MULTI - AIR: 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.
MULTI - AIR
Largest movements
- Tangible fixed assets -€8,459
down €8,459 (-27.9%), from €30,356 to €21,897
of which Furniture and vehicles: -€8,064
- Receivables within one year -€4,659
down €4,659 (-44.7%), from €10,429 to €5,770
of which Trade receivables: -€4,697
- Cash +€2,133
up €2,133 (+48.4%), from €4,409 to €6,542
mainly Depreciation (+€8,459) and Receivables within one year (+€4,659)
- Stocks and contracts -€523
down €523 (-10.3%), from €5,055 to €4,533
- Other debts -€9,527
down €9,527 (-5.0%), from €190,278 to €180,751
- Tax, wage and social debts -€1,178
down €1,178 (-59.6%), from €1,976 to €798
- Trade debts -€519
down €519 (-59.6%), from €871 to €352
- Gross operating margin -€9,521
down €9,521 (-49.9%), from €19,073 to €9,553
- Depreciation +€1,494
up €1,494 (+21.4%), from €6,965 to €8,459
- Other operating charges -€439
down €439 (-29.8%), from €1,475 to €1,036
- Write-downs +€307
up €307, from -€307 to €0
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 | €50,249 | €38,815 | -€11,434 | -22.8% |
| Fixed assets | 21/28 | €30,356 | €21,897 | -€8,459 | -27.9% |
| Tangible fixed assets | 22/27 | €30,356 | €21,897 | -€8,459 | -27.9% |
| Plant, machinery and equipment | 23 | €512 | €118 | -€394 | -77.0% |
| Furniture and vehicles | 24 | €29,844 | €21,779 | -€8,064 | -27.0% |
| Current assets | 29/58 | €19,893 | €16,917 | -€2,975 | -15.0% |
| Stocks and contracts in progress | 3 | €5,055 | €4,533 | -€523 | -10.3% |
| Stocks | 30/36 | €5,055 | €4,533 | -€523 | -10.3% |
| Amounts receivable within one year | 40/41 | €10,429 | €5,770 | -€4,659 | -44.7% |
| Trade receivables | 40 | €9,059 | €4,362 | -€4,697 | -51.8% |
| Other amounts receivable | 41 | €1,370 | €1,407 | +€38 | +2.7% |
| Cash at bank and in hand | 54/58 | €4,409 | €6,542 | +€2,133 | +48.4% |
| Deferred charges and accrued income | 490/1 | - | €73 | +€73 | |
| Total equity and liabilities | 10/49 | €50,249 | €38,815 | -€11,434 | -22.8% |
| Equity | 10/15 | -€142,876 | -€143,087 | -€211 | -0.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,359 | €8,359 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,435 | -€157,646 | -€211 | -0.1% |
| Amounts payable | 17/49 | €193,124 | €181,901 | -€11,223 | -5.8% |
| Amounts payable within one year | 42/48 | €193,124 | €181,901 | -€11,223 | -5.8% |
| Trade debts | 44 | €871 | €352 | -€519 | -59.6% |
| Suppliers | 440/4 | €871 | €352 | -€519 | -59.6% |
| Taxes, remuneration and social security | 45 | €1,976 | €798 | -€1,178 | -59.6% |
| Taxes | 450/3 | €1,976 | €798 | -€1,178 | -59.6% |
| Other amounts payable | 47/48 | €190,278 | €180,751 | -€9,527 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,965 | €8,459 | +€1,494 | +21.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€307 | €0 | +€307 | |
| Other operating charges | 640/8 | €1,475 | €1,036 | -€439 | -29.8% |
| Gross operating margin | 9900 | €19,073 | €9,553 | -€9,521 | -49.9% |
| Operating profit (loss) | 9901 | €10,941 | €58 | -€10,883 | -99.5% |
| Financial income | 75/76B | €4 | €1 | -€3 | -81.5% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -81.5% |
| Financial charges | 65/66B | €130 | €68 | -€62 | -47.9% |
| Recurring financial charges | 65 | €130 | €68 | -€62 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | €10,815 | -€9 | -€10,824 | |
| Income taxes | 67/77 | €18 | €202 | +€184 | +1032.0% |
| Profit (loss) for the period | 9904 | €10,797 | -€211 | -€11,008 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,797 | -€211 | -€11,008 |
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 3 October 2026 via checked.be.