MULTI GROUP: 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 GROUP
Largest movements
- Receivables within one year -€160,577
down €160,577 (-31.1%), from €516,636 to €356,059
of which Trade receivables: -€161,134
- Stocks and contracts -€101,595
down €101,595 (-38.2%), from €266,099 to €164,504
- Cash +€41,287
up €41,287 (+307%), from €13,465 to €54,752
mainly Receivables within one year (+€160,577) and Stocks and contracts (+€101,595)
- Trade debts -€201,654
down €201,654 (-53.4%), from €377,379 to €175,726
- Other debts -€23,818
down €23,818 (-70.3%), from €33,865 to €10,047
- Other operating charges +€4,059
up €4,059 (+69.2%), from €5,870 to €9,929
- Gross operating margin +€1,763
up €1,763 (+2.3%), from €78,325 to €80,088
- Financial charges -€1,719
down €1,719 (-9.6%), from €17,962 to €16,243
of which Non-recurring financial charges: -€1,116
- Taxes -€1,557
down €1,557 (-97.6%), from €1,596 to €39
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.
Derived cash bridge
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 | €796,616 | €575,315 | -€221,300 | -27.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €796,616 | €575,315 | -€221,300 | -27.8% |
| Stocks and contracts in progress | 3 | €266,099 | €164,504 | -€101,595 | -38.2% |
| Stocks | 30/36 | €266,099 | €164,504 | -€101,595 | -38.2% |
| Amounts receivable within one year | 40/41 | €516,636 | €356,059 | -€160,577 | -31.1% |
| Trade receivables | 40 | €511,639 | €350,504 | -€161,134 | -31.5% |
| Other amounts receivable | 41 | €4,997 | €5,554 | +€558 | +11.2% |
| Cash at bank and in hand | 54/58 | €13,465 | €54,752 | +€41,287 | +307% |
| Deferred charges and accrued income | 490/1 | €415 | €0 | -€415 | -100% |
| Total equity and liabilities | 10/49 | €796,616 | €575,315 | -€221,300 | -27.8% |
| Equity | 10/15 | €110,413 | €111,621 | +€1,209 | +1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,593 | €104,801 | +€1,209 | +1.2% |
| Amounts payable | 17/49 | €686,203 | €463,694 | -€222,509 | -32.4% |
| Amounts payable within one year | 42/48 | €686,203 | €463,680 | -€222,523 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 43 | €64,935 | €64,876 | -€59 | -0.1% |
| Credit institutions | 430/8 | €64,935 | €64,876 | -€59 | -0.1% |
| Trade debts | 44 | €377,379 | €175,726 | -€201,654 | -53.4% |
| Suppliers | 440/4 | €377,379 | €175,726 | -€201,654 | -53.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €10,024 | €13,031 | +€3,007 | +30.0% |
| Taxes | 450/3 | €3,219 | €5,387 | +€2,168 | +67.4% |
| Remuneration and social security | 454/9 | €6,805 | €7,644 | +€839 | +12.3% |
| Other amounts payable | 47/48 | €33,865 | €10,047 | -€23,818 | -70.3% |
| Accrued charges and deferred income | 492/3 | - | €14 | +€14 | |
| Non-recurring operating income | 76A | - | €70 | +€70 | |
| Remuneration, social security and pensions | 62 | €47,986 | €47,960 | -€26 | -0.1% |
| Other operating charges | 640/8 | €5,870 | €9,929 | +€4,059 | +69.2% |
| Non-recurring operating charges | 66A | - | €4,709 | +€4,709 | |
| Gross operating margin | 9900 | €78,325 | €80,088 | +€1,763 | +2.3% |
| Operating profit (loss) | 9901 | €24,470 | €17,490 | -€6,980 | -28.5% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €17,962 | €16,243 | -€1,719 | -9.6% |
| Recurring financial charges | 65 | €16,847 | €16,243 | -€604 | -3.6% |
| Non-recurring financial charges | 66B | €1,116 | €0 | -€1,116 | -100% |
| Profit (loss) for the period before taxes | 9903 | €6,515 | €1,247 | -€5,268 | -80.9% |
| Income taxes | 67/77 | €1,596 | €39 | -€1,557 | -97.6% |
| Profit (loss) for the period | 9904 | €4,919 | €1,209 | -€3,711 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,919 | €1,209 | -€3,711 | -75.4% |
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 16 October 2026 via checked.be.