MULTI FLEX: what changed
Two financial 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 FLEX
Largest movements
- Receivables within one year +€13,038
up €13,038 (+100.7%), from €12,948 to €25,987
of which Trade receivables: +€11,537
- Financial fixed assets +€5,000
up €5,000 (+55.6%), from €9,000 to €14,000
- Deferred charges and accrued income -€1,517
no longer reported in 2025 (was €1,517)
- Cash +€1,501
new in 2025: €1,501
mainly Net result for the year (+€19,490) and Tax, wage and social debts (+€11,885)
- Reserves +€19,267
up €19,267 (+320.3%), from €6,015 to €25,282
- Tax, wage and social debts +€11,885
up €11,885 (+200.6%), from €5,925 to €17,810
of which Taxes: +€10,860
- Trade debts -€8,345
down €8,345 (-87.1%), from €9,583 to €1,239
- Other debts -€5,007
no longer reported in 2025 (was €5,007)
- Gross operating margin +€34,928
up €34,928 (+271.8%), from €12,850 to €47,778
- Staff costs +€8,049
up €8,049 (+122.0%), from €6,598 to €14,647
- Taxes +€5,930
up €5,930 (+212.0%), from €2,797 to €8,726
- Other operating charges +€1,107
up €1,107 (+60.1%), from €1,841 to €2,949
- Depreciation -€937
no longer reported in 2025 (was €937)
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 | €26,308 | €44,331 | +€18,022 | +68.5% |
| Fixed assets | 21/28 | €11,843 | €16,843 | +€5,000 | +42.2% |
| Tangible fixed assets | 22/27 | €2,843 | €2,843 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,663 | €1,663 | = | 0.0% |
| Furniture and vehicles | 24 | €1,180 | €1,180 | = | 0.0% |
| Financial fixed assets | 28 | €9,000 | €14,000 | +€5,000 | +55.6% |
| Current assets | 29/58 | €14,465 | €27,487 | +€13,022 | +90.0% |
| Amounts receivable within one year | 40/41 | €12,948 | €25,987 | +€13,038 | +100.7% |
| Trade receivables | 40 | €9,132 | €20,669 | +€11,537 | +126.3% |
| Other amounts receivable | 41 | €3,817 | €5,318 | +€1,501 | +39.3% |
| Cash at bank and in hand | 54/58 | - | €1,501 | +€1,501 | |
| Deferred charges and accrued income | 490/1 | €1,517 | - | -€1,517 | |
| Total equity and liabilities | 10/49 | €26,308 | €44,331 | +€18,022 | +68.5% |
| Equity | 10/15 | €5,793 | €25,282 | +€19,490 | +336.5% |
| Reserves | 13 | €6,015 | €25,282 | +€19,267 | +320.3% |
| Distributable reserves | 133 | €6,015 | €25,282 | +€19,267 | +320.3% |
| Profit (loss) carried forward | 14 | -€223 | - | +€223 | |
| Amounts payable | 17/49 | €20,516 | €19,048 | -€1,467 | -7.2% |
| Amounts payable within one year | 42/48 | €20,516 | €19,048 | -€1,467 | -7.2% |
| Trade debts | 44 | €9,583 | €1,239 | -€8,345 | -87.1% |
| Suppliers | 440/4 | €9,583 | €1,239 | -€8,345 | -87.1% |
| Taxes, remuneration and social security | 45 | €5,925 | €17,810 | +€11,885 | +200.6% |
| Taxes | 450/3 | €4,246 | €15,105 | +€10,860 | +255.8% |
| Remuneration and social security | 454/9 | €1,679 | €2,704 | +€1,025 | +61.0% |
| Other amounts payable | 47/48 | €5,007 | - | -€5,007 | |
| Remuneration, social security and pensions | 62 | €6,598 | €14,647 | +€8,049 | +122.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €937 | - | -€937 | |
| Other operating charges | 640/8 | €1,841 | €2,949 | +€1,107 | +60.1% |
| Gross operating margin | 9900 | €12,850 | €47,778 | +€34,928 | +271.8% |
| Operating profit (loss) | 9901 | €3,474 | €30,182 | +€26,709 | +768.9% |
| Financial income | 75/76B | €341 | - | -€341 | |
| Recurring financial income | 75 | €341 | - | -€341 | |
| Financial charges | 65/66B | €1,240 | €1,966 | +€726 | +58.6% |
| Recurring financial charges | 65 | €1,240 | €1,966 | +€726 | +58.6% |
| Profit (loss) for the period before taxes | 9903 | €2,574 | €28,216 | +€25,642 | +996.1% |
| Income taxes | 67/77 | €2,797 | €8,726 | +€5,930 | +212.0% |
| Profit (loss) for the period | 9904 | -€223 | €19,490 | +€19,712 | |
| Profit (loss) for the period to be appropriated | 9905 | -€223 | €19,490 | +€19,712 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.