Munthali: 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.
Munthali
Largest movements
- Cash +€131,275
up €131,275 (+182.7%), from €71,871 to €203,146
mainly Net result for the year (+€132,942) and Tax, wage and social debts (+€20,412)
- Receivables after one year +€15,246
new in 2025: €15,246
- Receivables within one year +€11,689
up €11,689 (+51.9%), from €22,502 to €34,192
of which Trade receivables: +€10,521
- Tangible fixed assets +€2,840
new in 2025: €2,840
of which Plant, machinery and equipment: +€2,321
- Profit (loss) carried forward +€131,276
up €131,276 (+190.6%), from €68,873 to €200,149
- Tax, wage and social debts +€20,412
up €20,412 (+115.7%), from €17,635 to €38,046
- Other debts +€10,343
up €10,343 (+293.6%), from €3,523 to €13,866
- Gross operating margin +€84,503
up €84,503 (+95.8%), from €88,231 to €172,734
- Taxes +€20,412
up €20,412 (+115.7%), from €17,635 to €38,046
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 | €94,373 | €255,924 | +€161,551 | +171.2% |
| Fixed assets | 21/28 | - | €2,840 | +€2,840 | |
| Tangible fixed assets | 22/27 | - | €2,840 | +€2,840 | |
| Plant, machinery and equipment | 23 | - | €2,321 | +€2,321 | |
| Furniture and vehicles | 24 | - | €519 | +€519 | |
| Current assets | 29/58 | €94,373 | €253,085 | +€158,711 | +168.2% |
| Amounts receivable after more than one year | 29 | - | €15,246 | +€15,246 | |
| Other amounts receivable | 291 | - | €15,246 | +€15,246 | |
| Amounts receivable within one year | 40/41 | €22,502 | €34,192 | +€11,689 | +51.9% |
| Trade receivables | 40 | €22,502 | €33,023 | +€10,521 | +46.8% |
| Other amounts receivable | 41 | - | €1,169 | +€1,169 | |
| Cash at bank and in hand | 54/58 | €71,871 | €203,146 | +€131,275 | +182.7% |
| Deferred charges and accrued income | 490/1 | - | €501 | +€501 | |
| Total equity and liabilities | 10/49 | €94,373 | €255,924 | +€161,551 | +171.2% |
| Equity | 10/15 | €70,873 | €202,149 | +€131,276 | +185.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,873 | €200,149 | +€131,276 | +190.6% |
| Amounts payable | 17/49 | €23,501 | €53,775 | +€30,275 | +128.8% |
| Amounts payable within one year | 42/48 | €23,501 | €51,957 | +€28,457 | +121.1% |
| Trade debts | 44 | €2,343 | €45 | -€2,298 | -98.1% |
| Suppliers | 440/4 | €2,343 | €45 | -€2,298 | -98.1% |
| Taxes, remuneration and social security | 45 | €17,635 | €38,046 | +€20,412 | +115.7% |
| Taxes | 450/3 | €17,635 | €38,046 | +€20,412 | +115.7% |
| Other amounts payable | 47/48 | €3,523 | €13,866 | +€10,343 | +293.6% |
| Accrued charges and deferred income | 492/3 | - | €1,818 | +€1,818 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €706 | +€706 | |
| Other operating charges | 640/8 | €50 | €247 | +€197 | +393.6% |
| Gross operating margin | 9900 | €88,231 | €172,734 | +€84,503 | +95.8% |
| Operating profit (loss) | 9901 | €88,181 | €171,781 | +€83,601 | +94.8% |
| Financial income | 75/76B | - | €155 | +€155 | |
| Recurring financial income | 75 | - | €155 | +€155 | |
| Financial charges | 65/66B | €8 | €948 | +€940 | +12535.3% |
| Recurring financial charges | 65 | €8 | €948 | +€940 | +12535.3% |
| Profit (loss) for the period before taxes | 9903 | €88,173 | €170,988 | +€82,815 | +93.9% |
| Income taxes | 67/77 | €17,635 | €38,046 | +€20,412 | +115.7% |
| Profit (loss) for the period | 9904 | €70,539 | €132,942 | +€62,404 | +88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,539 | €132,942 | +€62,404 | +88.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.