5G Multimodal: 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.
5G Multimodal
Largest movements
- Receivables within one year +€1.0m
up €1.0m (+87.3%), from €1.2m to €2.2m
of which Trade receivables: +€856,157
- Cash +€179,186
up €179,186 (+12.7%), from €1.4m to €1.6m
mainly Trade debts (+€990,802) and Net result for the year (+€707,147)
- Tangible fixed assets -€101,280
down €101,280 (-12.9%), from €786,206 to €684,926
of which Plant, machinery and equipment: -€101,351
- Deferred charges and accrued income -€63,207
down €63,207 (-100.0%), from €63,207 to €0
- Trade debts +€990,802
up €990,802 (+56.2%), from €1.8m to €2.8m
- Other debts +€80,000
up €80,000 (+12.8%), from €627,000 to €707,000
- Gross operating margin +€199,114
up €199,114 (+16.4%), from €1.2m to €1.4m
- Depreciation +€75,216
up €75,216 (+46.2%), from €162,866 to €238,082
- Taxes +€29,295
up €29,295 (+14.0%), from €208,567 to €237,863
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 | €3,459,052 | €4,517,134 | +€1.1m | +30.6% |
| Fixed assets | 21/28 | €791,206 | €689,926 | -€101,280 | -12.8% |
| Tangible fixed assets | 22/27 | €786,206 | €684,926 | -€101,280 | -12.9% |
| Land and buildings | 22 | €302,289 | €291,700 | -€10,589 | -3.5% |
| Plant, machinery and equipment | 23 | €475,778 | €374,427 | -€101,351 | -21.3% |
| Furniture and vehicles | 24 | €8,140 | €18,799 | +€10,659 | +131.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €2,667,845 | €3,827,208 | +€1.2m | +43.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,195,515 | €2,238,899 | +€1.0m | +87.3% |
| Trade receivables | 40 | €891,619 | €1,747,776 | +€856,157 | +96.0% |
| Other amounts receivable | 41 | €303,896 | €491,123 | +€187,227 | +61.6% |
| Cash at bank and in hand | 54/58 | €1,409,123 | €1,588,309 | +€179,186 | +12.7% |
| Deferred charges and accrued income | 490/1 | €63,207 | €0 | -€63,207 | -100.0% |
| Total equity and liabilities | 10/49 | €3,459,052 | €4,517,134 | +€1.1m | +30.6% |
| Equity | 10/15 | €722,771 | €722,918 | +€147 | 0.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €572,000 | €572,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €557,000 | €557,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €771 | €918 | +€147 | +19.1% |
| Amounts payable | 17/49 | €2,736,281 | €3,794,216 | +€1.1m | +38.7% |
| Amounts payable after more than one year | 17 | €213,125 | €199,375 | -€13,750 | -6.5% |
| Financial debts | 170/4 | €213,125 | €199,375 | -€13,750 | -6.5% |
| Amounts payable within one year | 42/48 | €2,481,197 | €3,593,903 | +€1.1m | +44.8% |
| Current portion of amounts payable after more than one year | 42 | €13,750 | €13,750 | = | 0.0% |
| Trade debts | 44 | €1,763,071 | €2,753,873 | +€990,802 | +56.2% |
| Suppliers | 440/4 | €1,763,071 | €2,753,873 | +€990,802 | +56.2% |
| Taxes, remuneration and social security | 45 | €77,376 | €119,280 | +€41,904 | +54.2% |
| Taxes | 450/3 | €50,551 | €90,153 | +€39,602 | +78.3% |
| Remuneration and social security | 454/9 | €26,825 | €29,127 | +€2,302 | +8.6% |
| Other amounts payable | 47/48 | €627,000 | €707,000 | +€80,000 | +12.8% |
| Accrued charges and deferred income | 492/3 | €41,959 | €938 | -€41,021 | -97.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €224,476 | €236,897 | +€12,421 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162,866 | €238,082 | +€75,216 | +46.2% |
| Other operating charges | 640/8 | €1,945 | €5,210 | +€3,265 | +167.8% |
| Non-recurring operating charges | 66A | €115 | €0 | -€115 | -100.0% |
| Gross operating margin | 9900 | €1,216,690 | €1,415,804 | +€199,114 | +16.4% |
| Operating profit (loss) | 9901 | €827,288 | €935,614 | +€108,326 | +13.1% |
| Financial income | 75/76B | €17,951 | €20,197 | +€2,247 | +12.5% |
| Recurring financial income | 75 | €17,951 | €20,197 | +€2,247 | +12.5% |
| Financial charges | 65/66B | €9,573 | €10,802 | +€1,229 | +12.8% |
| Recurring financial charges | 65 | €9,573 | €10,802 | +€1,229 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €835,666 | €945,010 | +€109,344 | +13.1% |
| Income taxes | 67/77 | €208,567 | €237,863 | +€29,295 | +14.0% |
| Profit (loss) for the period | 9904 | €627,098 | €707,147 | +€80,049 | +12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €627,098 | €707,147 | +€80,049 | +12.8% |
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 9 October 2026 via checked.be.