MONTEFIORE DEVELOPMENT: 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.
MONTEFIORE DEVELOPMENT
Largest movements
- Current investments +€14.0m
up €14.0m (+400.0%), from €3.5m to €17.5m
- Receivables within one year -€3.7m
down €3.7m (-47.6%), from €7.7m to €4.0m
of which Trade receivables: -€2.3m
- Cash +€3.6m
up €3.6m (+437.5%), from €830,133 to €4.5m
mainly Advances received (+€13.8m) and Receivables within one year (+€3.7m)
- Tangible fixed assets +€616,126
new in 2025: €616,126
- Advances received +€13.8m
up €13.8m (+145.5%), from €9.5m to €23.3m
- Trade debts +€395,521
up €395,521 (+22.3%), from €1.8m to €2.2m
- Financial income +€134,786
up €134,786 (+64.9%), from €207,658 to €342,444
- Other operating charges -€71,142
down €71,142 (-85.8%), from €82,873 to €11,731
- Taxes +€50,026
up €50,026 (+179.6%), from €27,849 to €77,876
- Gross operating margin -€3,867
down €3,867 (-71.4%), from €5,414 to €1,547
- Financial charges -€808
down €808 (-3.8%), from €21,370 to €20,562
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 | €12,031,944 | €26,648,332 | +€14.6m | +121.5% |
| Fixed assets | 21/28 | - | €616,126 | +€616,126 | |
| Tangible fixed assets | 22/27 | - | €616,126 | +€616,126 | |
| Assets under construction and advance payments | 27 | - | €616,126 | +€616,126 | |
| Current assets | 29/58 | €12,031,944 | €26,032,206 | +€14.0m | +116.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Contracts in progress | 37 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €7,698,998 | €4,031,847 | -€3.7m | -47.6% |
| Trade receivables | 40 | €2,611,889 | €269,329 | -€2.3m | -89.7% |
| Other amounts receivable | 41 | €5,087,109 | €3,762,518 | -€1.3m | -26.0% |
| Current investments | 50/53 | €3,500,000 | €17,500,000 | +€14.0m | +400.0% |
| Cash at bank and in hand | 54/58 | €830,133 | €4,462,159 | +€3.6m | +437.5% |
| Deferred charges and accrued income | 490/1 | €2,814 | €38,200 | +€35,386 | +1257.6% |
| Total equity and liabilities | 10/49 | €12,031,944 | €26,648,332 | +€14.6m | +121.5% |
| Equity | 10/15 | €382,360 | €616,182 | +€233,822 | +61.2% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €4,118 | €15,809 | +€11,691 | +283.9% |
| Non-distributable reserves | 130/1 | €4,118 | €15,809 | +€11,691 | +283.9% |
| Legal reserve | 130 | €4,118 | €15,809 | +€11,691 | +283.9% |
| Profit (loss) carried forward | 14 | €78,242 | €300,373 | +€222,131 | +283.9% |
| Amounts payable | 17/49 | €11,649,585 | €26,032,150 | +€14.4m | +123.5% |
| Amounts payable within one year | 42/48 | €11,649,585 | €26,032,150 | +€14.4m | +123.5% |
| Trade debts | 44 | €1,770,749 | €2,166,271 | +€395,521 | +22.3% |
| Suppliers | 440/4 | €1,770,749 | €2,166,271 | +€395,521 | +22.3% |
| Advances received on contracts in progress | 46 | €9,504,546 | €23,337,254 | +€13.8m | +145.5% |
| Taxes, remuneration and social security | 45 | €374,289 | €528,625 | +€154,336 | +41.2% |
| Taxes | 450/3 | €374,289 | €528,625 | +€154,336 | +41.2% |
| Other operating charges | 640/8 | €82,873 | €11,731 | -€71,142 | -85.8% |
| Gross operating margin | 9900 | €5,414 | €1,547 | -€3,867 | -71.4% |
| Operating profit (loss) | 9901 | -€77,459 | -€10,184 | +€67,275 | +86.9% |
| Financial income | 75/76B | €207,658 | €342,444 | +€134,786 | +64.9% |
| Recurring financial income | 75 | €207,658 | €342,444 | +€134,786 | +64.9% |
| Financial charges | 65/66B | €21,370 | €20,562 | -€808 | -3.8% |
| Recurring financial charges | 65 | €21,370 | €20,562 | -€808 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €108,829 | €311,698 | +€202,868 | +186.4% |
| Income taxes | 67/77 | €27,849 | €77,876 | +€50,026 | +179.6% |
| Profit (loss) for the period | 9904 | €80,980 | €233,822 | +€152,842 | +188.7% |
| Profit (loss) for the period to be appropriated | 9905 | €80,980 | €233,822 | +€152,842 | +188.7% |
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.