MULTANI & CO: 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.
MULTANI & CO
Largest movements
- Cash -€67,869
down €67,869 (-82.2%), from €82,577 to €14,708
mainly Investment in fixed assets (net) (-€34,820) and Net result for the year (-€24,913)
- Tangible fixed assets +€24,521
up €24,521 (+197.7%), from €12,404 to €36,925
of which Furniture and vehicles: +€24,677
- Receivables within one year +€15,921
up €15,921 (+109.3%), from €14,564 to €30,485
- Stocks and contracts +€6,885
up €6,885 (+20.6%), from €33,490 to €40,375
- Profit (loss) carried forward -€24,913
down €24,913 (-38.8%), from €64,202 to €39,290
- Debts after one year +€21,251
new in 2025: €21,251
- Trade debts -€11,054
down €11,054 (-28.1%), from €39,381 to €28,327
- Other debts -€9,822
down €9,822 (-90.5%), from €10,848 to €1,026
- Current portion of long-term debt +€3,148
new in 2025: €3,148
- Gross operating margin -€33,394
down €33,394 (-53.8%), from €62,116 to €28,722
- Staff costs +€23,191
new in 2025: €23,191
- Taxes -€10,381
no longer reported in 2025 (was €10,381)
- Financial charges +€7,900
up €7,900 (+88.8%), from €8,894 to €16,794
- Depreciation +€4,196
up €4,196 (+72.1%), from €5,819 to €10,015
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 | €143,035 | €123,245 | -€19,790 | -13.8% |
| Fixed assets | 21/28 | €12,404 | €37,209 | +€24,805 | +200.0% |
| Tangible fixed assets | 22/27 | €12,404 | €36,925 | +€24,521 | +197.7% |
| Plant, machinery and equipment | 23 | €1,372 | €1,216 | -€156 | -11.3% |
| Furniture and vehicles | 24 | €11,032 | €35,709 | +€24,677 | +223.7% |
| Financial fixed assets | 28 | - | €284 | +€284 | |
| Current assets | 29/58 | €130,631 | €86,036 | -€44,595 | -34.1% |
| Stocks and contracts in progress | 3 | €33,490 | €40,375 | +€6,885 | +20.6% |
| Stocks | 30/36 | €33,490 | €40,375 | +€6,885 | +20.6% |
| Amounts receivable within one year | 40/41 | €14,564 | €30,485 | +€15,921 | +109.3% |
| Other amounts receivable | 41 | €14,564 | €30,485 | +€15,921 | +109.3% |
| Cash at bank and in hand | 54/58 | €82,577 | €14,708 | -€67,869 | -82.2% |
| Deferred charges and accrued income | 490/1 | - | €468 | +€468 | |
| Total equity and liabilities | 10/49 | €143,035 | €123,245 | -€19,790 | -13.8% |
| Equity | 10/15 | €74,202 | €49,290 | -€24,913 | -33.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,202 | €39,290 | -€24,913 | -38.8% |
| Amounts payable | 17/49 | €68,832 | €73,955 | +€5,123 | +7.4% |
| Amounts payable after more than one year | 17 | - | €21,251 | +€21,251 | |
| Financial debts | 170/4 | - | €21,251 | +€21,251 | |
| Amounts payable within one year | 42/48 | €68,832 | €52,704 | -€16,128 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | - | €3,148 | +€3,148 | |
| Trade debts | 44 | €39,381 | €28,327 | -€11,054 | -28.1% |
| Suppliers | 440/4 | €39,381 | €28,327 | -€11,054 | -28.1% |
| Taxes, remuneration and social security | 45 | €18,603 | €20,202 | +€1,600 | +8.6% |
| Taxes | 450/3 | €18,003 | €14,128 | -€3,875 | -21.5% |
| Remuneration and social security | 454/9 | €600 | €6,074 | +€5,474 | +912.4% |
| Other amounts payable | 47/48 | €10,848 | €1,026 | -€9,822 | -90.5% |
| Remuneration, social security and pensions | 62 | - | €23,191 | +€23,191 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,819 | €10,015 | +€4,196 | +72.1% |
| Other operating charges | 640/8 | €471 | €3,634 | +€3,163 | +672.0% |
| Gross operating margin | 9900 | €62,116 | €28,722 | -€33,394 | -53.8% |
| Operating profit (loss) | 9901 | €55,827 | -€8,119 | -€63,945 | |
| Financial charges | 65/66B | €8,894 | €16,794 | +€7,900 | +88.8% |
| Recurring financial charges | 65 | €8,894 | €16,794 | +€7,900 | +88.8% |
| Profit (loss) for the period before taxes | 9903 | €46,932 | -€24,913 | -€71,845 | |
| Income taxes | 67/77 | €10,381 | - | -€10,381 | |
| Profit (loss) for the period | 9904 | €36,551 | -€24,913 | -€61,464 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,551 | -€24,913 | -€61,464 |
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 5 October 2026 via checked.be.