Montreal Properties: what changed
Montreal Properties
Largest movements
- Financial fixed assets +€1.8m
up €1.8m (+43.5%), from €4.2m to €6.0m
- Cash -€600,209
down €600,209 (-57.6%), from €1.0m to €441,724
mainly Investment in fixed assets (net) (-€1.8m) and Other debts (-€541,638)
- Receivables after one year +€400,000
new in 2025: €400,000
- Receivables within one year +€388,866
up €388,866 (+23.7%), from €1.6m to €2.0m
- Debts after one year +€1.6m
up €1.6m (+182%), from €859,341 to €2.4m
of which Other amounts payable: +€1.6m
- Profit (loss) carried forward +€1.1m
up €1.1m (+18,399%), from €6,204 to €1.1m
- Other debts -€541,638
down €541,638 (-77.1%), from €702,846 to €161,209
- Reserves -€164,892
down €164,892 (-3.2%), from €5.2m to €5.0m
of which Distributable reserves: -€164,892
- Financial income +€695,131
up €695,131 (+131%), from €529,818 to €1.2m
- Gross operating margin -€531,222
down €531,222, from €523,971 to -€7,251
- Taxes -€170,430
down €170,430 (-88.2%), from €193,211 to €22,781
- Financial charges +€19,282
up €19,282 (+58.3%), from €33,045 to €52,327
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,887,801 | €8,904,924 | +€2.0m | +29.3% |
| Fixed assets | 21/28 | €4,203,955 | €6,032,421 | +€1.8m | +43.5% |
| Financial fixed assets | 28 | €4,203,955 | €6,032,421 | +€1.8m | +43.5% |
| Current assets | 29/58 | €2,683,846 | €2,872,503 | +€188,658 | +7.0% |
| Amounts receivable after more than one year | 29 | - | €400,000 | +€400,000 | |
| Other amounts receivable | 291 | - | €400,000 | +€400,000 | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,641,913 | €2,030,779 | +€388,866 | +23.7% |
| Other amounts receivable | 41 | €1,641,913 | €2,030,779 | +€388,866 | +23.7% |
| Cash at bank and in hand | 54/58 | €1,041,933 | €441,724 | -€600,209 | -57.6% |
| Total equity and liabilities | 10/49 | €6,887,801 | €8,904,924 | +€2.0m | +29.3% |
| Equity | 10/15 | €5,232,211 | €6,208,764 | +€976,553 | +18.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €5,164,507 | €4,999,614 | -€164,892 | -3.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €5,158,357 | €4,993,464 | -€164,892 | -3.2% |
| Profit (loss) carried forward | 14 | €6,204 | €1,147,649 | +€1.1m | +18,399% |
| Amounts payable | 17/49 | €1,655,591 | €2,696,161 | +€1.0m | +62.9% |
| Amounts payable after more than one year | 17 | €859,341 | €2,421,481 | +€1.6m | +182% |
| Financial debts | 170/4 | €330,000 | €330,000 | = | 0.0% |
| Other amounts payable | 178/9 | €529,341 | €2,091,481 | +€1.6m | +295% |
| Amounts payable within one year | 42/48 | €796,250 | €273,550 | -€522,700 | -65.6% |
| Trade debts | 44 | €194 | €1,352 | +€1,158 | +596% |
| Suppliers | 440/4 | €194 | €1,352 | +€1,158 | +596% |
| Taxes, remuneration and social security | 45 | €93,209 | €110,989 | +€17,780 | +19.1% |
| Taxes | 450/3 | €93,209 | €110,989 | +€17,780 | +19.1% |
| Other amounts payable | 47/48 | €702,846 | €161,209 | -€541,638 | -77.1% |
| Accrued charges and deferred income | 492/3 | - | €1,129 | +€1,129 | |
| Other operating charges | 640/8 | €1,161 | €1,145 | -€16 | -1.4% |
| Gross operating margin | 9900 | €523,971 | -€7,251 | -€531,222 | |
| Operating profit (loss) | 9901 | €522,810 | -€8,396 | -€531,206 | |
| Financial income | 75/76B | €529,818 | €1,224,949 | +€695,131 | +131% |
| Recurring financial income | 75 | €529,818 | €1,224,949 | +€695,131 | +131% |
| Financial charges | 65/66B | €33,045 | €52,327 | +€19,282 | +58.3% |
| Recurring financial charges | 65 | €33,045 | €52,327 | +€19,282 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | €1,019,583 | €1,164,226 | +€144,644 | +14.2% |
| Income taxes | 67/77 | €193,211 | €22,781 | -€170,430 | -88.2% |
| Profit (loss) for the period | 9904 | €826,371 | €1,141,445 | +€315,074 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €826,371 | €1,141,445 | +€315,074 | +38.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.