MUNT: 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.
MUNT
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Tangible fixed assets +€94,370
up €94,370 (+64.7%), from €145,962 to €240,332
of which Furniture and vehicles: +€102,443
- Receivables within one year +€52,350
up €52,350 (+190%), from €27,545 to €79,895
- Cash -€38,067
down €38,067 (-15.0%), from €254,297 to €216,230
mainly Investment in fixed assets (net) (-€124,670) and Current investments (-€100,000)
- Stocks and contracts +€8,100
new in 2025: €8,100
- Reserves +€212,120
up €212,120 (+77.7%), from €273,042 to €485,162
- Trade debts -€24,674
down €24,674 (-92.9%), from €26,565 to €1,891
- Debts after one year +€24,203
up €24,203 (+67.5%), from €35,834 to €60,037
of which Financial debts: +€23,603
- Tax, wage and social debts -€17,407
down €17,407 (-29.5%), from €59,102 to €41,695
- Other debts +€11,678
up €11,678 (+51.8%), from €22,529 to €34,208
- Gross operating margin +€111,620
up €111,620 (+51.4%), from €217,360 to €328,980
- Taxes +€15,109
up €15,109 (+26.9%), from €56,168 to €71,277
- Depreciation -€6,065
down €6,065 (-16.7%), from €36,365 to €30,300
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 | €430,762 | €647,043 | +€216,282 | +50.2% |
| Fixed assets | 21/28 | €145,962 | €240,332 | +€94,370 | +64.7% |
| Tangible fixed assets | 22/27 | €145,962 | €240,332 | +€94,370 | +64.7% |
| Land and buildings | 22 | €124,969 | €119,499 | -€5,470 | -4.4% |
| Plant, machinery and equipment | 23 | €18,606 | €13,796 | -€4,809 | -25.8% |
| Furniture and vehicles | 24 | €2,388 | €104,831 | +€102,443 | +4,290% |
| Other tangible fixed assets | 26 | - | €2,206 | +€2,206 | |
| Current assets | 29/58 | €284,800 | €406,711 | +€121,912 | +42.8% |
| Stocks and contracts in progress | 3 | - | €8,100 | +€8,100 | |
| Stocks | 30/36 | - | €8,100 | +€8,100 | |
| Amounts receivable within one year | 40/41 | €27,545 | €79,895 | +€52,350 | +190% |
| Trade receivables | 40 | €27,545 | €79,895 | +€52,350 | +190% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €254,297 | €216,230 | -€38,067 | -15.0% |
| Deferred charges and accrued income | 490/1 | €2,958 | €2,487 | -€471 | -15.9% |
| Total equity and liabilities | 10/49 | €430,762 | €647,043 | +€216,282 | +50.2% |
| Equity | 10/15 | €273,542 | €485,662 | +€212,120 | +77.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €273,042 | €485,162 | +€212,120 | +77.7% |
| Distributable reserves | 133 | €273,042 | €485,162 | +€212,120 | +77.7% |
| Amounts payable | 17/49 | €157,220 | €161,382 | +€4,162 | +2.6% |
| Amounts payable after more than one year | 17 | €35,834 | €60,037 | +€24,203 | +67.5% |
| Financial debts | 170/4 | €35,234 | €58,837 | +€23,603 | +67.0% |
| Other amounts payable | 178/9 | €600 | €1,200 | +€600 | +100% |
| Amounts payable within one year | 42/48 | €117,631 | €97,203 | -€20,428 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €9,434 | €19,408 | +€9,974 | +106% |
| Trade debts | 44 | €26,565 | €1,891 | -€24,674 | -92.9% |
| Suppliers | 440/4 | €26,565 | €1,891 | -€24,674 | -92.9% |
| Taxes, remuneration and social security | 45 | €59,102 | €41,695 | -€17,407 | -29.5% |
| Taxes | 450/3 | €59,102 | €41,695 | -€17,407 | -29.5% |
| Other amounts payable | 47/48 | €22,529 | €34,208 | +€11,678 | +51.8% |
| Accrued charges and deferred income | 492/3 | €3,755 | €4,142 | +€387 | +10.3% |
| Non-recurring operating income | 76A | - | €18,250 | +€18,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,365 | €30,300 | -€6,065 | -16.7% |
| Other operating charges | 640/8 | €1,670 | €1,678 | +€8 | +0.5% |
| Non-recurring operating charges | 66A | €470 | €525 | +€55 | +11.8% |
| Gross operating margin | 9900 | €217,360 | €328,980 | +€111,620 | +51.4% |
| Operating profit (loss) | 9901 | €178,854 | €296,476 | +€117,622 | +65.8% |
| Financial charges | 65/66B | €3,107 | €5,679 | +€2,572 | +82.8% |
| Recurring financial charges | 65 | €3,107 | €5,679 | +€2,572 | +82.8% |
| Profit (loss) for the period before taxes | 9903 | €175,747 | €290,797 | +€115,050 | +65.5% |
| Income taxes | 67/77 | €56,168 | €71,277 | +€15,109 | +26.9% |
| Profit (loss) for the period | 9904 | €119,579 | €219,520 | +€99,941 | +83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €119,579 | €219,520 | +€99,941 | +83.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.