MONTAGNA: 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.
MONTAGNA
Largest movements
- Stocks and contracts +€383,781
up €383,781 (+10.7%), from €3.6m to €4.0m
- Cash +€42,829
up €42,829 (+365.4%), from €11,722 to €54,551
mainly Other debts (+€1.5m) and Advances received (+€296,800)
- Other debts +€1.5m
up €1.5m (+159.3%), from €956,030 to €2.5m
- Short-term financial debts -€1.4m
down €1.4m (-52.6%), from €2.6m to €1.3m
- Advances received +€296,800
new in 2025: €296,800
- Financial charges -€2,029
down €2,029 (-96.6%), from €2,099 to €71
- Gross operating margin -€975
down €975 (-25.9%), from -€3,764 to -€4,738
- Other operating charges +€186
up €186 (+21.3%), from €874 to €1,060
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 | €3,592,608 | €4,034,229 | +€441,620 | +12.3% |
| Current assets | 29/58 | €3,592,608 | €4,034,229 | +€441,620 | +12.3% |
| Stocks and contracts in progress | 3 | €3,580,244 | €3,964,024 | +€383,781 | +10.7% |
| Stocks | 30/36 | €3,580,244 | €3,964,024 | +€383,781 | +10.7% |
| Amounts receivable within one year | 40/41 | - | €15,654 | +€15,654 | |
| Other amounts receivable | 41 | - | €15,654 | +€15,654 | |
| Cash at bank and in hand | 54/58 | €11,722 | €54,551 | +€42,829 | +365.4% |
| Deferred charges and accrued income | 490/1 | €643 | - | -€643 | |
| Total equity and liabilities | 10/49 | €3,592,608 | €4,034,229 | +€441,620 | +12.3% |
| Equity | 10/15 | -€11,538 | -€17,407 | -€5,869 | -50.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,538 | -€22,407 | -€5,869 | -35.5% |
| Amounts payable | 17/49 | €3,604,146 | €4,051,636 | +€447,490 | +12.4% |
| Amounts payable within one year | 42/48 | €3,604,146 | €4,051,636 | +€447,490 | +12.4% |
| Financial debts | 43 | €2,645,000 | €1,255,000 | -€1.4m | -52.6% |
| Credit institutions | 430/8 | €2,645,000 | €1,255,000 | -€1.4m | -52.6% |
| Trade debts | 44 | €3,116 | €20,920 | +€17,804 | +571.4% |
| Suppliers | 440/4 | €3,116 | €20,920 | +€17,804 | +571.4% |
| Advances received on contracts in progress | 46 | - | €296,800 | +€296,800 | |
| Other amounts payable | 47/48 | €956,030 | €2,478,915 | +€1.5m | +159.3% |
| Other operating charges | 640/8 | €874 | €1,060 | +€186 | +21.3% |
| Gross operating margin | 9900 | -€3,764 | -€4,738 | -€975 | -25.9% |
| Operating profit (loss) | 9901 | -€4,638 | -€5,799 | -€1,161 | -25.0% |
| Financial charges | 65/66B | €2,099 | €71 | -€2,029 | -96.6% |
| Recurring financial charges | 65 | €2,099 | €71 | -€2,029 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,737 | -€5,869 | +€868 | +12.9% |
| Profit (loss) for the period | 9904 | -€6,737 | -€5,869 | +€868 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,737 | -€5,869 | +€868 | +12.9% |
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 5 October 2026 via checked.be.