MULTI BELGIUM MANAGEMENT: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
MULTI BELGIUM MANAGEMENT
Largest movements
- Cash -€271,336
down €271,336 (-80.4%), from €337,353 to €66,017
mainly Trade debts (-€174,543) and Net result for the year (-€172,983)
- Receivables within one year -€74,720
down €74,720 (-41.0%), from €182,195 to €107,475
of which Trade receivables: -€159,851
- Trade debts -€174,543
down €174,543 (-95.7%), from €182,368 to €7,825
- Profit (loss) carried forward -€172,983
down €172,983 (-14.8%), from -€1.2m to -€1.3m
- Debts after one year +€151,000
new in 2025: €151,000
- Tax, wage and social debts -€148,562
no longer reported in 2025 (was €148,562)
of which Remuneration and social security: -€75,650
- Other debts -€6,035
no longer reported in 2025 (was €6,035)
- Gross operating margin -€531,299
down €531,299, from €523,481 to -€7,818
- Staff costs -€97,691
down €97,691 (-37.2%), from €262,813 to €165,122
- Depreciation -€5,736
no longer reported in 2025 (was €5,736)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €524,615 | €173,492 | -€351,123 | -66.9% |
| Current assets | 29/58 | €524,615 | €173,492 | -€351,123 | -66.9% |
| Amounts receivable after more than one year | 29 | €5,067 | - | -€5,067 | |
| Other amounts receivable | 291 | €5,067 | - | -€5,067 | |
| Amounts receivable within one year | 40/41 | €182,195 | €107,475 | -€74,720 | -41.0% |
| Trade receivables | 40 | €159,851 | - | -€159,851 | |
| Other amounts receivable | 41 | €22,344 | €107,475 | +€85,131 | +381% |
| Cash at bank and in hand | 54/58 | €337,353 | €66,017 | -€271,336 | -80.4% |
| Total equity and liabilities | 10/49 | €524,615 | €173,492 | -€351,123 | -66.9% |
| Equity | 10/15 | €187,650 | €14,667 | -€172,983 | -92.2% |
| Contributions | 10/11 | €1,353,012 | €1,353,012 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,165,362 | -€1,338,345 | -€172,983 | -14.8% |
| Amounts payable | 17/49 | €336,965 | €158,825 | -€178,140 | -52.9% |
| Amounts payable after more than one year | 17 | - | €151,000 | +€151,000 | |
| Other amounts payable | 178/9 | - | €151,000 | +€151,000 | |
| Amounts payable within one year | 42/48 | €336,965 | €7,825 | -€329,140 | -97.7% |
| Trade debts | 44 | €182,368 | €7,825 | -€174,543 | -95.7% |
| Suppliers | 440/4 | €182,368 | €7,825 | -€174,543 | -95.7% |
| Taxes, remuneration and social security | 45 | €148,562 | - | -€148,562 | |
| Taxes | 450/3 | €72,912 | - | -€72,912 | |
| Remuneration and social security | 454/9 | €75,650 | - | -€75,650 | |
| Other amounts payable | 47/48 | €6,035 | - | -€6,035 | |
| Non-recurring operating income | 76A | €200,146 | €1,750 | -€198,396 | -99.1% |
| Remuneration, social security and pensions | 62 | €262,813 | €165,122 | -€97,691 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,736 | - | -€5,736 | |
| Gross operating margin | 9900 | €523,481 | -€7,818 | -€531,299 | |
| Operating profit (loss) | 9901 | €254,932 | -€172,940 | -€427,872 | |
| Financial income | 75/76B | - | €3,125 | +€3,125 | |
| Recurring financial income | 75 | - | €3,125 | +€3,125 | |
| Financial charges | 65/66B | €3,353 | €3,168 | -€185 | -5.5% |
| Recurring financial charges | 65 | €3,353 | €3,168 | -€185 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €251,579 | -€172,983 | -€424,562 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €251,579 | -€172,983 | -€424,562 | |
| Profit (loss) for the period to be appropriated | 9905 | €251,579 | -€172,983 | -€424,562 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.