MONTAIGNE: 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.
MONTAIGNE
Largest movements
- Cash +€10,477
up €10,477 (+51.5%), from €20,355 to €30,832
mainly Tax, wage and social debts (+€5,166) and Trade debts (+€2,917)
- Tangible fixed assets -€1,139
down €1,139 (-56.4%), from €2,018 to €879
- Deferred charges and accrued income +€1,025
up €1,025 (+139%), from €737 to €1,762
- Receivables within one year -€665
down €665 (-20.6%), from €3,232 to €2,567
of which Other amounts receivable: -€765
- Tax, wage and social debts +€5,166
up €5,166 (+46.1%), from €11,201 to €16,367
of which Taxes: +€3,896
- Trade debts +€2,917
up €2,917 (+17.9%), from €16,254 to €19,171
- Profit (loss) carried forward +€1,357
up €1,357 (+32.9%), from -€4,119 to -€2,762
- Gross operating margin +€29,269
up €29,269 (+44.5%), from €65,783 to €95,052
- Staff costs +€22,493
up €22,493 (+34.8%), from €64,712 to €87,205
- Taxes +€1,173
new in 2025: €1,173
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,842 | €37,540 | +€9,698 | +34.8% |
| Fixed assets | 21/28 | €3,518 | €2,379 | -€1,139 | -32.4% |
| Tangible fixed assets | 22/27 | €2,018 | €879 | -€1,139 | -56.4% |
| Plant, machinery and equipment | 23 | €2,018 | €879 | -€1,139 | -56.4% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €24,324 | €35,161 | +€10,837 | +44.6% |
| Amounts receivable within one year | 40/41 | €3,232 | €2,567 | -€665 | -20.6% |
| Trade receivables | 40 | €367 | €466 | +€100 | +27.2% |
| Other amounts receivable | 41 | €2,865 | €2,100 | -€765 | -26.7% |
| Cash at bank and in hand | 54/58 | €20,355 | €30,832 | +€10,477 | +51.5% |
| Deferred charges and accrued income | 490/1 | €737 | €1,762 | +€1,025 | +139% |
| Total equity and liabilities | 10/49 | €27,842 | €37,540 | +€9,698 | +34.8% |
| Equity | 10/15 | -€2,119 | -€762 | +€1,357 | +64.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,119 | -€2,762 | +€1,357 | +32.9% |
| Amounts payable | 17/49 | €29,961 | €38,302 | +€8,341 | +27.8% |
| Amounts payable within one year | 42/48 | €29,961 | €38,302 | +€8,341 | +27.8% |
| Trade debts | 44 | €16,254 | €19,171 | +€2,917 | +17.9% |
| Suppliers | 440/4 | €16,254 | €19,171 | +€2,917 | +17.9% |
| Taxes, remuneration and social security | 45 | €11,201 | €16,367 | +€5,166 | +46.1% |
| Taxes | 450/3 | €3,182 | €7,077 | +€3,896 | +122% |
| Remuneration and social security | 454/9 | €8,019 | €9,290 | +€1,270 | +15.8% |
| Other amounts payable | 47/48 | €2,506 | €2,764 | +€259 | +10.3% |
| Remuneration, social security and pensions | 62 | €64,712 | €87,205 | +€22,493 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,919 | €1,139 | -€780 | -40.7% |
| Other operating charges | 640/8 | €1,219 | €1,718 | +€499 | +41.0% |
| Gross operating margin | 9900 | €65,783 | €95,052 | +€29,269 | +44.5% |
| Operating profit (loss) | 9901 | -€2,067 | €4,990 | +€7,057 | |
| Financial income | 75/76B | €25 | €4 | -€21 | -83.3% |
| Recurring financial income | 75 | €25 | €4 | -€21 | -83.3% |
| Financial charges | 65/66B | €2,014 | €2,465 | +€450 | +22.4% |
| Recurring financial charges | 65 | €2,014 | €2,465 | +€450 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | -€4,056 | €2,530 | +€6,586 | |
| Income taxes | 67/77 | - | €1,173 | +€1,173 | |
| Profit (loss) for the period | 9904 | -€4,056 | €1,357 | +€5,413 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,056 | €1,357 | +€5,413 |
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.