THE WHITE MONKEY: 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.
THE WHITE MONKEY
Largest movements
- Financial fixed assets +€23.2m
up €23.2m (+2212.9%), from €1.0m to €24.2m
- Current investments -€658,015
down €658,015 (-69.2%), from €951,429 to €293,415
- Receivables within one year +€460,476
up €460,476 (+83.7%), from €549,879 to €1.0m
of which Other amounts receivable: +€299,620
- Reserves +€22.7m
up €22.7m (+1112.4%), from €2.0m to €24.7m
- Current portion of long-term debt -€374,790
down €374,790 (-75.5%), from €496,624 to €121,834
- Financial income +€22.5m
up €22.5m (+111554.5%), from €20,188 to €22.5m
of which Non-recurring financial income: +€21.3m
- Gross operating margin +€285,650
up €285,650 (+159.0%), from €179,604 to €465,254
- Financial charges +€72,816
up €72,816 (+100.3%), from €72,595 to €145,410
of which Financial charges: +€47,816
- Depreciation +€68,152
up €68,152 (+101.0%), from €67,506 to €135,658
- Taxes +€40,830
up €40,830 (+174.0%), from €23,471 to €64,301
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,523,686 | €27,321,293 | +€22.8m | +504.0% |
| Fixed assets | 21/28 | €1,936,048 | €25,086,578 | +€23.2m | +1195.8% |
| Tangible fixed assets | 22/27 | €887,657 | €838,822 | -€48,834 | -5.5% |
| Land and buildings | 22 | €589,943 | €809,519 | +€219,577 | +37.2% |
| Plant, machinery and equipment | 23 | €2,262 | €1,657 | -€604 | -26.7% |
| Furniture and vehicles | 24 | €21,183 | €27,646 | +€6,462 | +30.5% |
| Assets under construction and advance payments | 27 | €274,269 | - | -€274,269 | |
| Financial fixed assets | 28 | €1,048,391 | €24,247,756 | +€23.2m | +2212.9% |
| Current assets | 29/58 | €2,587,638 | €2,234,715 | -€352,922 | -13.6% |
| Stocks and contracts in progress | 3 | €903,442 | €823,078 | -€80,365 | -8.9% |
| Stocks | 30/36 | €903,442 | €823,078 | -€80,365 | -8.9% |
| Amounts receivable within one year | 40/41 | €549,879 | €1,010,355 | +€460,476 | +83.7% |
| Trade receivables | 40 | €47,439 | €208,295 | +€160,856 | +339.1% |
| Other amounts receivable | 41 | €502,440 | €802,060 | +€299,620 | +59.6% |
| Current investments | 50/53 | €951,429 | €293,415 | -€658,015 | -69.2% |
| Cash at bank and in hand | 54/58 | €147,446 | €98,145 | -€49,301 | -33.4% |
| Deferred charges and accrued income | 490/1 | €35,441 | €9,723 | -€25,718 | -72.6% |
| Total equity and liabilities | 10/49 | €4,523,686 | €27,321,293 | +€22.8m | +504.0% |
| Equity | 10/15 | €2,055,116 | €24,709,923 | +€22.7m | +1102.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,036,516 | €24,691,323 | +€22.7m | +1112.4% |
| Distributable reserves | 133 | €2,036,516 | €24,691,323 | +€22.7m | +1112.4% |
| Amounts payable | 17/49 | €2,468,569 | €2,611,370 | +€142,801 | +5.8% |
| Amounts payable after more than one year | 17 | €1,388,896 | €1,609,209 | +€220,314 | +15.9% |
| Financial debts | 170/4 | €1,388,896 | €1,609,209 | +€220,314 | +15.9% |
| Amounts payable within one year | 42/48 | €1,079,674 | €941,652 | -€138,022 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €496,624 | €121,834 | -€374,790 | -75.5% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €48,880 | €251,190 | +€202,310 | +413.9% |
| Suppliers | 440/4 | €48,880 | €251,190 | +€202,310 | +413.9% |
| Taxes, remuneration and social security | 45 | €7,543 | €30,032 | +€22,489 | +298.1% |
| Taxes | 450/3 | €7,543 | €30,032 | +€22,489 | +298.1% |
| Other amounts payable | 47/48 | €26,627 | €38,596 | +€11,969 | +45.0% |
| Accrued charges and deferred income | 492/3 | - | €60,509 | +€60,509 | |
| Non-recurring operating income | 76A | - | €13,000 | +€13,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,506 | €135,658 | +€68,152 | +101.0% |
| Other operating charges | 640/8 | €4,058 | €5,441 | +€1,383 | +34.1% |
| Gross operating margin | 9900 | €179,604 | €465,254 | +€285,650 | +159.0% |
| Operating profit (loss) | 9901 | €108,040 | €324,154 | +€216,115 | +200.0% |
| Financial income | 75/76B | €20,188 | €22,540,364 | +€22.5m | +111554.5% |
| Recurring financial income | 75 | €20,188 | €1,252,464 | +€1.2m | +6104.1% |
| Non-recurring financial income | 76B | - | €21,287,900 | +€21.3m | |
| Financial charges | 65/66B | €72,595 | €145,410 | +€72,816 | +100.3% |
| Recurring financial charges | 65 | €72,595 | €120,410 | +€47,816 | +65.9% |
| Non-recurring financial charges | 66B | - | €25,000 | +€25,000 | |
| Profit (loss) for the period before taxes | 9903 | €55,632 | €22,719,108 | +€22.7m | +40737.9% |
| Income taxes | 67/77 | €23,471 | €64,301 | +€40,830 | +174.0% |
| Profit (loss) for the period | 9904 | €32,162 | €22,654,807 | +€22.6m | +70340.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,162 | €22,654,807 | +€22.6m | +70340.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.