MONTANA: 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.
MONTANA
Largest movements
- Receivables within one year +€17,600
up €17,600 (+94.9%), from €18,549 to €36,149
of which Trade receivables: +€18,000
- Short-term financial debts +€100,000
new in 2025: €100,000
- Other debts -€30,360
down €30,360 (-9.9%), from €305,147 to €274,787
- Debts after one year -€18,732
down €18,732 (-5.6%), from €331,570 to €312,838
- Tax, wage and social debts -€9,283
down €9,283 (-97.8%), from €9,491 to €208
- Gross operating margin -€35,645
down €35,645 (-50.9%), from €70,010 to €34,366
- Taxes -€6,815
down €6,815 (-69.6%), from €9,791 to €2,976
- Depreciation +€2,290
up €2,290 (+8.1%), from €28,360 to €30,650
- Financial charges +€937
up €937 (+20.4%), from €4,596 to €5,532
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 | €844,737 | €878,816 | +€34,080 | +4.0% |
| Fixed assets | 21/28 | €823,004 | €831,506 | +€8,502 | +1.0% |
| Tangible fixed assets | 22/27 | €823,004 | €831,506 | +€8,502 | +1.0% |
| Land and buildings | 22 | €822,564 | €818,095 | -€4,469 | -0.5% |
| Furniture and vehicles | 24 | - | €13,261 | +€13,261 | |
| Other tangible fixed assets | 26 | €439 | €149 | -€290 | -66.0% |
| Current assets | 29/58 | €21,733 | €47,310 | +€25,577 | +118% |
| Stocks and contracts in progress | 3 | €1,042 | €1,042 | = | 0.0% |
| Stocks | 30/36 | €1,042 | €1,042 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,549 | €36,149 | +€17,600 | +94.9% |
| Trade receivables | 40 | - | €18,000 | +€18,000 | |
| Other amounts receivable | 41 | €18,549 | €18,149 | -€400 | -2.2% |
| Cash at bank and in hand | 54/58 | €2,064 | €10,046 | +€7,982 | +387% |
| Deferred charges and accrued income | 490/1 | €78 | €74 | -€5 | -5.8% |
| Total equity and liabilities | 10/49 | €844,737 | €878,816 | +€34,080 | +4.0% |
| Equity | 10/15 | €179,939 | €172,251 | -€7,688 | -4.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,374 | €6,374 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,515 | €4,515 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,973 | €147,286 | -€7,688 | -5.0% |
| Amounts payable | 17/49 | €664,797 | €706,565 | +€41,767 | +6.3% |
| Amounts payable after more than one year | 17 | €331,570 | €312,838 | -€18,732 | -5.6% |
| Financial debts | 170/4 | €331,570 | €312,838 | -€18,732 | -5.6% |
| Amounts payable within one year | 42/48 | €333,227 | €393,727 | +€60,500 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €18,526 | €18,732 | +€206 | +1.1% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €63 | - | -€63 | |
| Suppliers | 440/4 | €63 | - | -€63 | |
| Taxes, remuneration and social security | 45 | €9,491 | €208 | -€9,283 | -97.8% |
| Taxes | 450/3 | €9,491 | €208 | -€9,283 | -97.8% |
| Other amounts payable | 47/48 | €305,147 | €274,787 | -€30,360 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,360 | €30,650 | +€2,290 | +8.1% |
| Other operating charges | 640/8 | €2,650 | €2,897 | +€247 | +9.3% |
| Gross operating margin | 9900 | €70,010 | €34,366 | -€35,645 | -50.9% |
| Operating profit (loss) | 9901 | €39,001 | €819 | -€38,182 | -97.9% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €4,596 | €5,532 | +€937 | +20.4% |
| Recurring financial charges | 65 | €4,596 | €5,532 | +€937 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €34,405 | -€4,712 | -€39,117 | |
| Income taxes | 67/77 | €9,791 | €2,976 | -€6,815 | -69.6% |
| Profit (loss) for the period | 9904 | €24,614 | -€7,688 | -€32,302 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,614 | -€7,688 | -€32,302 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.