MONTBLEU: 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.
MONTBLEU
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€55,327
up €55,327 (+35.1%), from €157,852 to €213,179
- Debts after one year -€40,031
down €40,031 (-11.0%), from €364,163 to €324,132
of which Financial debts: -€36,698
- Accrued charges and deferred income -€15,770
down €15,770 (-66.8%), from €23,605 to €7,834
- Current portion of long-term debt +€8,932
up €8,932 (+21.7%), from €41,099 to €50,031
- Gross operating margin +€4,594
up €4,594 (+10.4%), from €44,195 to €48,789
- Depreciation +€2,033
up €2,033 (+7.1%), from €28,760 to €30,793
- Financial income +€1,382
up €1,382 (+127%), from €1,085 to €2,466
of which Financial income: +€1,382
- Financial charges +€1,338
up €1,338 (+8.1%), from €16,484 to €17,823
- Other operating charges +€750
up €750 (+26.4%), from €2,839 to €3,589
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 | €605,714 | €613,454 | +€7,740 | +1.3% |
| Fixed assets | 21/28 | €558,106 | €564,385 | +€6,279 | +1.1% |
| Tangible fixed assets | 22/27 | €538,106 | €544,125 | +€6,019 | +1.1% |
| Land and buildings | 22 | €532,415 | €527,753 | -€4,662 | -0.9% |
| Furniture and vehicles | 24 | €5,690 | €16,372 | +€10,682 | +188% |
| Financial fixed assets | 28 | €20,000 | €20,260 | +€260 | +1.3% |
| Current assets | 29/58 | €47,608 | €49,069 | +€1,461 | +3.1% |
| Amounts receivable within one year | 40/41 | €44,555 | €46,148 | +€1,593 | +3.6% |
| Trade receivables | 40 | €32,405 | €25,246 | -€7,158 | -22.1% |
| Other amounts receivable | 41 | €12,151 | €20,902 | +€8,751 | +72.0% |
| Cash at bank and in hand | 54/58 | €1,089 | €461 | -€628 | -57.7% |
| Deferred charges and accrued income | 490/1 | €1,964 | €2,460 | +€496 | +25.3% |
| Total equity and liabilities | 10/49 | €605,714 | €613,454 | +€7,740 | +1.3% |
| Equity | 10/15 | €6,224 | €4,675 | -€1,549 | -24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,083 | €22,083 | = | 0.0% |
| Distributable reserves | 133 | €22,083 | €22,083 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,109 | -€40,057 | -€949 | -2.4% |
| Investment grants | 15 | €4,650 | €4,050 | -€600 | -12.9% |
| Amounts payable | 17/49 | €599,489 | €608,778 | +€9,289 | +1.5% |
| Amounts payable after more than one year | 17 | €364,163 | €324,132 | -€40,031 | -11.0% |
| Financial debts | 170/4 | €265,830 | €229,132 | -€36,698 | -13.8% |
| Trade debts | 175 | €98,333 | €95,000 | -€3,333 | -3.4% |
| Amounts payable within one year | 42/48 | €211,722 | €276,812 | +€65,090 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €41,099 | €50,031 | +€8,932 | +21.7% |
| Financial debts | 43 | €2,485 | €2,383 | -€102 | -4.1% |
| Credit institutions | 430/8 | €2,485 | €2,383 | -€102 | -4.1% |
| Trade debts | 44 | €8,637 | €11,220 | +€2,583 | +29.9% |
| Suppliers | 440/4 | €8,637 | €11,220 | +€2,583 | +29.9% |
| Taxes, remuneration and social security | 45 | €1,650 | €0 | -€1,650 | -100% |
| Taxes | 450/3 | €1,650 | €0 | -€1,650 | -100% |
| Other amounts payable | 47/48 | €157,852 | €213,179 | +€55,327 | +35.1% |
| Accrued charges and deferred income | 492/3 | €23,605 | €7,834 | -€15,770 | -66.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,760 | €30,793 | +€2,033 | +7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,839 | €3,589 | +€750 | +26.4% |
| Non-recurring operating charges | 66A | €91 | €0 | -€91 | -100% |
| Gross operating margin | 9900 | €44,195 | €48,789 | +€4,594 | +10.4% |
| Operating profit (loss) | 9901 | €12,506 | €14,408 | +€1,902 | +15.2% |
| Financial income | 75/76B | €1,085 | €2,466 | +€1,382 | +127% |
| Recurring financial income | 75 | €1,085 | €2,466 | +€1,382 | +127% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €16,484 | €17,823 | +€1,338 | +8.1% |
| Recurring financial charges | 65 | €16,484 | €17,823 | +€1,338 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,894 | -€949 | +€1,945 | +67.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,894 | -€949 | +€1,945 | +67.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,894 | -€949 | +€1,945 | +67.2% |
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 13 October 2026 via checked.be.