MUNT: what changed
Two fiscal 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.
MUNT
Largest movements
- Receivables within one year +€80,106
up €80,106 (+162.1%), from €49,432 to €129,538
of which Trade receivables: +€79,624
- Receivables after one year -€43,000
down €43,000 (-65.2%), from €66,000 to €23,000
- Stocks and contracts -€12,176
down €12,176 (-8.7%), from €140,417 to €128,241
- Tangible fixed assets -€7,576
down €7,576 (-22.0%), from €34,409 to €26,833
of which Other tangible fixed assets: -€9,755
- Cash -€6,476
down €6,476 (-68.6%), from €9,435 to €2,959
mainly Receivables within one year (-€80,106) and Other debts (-€38,056)
- Trade debts +€41,518
up €41,518 (+150.8%), from €27,536 to €69,054
- Other debts -€38,056
down €38,056 (-94.8%), from €40,142 to €2,086
- Short-term financial debts -€20,000
no longer reported in 2025 (was €20,000)
- Tax, wage and social debts +€19,655
up €19,655 (+464.0%), from €4,236 to €23,891
of which Taxes: +€19,325
- Accrued charges and deferred income +€12,993
up €12,993 (+158.0%), from €8,222 to €21,215
- Gross operating margin -€31,087
down €31,087 (-57.4%), from €54,119 to €23,032
- Staff costs +€2,993
up €2,993 (+166.4%), from €1,799 to €4,792
- Write-downs +€2,956
no longer reported in 2025 (was -€2,956)
- Depreciation +€1,696
up €1,696 (+15.3%), from €11,080 to €12,776
- Financial income -€1,166
down €1,166 (-31.6%), from €3,694 to €2,528
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 | €313,239 | €328,558 | +€15,319 | +4.9% |
| Fixed assets | 21/28 | €34,409 | €26,833 | -€7,576 | -22.0% |
| Tangible fixed assets | 22/27 | €34,409 | €26,833 | -€7,576 | -22.0% |
| Plant, machinery and equipment | 23 | €236 | €703 | +€467 | +197.9% |
| Furniture and vehicles | 24 | €5,633 | €7,345 | +€1,712 | +30.4% |
| Other tangible fixed assets | 26 | €28,540 | €18,785 | -€9,755 | -34.2% |
| Current assets | 29/58 | €278,830 | €301,725 | +€22,895 | +8.2% |
| Amounts receivable after more than one year | 29 | €66,000 | €23,000 | -€43,000 | -65.2% |
| Other amounts receivable | 291 | €66,000 | €23,000 | -€43,000 | -65.2% |
| Stocks and contracts in progress | 3 | €140,417 | €128,241 | -€12,176 | -8.7% |
| Stocks | 30/36 | €140,417 | €128,241 | -€12,176 | -8.7% |
| Amounts receivable within one year | 40/41 | €49,432 | €129,538 | +€80,106 | +162.1% |
| Trade receivables | 40 | €42,230 | €121,854 | +€79,624 | +188.5% |
| Other amounts receivable | 41 | €7,202 | €7,684 | +€482 | +6.7% |
| Cash at bank and in hand | 54/58 | €9,435 | €2,959 | -€6,476 | -68.6% |
| Deferred charges and accrued income | 490/1 | €13,546 | €17,987 | +€4,441 | +32.8% |
| Total equity and liabilities | 10/49 | €313,239 | €328,558 | +€15,319 | +4.9% |
| Equity | 10/15 | €138,103 | €137,312 | -€791 | -0.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €18,103 | €17,312 | -€791 | -4.4% |
| Distributable reserves | 133 | €18,103 | €17,312 | -€791 | -4.4% |
| Amounts payable | 17/49 | €175,136 | €191,246 | +€16,110 | +9.2% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €91,914 | €95,031 | +€3,117 | +3.4% |
| Financial debts | 43 | €20,000 | - | -€20,000 | |
| Credit institutions | 430/8 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €27,536 | €69,054 | +€41,518 | +150.8% |
| Suppliers | 440/4 | €27,536 | €69,054 | +€41,518 | +150.8% |
| Taxes, remuneration and social security | 45 | €4,236 | €23,891 | +€19,655 | +464.0% |
| Taxes | 450/3 | €4,236 | €23,561 | +€19,325 | +456.2% |
| Remuneration and social security | 454/9 | - | €330 | +€330 | |
| Other amounts payable | 47/48 | €40,142 | €2,086 | -€38,056 | -94.8% |
| Accrued charges and deferred income | 492/3 | €8,222 | €21,215 | +€12,993 | +158.0% |
| Remuneration, social security and pensions | 62 | €1,799 | €4,792 | +€2,993 | +166.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,080 | €12,776 | +€1,696 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,956 | - | +€2,956 | |
| Other operating charges | 640/8 | €1,508 | €1,187 | -€321 | -21.3% |
| Gross operating margin | 9900 | €54,119 | €23,032 | -€31,087 | -57.4% |
| Operating profit (loss) | 9901 | €42,688 | €4,277 | -€38,411 | -90.0% |
| Financial income | 75/76B | €3,694 | €2,528 | -€1,166 | -31.6% |
| Recurring financial income | 75 | €3,694 | €2,528 | -€1,166 | -31.6% |
| Financial charges | 65/66B | €7,529 | €7,583 | +€54 | +0.7% |
| Recurring financial charges | 65 | €7,529 | €7,583 | +€54 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €38,853 | -€778 | -€39,631 | |
| Income taxes | 67/77 | €100 | €13 | -€87 | -87.0% |
| Profit (loss) for the period | 9904 | €38,753 | -€791 | -€39,544 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,753 | -€791 | -€39,544 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.