 | €20,033 | €12,808 | -€7,225 | -36.1% |
| Financial debts | 170/4 | €20,033 | €12,808 | -€7,225 | -36.1% |
| Amounts payable within one year | 42/48 | €44,593 | €23,643 | -€20,949 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | €7,158 | €7,225 | +€67 | +0.9% |
| Trade debts | 44 | €10,606 | €10,811 | +€205 | +1.9% |
| Suppliers | 440/4 | €10,606 | €10,811 | +€205 | +1.9% |
| Taxes, remuneration and social security | 45 | €224 | €5,591 | +€5,367 | +2397.2% |
| Taxes | 450/3 | €224 | €5,591 | +€5,367 | +2397.2% |
| Other amounts payable | 47/48 | €26,605 | €17 | -€26,588 | -99.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,908 | €6,834 | +€926 | +15.7% |
| Other operating charges | 640/8 | €1,123 | €824 | -€299 | -26.6% |
| Gross operating margin | 9900 | €35,481 | €11,556 | -€23,925 | -67.4% |
| Operating profit (loss) | 9901 | €28,451 | €3,898 | -€24,553 | -86.3% |
| Financial income | 75/76B | €8 | €0 | -€8 | -99.6% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -99.6% |
| Financial charges | 65/66B | €404 | €338 | -€65 | -16.1% |
| Recurring financial charges | 65 | €404 | €338 | -€65 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €28,055 | €3,560 | -€24,495 | -87.3% |
| Income taxes | 67/77 | €1,224 | €1,197 | -€27 | -2.2% |
| Profit (loss) for the period | 9904 | €26,831 | €2,363 | -€24,469 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,831 | €2,363 | -€24,469 | -91.2% |
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.