MONTERSA: 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.
MONTERSA
Largest movements
- Receivables within one year -€79,618
no longer reported in 2025 (was €79,618)
of which Trade receivables: -€54,249
- Tangible fixed assets -€39,928
down €39,928 (-5.8%), from €683,764 to €643,836
of which Plant, machinery and equipment: -€40,625
- Cash +€14,718
up €14,718 (+779%), from €1,888 to €16,606
mainly Depreciation (+€96,931) and Receivables within one year (+€79,618)
- Profit (loss) carried forward -€113,532
down €113,532, from €75,985 to -€37,547
- Other debts +€56,773
new in 2025: €56,773
- Debts after one year -€55,761
down €55,761 (-18.8%), from €296,283 to €240,522
- Gross operating margin -€138,145
down €138,145 (-81.1%), from €170,289 to €32,144
- Financial income -€26,108
down €26,108 (-98.4%), from €26,519 to €411
of which Financial income: -€19,650
- Taxes +€25,500
no longer reported in 2025 (was -€25,500)
- Staff costs +€11,096
up €11,096 (+49.4%), from €22,467 to €33,563
- Other operating charges -€1,776
down €1,776 (-41.3%), from €4,299 to €2,523
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 | €765,270 | €660,442 | -€104,829 | -13.7% |
| Fixed assets | 21/28 | €683,764 | €643,836 | -€39,928 | -5.8% |
| Tangible fixed assets | 22/27 | €683,764 | €643,836 | -€39,928 | -5.8% |
| Land and buildings | 22 | €441,613 | €447,785 | +€6,172 | +1.4% |
| Plant, machinery and equipment | 23 | €207,703 | €167,078 | -€40,625 | -19.6% |
| Furniture and vehicles | 24 | €34,448 | €28,973 | -€5,475 | -15.9% |
| Current assets | 29/58 | €81,506 | €16,606 | -€64,900 | -79.6% |
| Amounts receivable within one year | 40/41 | €79,618 | - | -€79,618 | |
| Trade receivables | 40 | €54,249 | - | -€54,249 | |
| Other amounts receivable | 41 | €25,370 | - | -€25,370 | |
| Cash at bank and in hand | 54/58 | €1,888 | €16,606 | +€14,718 | +779% |
| Total equity and liabilities | 10/49 | €765,270 | €660,442 | -€104,829 | -13.7% |
| Equity | 10/15 | €387,372 | €273,840 | -€113,532 | -29.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Capital | 10 | €2,000 | €2,000 | = | 0.0% |
| Issued capital | 100 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €309,387 | €309,387 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | - | -€200 | |
| Legal reserve | 130 | €200 | - | -€200 | |
| Tax-exempt reserves | 132 | €309,187 | - | -€309,187 | |
| Distributable reserves | 133 | - | €309,387 | +€309,387 | |
| Profit (loss) carried forward | 14 | €75,985 | -€37,547 | -€113,532 | |
| Amounts payable | 17/49 | €377,898 | €386,602 | +€8,704 | +2.3% |
| Amounts payable after more than one year | 17 | €296,283 | €240,522 | -€55,761 | -18.8% |
| Financial debts | 170/4 | €296,283 | €240,522 | -€55,761 | -18.8% |
| Amounts payable within one year | 42/48 | €80,083 | €139,024 | +€58,941 | +73.6% |
| Current portion of amounts payable after more than one year | 42 | €56,740 | €55,761 | -€979 | -1.7% |
| Trade debts | 44 | €8,847 | €5,855 | -€2,993 | -33.8% |
| Suppliers | 440/4 | €8,847 | €5,855 | -€2,993 | -33.8% |
| Taxes, remuneration and social security | 45 | €14,496 | €20,636 | +€6,139 | +42.4% |
| Taxes | 450/3 | €9,647 | €17,187 | +€7,540 | +78.2% |
| Remuneration and social security | 454/9 | €4,850 | €3,449 | -€1,401 | -28.9% |
| Other amounts payable | 47/48 | - | €56,773 | +€56,773 | |
| Accrued charges and deferred income | 492/3 | €1,532 | €7,056 | +€5,524 | +361% |
| Remuneration, social security and pensions | 62 | €22,467 | €33,563 | +€11,096 | +49.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,669 | €96,931 | +€262 | +0.3% |
| Other operating charges | 640/8 | €4,299 | €2,523 | -€1,776 | -41.3% |
| Gross operating margin | 9900 | €170,289 | €32,144 | -€138,145 | -81.1% |
| Operating profit (loss) | 9901 | €46,855 | -€100,874 | -€147,728 | |
| Financial income | 75/76B | €26,519 | €411 | -€26,108 | -98.4% |
| Recurring financial income | 75 | €20,061 | €411 | -€19,650 | -98.0% |
| Non-recurring financial income | 76B | €6,458 | - | -€6,458 | |
| Financial charges | 65/66B | €12,189 | €13,070 | +€881 | +7.2% |
| Recurring financial charges | 65 | €12,189 | €13,070 | +€881 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €61,185 | -€113,532 | -€174,717 | |
| Income taxes | 67/77 | -€25,500 | - | +€25,500 | |
| Profit (loss) for the period | 9904 | €86,685 | -€113,532 | -€200,218 | |
| Transfer from tax-exempt reserves | 789 | - | €309,187 | +€309,187 | |
| Transfer to tax-exempt reserves | 689 | €29,470 | - | -€29,470 | |
| Profit (loss) for the period to be appropriated | 9905 | €57,215 | €195,655 | +€138,439 | +242% |
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 31 October 2026 via checked.be.