MONSAERT: 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.
What changed
MONSAERT
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€244,832
2024 · €17,462+€227,371
Equity
€3.5m
2024 · €2.9m+€638,832
Cash
€240,980
2024 · €259,555-€18,575
Balance sheet total
€32.3m
2024 · €35.8m-€3.4m
Largest movements
Assets
- Tangible fixed assets -€4.0m
down €4.0m (-16.5%), from €24.5m to €20.5m
of which Land and buildings: -€4.0m
- Financial fixed assets +€712,502
up €712,502 (+81.4%), from €875,500 to €1.6m
Equity and liabilities
- Debts after one year -€4.2m
down €4.2m (-13.2%), from €31.9m to €27.7m
- Contributions +€394,000
up €394,000 (+36.4%), from €1.1m to €1.5m
Income statement
- Gross operating margin +€1.2m
up €1.2m (+74.3%), from €1.6m to €2.8m
- Financial income -€850,773
down €850,773 (-100.0%), from €850,821 to €48
- Financial charges -€128,957
down €128,957 (-10.1%), from €1.3m to €1.2m
- Other operating charges +€101,482
up €101,482 (+140%), from €72,266 to €173,748
- Depreciation +€59,243
up €59,243 (+6.2%), from €950,224 to €1.0m
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.
Result 2024
€17,462
Gross operating margin
+€1.2m
Staff costs
-€55,244
Depreciation
-€59,243
Write-downs
-€7,600
Other operating charges
-€101,482
Financial income
-€850,773
Financial charges
+€128,957
Taxes
-€5,959
Result 2025
€244,832
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€1.4m
Investment
+€2.3m
Financing
-€3.7m
Cash 2024
€259,555
From operations (derived)
+€1.4m
Net result for the year
+€244,832
Depreciation
+€1.0m
Stocks and contracts
-€168,691
Receivables within one year
+€270,941
Smaller working-capital items
+€647
Trade debts
-€156,210
Other debts
+€154,008
Investment (derived)
+€2.3m
Investment in fixed assets (net)
+€2.3m
Financing
-€3.7m
Debts after one year
-€4.2m
Current portion of long-term debt
+€145,163
Short-term financial debts
-€24,350
Contributions, distributions and other
+€394,000
Cash 2025
€240,980
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,785,322 | €32,339,277 | -€3.4m | -9.6% |
| Fixed assets | 21/28 | €25,396,871 | €22,066,623 | -€3.3m | -13.1% |
| Tangible fixed assets | 22/27 | €24,521,371 | €20,478,621 | -€4.0m | -16.5% |
| Land and buildings | 22 | €24,043,378 | €20,062,588 | -€4.0m | -16.6% |
| Plant, machinery and equipment | 23 | €106,641 | €103,947 | -€2,694 | -2.5% |
| Furniture and vehicles | 24 | €371,351 | €312,086 | -€59,265 | -16.0% |
| Financial fixed assets | 28 | €875,500 | €1,588,002 | +€712,502 | +81.4% |
| Current assets | 29/58 | €10,388,451 | €10,272,654 | -€115,798 | -1.1% |
| Stocks and contracts in progress | 3 | €8,334,348 | €8,503,038 | +€168,691 | +2.0% |
| Stocks | 30/36 | €8,334,348 | €8,503,038 | +€168,691 | +2.0% |
| Amounts receivable within one year | 40/41 | €1,785,584 | €1,514,643 | -€270,941 | -15.2% |
| Trade receivables | 40 | €1,047,000 | €1,207,500 | +€160,500 | +15.3% |
| Other amounts receivable | 41 | €738,584 | €307,143 | -€431,441 | -58.4% |
| Cash at bank and in hand | 54/58 | €259,555 | €240,980 | -€18,575 | -7.2% |
| Deferred charges and accrued income | 490/1 | €8,964 | €13,992 | +€5,028 | +56.1% |
| Total equity and liabilities | 10/49 | €35,785,322 | €32,339,277 | -€3.4m | -9.6% |
| Equity | 10/15 | €2,891,252 | €3,530,084 | +€638,832 | +22.1% |
| Contributions | 10/11 | €1,083,000 | €1,477,000 | +€394,000 | +36.4% |
| Reserves | 13 | €1,807,345 | €2,052,177 | +€244,832 | +13.5% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €1,802,345 | €2,047,177 | +€244,832 | +13.6% |
| Profit (loss) carried forward | 14 | €907 | €907 | = | 0.0% |
| Amounts payable | 17/49 | €32,894,071 | €28,809,193 | -€4.1m | -12.4% |
| Amounts payable after more than one year | 17 | €31,920,249 | €27,711,087 | -€4.2m | -13.2% |
| Financial debts | 170/4 | €31,920,249 | €27,711,087 | -€4.2m | -13.2% |
| Amounts payable within one year | 42/48 | €973,471 | €1,098,106 | +€124,635 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €615,480 | €760,643 | +€145,163 | +23.6% |
| Financial debts | 43 | €24,350 | - | -€24,350 | |
| Credit institutions | 430/8 | €24,350 | - | -€24,350 | |
| Trade debts | 44 | €254,842 | €98,632 | -€156,210 | -61.3% |
| Suppliers | 440/4 | €254,842 | €98,632 | -€156,210 | -61.3% |
| Taxes, remuneration and social security | 45 | €78,791 | €84,815 | +€6,025 | +7.6% |
| Taxes | 450/3 | €78,791 | €84,815 | +€6,025 | +7.6% |
| Other amounts payable | 47/48 | €8 | €154,016 | +€154,008 | +2,039,841% |
| Accrued charges and deferred income | 492/3 | €350 | - | -€350 | |
| Remuneration, social security and pensions | 62 | €93,674 | €148,918 | +€55,244 | +59.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €950,224 | €1,009,467 | +€59,243 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,600 | +€7,600 | |
| Other operating charges | 640/8 | €72,266 | €173,748 | +€101,482 | +140% |
| Gross operating margin | 9900 | €1,586,678 | €2,765,392 | +€1.2m | +74.3% |
| Operating profit (loss) | 9901 | €470,514 | €1,425,659 | +€955,145 | +203% |
| Financial income | 75/76B | €850,821 | €48 | -€850,773 | -100.0% |
| Recurring financial income | 75 | €850,821 | €48 | -€850,773 | -100.0% |
| Financial charges | 65/66B | €1,280,613 | €1,151,656 | -€128,957 | -10.1% |
| Recurring financial charges | 65 | €1,280,613 | €1,151,656 | -€128,957 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €40,721 | €274,051 | +€233,329 | +573% |
| Income taxes | 67/77 | €23,260 | €29,219 | +€5,959 | +25.6% |
| Profit (loss) for the period | 9904 | €17,462 | €244,832 | +€227,371 | +1,302% |
| Transfer from tax-exempt reserves | 789 | €210,500 | - | -€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €227,962 | €244,832 | +€16,871 | +7.4% |
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 19 October 2026 via checked.be.