MONTAS: 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.
MONTAS
Largest movements
- Cash -€10,816
down €10,816 (-58.3%), from €18,549 to €7,733
mainly Other debts (-€13,471) and Debts after one year (-€9,514)
- Tangible fixed assets -€4,810
down €4,810 (-2.5%), from €191,108 to €186,297
of which Furniture and vehicles: -€4,121
- Current investments -€3,347
down €3,347 (-5.0%), from €66,602 to €63,255
- Other debts -€13,471
no longer reported in 2025 (was €13,471)
- Debts after one year -€9,514
down €9,514 (-13.8%), from €68,865 to €59,351
- Reserves +€3,534
up €3,534 (+2.0%), from €176,052 to €179,586
- Gross operating margin -€18,970
down €18,970 (-46.0%), from €41,257 to €22,287
- Taxes -€4,147
down €4,147 (-50.6%), from €8,194 to €4,046
- Depreciation +€1,638
up €1,638 (+20.0%), from €8,177 to €9,815
- Financial charges +€779
up €779 (+33.0%), from €2,359 to €3,137
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 | €299,764 | €279,821 | -€19,942 | -6.7% |
| Fixed assets | 21/28 | €191,108 | €186,297 | -€4,810 | -2.5% |
| Tangible fixed assets | 22/27 | €191,108 | €186,297 | -€4,810 | -2.5% |
| Land and buildings | 22 | €157,235 | €156,545 | -€689 | -0.4% |
| Furniture and vehicles | 24 | €33,873 | €29,752 | -€4,121 | -12.2% |
| Current assets | 29/58 | €108,656 | €93,524 | -€15,132 | -13.9% |
| Amounts receivable within one year | 40/41 | €22,915 | €22,183 | -€732 | -3.2% |
| Trade receivables | 40 | €21,861 | €20,586 | -€1,275 | -5.8% |
| Other amounts receivable | 41 | €1,054 | €1,597 | +€542 | +51.5% |
| Current investments | 50/53 | €66,602 | €63,255 | -€3,347 | -5.0% |
| Cash at bank and in hand | 54/58 | €18,549 | €7,733 | -€10,816 | -58.3% |
| Deferred charges and accrued income | 490/1 | €589 | €352 | -€236 | -40.2% |
| Total equity and liabilities | 10/49 | €299,764 | €279,821 | -€19,942 | -6.7% |
| Equity | 10/15 | €196,052 | €199,586 | +€3,534 | +1.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €176,052 | €179,586 | +€3,534 | +2.0% |
| Distributable reserves | 133 | €176,052 | €179,586 | +€3,534 | +2.0% |
| Amounts payable | 17/49 | €103,711 | €80,235 | -€23,476 | -22.6% |
| Amounts payable after more than one year | 17 | €68,865 | €59,351 | -€9,514 | -13.8% |
| Financial debts | 170/4 | €68,865 | €59,351 | -€9,514 | -13.8% |
| Amounts payable within one year | 42/48 | €34,691 | €20,752 | -€13,939 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €10,100 | €10,299 | +€199 | +2.0% |
| Financial debts | 43 | €232 | €83 | -€150 | -64.5% |
| Credit institutions | 430/8 | €232 | €83 | -€150 | -64.5% |
| Trade debts | 44 | €3,781 | €1,462 | -€2,320 | -61.3% |
| Suppliers | 440/4 | €3,781 | €1,462 | -€2,320 | -61.3% |
| Taxes, remuneration and social security | 45 | €7,107 | €8,909 | +€1,802 | +25.4% |
| Taxes | 450/3 | €7,107 | €8,909 | +€1,802 | +25.4% |
| Other amounts payable | 47/48 | €13,471 | - | -€13,471 | |
| Accrued charges and deferred income | 492/3 | €154 | €132 | -€23 | -14.7% |
| Non-recurring operating income | 76A | €18,005 | - | -€18,005 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,177 | €9,815 | +€1,638 | +20.0% |
| Other operating charges | 640/8 | €1,772 | €1,943 | +€171 | +9.7% |
| Gross operating margin | 9900 | €41,257 | €22,287 | -€18,970 | -46.0% |
| Operating profit (loss) | 9901 | €31,308 | €10,529 | -€20,779 | -66.4% |
| Financial income | 75/76B | €320 | €189 | -€132 | -41.1% |
| Recurring financial income | 75 | €320 | €189 | -€132 | -41.1% |
| Financial charges | 65/66B | €2,359 | €3,137 | +€779 | +33.0% |
| Recurring financial charges | 65 | €2,359 | €3,137 | +€779 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €29,270 | €7,580 | -€21,690 | -74.1% |
| Income taxes | 67/77 | €8,194 | €4,046 | -€4,147 | -50.6% |
| Profit (loss) for the period | 9904 | €21,076 | €3,534 | -€17,542 | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,076 | €3,534 | -€17,542 | -83.2% |
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 12 October 2026 via checked.be.