MONTELIMAX: 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.
MONTELIMAX
Largest movements
- Tangible fixed assets +€169,653
up €169,653 (+845%), from €20,075 to €189,728
of which Other tangible fixed assets: +€101,948
- Cash +€14,213
up €14,213 (+295%), from €4,821 to €19,034
mainly Debts after one year (+€175,000) and Advances received (+€16,588)
- Deferred charges and accrued income -€5,356
down €5,356 (-85.9%), from €6,237 to €881
- Receivables within one year +€4,594
up €4,594 (+8,736%), from €53 to €4,647
of which Trade receivables: +€4,538
- Debts after one year +€175,000
new in 2025: €175,000
- Profit (loss) carried forward -€19,971
down €19,971 (-53.1%), from -€37,617 to -€57,588
- Advances received +€16,588
up €16,588, from €0 to €16,588
- Tax, wage and social debts +€11,234
up €11,234 (+324%), from €3,472 to €14,706
- Write-downs -€21,250
down €21,250 (-100%), from €21,250 to €0
- Depreciation +€3,968
up €3,968 (+71.1%), from €5,585 to €9,553
- Gross operating margin -€2,106
down €2,106 (-43.2%), from -€4,875 to -€6,981
- Taxes -€1,463
down €1,463 (-91.4%), from €1,601 to €138
- Financial charges +€1,051
up €1,051 (+80.3%), from €1,309 to €2,360
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 | €32,934 | €215,639 | +€182,704 | +555% |
| Fixed assets | 21/28 | €21,824 | €191,077 | +€169,253 | +776% |
| Intangible fixed assets | 21 | €1,749 | €1,349 | -€400 | -22.9% |
| Tangible fixed assets | 22/27 | €20,075 | €189,728 | +€169,653 | +845% |
| Plant, machinery and equipment | 23 | €5,664 | €5,153 | -€510 | -9.0% |
| Furniture and vehicles | 24 | €3,025 | €71,240 | +€68,215 | +2,255% |
| Other tangible fixed assets | 26 | €11,387 | €113,335 | +€101,948 | +895% |
| Current assets | 29/58 | €11,111 | €24,562 | +€13,451 | +121% |
| Amounts receivable within one year | 40/41 | €53 | €4,647 | +€4,594 | +8,736% |
| Trade receivables | 40 | €0 | €4,538 | +€4,538 | |
| Other amounts receivable | 41 | €53 | €109 | +€57 | +108% |
| Cash at bank and in hand | 54/58 | €4,821 | €19,034 | +€14,213 | +295% |
| Deferred charges and accrued income | 490/1 | €6,237 | €881 | -€5,356 | -85.9% |
| Total equity and liabilities | 10/49 | €32,934 | €215,639 | +€182,704 | +555% |
| Equity | 10/15 | -€19,017 | -€38,988 | -€19,971 | -105% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,617 | -€57,588 | -€19,971 | -53.1% |
| Amounts payable | 17/49 | €51,951 | €254,627 | +€202,675 | +390% |
| Amounts payable after more than one year | 17 | - | €175,000 | +€175,000 | |
| Financial debts | 170/4 | - | €175,000 | +€175,000 | |
| Amounts payable within one year | 42/48 | €51,100 | €78,052 | +€26,952 | +52.7% |
| Trade debts | 44 | €1,722 | €2,595 | +€873 | +50.7% |
| Suppliers | 440/4 | €1,722 | €2,595 | +€873 | +50.7% |
| Advances received on contracts in progress | 46 | €0 | €16,588 | +€16,588 | |
| Taxes, remuneration and social security | 45 | €3,472 | €14,706 | +€11,234 | +324% |
| Taxes | 450/3 | €3,472 | €14,706 | +€11,234 | +324% |
| Other amounts payable | 47/48 | €45,906 | €44,163 | -€1,743 | -3.8% |
| Accrued charges and deferred income | 492/3 | €851 | €1,575 | +€724 | +85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,585 | €9,553 | +€3,968 | +71.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,250 | €0 | -€21,250 | -100% |
| Other operating charges | 640/8 | €1,730 | €1,003 | -€728 | -42.1% |
| Gross operating margin | 9900 | -€4,875 | -€6,981 | -€2,106 | -43.2% |
| Operating profit (loss) | 9901 | -€33,440 | -€17,536 | +€15,904 | +47.6% |
| Financial income | 75/76B | €38 | €63 | +€25 | +66.7% |
| Recurring financial income | 75 | €38 | €63 | +€25 | +66.7% |
| Financial charges | 65/66B | €1,309 | €2,360 | +€1,051 | +80.3% |
| Recurring financial charges | 65 | €1,309 | €2,360 | +€1,051 | +80.3% |
| Profit (loss) for the period before taxes | 9903 | -€34,710 | -€19,833 | +€14,878 | +42.9% |
| Income taxes | 67/77 | €1,601 | €138 | -€1,463 | -91.4% |
| Profit (loss) for the period | 9904 | -€36,312 | -€19,971 | +€16,341 | +45.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,312 | -€19,971 | +€16,341 | +45.0% |
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 26 October 2026 via checked.be.