MONTALL: 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.
MONTALL
Largest movements
- Receivables within one year -€17,558
down €17,558 (-13.6%), from €128,700 to €111,141
of which Trade receivables: -€21,121
- Cash +€6,849
up €6,849 (+18.2%), from €37,535 to €44,384
mainly Trade debts (+€46,712) and Receivables within one year (+€17,558)
- Trade debts +€46,712
up €46,712 (+40.4%), from €115,571 to €162,282
- Tax, wage and social debts -€34,680
down €34,680 (-78.1%), from €44,394 to €9,713
of which Taxes: -€27,861
- Current portion of long-term debt -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Other debts -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Reserves +€7,553
up €7,553 (+9.2%), from €82,248 to €89,800
of which Distributable reserves: +€9,553
- Gross operating margin -€25,539
down €25,539 (-12.2%), from €208,538 to €183,000
- Staff costs +€5,740
up €5,740 (+3.6%), from €160,489 to €166,229
- Taxes +€3,937
up €3,937 (+1686.4%), from €233 to €4,170
- Financial charges -€2,112
down €2,112 (-66.8%), from €3,161 to €1,049
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 | €290,693 | €281,796 | -€8,897 | -3.1% |
| Fixed assets | 21/28 | €3,414 | €3,162 | -€251 | -7.4% |
| Tangible fixed assets | 22/27 | €3,414 | €3,162 | -€251 | -7.4% |
| Plant, machinery and equipment | 23 | €1,535 | €2,367 | +€832 | +54.2% |
| Furniture and vehicles | 24 | €1,879 | €795 | -€1,083 | -57.7% |
| Current assets | 29/58 | €287,279 | €278,634 | -€8,646 | -3.0% |
| Stocks and contracts in progress | 3 | €121,045 | €123,109 | +€2,064 | +1.7% |
| Stocks | 30/36 | €121,045 | €123,109 | +€2,064 | +1.7% |
| Amounts receivable within one year | 40/41 | €128,700 | €111,141 | -€17,558 | -13.6% |
| Trade receivables | 40 | €126,433 | €105,312 | -€21,121 | -16.7% |
| Other amounts receivable | 41 | €2,267 | €5,830 | +€3,563 | +157.2% |
| Cash at bank and in hand | 54/58 | €37,535 | €44,384 | +€6,849 | +18.2% |
| Total equity and liabilities | 10/49 | €290,693 | €281,796 | -€8,897 | -3.1% |
| Equity | 10/15 | €100,729 | €109,800 | +€9,072 | +9.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €82,248 | €89,800 | +€7,553 | +9.2% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100.0% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100.0% |
| Distributable reserves | 133 | €80,248 | €89,800 | +€9,553 | +11.9% |
| Profit (loss) carried forward | 14 | -€1,519 | €0 | +€1,519 | |
| Amounts payable | 17/49 | €189,964 | €171,996 | -€17,969 | -9.5% |
| Amounts payable within one year | 42/48 | €189,964 | €171,996 | -€17,969 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €0 | -€20,000 | -100.0% |
| Trade debts | 44 | €115,571 | €162,282 | +€46,712 | +40.4% |
| Suppliers | 440/4 | €115,571 | €162,282 | +€46,712 | +40.4% |
| Taxes, remuneration and social security | 45 | €44,394 | €9,713 | -€34,680 | -78.1% |
| Taxes | 450/3 | €35,204 | €7,343 | -€27,861 | -79.1% |
| Remuneration and social security | 454/9 | €9,190 | €2,370 | -€6,820 | -74.2% |
| Other amounts payable | 47/48 | €10,000 | €0 | -€10,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €160,489 | €166,229 | +€5,740 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,746 | €1,747 | +€1 | +0.1% |
| Other operating charges | 640/8 | €1,151 | €732 | -€419 | -36.4% |
| Gross operating margin | 9900 | €208,538 | €183,000 | -€25,539 | -12.2% |
| Operating profit (loss) | 9901 | €45,153 | €14,291 | -€30,861 | -68.3% |
| Financial income | 75/76B | €74 | €0 | -€74 | -100.0% |
| Recurring financial income | 75 | €74 | €0 | -€74 | -100.0% |
| Financial charges | 65/66B | €3,161 | €1,049 | -€2,112 | -66.8% |
| Recurring financial charges | 65 | €3,161 | €1,049 | -€2,112 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €42,066 | €13,242 | -€28,823 | -68.5% |
| Income taxes | 67/77 | €233 | €4,170 | +€3,937 | +1686.4% |
| Profit (loss) for the period | 9904 | €41,832 | €9,072 | -€32,760 | -78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,832 | €9,072 | -€32,760 | -78.3% |
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 10 October 2026 via checked.be.