MONSEL: 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.
MONSEL
Largest movements
- Cash -€107,955
down €107,955 (-63.6%), from €169,632 to €61,677
mainly Contributions, distributions and other (-€157,143) and Debts after one year (-€49,679)
- Stocks and contracts +€37,697
up €37,697 (+5.6%), from €672,706 to €710,403
- Intangible fixed assets -€29,349
down €29,349 (-10.9%), from €269,922 to €240,573
- Tangible fixed assets -€18,385
down €18,385 (-18.8%), from €97,637 to €79,253
of which Other tangible fixed assets: -€18,085
- Debts after one year -€49,679
down €49,679 (-10.1%), from €492,761 to €443,082
of which Financial debts: -€45,970
- Tax, wage and social debts -€23,954
down €23,954 (-18.8%), from €127,678 to €103,724
of which Taxes: -€23,298
- Trade debts -€17,923
down €17,923 (-30.7%), from €58,363 to €40,439
- Gross operating margin +€110,869
up €110,869 (+28.5%), from €389,301 to €500,170
- Staff costs +€63,016
up €63,016 (+40.1%), from €157,108 to €220,123
- Financial charges +€15,500
up €15,500 (+83.9%), from €18,485 to €33,985
of which Financial charges: +€15,820
- Depreciation +€12,371
up €12,371 (+35.0%), from €35,363 to €47,734
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 | €1,226,559 | €1,111,793 | -€114,766 | -9.4% |
| Fixed assets | 21/28 | €367,559 | €319,826 | -€47,734 | -13.0% |
| Intangible fixed assets | 21 | €269,922 | €240,573 | -€29,349 | -10.9% |
| Tangible fixed assets | 22/27 | €97,637 | €79,253 | -€18,385 | -18.8% |
| Furniture and vehicles | 24 | €300 | - | -€300 | |
| Other tangible fixed assets | 26 | €97,337 | €79,253 | -€18,085 | -18.6% |
| Current assets | 29/58 | €859,000 | €791,967 | -€67,033 | -7.8% |
| Stocks and contracts in progress | 3 | €672,706 | €710,403 | +€37,697 | +5.6% |
| Stocks | 30/36 | €672,706 | €710,403 | +€37,697 | +5.6% |
| Amounts receivable within one year | 40/41 | €10,116 | €16,034 | +€5,917 | +58.5% |
| Trade receivables | 40 | €5,698 | €12,463 | +€6,765 | +118.7% |
| Other amounts receivable | 41 | €4,418 | €3,571 | -€847 | -19.2% |
| Cash at bank and in hand | 54/58 | €169,632 | €61,677 | -€107,955 | -63.6% |
| Deferred charges and accrued income | 490/1 | €6,546 | €3,854 | -€2,692 | -41.1% |
| Total equity and liabilities | 10/49 | €1,226,559 | €1,111,793 | -€114,766 | -9.4% |
| Equity | 10/15 | €368,409 | €364,135 | -€4,274 | -1.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €279,179 | €279,179 | = | 0.0% |
| Tax-exempt reserves | 132 | €279,179 | €279,179 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,770 | €64,496 | -€4,274 | -6.2% |
| Amounts payable | 17/49 | €858,150 | €747,658 | -€110,492 | -12.9% |
| Amounts payable after more than one year | 17 | €492,761 | €443,082 | -€49,679 | -10.1% |
| Financial debts | 170/4 | €489,052 | €443,082 | -€45,970 | -9.4% |
| Other amounts payable | 178/9 | €3,709 | - | -€3,709 | |
| Amounts payable within one year | 42/48 | €360,375 | €304,576 | -€55,799 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €61,716 | €55,109 | -€6,607 | -10.7% |
| Trade debts | 44 | €58,363 | €40,439 | -€17,923 | -30.7% |
| Suppliers | 440/4 | €58,363 | €40,439 | -€17,923 | -30.7% |
| Advances received on contracts in progress | 46 | €2,539 | €2,539 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €127,678 | €103,724 | -€23,954 | -18.8% |
| Taxes | 450/3 | €115,664 | €92,366 | -€23,298 | -20.1% |
| Remuneration and social security | 454/9 | €12,014 | €11,358 | -€657 | -5.5% |
| Other amounts payable | 47/48 | €110,079 | €102,765 | -€7,314 | -6.6% |
| Accrued charges and deferred income | 492/3 | €5,015 | - | -€5,015 | |
| Non-recurring operating income | 76A | - | €5,424 | +€5,424 | |
| Remuneration, social security and pensions | 62 | €157,108 | €220,123 | +€63,016 | +40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,363 | €47,734 | +€12,371 | +35.0% |
| Other operating charges | 640/8 | €112 | €50 | -€62 | -55.5% |
| Non-recurring operating charges | 66A | €281 | €216 | -€65 | -23.1% |
| Gross operating margin | 9900 | €389,301 | €500,170 | +€110,869 | +28.5% |
| Operating profit (loss) | 9901 | €196,438 | €232,047 | +€35,609 | +18.1% |
| Financial income | 75/76B | €4,718 | €1,517 | -€3,201 | -67.8% |
| Recurring financial income | 75 | €4,718 | €1,517 | -€3,201 | -67.8% |
| Financial charges | 65/66B | €18,485 | €33,985 | +€15,500 | +83.9% |
| Recurring financial charges | 65 | €18,165 | €33,985 | +€15,820 | +87.1% |
| Non-recurring financial charges | 66B | €320 | - | -€320 | |
| Profit (loss) for the period before taxes | 9903 | €182,672 | €199,580 | +€16,908 | +9.3% |
| Income taxes | 67/77 | €46,557 | €46,711 | +€154 | +0.3% |
| Profit (loss) for the period | 9904 | €136,115 | €152,868 | +€16,753 | +12.3% |
| Transfer to tax-exempt reserves | 689 | €279,179 | - | -€279,179 | |
| Profit (loss) for the period to be appropriated | 9905 | -€143,064 | €152,868 | +€295,933 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.