Montjoye: 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.
Montjoye
Largest movements
- Receivables within one year -€284,159
down €284,159 (-97.4%), from €291,612 to €7,454
of which Other amounts receivable: -€250,000
- Cash +€90,789
up €90,789 (+67.9%), from €133,619 to €224,408
mainly Receivables within one year (+€284,159) and Depreciation (+€262,223)
- Tangible fixed assets -€70,980
down €70,980 (-1.5%), from €4.8m to €4.7m
of which Land and buildings: -€72,275
- Profit (loss) carried forward -€273,519
down €273,519 (-91.7%), from -€298,376 to -€571,894
- Gross operating margin +€155,371
up €155,371, from -€51,021 to €104,350
- Depreciation +€54,630
up €54,630 (+26.3%), from €207,593 to €262,223
- Financial income -€13,623
down €13,623 (-96.9%), from €14,063 to €440
- Staff costs +€2,312
up €2,312 (+3.2%), from €71,185 to €73,497
- Financial charges -€1,568
down €1,568 (-9.8%), from €15,981 to €14,413
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 | €5,207,096 | €4,943,766 | -€263,329 | -5.1% |
| Fixed assets | 21/28 | €4,779,401 | €4,708,420 | -€70,980 | -1.5% |
| Tangible fixed assets | 22/27 | €4,779,141 | €4,708,161 | -€70,980 | -1.5% |
| Land and buildings | 22 | €3,180,133 | €3,107,858 | -€72,275 | -2.3% |
| Plant, machinery and equipment | 23 | €1,595,136 | €1,598,028 | +€2,892 | +0.2% |
| Furniture and vehicles | 24 | €3,872 | €2,275 | -€1,597 | -41.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €259 | €259 | = | 0.0% |
| Current assets | 29/58 | €427,695 | €235,346 | -€192,349 | -45.0% |
| Amounts receivable within one year | 40/41 | €291,612 | €7,454 | -€284,159 | -97.4% |
| Trade receivables | 40 | €41,612 | €7,454 | -€34,159 | -82.1% |
| Other amounts receivable | 41 | €250,000 | €0 | -€250,000 | -100% |
| Cash at bank and in hand | 54/58 | €133,619 | €224,408 | +€90,789 | +67.9% |
| Deferred charges and accrued income | 490/1 | €2,464 | €3,485 | +€1,021 | +41.4% |
| Total equity and liabilities | 10/49 | €5,207,096 | €4,943,766 | -€263,329 | -5.1% |
| Equity | 10/15 | €4,390,755 | €4,163,137 | -€227,619 | -5.2% |
| Contributions | 10/11 | €4,660,481 | €4,660,481 | = | 0.0% |
| Capital | 10 | €4,660,481 | €4,660,481 | = | 0.0% |
| Issued capital | 100 | €4,660,481 | €4,660,481 | = | 0.0% |
| Reserves | 13 | €28,650 | €28,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,650 | €28,650 | = | 0.0% |
| Legal reserve | 130 | €28,650 | €28,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€298,376 | -€571,894 | -€273,519 | -91.7% |
| Investment grants | 15 | - | €45,900 | +€45,900 | |
| Amounts payable | 17/49 | €816,340 | €780,630 | -€35,711 | -4.4% |
| Amounts payable after more than one year | 17 | €734,105 | €693,819 | -€40,285 | -5.5% |
| Financial debts | 170/4 | €734,105 | €692,119 | -€41,985 | -5.7% |
| Other amounts payable | 178/9 | - | €1,700 | +€1,700 | |
| Amounts payable within one year | 42/48 | €70,236 | €70,847 | +€612 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €39,828 | €40,585 | +€758 | +1.9% |
| Trade debts | 44 | €20,765 | €22,428 | +€1,663 | +8.0% |
| Suppliers | 440/4 | €20,765 | €22,428 | +€1,663 | +8.0% |
| Taxes, remuneration and social security | 45 | €9,642 | €7,834 | -€1,808 | -18.8% |
| Remuneration and social security | 454/9 | €9,642 | €7,834 | -€1,808 | -18.8% |
| Accrued charges and deferred income | 492/3 | €12,000 | €15,963 | +€3,963 | +33.0% |
| Remuneration, social security and pensions | 62 | €71,185 | €73,497 | +€2,312 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,593 | €262,223 | +€54,630 | +26.3% |
| Other operating charges | 640/8 | €27,316 | €28,175 | +€858 | +3.1% |
| Gross operating margin | 9900 | -€51,021 | €104,350 | +€155,371 | |
| Operating profit (loss) | 9901 | -€357,115 | -€259,545 | +€97,570 | +27.3% |
| Financial income | 75/76B | €14,063 | €440 | -€13,623 | -96.9% |
| Recurring financial income | 75 | €14,063 | €440 | -€13,623 | -96.9% |
| Financial charges | 65/66B | €15,981 | €14,413 | -€1,568 | -9.8% |
| Recurring financial charges | 65 | €15,981 | €14,413 | -€1,568 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | -€359,033 | -€273,519 | +€85,515 | +23.8% |
| Profit (loss) for the period | 9904 | -€359,033 | -€273,519 | +€85,515 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€359,033 | -€273,519 | +€85,515 | +23.8% |
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.