MULTI-ENERGY: 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-ENERGY
Largest movements
- Cash -€52,432
down €52,432 (-58.6%), from €89,535 to €37,103
mainly Accrued charges and deferred income (-€48,653) and Other debts (-€11,745)
- Tangible fixed assets -€2,105
down €2,105 (-21.0%), from €10,012 to €7,907
of which Furniture and vehicles: -€4,359
- Accrued charges and deferred income -€48,653
down €48,653 (-94.0%), from €51,762 to €3,109
- Other debts -€11,745
down €11,745 (-81.3%), from €14,443 to €2,698
- Reserves +€4,098
up €4,098 (+12.3%), from €33,281 to €37,379
- Tax, wage and social debts +€2,362
up €2,362 (+109.5%), from €2,157 to €4,519
- Other operating charges +€3,525
up €3,525 (+264.8%), from €1,331 to €4,856
- Taxes -€2,029
down €2,029 (-36.6%), from €5,539 to €3,510
- Depreciation -€1,570
down €1,570 (-30.0%), from €5,237 to €3,667
- Gross operating margin -€1,266
down €1,266 (-6.4%), from €19,671 to €18,405
- Financial charges -€372
down €372 (-42.9%), from €867 to €495
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 | €116,848 | €62,040 | -€54,808 | -46.9% |
| Fixed assets | 21/28 | €12,731 | €10,557 | -€2,174 | -17.1% |
| Intangible fixed assets | 21 | €69 | - | -€69 | |
| Tangible fixed assets | 22/27 | €10,012 | €7,907 | -€2,105 | -21.0% |
| Plant, machinery and equipment | 23 | €3,400 | €5,854 | +€2,454 | +72.2% |
| Furniture and vehicles | 24 | €5,099 | €740 | -€4,359 | -85.5% |
| Other tangible fixed assets | 26 | €1,513 | €1,313 | -€200 | -13.2% |
| Financial fixed assets | 28 | €2,650 | €2,650 | = | 0.0% |
| Current assets | 29/58 | €104,117 | €51,483 | -€52,634 | -50.6% |
| Stocks and contracts in progress | 3 | €1,869 | €1,401 | -€468 | -25.0% |
| Stocks | 30/36 | €1,869 | €1,401 | -€468 | -25.0% |
| Amounts receivable within one year | 40/41 | €5,830 | €5,643 | -€187 | -3.2% |
| Trade receivables | 40 | €4,537 | €4,347 | -€190 | -4.2% |
| Other amounts receivable | 41 | €1,293 | €1,296 | +€3 | +0.2% |
| Cash at bank and in hand | 54/58 | €89,535 | €37,103 | -€52,432 | -58.6% |
| Deferred charges and accrued income | 490/1 | €6,883 | €7,336 | +€453 | +6.6% |
| Total equity and liabilities | 10/49 | €116,848 | €62,040 | -€54,808 | -46.9% |
| Equity | 10/15 | €39,581 | €43,679 | +€4,098 | +10.4% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €33,281 | €37,379 | +€4,098 | +12.3% |
| Distributable reserves | 133 | €33,281 | €37,379 | +€4,098 | +12.3% |
| Amounts payable | 17/49 | €77,267 | €18,361 | -€58,906 | -76.2% |
| Amounts payable within one year | 42/48 | €25,505 | €15,252 | -€10,253 | -40.2% |
| Trade debts | 44 | €8,905 | €8,035 | -€870 | -9.8% |
| Suppliers | 440/4 | €8,905 | €8,035 | -€870 | -9.8% |
| Taxes, remuneration and social security | 45 | €2,157 | €4,519 | +€2,362 | +109.5% |
| Taxes | 450/3 | €2,157 | €4,519 | +€2,362 | +109.5% |
| Other amounts payable | 47/48 | €14,443 | €2,698 | -€11,745 | -81.3% |
| Accrued charges and deferred income | 492/3 | €51,762 | €3,109 | -€48,653 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,237 | €3,667 | -€1,570 | -30.0% |
| Other operating charges | 640/8 | €1,331 | €4,856 | +€3,525 | +264.8% |
| Non-recurring operating charges | 66A | - | €1,856 | +€1,856 | |
| Gross operating margin | 9900 | €19,671 | €18,405 | -€1,266 | -6.4% |
| Operating profit (loss) | 9901 | €13,103 | €8,026 | -€5,077 | -38.7% |
| Financial income | 75/76B | €95 | €77 | -€18 | -18.9% |
| Recurring financial income | 75 | €95 | €77 | -€18 | -18.9% |
| Financial charges | 65/66B | €867 | €495 | -€372 | -42.9% |
| Recurring financial charges | 65 | €867 | €495 | -€372 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €12,331 | €7,608 | -€4,723 | -38.3% |
| Income taxes | 67/77 | €5,539 | €3,510 | -€2,029 | -36.6% |
| Profit (loss) for the period | 9904 | €6,792 | €4,098 | -€2,694 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,792 | €4,098 | -€2,694 | -39.7% |
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 7 October 2026 via checked.be.