MULTI - INVEST: 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 - INVEST
Largest movements
- Cash -€340,314
down €340,314 (-48.0%), from €708,911 to €368,597
mainly Debts after one year (-€416,773) and Trade debts (-€56,729)
- Receivables within one year -€74,040
down €74,040 (-34.3%), from €215,673 to €141,633
of which Other amounts receivable: -€60,809
- Tangible fixed assets -€69,923
down €69,923 (-3.6%), from €2.0m to €1.9m
of which Land and buildings: -€57,987
- Debts after one year -€416,773
down €416,773 (-33.4%), from €1.2m to €831,557
of which Other amounts payable: -€340,706
- Trade debts -€56,729
down €56,729 (-55.8%), from €101,697 to €44,968
- Gross operating margin -€7,246
down €7,246 (-2.8%), from €260,207 to €252,961
- Staff costs +€6,097
up €6,097 (+4.3%), from €141,443 to €147,540
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,888,445 | €2,405,012 | -€483,433 | -16.7% |
| Fixed assets | 21/28 | €1,962,648 | €1,892,724 | -€69,923 | -3.6% |
| Tangible fixed assets | 22/27 | €1,962,648 | €1,892,724 | -€69,923 | -3.6% |
| Land and buildings | 22 | €1,948,406 | €1,890,419 | -€57,987 | -3.0% |
| Plant, machinery and equipment | 23 | €12,697 | €597 | -€12,100 | -95.3% |
| Furniture and vehicles | 24 | €1,544 | €1,708 | +€164 | +10.6% |
| Current assets | 29/58 | €925,798 | €512,288 | -€413,510 | -44.7% |
| Amounts receivable within one year | 40/41 | €215,673 | €141,633 | -€74,040 | -34.3% |
| Trade receivables | 40 | €13,230 | €0 | -€13,230 | -100% |
| Other amounts receivable | 41 | €202,442 | €141,633 | -€60,809 | -30.0% |
| Cash at bank and in hand | 54/58 | €708,911 | €368,597 | -€340,314 | -48.0% |
| Deferred charges and accrued income | 490/1 | €1,214 | €2,057 | +€843 | +69.5% |
| Total equity and liabilities | 10/49 | €2,888,445 | €2,405,012 | -€483,433 | -16.7% |
| Equity | 10/15 | €1,443,353 | €1,427,858 | -€15,494 | -1.1% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €183,000 | €183,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €143,000 | €143,000 | = | 0.0% |
| Legal reserve | 130 | €143,000 | €143,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €610,353 | €594,858 | -€15,494 | -2.5% |
| Amounts payable | 17/49 | €1,445,093 | €977,154 | -€467,939 | -32.4% |
| Amounts payable after more than one year | 17 | €1,248,329 | €831,557 | -€416,773 | -33.4% |
| Financial debts | 170/4 | €907,624 | €831,557 | -€76,067 | -8.4% |
| Other amounts payable | 178/9 | €340,706 | €0 | -€340,706 | -100% |
| Amounts payable within one year | 42/48 | €196,763 | €145,597 | -€51,166 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €74,859 | €76,067 | +€1,208 | +1.6% |
| Trade debts | 44 | €101,697 | €44,968 | -€56,729 | -55.8% |
| Suppliers | 440/4 | €101,697 | €44,968 | -€56,729 | -55.8% |
| Taxes, remuneration and social security | 45 | €20,208 | €24,562 | +€4,355 | +21.5% |
| Taxes | 450/3 | €0 | €3,459 | +€3,459 | |
| Remuneration and social security | 454/9 | €20,208 | €21,103 | +€896 | +4.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €141,443 | €147,540 | +€6,097 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,301 | €89,351 | +€1,049 | +1.2% |
| Other operating charges | 640/8 | €16,892 | €17,250 | +€357 | +2.1% |
| Gross operating margin | 9900 | €260,207 | €252,961 | -€7,246 | -2.8% |
| Operating profit (loss) | 9901 | €13,570 | -€1,180 | -€14,750 | |
| Financial income | 75/76B | €3,073 | €1,504 | -€1,569 | -51.1% |
| Recurring financial income | 75 | €3,073 | €1,504 | -€1,569 | -51.1% |
| Financial charges | 65/66B | €16,464 | €15,368 | -€1,096 | -6.7% |
| Recurring financial charges | 65 | €16,464 | €15,368 | -€1,096 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €179 | -€15,043 | -€15,223 | |
| Income taxes | 67/77 | €706 | €451 | -€255 | -36.1% |
| Profit (loss) for the period | 9904 | -€527 | -€15,494 | -€14,968 | -2,841% |
| Profit (loss) for the period to be appropriated | 9905 | -€527 | -€15,494 | -€14,968 | -2,841% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.