Montonari: 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.
Montonari
Largest movements
- Receivables within one year -€9,477
down €9,477 (-7.2%), from €131,748 to €122,271
of which Other amounts receivable: -€9,457
- Deferred charges and accrued income +€1,767
up €1,767 (+31.5%), from €5,610 to €7,378
- Reserves -€7,394
down €7,394 (-10.5%), from €70,441 to €63,047
- Short-term financial debts +€7,220
up €7,220 (+17.6%), from €41,052 to €48,272
- Tax, wage and social debts -€5,152
down €5,152 (-30.5%), from €16,881 to €11,729
- Trade debts -€2,401
down €2,401 (-18.4%), from €13,045 to €10,644
- Gross operating margin +€21,590
up €21,590 (+241%), from €8,941 to €30,531
- Taxes +€8,075
up €8,075 (+5,236%), from €154 to €8,229
- Financial charges +€4,947
up €4,947 (+305%), from €1,621 to €6,568
- Financial income +€1,763
up €1,763 (+32.1%), from €5,496 to €7,259
- Other operating charges +€387
new in 2025: €387
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 | €153,818 | €146,092 | -€7,727 | -5.0% |
| Fixed assets | 21/28 | €16,443 | €16,443 | = | 0.0% |
| Financial fixed assets | 28 | €16,443 | €16,443 | = | 0.0% |
| Current assets | 29/58 | €137,375 | €129,649 | -€7,727 | -5.6% |
| Amounts receivable within one year | 40/41 | €131,748 | €122,271 | -€9,477 | -7.2% |
| Trade receivables | 40 | €20 | - | -€20 | |
| Other amounts receivable | 41 | €131,728 | €122,271 | -€9,457 | -7.2% |
| Cash at bank and in hand | 54/58 | €17 | - | -€17 | |
| Deferred charges and accrued income | 490/1 | €5,610 | €7,378 | +€1,767 | +31.5% |
| Total equity and liabilities | 10/49 | €153,818 | €146,092 | -€7,727 | -5.0% |
| Equity | 10/15 | €82,841 | €75,447 | -€7,394 | -8.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €70,441 | €63,047 | -€7,394 | -10.5% |
| Distributable reserves | 133 | €70,441 | €63,047 | -€7,394 | -10.5% |
| Amounts payable | 17/49 | €70,978 | €70,645 | -€333 | -0.5% |
| Amounts payable within one year | 42/48 | €70,978 | €70,645 | -€333 | -0.5% |
| Financial debts | 43 | €41,052 | €48,272 | +€7,220 | +17.6% |
| Credit institutions | 430/8 | €41,052 | €48,272 | +€7,220 | +17.6% |
| Trade debts | 44 | €13,045 | €10,644 | -€2,401 | -18.4% |
| Suppliers | 440/4 | €13,045 | €10,644 | -€2,401 | -18.4% |
| Taxes, remuneration and social security | 45 | €16,881 | €11,729 | -€5,152 | -30.5% |
| Taxes | 450/3 | €16,881 | €11,729 | -€5,152 | -30.5% |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €8,941 | €30,531 | +€21,590 | +241% |
| Operating profit (loss) | 9901 | €8,941 | €30,144 | +€21,203 | +237% |
| Financial income | 75/76B | €5,496 | €7,259 | +€1,763 | +32.1% |
| Recurring financial income | 75 | €5,496 | €7,259 | +€1,763 | +32.1% |
| Financial charges | 65/66B | €1,621 | €6,568 | +€4,947 | +305% |
| Recurring financial charges | 65 | €1,621 | €6,568 | +€4,947 | +305% |
| Profit (loss) for the period before taxes | 9903 | €12,816 | €30,836 | +€18,019 | +141% |
| Income taxes | 67/77 | €154 | €8,229 | +€8,075 | +5,236% |
| Profit (loss) for the period | 9904 | €12,662 | €22,606 | +€9,944 | +78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,662 | €22,606 | +€9,944 | +78.5% |
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 15 October 2026 via checked.be.