MONTANA PROJECTS: 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 PROJECTS
Largest movements
- Cash -€161,818
down €161,818 (-53.8%), from €300,592 to €138,774
mainly Trade debts (-€250,761) and Other debts (-€90,913)
- Receivables within one year -€129,071
down €129,071 (-48.3%), from €267,092 to €138,022
of which Trade receivables: -€125,916
- Deferred charges and accrued income -€42,201
no longer reported in 2025 (was €42,201)
- Tangible fixed assets -€12,318
down €12,318 (-63.6%), from €19,370 to €7,052
- Trade debts -€250,761
down €250,761 (-71.5%), from €350,529 to €99,768
- Other debts -€90,913
down €90,913 (-82.4%), from €110,308 to €19,394
- Gross operating margin -€32,285
down €32,285 (-38.0%), from €84,993 to €52,708
- Staff costs -€20,256
down €20,256 (-49.9%), from €40,614 to €20,358
- Write-downs -€7,026
no longer reported in 2025 (was €7,026)
- Taxes -€3,683
down €3,683 (-50.2%), from €7,335 to €3,652
- Other operating charges +€1,613
up €1,613 (+15.4%), from €10,486 to €12,099
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 | €629,256 | €283,848 | -€345,408 | -54.9% |
| Fixed assets | 21/28 | €19,370 | €7,052 | -€12,318 | -63.6% |
| Tangible fixed assets | 22/27 | €19,370 | €7,052 | -€12,318 | -63.6% |
| Furniture and vehicles | 24 | €19,370 | €7,052 | -€12,318 | -63.6% |
| Current assets | 29/58 | €609,886 | €276,796 | -€333,090 | -54.6% |
| Amounts receivable within one year | 40/41 | €267,092 | €138,022 | -€129,071 | -48.3% |
| Trade receivables | 40 | €260,938 | €135,022 | -€125,916 | -48.3% |
| Other amounts receivable | 41 | €6,155 | €3,000 | -€3,155 | -51.3% |
| Cash at bank and in hand | 54/58 | €300,592 | €138,774 | -€161,818 | -53.8% |
| Deferred charges and accrued income | 490/1 | €42,201 | - | -€42,201 | |
| Total equity and liabilities | 10/49 | €629,256 | €283,848 | -€345,408 | -54.9% |
| Equity | 10/15 | €139,573 | €143,708 | +€4,135 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,973 | €125,108 | +€4,135 | +3.4% |
| Distributable reserves | 133 | €120,973 | €125,108 | +€4,135 | +3.4% |
| Amounts payable | 17/49 | €489,683 | €140,140 | -€349,542 | -71.4% |
| Amounts payable within one year | 42/48 | €489,683 | €140,140 | -€349,542 | -71.4% |
| Current portion of amounts payable after more than one year | 42 | €9,622 | €5,895 | -€3,727 | -38.7% |
| Trade debts | 44 | €350,529 | €99,768 | -€250,761 | -71.5% |
| Suppliers | 440/4 | €350,529 | €99,768 | -€250,761 | -71.5% |
| Taxes, remuneration and social security | 45 | €19,224 | €15,083 | -€4,140 | -21.5% |
| Taxes | 450/3 | €7,559 | €4,822 | -€2,736 | -36.2% |
| Remuneration and social security | 454/9 | €11,665 | €10,261 | -€1,404 | -12.0% |
| Other amounts payable | 47/48 | €110,308 | €19,394 | -€90,913 | -82.4% |
| Remuneration, social security and pensions | 62 | €40,614 | €20,358 | -€20,256 | -49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,138 | €12,318 | +€180 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,026 | - | -€7,026 | |
| Other operating charges | 640/8 | €10,486 | €12,099 | +€1,613 | +15.4% |
| Gross operating margin | 9900 | €84,993 | €52,708 | -€32,285 | -38.0% |
| Operating profit (loss) | 9901 | €14,730 | €7,934 | -€6,796 | -46.1% |
| Financial income | 75/76B | €3 | €914 | +€911 | +28,911% |
| Recurring financial income | 75 | €3 | €914 | +€911 | +28,911% |
| Financial charges | 65/66B | €271 | €1,061 | +€790 | +291% |
| Recurring financial charges | 65 | €271 | €1,061 | +€790 | +291% |
| Profit (loss) for the period before taxes | 9903 | €14,461 | €7,787 | -€6,675 | -46.2% |
| Income taxes | 67/77 | €7,335 | €3,652 | -€3,683 | -50.2% |
| Profit (loss) for the period | 9904 | €7,127 | €4,135 | -€2,992 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,127 | €4,135 | -€2,992 | -42.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.