MONTAND: 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.
MONTAND
Largest movements
- Receivables within one year +€37,188
up €37,188 (+1,430,303%), from €3 to €37,190
of which Trade receivables: +€29,305
- Receivables after one year -€14,000
down €14,000 (-100%), from €14,000 to €0
- Cash +€4,410
up €4,410 (+23.5%), from €18,746 to €23,156
mainly Net result for the year (+€35,453) and Depreciation (+€15,061)
- Reserves +€35,453
up €35,453 (+131%), from €27,145 to €62,598
- Debts after one year -€9,939
down €9,939 (-34.8%), from €28,546 to €18,608
- Tax, wage and social debts +€9,805
up €9,805 (+74.2%), from €13,208 to €23,013
- Other debts -€5,709
down €5,709 (-100%), from €5,709 to €0
- Trade debts -€1,305
down €1,305 (-22.8%), from €5,714 to €4,409
- Gross operating margin +€24,011
up €24,011 (+56.0%), from €42,861 to €66,872
- Depreciation +€10,256
up €10,256 (+213%), from €4,805 to €15,061
- Taxes +€5,562
up €5,562 (+62.7%), from €8,872 to €14,434
- Financial charges +€769
up €769 (+80.1%), from €960 to €1,730
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 | €94,785 | €123,565 | +€28,780 | +30.4% |
| Fixed assets | 21/28 | €58,753 | €59,517 | +€763 | +1.3% |
| Tangible fixed assets | 22/27 | €58,753 | €59,517 | +€763 | +1.3% |
| Furniture and vehicles | 24 | €48,078 | €36,768 | -€11,311 | -23.5% |
| Other tangible fixed assets | 26 | €10,675 | €22,749 | +€12,074 | +113% |
| Current assets | 29/58 | €36,032 | €64,049 | +€28,017 | +77.8% |
| Amounts receivable after more than one year | 29 | €14,000 | €0 | -€14,000 | -100% |
| Other amounts receivable | 291 | €14,000 | €0 | -€14,000 | -100% |
| Amounts receivable within one year | 40/41 | €3 | €37,190 | +€37,188 | +1,430,303% |
| Trade receivables | 40 | - | €29,305 | +€29,305 | |
| Other amounts receivable | 41 | €3 | €7,886 | +€7,883 | +303,203% |
| Cash at bank and in hand | 54/58 | €18,746 | €23,156 | +€4,410 | +23.5% |
| Deferred charges and accrued income | 490/1 | €3,284 | €3,702 | +€419 | +12.8% |
| Total equity and liabilities | 10/49 | €94,785 | €123,565 | +€28,780 | +30.4% |
| Equity | 10/15 | €32,145 | €67,598 | +€35,453 | +110% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,145 | €62,598 | +€35,453 | +131% |
| Distributable reserves | 133 | €27,145 | €62,598 | +€35,453 | +131% |
| Amounts payable | 17/49 | €62,640 | €55,968 | -€6,672 | -10.7% |
| Amounts payable after more than one year | 17 | €28,546 | €18,608 | -€9,939 | -34.8% |
| Financial debts | 170/4 | €28,546 | €18,608 | -€9,939 | -34.8% |
| Amounts payable within one year | 42/48 | €34,094 | €37,360 | +€3,266 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €9,463 | €9,939 | +€475 | +5.0% |
| Trade debts | 44 | €5,714 | €4,409 | -€1,305 | -22.8% |
| Suppliers | 440/4 | €5,714 | €4,409 | -€1,305 | -22.8% |
| Taxes, remuneration and social security | 45 | €13,208 | €23,013 | +€9,805 | +74.2% |
| Taxes | 450/3 | €13,208 | €23,013 | +€9,805 | +74.2% |
| Other amounts payable | 47/48 | €5,709 | €0 | -€5,709 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,805 | €15,061 | +€10,256 | +213% |
| Other operating charges | 640/8 | €1,159 | €721 | -€438 | -37.8% |
| Gross operating margin | 9900 | €42,861 | €66,872 | +€24,011 | +56.0% |
| Operating profit (loss) | 9901 | €36,897 | €51,090 | +€14,193 | +38.5% |
| Financial income | 75/76B | €80 | €526 | +€446 | +554% |
| Recurring financial income | 75 | €80 | €526 | +€446 | +554% |
| Financial charges | 65/66B | €960 | €1,730 | +€769 | +80.1% |
| Recurring financial charges | 65 | €960 | €1,730 | +€769 | +80.1% |
| Profit (loss) for the period before taxes | 9903 | €36,017 | €49,887 | +€13,870 | +38.5% |
| Income taxes | 67/77 | €8,872 | €14,434 | +€5,562 | +62.7% |
| Profit (loss) for the period | 9904 | €27,145 | €35,453 | +€8,308 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,145 | €35,453 | +€8,308 | +30.6% |
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 25 October 2026 via checked.be.