MUNTHOF: 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.
MUNTHOF
Largest movements
- Financial fixed assets -€20,000
down €20,000 (-2.1%), from €946,220 to €926,220
- Profit (loss) carried forward -€47,770
down €47,770, from €13,298 to -€34,472
- Other debts +€38,100
up €38,100 (+3.2%), from €1.2m to €1.2m
- Financial income -€207,809
no longer reported in 2025 (was €207,809)
of which Non-recurring financial income: -€206,109
- Gross operating margin +€150,158
up €150,158 (+81.3%), from -€184,720 to -€34,562
- Financial charges -€12,323
down €12,323 (-94.5%), from €13,041 to €718
- Other operating charges +€2,446
up €2,446 (+28.9%), from €8,454 to €10,900
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 | €1,972,396 | €1,967,566 | -€4,831 | -0.2% |
| Fixed assets | 21/28 | €946,220 | €926,220 | -€20,000 | -2.1% |
| Financial fixed assets | 28 | €946,220 | €926,220 | -€20,000 | -2.1% |
| Current assets | 29/58 | €1,026,177 | €1,041,346 | +€15,169 | +1.5% |
| Stocks and contracts in progress | 3 | €890,967 | €890,967 | = | 0.0% |
| Stocks | 30/36 | €890,967 | €890,967 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €104,984 | €120,216 | +€15,232 | +14.5% |
| Trade receivables | 40 | €72,435 | €56,700 | -€15,735 | -21.7% |
| Other amounts receivable | 41 | €32,550 | €63,516 | +€30,967 | +95.1% |
| Cash at bank and in hand | 54/58 | €225 | €163 | -€63 | -27.8% |
| Deferred charges and accrued income | 490/1 | €30,000 | €30,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,972,396 | €1,967,566 | -€4,831 | -0.2% |
| Equity | 10/15 | €788,298 | €740,528 | -€47,770 | -6.1% |
| Contributions | 10/11 | €775,000 | €775,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,298 | -€34,472 | -€47,770 | |
| Amounts payable | 17/49 | €1,184,098 | €1,227,038 | +€42,940 | +3.6% |
| Amounts payable within one year | 42/48 | €1,184,098 | €1,227,038 | +€42,940 | +3.6% |
| Trade debts | 44 | €964 | €9,257 | +€8,293 | +861% |
| Suppliers | 440/4 | €964 | €9,257 | +€8,293 | +861% |
| Taxes, remuneration and social security | 45 | €4,353 | €899 | -€3,454 | -79.4% |
| Taxes | 450/3 | €4,353 | €899 | -€3,454 | -79.4% |
| Other amounts payable | 47/48 | €1,178,782 | €1,216,882 | +€38,100 | +3.2% |
| Other operating charges | 640/8 | €8,454 | €10,900 | +€2,446 | +28.9% |
| Gross operating margin | 9900 | -€184,720 | -€34,562 | +€150,158 | +81.3% |
| Operating profit (loss) | 9901 | -€193,174 | -€45,462 | +€147,712 | +76.5% |
| Financial income | 75/76B | €207,809 | - | -€207,809 | |
| Recurring financial income | 75 | €1,700 | - | -€1,700 | |
| Non-recurring financial income | 76B | €206,109 | - | -€206,109 | |
| Financial charges | 65/66B | €13,041 | €718 | -€12,323 | -94.5% |
| Recurring financial charges | 65 | €13,041 | €718 | -€12,323 | -94.5% |
| Profit (loss) for the period before taxes | 9903 | €1,595 | -€46,179 | -€47,774 | |
| Income taxes | 67/77 | €899 | €1,591 | +€692 | +77.0% |
| Profit (loss) for the period | 9904 | €696 | -€47,770 | -€48,466 | |
| Profit (loss) for the period to be appropriated | 9905 | €696 | -€47,770 | -€48,466 |
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 27 October 2026 via checked.be.