MULTI FINISH: 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 FINISH
Largest movements
- Stocks and contracts +€256,708
new in 2025: €256,708
- Other debts +€262,400
up €262,400 (+64.2%), from €408,929 to €671,329
- Profit (loss) carried forward -€27,431
down €27,431 (-8.9%), from -€307,657 to -€335,089
- Trade debts +€23,505
up €23,505 (+5265.9%), from €446 to €23,951
- Other operating charges +€23,020
up €23,020 (+275.1%), from €8,369 to €31,389
- Gross operating margin -€3,199
down €3,199 (-42.3%), from €7,564 to €4,365
- Depreciation -€1,246
down €1,246 (-87.3%), from €1,428 to €182
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 | €151,545 | €409,930 | +€258,384 | +170.5% |
| Fixed assets | 21/28 | €147,653 | €147,471 | -€182 | -0.1% |
| Tangible fixed assets | 22/27 | €147,653 | €147,471 | -€182 | -0.1% |
| Land and buildings | 22 | €147,653 | €147,471 | -€182 | -0.1% |
| Current assets | 29/58 | €3,892 | €262,459 | +€258,567 | +6642.8% |
| Stocks and contracts in progress | 3 | - | €256,708 | +€256,708 | |
| Stocks | 30/36 | - | €256,708 | +€256,708 | |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,814 | €5,669 | +€1,855 | +48.6% |
| Deferred charges and accrued income | 490/1 | €79 | €83 | +€4 | +4.9% |
| Total equity and liabilities | 10/49 | €151,545 | €409,930 | +€258,384 | +170.5% |
| Equity | 10/15 | -€258,064 | -€285,495 | -€27,431 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,993 | €30,993 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,993 | €30,993 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€307,657 | -€335,089 | -€27,431 | -8.9% |
| Amounts payable | 17/49 | €409,609 | €695,425 | +€285,816 | +69.8% |
| Amounts payable within one year | 42/48 | €409,609 | €695,425 | +€285,816 | +69.8% |
| Trade debts | 44 | €446 | €23,951 | +€23,505 | +5265.9% |
| Suppliers | 440/4 | €446 | €23,951 | +€23,505 | +5265.9% |
| Taxes, remuneration and social security | 45 | €234 | €146 | -€88 | -37.7% |
| Taxes | 450/3 | €234 | €146 | -€88 | -37.7% |
| Other amounts payable | 47/48 | €408,929 | €671,329 | +€262,400 | +64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,428 | €182 | -€1,246 | -87.3% |
| Other operating charges | 640/8 | €8,369 | €31,389 | +€23,020 | +275.1% |
| Gross operating margin | 9900 | €7,564 | €4,365 | -€3,199 | -42.3% |
| Operating profit (loss) | 9901 | -€2,234 | -€27,206 | -€24,972 | -1117.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €194 | €225 | +€31 | +16.2% |
| Recurring financial charges | 65 | €194 | €225 | +€31 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,428 | -€27,431 | -€25,004 | -1030.0% |
| Profit (loss) for the period | 9904 | -€2,428 | -€27,431 | -€25,004 | -1030.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,428 | -€27,431 | -€25,004 | -1030.0% |
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 29 September 2026 via checked.be.