MontiNefro: what changed
Two fiscal 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.
MontiNefro
Largest movements
- Current investments +€1.0m
up €1.0m (+538.1%), from €195,000 to €1.2m
- Cash -€879,924
down €879,924 (-60.3%), from €1.5m to €579,259
mainly Current investments (-€1.0m) and Contributions, distributions and other (-€266,380)
- Reserves +€106,552
up €106,552 (+7.1%), from €1.5m to €1.6m
of which Tax-exempt reserves: +€63,150
- Tax, wage and social debts +€26,851
up €26,851 (+68.7%), from €39,081 to €65,932
- Other debts +€25,269
up €25,269 (+10.7%), from €235,395 to €260,665
- Financial income +€9,408
up €9,408 (+131.9%), from €7,133 to €16,541
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 | €1,797,576 | €1,956,426 | +€158,850 | +8.8% |
| Fixed assets | 21/28 | €54,844 | €40,544 | -€14,300 | -26.1% |
| Tangible fixed assets | 22/27 | €54,844 | €40,544 | -€14,300 | -26.1% |
| Plant, machinery and equipment | 23 | €730 | €575 | -€155 | -21.3% |
| Furniture and vehicles | 24 | €47,351 | €34,559 | -€12,792 | -27.0% |
| Other tangible fixed assets | 26 | €6,763 | €5,410 | -€1,353 | -20.0% |
| Current assets | 29/58 | €1,742,732 | €1,915,882 | +€173,150 | +9.9% |
| Current investments | 50/53 | €195,000 | €1,244,267 | +€1.0m | +538.1% |
| Cash at bank and in hand | 54/58 | €1,459,182 | €579,259 | -€879,924 | -60.3% |
| Deferred charges and accrued income | 490/1 | €88,550 | €92,356 | +€3,807 | +4.3% |
| Total equity and liabilities | 10/49 | €1,797,576 | €1,956,426 | +€158,850 | +8.8% |
| Equity | 10/15 | €1,522,915 | €1,629,468 | +€106,552 | +7.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,510,515 | €1,617,068 | +€106,552 | +7.1% |
| 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 | €63,150 | €126,300 | +€63,150 | +100.0% |
| Distributable reserves | 133 | €1,445,505 | €1,488,908 | +€43,402 | +3.0% |
| Amounts payable | 17/49 | €274,661 | €326,958 | +€52,298 | +19.0% |
| Amounts payable within one year | 42/48 | €274,661 | €326,958 | +€52,298 | +19.0% |
| Trade debts | 44 | €184 | €361 | +€177 | +96.4% |
| Suppliers | 440/4 | €184 | €361 | +€177 | +96.4% |
| Taxes, remuneration and social security | 45 | €39,081 | €65,932 | +€26,851 | +68.7% |
| Taxes | 450/3 | €39,081 | €65,932 | +€26,851 | +68.7% |
| Other amounts payable | 47/48 | €235,395 | €260,665 | +€25,269 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,191 | €14,300 | +€109 | +0.8% |
| Other operating charges | 640/8 | €2,006 | €3,790 | +€1,784 | +88.9% |
| Gross operating margin | 9900 | €528,061 | €530,936 | +€2,875 | +0.5% |
| Operating profit (loss) | 9901 | €511,864 | €512,846 | +€982 | +0.2% |
| Financial income | 75/76B | €7,133 | €16,541 | +€9,408 | +131.9% |
| Recurring financial income | 75 | €7,133 | €16,541 | +€9,408 | +131.9% |
| Financial charges | 65/66B | €333 | €137 | -€196 | -58.8% |
| Recurring financial charges | 65 | €333 | €137 | -€196 | -58.8% |
| Profit (loss) for the period before taxes | 9903 | €518,663 | €529,250 | +€10,587 | +2.0% |
| Income taxes | 67/77 | €154,729 | €156,318 | +€1,589 | +1.0% |
| Profit (loss) for the period | 9904 | €363,934 | €372,932 | +€8,998 | +2.5% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €300,784 | €309,782 | +€8,998 | +3.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.