MONTAVIDO: 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.
MONTAVIDO
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Reserves +€727,422
up €727,422 (+39,214%), from €1,855 to €729,277
of which Distributable reserves: +€727,422
- Profit (loss) carried forward -€449,301
down €449,301 (-100%), from €449,301 to €0
- Debts after one year -€245,276
down €245,276 (-14.3%), from €1.7m to €1.5m
- Other debts -€46,895
down €46,895 (-98.9%), from €47,435 to €540
- Financial income +€135,120
up €135,120 (+208%), from €65,028 to €200,148
- Gross operating margin -€30,832
down €30,832 (-14.1%), from €218,253 to €187,420
- Taxes -€9,954
down €9,954 (-30.3%), from €32,833 to €22,879
- Financial charges +€6,240
up €6,240 (+10.9%), from €57,314 to €63,554
- Depreciation -€3,910
down €3,910 (-17.4%), from €22,480 to €18,570
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 | €2,506,861 | €2,485,702 | -€21,160 | -0.8% |
| Fixed assets | 21/28 | €2,447,544 | €2,431,079 | -€16,464 | -0.7% |
| Tangible fixed assets | 22/27 | €345,544 | €329,079 | -€16,464 | -4.8% |
| Land and buildings | 22 | €336,104 | €325,290 | -€10,814 | -3.2% |
| Plant, machinery and equipment | 23 | €2,833 | €2,286 | -€547 | -19.3% |
| Furniture and vehicles | 24 | €6,607 | €1,503 | -€5,104 | -77.2% |
| Financial fixed assets | 28 | €2,102,000 | €2,102,000 | = | 0.0% |
| Current assets | 29/58 | €59,318 | €54,623 | -€4,695 | -7.9% |
| Amounts receivable within one year | 40/41 | €27,910 | €37,287 | +€9,377 | +33.6% |
| Trade receivables | 40 | €27,225 | €30,720 | +€3,495 | +12.8% |
| Other amounts receivable | 41 | €685 | €6,567 | +€5,881 | +858% |
| Cash at bank and in hand | 54/58 | €29,864 | €15,719 | -€14,145 | -47.4% |
| Deferred charges and accrued income | 490/1 | €1,543 | €1,617 | +€74 | +4.8% |
| Total equity and liabilities | 10/49 | €2,506,861 | €2,485,702 | -€21,160 | -0.8% |
| Equity | 10/15 | €469,706 | €747,827 | +€278,120 | +59.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €729,277 | +€727,422 | +39,214% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,855 | €729,277 | +€727,422 | +39,214% |
| Profit (loss) carried forward | 14 | €449,301 | €0 | -€449,301 | -100% |
| Amounts payable | 17/49 | €2,037,155 | €1,737,875 | -€299,280 | -14.7% |
| Amounts payable after more than one year | 17 | €1,711,941 | €1,466,666 | -€245,276 | -14.3% |
| Financial debts | 170/4 | €1,711,941 | €1,466,666 | -€245,276 | -14.3% |
| Amounts payable within one year | 42/48 | €315,839 | €263,399 | -€52,439 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €243,707 | €245,276 | +€1,569 | +0.6% |
| Trade debts | 44 | €7,246 | €3,721 | -€3,525 | -48.6% |
| Suppliers | 440/4 | €7,246 | €3,721 | -€3,525 | -48.6% |
| Taxes, remuneration and social security | 45 | €17,451 | €13,862 | -€3,589 | -20.6% |
| Taxes | 450/3 | €17,451 | €13,862 | -€3,589 | -20.6% |
| Other amounts payable | 47/48 | €47,435 | €540 | -€46,895 | -98.9% |
| Accrued charges and deferred income | 492/3 | €9,375 | €7,810 | -€1,565 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,480 | €18,570 | -€3,910 | -17.4% |
| Other operating charges | 640/8 | €2,781 | €4,445 | +€1,664 | +59.8% |
| Gross operating margin | 9900 | €218,253 | €187,420 | -€30,832 | -14.1% |
| Operating profit (loss) | 9901 | €192,992 | €164,405 | -€28,587 | -14.8% |
| Financial income | 75/76B | €65,028 | €200,148 | +€135,120 | +208% |
| Recurring financial income | 75 | €65,028 | €200,148 | +€135,120 | +208% |
| Financial charges | 65/66B | €57,314 | €63,554 | +€6,240 | +10.9% |
| Recurring financial charges | 65 | €57,314 | €63,554 | +€6,240 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €200,705 | €300,999 | +€100,293 | +50.0% |
| Income taxes | 67/77 | €32,833 | €22,879 | -€9,954 | -30.3% |
| Profit (loss) for the period | 9904 | €167,873 | €278,120 | +€110,247 | +65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €167,873 | €278,120 | +€110,247 | +65.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.