MONTIVATION: 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.
MONTIVATION
Largest movements
- Current investments -€154,540
down €154,540 (-19.0%), from €812,358 to €657,818
- Tangible fixed assets +€72,475
up €72,475 (+229.0%), from €31,647 to €104,122
of which Furniture and vehicles: +€72,653
- Other debts -€107,647
down €107,647 (-96.9%), from €111,128 to €3,481
- Gross operating margin -€326,493
down €326,493 (-98.9%), from €330,281 to €3,788
- Taxes -€66,656
down €66,656 (-97.1%), from €68,642 to €1,986
- Depreciation -€10,462
down €10,462 (-65.9%), from €15,877 to €5,415
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 | €885,973 | €784,894 | -€101,079 | -11.4% |
| Fixed assets | 21/28 | €31,647 | €104,122 | +€72,475 | +229.0% |
| Tangible fixed assets | 22/27 | €31,647 | €104,122 | +€72,475 | +229.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €178 | €0 | -€178 | -100.0% |
| Furniture and vehicles | 24 | €31,469 | €104,122 | +€72,653 | +230.9% |
| Current assets | 29/58 | €854,326 | €680,772 | -€173,554 | -20.3% |
| Amounts receivable within one year | 40/41 | €22,378 | €13,752 | -€8,626 | -38.5% |
| Trade receivables | 40 | €9,680 | €9,772 | +€92 | +0.9% |
| Other amounts receivable | 41 | €12,698 | €3,980 | -€8,718 | -68.7% |
| Current investments | 50/53 | €812,358 | €657,818 | -€154,540 | -19.0% |
| Cash at bank and in hand | 54/58 | €11,968 | €7,834 | -€4,134 | -34.5% |
| Deferred charges and accrued income | 490/1 | €7,621 | €1,368 | -€6,253 | -82.0% |
| Total equity and liabilities | 10/49 | €885,973 | €784,894 | -€101,079 | -11.4% |
| Equity | 10/15 | €769,848 | €773,930 | +€4,082 | +0.5% |
| Contributions | 10/11 | €445,254 | €445,254 | = | 0.0% |
| Reserves | 13 | €304,594 | €308,676 | +€4,082 | +1.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €304,594 | €308,676 | +€4,082 | +1.3% |
| Profit (loss) carried forward | 14 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable | 17/49 | €116,125 | €10,964 | -€105,161 | -90.6% |
| Amounts payable within one year | 42/48 | €112,371 | €5,896 | -€106,475 | -94.8% |
| Trade debts | 44 | €26 | €38 | +€12 | +47.0% |
| Suppliers | 440/4 | €26 | €38 | +€12 | +47.0% |
| Taxes, remuneration and social security | 45 | €1,217 | €2,377 | +€1,160 | +95.3% |
| Taxes | 450/3 | €1,217 | €2,377 | +€1,160 | +95.3% |
| Other amounts payable | 47/48 | €111,128 | €3,481 | -€107,647 | -96.9% |
| Accrued charges and deferred income | 492/3 | €3,754 | €5,068 | +€1,314 | +35.0% |
| Non-recurring operating income | 76A | €364,439 | €12,206 | -€352,233 | -96.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,877 | €5,415 | -€10,462 | -65.9% |
| Other operating charges | 640/8 | €1,508 | €1,286 | -€222 | -14.7% |
| Gross operating margin | 9900 | €330,281 | €3,788 | -€326,493 | -98.9% |
| Operating profit (loss) | 9901 | €312,896 | -€2,913 | -€315,809 | |
| Financial income | 75/76B | €11,283 | €13,784 | +€2,502 | +22.2% |
| Recurring financial income | 75 | €11,283 | €13,784 | +€2,502 | +22.2% |
| Financial charges | 65/66B | €3,820 | €4,804 | +€983 | +25.7% |
| Recurring financial charges | 65 | €3,820 | €4,804 | +€983 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €320,358 | €6,068 | -€314,291 | -98.1% |
| Income taxes | 67/77 | €68,642 | €1,986 | -€66,656 | -97.1% |
| Profit (loss) for the period | 9904 | €251,717 | €4,082 | -€247,635 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €251,717 | €4,082 | -€247,635 | -98.4% |
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 11 October 2026 via checked.be.