Montivec: 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.
Montivec
Largest movements
- Cash +€44,754
up €44,754 (+24.6%), from €181,849 to €226,603
mainly Other debts (+€199,735) and Net result for the year (+€64,604)
- Tangible fixed assets +€20,556
up €20,556 (+1,053%), from €1,953 to €22,509
- Receivables within one year +€3,598
up €3,598 (+11.8%), from €30,439 to €34,037
of which Other amounts receivable: +€3,086
- Other debts +€199,735
up €199,735 (+73,976%), from €270 to €200,005
- Reserves -€135,396
down €135,396 (-74.9%), from €180,882 to €45,486
- Tax, wage and social debts +€4,979
up €4,979 (+45.3%), from €11,000 to €15,979
of which Taxes: +€5,067
- Gross operating margin +€43,806
up €43,806 (+94.4%), from €46,420 to €90,226
- Taxes +€10,948
up €10,948 (+121%), from €9,078 to €20,026
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 | €214,563 | €283,435 | +€68,872 | +32.1% |
| Fixed assets | 21/28 | €2,239 | €22,795 | +€20,556 | +918% |
| Tangible fixed assets | 22/27 | €1,953 | €22,509 | +€20,556 | +1,053% |
| Furniture and vehicles | 24 | €1,953 | €22,509 | +€20,556 | +1,053% |
| Financial fixed assets | 28 | €286 | €286 | = | 0.0% |
| Current assets | 29/58 | €212,324 | €260,640 | +€48,316 | +22.8% |
| Amounts receivable within one year | 40/41 | €30,439 | €34,037 | +€3,598 | +11.8% |
| Trade receivables | 40 | €22,880 | €23,392 | +€512 | +2.2% |
| Other amounts receivable | 41 | €7,559 | €10,645 | +€3,086 | +40.8% |
| Cash at bank and in hand | 54/58 | €181,849 | €226,603 | +€44,754 | +24.6% |
| Deferred charges and accrued income | 490/1 | €36 | - | -€36 | |
| Total equity and liabilities | 10/49 | €214,563 | €283,435 | +€68,872 | +32.1% |
| Equity | 10/15 | €199,482 | €64,086 | -€135,396 | -67.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €180,882 | €45,486 | -€135,396 | -74.9% |
| Distributable reserves | 133 | €180,882 | €45,486 | -€135,396 | -74.9% |
| Amounts payable | 17/49 | €15,081 | €219,349 | +€204,268 | +1,354% |
| Amounts payable within one year | 42/48 | €14,694 | €219,349 | +€204,655 | +1,393% |
| Trade debts | 44 | €3,424 | €3,365 | -€59 | -1.7% |
| Suppliers | 440/4 | €3,424 | €3,365 | -€59 | -1.7% |
| Taxes, remuneration and social security | 45 | €11,000 | €15,979 | +€4,979 | +45.3% |
| Taxes | 450/3 | €10,912 | €15,979 | +€5,067 | +46.4% |
| Remuneration and social security | 454/9 | €88 | - | -€88 | |
| Other amounts payable | 47/48 | €270 | €200,005 | +€199,735 | +73,976% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €524 | €675 | +€151 | +28.8% |
| Other operating charges | 640/8 | €2,275 | €2,091 | -€184 | -8.1% |
| Gross operating margin | 9900 | €46,420 | €90,226 | +€43,806 | +94.4% |
| Operating profit (loss) | 9901 | €43,621 | €87,460 | +€43,839 | +100% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | €3,316 | €2,851 | -€465 | -14.0% |
| Recurring financial charges | 65 | €3,316 | €2,851 | -€465 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €40,305 | €84,630 | +€44,325 | +110% |
| Income taxes | 67/77 | €9,078 | €20,026 | +€10,948 | +121% |
| Profit (loss) for the period | 9904 | €31,227 | €64,604 | +€33,377 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €31,227 | €64,604 | +€33,377 | +107% |
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 27 October 2026 via checked.be.