MULTI GEMS: 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 GEMS
Largest movements
- Cash -€820,999
down €820,999 (-61.9%), from €1.3m to €504,680
mainly Trade debts (-€660,198) and Net result for the year (-€311,408)
- Receivables within one year -€175,124
down €175,124 (-6.7%), from €2.6m to €2.4m
of which Trade receivables: -€175,062
- Trade debts -€660,198
down €660,198 (-16.5%), from €4.0m to €3.3m
- Profit (loss) carried forward -€311,408
new in 2025: -€311,408
- Gross operating margin -€336,146
down €336,146, from €46,370 to -€289,776
- Staff costs -€11,130
no longer reported in 2025 (was €11,130)
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 | €5,146,680 | €4,157,270 | -€989,410 | -19.2% |
| Fixed assets | 21/28 | €84,685 | €74,256 | -€10,429 | -12.3% |
| Tangible fixed assets | 22/27 | €84,685 | €74,256 | -€10,429 | -12.3% |
| Land and buildings | 22 | €52,201 | €50,231 | -€1,970 | -3.8% |
| Plant, machinery and equipment | 23 | €32,483 | €24,024 | -€8,459 | -26.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | 0.0% |
| Current assets | 29/58 | €5,061,996 | €4,083,014 | -€978,981 | -19.3% |
| Stocks and contracts in progress | 3 | €1,100,842 | €1,133,726 | +€32,884 | +3.0% |
| Stocks | 30/36 | €1,100,842 | €1,133,726 | +€32,884 | +3.0% |
| Amounts receivable within one year | 40/41 | €2,616,986 | €2,441,863 | -€175,124 | -6.7% |
| Trade receivables | 40 | €2,615,232 | €2,440,170 | -€175,062 | -6.7% |
| Other amounts receivable | 41 | €1,754 | €1,692 | -€62 | -3.5% |
| Cash at bank and in hand | 54/58 | €1,325,679 | €504,680 | -€820,999 | -61.9% |
| Deferred charges and accrued income | 490/1 | €18,488 | €2,746 | -€15,742 | -85.1% |
| Total equity and liabilities | 10/49 | €5,146,680 | €4,157,270 | -€989,410 | -19.2% |
| Equity | 10/15 | €1,056,400 | €744,993 | -€311,408 | -29.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,037,800 | €1,037,800 | = | 0.0% |
| Distributable reserves | 133 | €1,037,800 | €1,037,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€311,408 | -€311,408 | |
| Amounts payable | 17/49 | €4,090,280 | €3,412,277 | -€678,002 | -16.6% |
| Amounts payable within one year | 42/48 | €4,090,075 | €3,412,277 | -€677,798 | -16.6% |
| Financial debts | 43 | - | €1,127 | +€1,127 | |
| Credit institutions | 430/8 | - | €1,127 | +€1,127 | |
| Trade debts | 44 | €4,006,081 | €3,345,883 | -€660,198 | -16.5% |
| Suppliers | 440/4 | €4,006,081 | €3,345,883 | -€660,198 | -16.5% |
| Taxes, remuneration and social security | 45 | €17,240 | €31,234 | +€13,994 | +81.2% |
| Taxes | 450/3 | €14,427 | €5,816 | -€8,612 | -59.7% |
| Remuneration and social security | 454/9 | €2,813 | €25,418 | +€22,605 | +803.6% |
| Other amounts payable | 47/48 | €66,754 | €34,034 | -€32,720 | -49.0% |
| Accrued charges and deferred income | 492/3 | €205 | - | -€205 | |
| Remuneration, social security and pensions | 62 | €11,130 | - | -€11,130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,429 | €10,429 | = | 0.0% |
| Other operating charges | 640/8 | €6,653 | €7,147 | +€494 | +7.4% |
| Gross operating margin | 9900 | €46,370 | -€289,776 | -€336,146 | |
| Operating profit (loss) | 9901 | €18,158 | -€307,352 | -€325,510 | |
| Financial income | 75/76B | €3 | €4 | +€1 | +17.0% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +17.0% |
| Financial charges | 65/66B | €5,939 | €3,049 | -€2,890 | -48.7% |
| Recurring financial charges | 65 | €5,939 | €3,049 | -€2,890 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €12,222 | -€310,398 | -€322,620 | |
| Income taxes | 67/77 | €2,888 | €1,010 | -€1,878 | -65.0% |
| Profit (loss) for the period | 9904 | €9,334 | -€311,408 | -€320,742 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,334 | -€311,408 | -€320,742 |
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 1 October 2026 via checked.be.