MONTENA: 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.
MONTENA
Largest movements
- Cash -€2,407
down €2,407 (-41.0%), from €5,876 to €3,469
mainly Debts after one year (-€11,478) and Current portion of long-term debt (-€2,411)
- Receivables within one year +€902
up €902 (+6.2%), from €14,487 to €15,389
of which Other amounts receivable: +€4,959
- Tangible fixed assets -€492
down €492 (-36.9%), from €1,335 to €843
- Deferred charges and accrued income +€461
up €461 (+212%), from €217 to €678
- Profit (loss) carried forward +€13,027
up €13,027, from -€9,710 to €3,317
- Debts after one year -€11,478
down €11,478 (-76.1%), from €15,085 to €3,608
- Current portion of long-term debt -€2,411
down €2,411 (-17.4%), from €13,888 to €11,478
- Tax, wage and social debts -€627
down €627 (-41.7%), from €1,504 to €877
of which Remuneration and social security: -€617
- Staff costs -€9,066
no longer reported in 2025 (was €9,066)
- Gross operating margin -€7,601
down €7,601 (-33.1%), from €22,934 to €15,333
- Financial charges -€1,015
down €1,015 (-53.4%), from €1,901 to €886
- Other operating charges -€837
down €837 (-47.4%), from €1,766 to €929
- Depreciation +€350
up €350 (+248%), from €142 to €492
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 | €21,915 | €20,379 | -€1,536 | -7.0% |
| Fixed assets | 21/28 | €1,335 | €843 | -€492 | -36.9% |
| Tangible fixed assets | 22/27 | €1,335 | €843 | -€492 | -36.9% |
| Furniture and vehicles | 24 | €1,335 | €843 | -€492 | -36.9% |
| Current assets | 29/58 | €20,580 | €19,536 | -€1,044 | -5.1% |
| Amounts receivable within one year | 40/41 | €14,487 | €15,389 | +€902 | +6.2% |
| Trade receivables | 40 | €14,487 | €10,430 | -€4,057 | -28.0% |
| Other amounts receivable | 41 | - | €4,959 | +€4,959 | |
| Cash at bank and in hand | 54/58 | €5,876 | €3,469 | -€2,407 | -41.0% |
| Deferred charges and accrued income | 490/1 | €217 | €678 | +€461 | +212% |
| Total equity and liabilities | 10/49 | €21,915 | €20,379 | -€1,536 | -7.0% |
| Equity | 10/15 | -€8,610 | €4,417 | +€13,027 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,710 | €3,317 | +€13,027 | |
| Amounts payable | 17/49 | €30,525 | €15,962 | -€14,563 | -47.7% |
| Amounts payable after more than one year | 17 | €15,085 | €3,608 | -€11,478 | -76.1% |
| Financial debts | 170/4 | €15,085 | €3,608 | -€11,478 | -76.1% |
| Amounts payable within one year | 42/48 | €15,439 | €12,355 | -€3,085 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €13,888 | €11,478 | -€2,411 | -17.4% |
| Taxes, remuneration and social security | 45 | €1,504 | €877 | -€627 | -41.7% |
| Taxes | 450/3 | €887 | €877 | -€10 | -1.1% |
| Remuneration and social security | 454/9 | €617 | - | -€617 | |
| Other amounts payable | 47/48 | €47 | - | -€47 | |
| Remuneration, social security and pensions | 62 | €9,066 | - | -€9,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142 | €492 | +€350 | +248% |
| Other operating charges | 640/8 | €1,766 | €929 | -€837 | -47.4% |
| Non-recurring operating charges | 66A | €10,809 | - | -€10,809 | |
| Gross operating margin | 9900 | €22,934 | €15,333 | -€7,601 | -33.1% |
| Operating profit (loss) | 9901 | €1,152 | €13,913 | +€12,761 | +1,108% |
| Financial charges | 65/66B | €1,901 | €886 | -€1,015 | -53.4% |
| Recurring financial charges | 65 | €1,901 | €886 | -€1,015 | -53.4% |
| Profit (loss) for the period before taxes | 9903 | -€749 | €13,027 | +€13,776 | |
| Profit (loss) for the period | 9904 | -€749 | €13,027 | +€13,776 | |
| Profit (loss) for the period to be appropriated | 9905 | -€749 | €13,027 | +€13,776 |
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 20 October 2026 via checked.be.