MONTENEGRO: 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.
MONTENEGRO
Largest movements
- Tangible fixed assets -€8,517
down €8,517 (-69.1%), from €12,323 to €3,806
of which Furniture and vehicles: -€8,232
- Receivables within one year +€7,466
up €7,466 (+42.1%), from €17,725 to €25,191
of which Trade receivables: +€11,428
- Stocks and contracts -€5,078
down €5,078 (-89.0%), from €5,708 to €630
- Advances received +€30,965
up €30,965 (+102%), from €30,451 to €61,415
- Profit (loss) carried forward -€29,808
down €29,808, from €10,250 to -€19,558
- Tax, wage and social debts -€10,984
down €10,984 (-75.2%), from €14,609 to €3,626
of which Remuneration and social security: -€6,425
- Trade debts +€3,762
up €3,762 (+46.6%), from €8,077 to €11,840
- Gross operating margin -€34,567
down €34,567, from €23,479 to -€11,088
- Other operating charges -€2,706
down €2,706 (-54.9%), from €4,928 to €2,222
- Staff costs -€465
down €465 (-6.3%), from €7,345 to €6,880
- Financial charges +€305
up €305 (+123%), from €248 to €553
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €127,268 | €120,458 | -€6,811 | -5.4% |
| Fixed assets | 21/28 | €15,149 | €6,632 | -€8,517 | -56.2% |
| Tangible fixed assets | 22/27 | €12,323 | €3,806 | -€8,517 | -69.1% |
| Plant, machinery and equipment | 23 | €857 | €572 | -€286 | -33.3% |
| Furniture and vehicles | 24 | €11,466 | €3,234 | -€8,232 | -71.8% |
| Financial fixed assets | 28 | €2,826 | €2,826 | = | 0.0% |
| Current assets | 29/58 | €112,119 | €113,826 | +€1,707 | +1.5% |
| Stocks and contracts in progress | 3 | €5,708 | €630 | -€5,078 | -89.0% |
| Stocks | 30/36 | €5,708 | €630 | -€5,078 | -89.0% |
| Amounts receivable within one year | 40/41 | €17,725 | €25,191 | +€7,466 | +42.1% |
| Trade receivables | 40 | €13,763 | €25,191 | +€11,428 | +83.0% |
| Other amounts receivable | 41 | €3,962 | - | -€3,962 | |
| Cash at bank and in hand | 54/58 | €88,686 | €88,005 | -€681 | -0.8% |
| Total equity and liabilities | 10/49 | €127,268 | €120,458 | -€6,811 | -5.4% |
| Equity | 10/15 | €73,029 | €43,221 | -€29,808 | -40.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,180 | €44,180 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,570 | €6,570 | = | 0.0% |
| Distributable reserves | 133 | €35,750 | €35,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,250 | -€19,558 | -€29,808 | |
| Amounts payable | 17/49 | €54,239 | €77,237 | +€22,997 | +42.4% |
| Amounts payable after more than one year | 17 | €1,102 | - | -€1,102 | |
| Financial debts | 170/4 | €1,102 | - | -€1,102 | |
| Amounts payable within one year | 42/48 | €53,137 | €77,237 | +€24,099 | +45.4% |
| Trade debts | 44 | €8,077 | €11,840 | +€3,762 | +46.6% |
| Suppliers | 440/4 | €8,077 | €11,840 | +€3,762 | +46.6% |
| Advances received on contracts in progress | 46 | €30,451 | €61,415 | +€30,965 | +102% |
| Taxes, remuneration and social security | 45 | €14,609 | €3,626 | -€10,984 | -75.2% |
| Taxes | 450/3 | €8,185 | €3,626 | -€4,559 | -55.7% |
| Remuneration and social security | 454/9 | €6,425 | - | -€6,425 | |
| Other amounts payable | 47/48 | - | €356 | +€356 | |
| Remuneration, social security and pensions | 62 | €7,345 | €6,880 | -€465 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,517 | €8,517 | = | 0.0% |
| Other operating charges | 640/8 | €4,928 | €2,222 | -€2,706 | -54.9% |
| Gross operating margin | 9900 | €23,479 | -€11,088 | -€34,567 | |
| Operating profit (loss) | 9901 | €2,689 | -€28,707 | -€31,396 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €248 | €553 | +€305 | +123% |
| Recurring financial charges | 65 | €248 | €553 | +€305 | +123% |
| Profit (loss) for the period before taxes | 9903 | €2,441 | -€29,260 | -€31,701 | |
| Income taxes | 67/77 | €663 | €548 | -€115 | -17.4% |
| Profit (loss) for the period | 9904 | €1,778 | -€29,808 | -€31,586 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,778 | -€29,808 | -€31,586 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.