MONTECH: what changed
Two fiscal 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.
MONTECH
Largest movements
- Stocks and contracts +€2.0m
up €2.0m (+456.1%), from €440,000 to €2.4m
- Current investments +€1.7m
up €1.7m (+210.8%), from €804,250 to €2.5m
- Cash -€1.6m
down €1.6m (-41.3%), from €3.9m to €2.3m
mainly Stocks and contracts (-€2.0m) and Current investments (-€1.7m)
- Receivables within one year +€232,951
up €232,951 (+15.9%), from €1.5m to €1.7m
of which Trade receivables: +€123,565
- Advances received +€1.5m
up €1.5m (+352.5%), from €417,409 to €1.9m
- Reserves +€1.2m
up €1.2m (+19.9%), from €5.9m to €7.1m
of which Distributable reserves: +€817,341
- Trade debts -€560,069
down €560,069 (-37.8%), from €1.5m to €921,301
- Provisions +€317,777
up €317,777 (+49.2%), from €645,969 to €963,746
- Staff costs +€724,770
up €724,770 (+32.1%), from €2.3m to €3.0m
- Gross operating margin +€533,906
up €533,906 (+10.9%), from €4.9m to €5.4m
- Provisions +€317,777
new in 2025: €317,777
- Taxes -€215,411
down €215,411 (-30.2%), from €713,222 to €497,811
- Other operating charges +€99,671
up €99,671 (+341.7%), from €29,167 to €128,837
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 | €8,966,887 | €11,348,710 | +€2.4m | +26.6% |
| Fixed assets | 21/28 | €2,322,494 | €2,405,038 | +€82,544 | +3.6% |
| Tangible fixed assets | 22/27 | €1,497,494 | €1,580,038 | +€82,544 | +5.5% |
| Land and buildings | 22 | €1,025,937 | €930,647 | -€95,290 | -9.3% |
| Plant, machinery and equipment | 23 | €24,126 | €97,338 | +€73,212 | +303.5% |
| Furniture and vehicles | 24 | €447,431 | €552,053 | +€104,622 | +23.4% |
| Financial fixed assets | 28 | €825,000 | €825,000 | = | 0.0% |
| Current assets | 29/58 | €6,644,393 | €8,943,671 | +€2.3m | +34.6% |
| Stocks and contracts in progress | 3 | €440,000 | €2,446,858 | +€2.0m | +456.1% |
| Stocks | 30/36 | €440,000 | €2,446,858 | +€2.0m | +456.1% |
| Amounts receivable within one year | 40/41 | €1,466,365 | €1,699,316 | +€232,951 | +15.9% |
| Trade receivables | 40 | €876,706 | €1,000,271 | +€123,565 | +14.1% |
| Other amounts receivable | 41 | €589,659 | €699,045 | +€109,386 | +18.6% |
| Current investments | 50/53 | €804,250 | €2,500,000 | +€1.7m | +210.8% |
| Cash at bank and in hand | 54/58 | €3,913,484 | €2,297,497 | -€1.6m | -41.3% |
| Deferred charges and accrued income | 490/1 | €20,294 | - | -€20,294 | |
| Total equity and liabilities | 10/49 | €8,966,887 | €11,348,710 | +€2.4m | +26.6% |
| Equity | 10/15 | €5,938,795 | €7,115,825 | +€1.2m | +19.8% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €5,914,005 | €7,091,036 | +€1.2m | +19.9% |
| Non-distributable reserves | 130/1 | €1,637 | €1,637 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,637 | €1,637 | = | 0.0% |
| Tax-exempt reserves | 132 | €867,000 | €1,226,689 | +€359,689 | +41.5% |
| Distributable reserves | 133 | €5,045,368 | €5,862,709 | +€817,341 | +16.2% |
| Provisions and deferred taxes | 16 | €645,969 | €963,746 | +€317,777 | +49.2% |
| Provisions for liabilities and charges | 160/5 | €645,969 | €963,746 | +€317,777 | +49.2% |
| Taxes | 161 | - | €406,840 | +€406,840 | |
| Environmental obligations | 163 | €645,969 | €556,906 | -€89,063 | -13.8% |
| Amounts payable | 17/49 | €2,382,123 | €3,269,138 | +€887,015 | +37.2% |
| Amounts payable after more than one year | 17 | €128,355 | €58,957 | -€69,398 | -54.1% |
| Financial debts | 170/4 | €128,355 | €58,957 | -€69,398 | -54.1% |
| Amounts payable within one year | 42/48 | €2,253,768 | €3,210,181 | +€956,413 | +42.4% |
| Current portion of amounts payable after more than one year | 42 | €68,130 | €69,398 | +€1,268 | +1.9% |
| Trade debts | 44 | €1,481,370 | €921,301 | -€560,069 | -37.8% |
| Suppliers | 440/4 | €1,481,370 | €921,301 | -€560,069 | -37.8% |
| Advances received on contracts in progress | 46 | €417,409 | €1,888,714 | +€1.5m | +352.5% |
| Taxes, remuneration and social security | 45 | €249,776 | €292,456 | +€42,679 | +17.1% |
| Remuneration and social security | 454/9 | €249,776 | €292,456 | +€42,679 | +17.1% |
| Other amounts payable | 47/48 | €37,082 | €38,312 | +€1,230 | +3.3% |
| Remuneration, social security and pensions | 62 | €2,254,772 | €2,979,542 | +€724,770 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,332 | €333,436 | +€46,103 | +16.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €317,777 | +€317,777 | |
| Other operating charges | 640/8 | €29,167 | €128,837 | +€99,671 | +341.7% |
| Gross operating margin | 9900 | €4,886,987 | €5,420,892 | +€533,906 | +10.9% |
| Operating profit (loss) | 9901 | €2,315,716 | €1,661,301 | -€654,415 | -28.3% |
| Financial income | 75/76B | €12,557 | €28,500 | +€15,943 | +127.0% |
| Recurring financial income | 75 | €12,557 | €28,500 | +€15,943 | +127.0% |
| Financial charges | 65/66B | €15,832 | €13,159 | -€2,673 | -16.9% |
| Recurring financial charges | 65 | €15,832 | €13,159 | -€2,673 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €2,312,440 | €1,676,642 | -€635,799 | -27.5% |
| Income taxes | 67/77 | €713,222 | €497,811 | -€215,411 | -30.2% |
| Profit (loss) for the period | 9904 | €1,599,218 | €1,178,831 | -€420,388 | -26.3% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €421,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,178,218 | €757,831 | -€420,388 | -35.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.