MULTI SERV-X: 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 SERV-X
Largest movements
- Tangible fixed assets +€31,515
up €31,515 (+29.2%), from €107,905 to €139,419
of which Other tangible fixed assets: +€20,684
- Cash +€21,455
up €21,455 (+9042.8%), from €237 to €21,692
mainly Trade debts (+€31,502) and Depreciation (+€20,601)
- Receivables within one year -€7,370
down €7,370 (-29.4%), from €25,035 to €17,665
of which Trade receivables: -€3,971
- Trade debts +€31,502
up €31,502 (+80.3%), from €39,224 to €70,726
- Debts after one year +€19,805
new in 2025: €19,805
- Other debts -€17,746
down €17,746 (-72.2%), from €24,586 to €6,840
- Tax, wage and social debts +€5,707
up €5,707 (+71.3%), from €8,000 to €13,707
- Reserves +€4,034
new in 2025: €4,034
- Purchases and services +€149,899
up €149,899 (+93.4%), from €160,453 to €310,352
- Gross operating margin +€13,626
up €13,626 (+55.0%), from €24,776 to €38,401
- Taxes +€4,729
up €4,729 (+65.5%), from €7,216 to €11,945
- Depreciation -€1,974
down €1,974 (-8.7%), from €22,576 to €20,601
- Other operating charges +€827
up €827 (+167.3%), from €494 to €1,321
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 | €134,236 | €180,321 | +€46,085 | +34.3% |
| Fixed assets | 21/28 | €108,425 | €139,939 | +€31,515 | +29.1% |
| Tangible fixed assets | 22/27 | €107,905 | €139,419 | +€31,515 | +29.2% |
| Plant, machinery and equipment | 23 | €6,661 | €5,220 | -€1,440 | -21.6% |
| Furniture and vehicles | 24 | €23,274 | €35,545 | +€12,271 | +52.7% |
| Other tangible fixed assets | 26 | €77,970 | €98,654 | +€20,684 | +26.5% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €25,812 | €40,382 | +€14,570 | +56.4% |
| Stocks and contracts in progress | 3 | €539 | €284 | -€255 | -47.3% |
| Stocks | 30/36 | €539 | €284 | -€255 | -47.3% |
| Amounts receivable within one year | 40/41 | €25,035 | €17,665 | -€7,370 | -29.4% |
| Trade receivables | 40 | €21,601 | €17,630 | -€3,971 | -18.4% |
| Other amounts receivable | 41 | €3,435 | €36 | -€3,399 | -99.0% |
| Cash at bank and in hand | 54/58 | €237 | €21,692 | +€21,455 | +9042.8% |
| Deferred charges and accrued income | 490/1 | - | €741 | +€741 | |
| Total equity and liabilities | 10/49 | €134,236 | €180,321 | +€46,085 | +34.3% |
| Equity | 10/15 | €62,418 | €66,452 | +€4,034 | +6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €4,034 | +€4,034 | |
| Distributable reserves | 133 | - | €4,034 | +€4,034 | |
| Profit (loss) carried forward | 14 | €43,818 | €43,818 | = | 0.0% |
| Amounts payable | 17/49 | €71,818 | €113,869 | +€42,051 | +58.6% |
| Amounts payable after more than one year | 17 | - | €19,805 | +€19,805 | |
| Financial debts | 170/4 | - | €19,805 | +€19,805 | |
| Amounts payable within one year | 42/48 | €71,818 | €94,065 | +€22,247 | +31.0% |
| Financial debts | 43 | €8 | €2,791 | +€2,784 | +36057.1% |
| Credit institutions | 430/8 | €8 | €2,791 | +€2,784 | +36057.1% |
| Trade debts | 44 | €39,224 | €70,726 | +€31,502 | +80.3% |
| Suppliers | 440/4 | €39,224 | €70,726 | +€31,502 | +80.3% |
| Taxes, remuneration and social security | 45 | €8,000 | €13,707 | +€5,707 | +71.3% |
| Taxes | 450/3 | €8,000 | €13,707 | +€5,707 | +71.3% |
| Other amounts payable | 47/48 | €24,586 | €6,840 | -€17,746 | -72.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €160,453 | €310,352 | +€149,899 | +93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,576 | €20,601 | -€1,974 | -8.7% |
| Other operating charges | 640/8 | €494 | €1,321 | +€827 | +167.3% |
| Gross operating margin | 9900 | €24,776 | €38,401 | +€13,626 | +55.0% |
| Operating profit (loss) | 9901 | €1,706 | €16,479 | +€14,773 | +866.1% |
| Financial income | 75/76B | €121 | €77 | -€44 | -36.2% |
| Recurring financial income | 75 | €121 | €77 | -€44 | -36.2% |
| Financial charges | 65/66B | €369 | €578 | +€208 | +56.4% |
| Recurring financial charges | 65 | €369 | €578 | +€208 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €1,457 | €15,978 | +€14,521 | +996.3% |
| Income taxes | 67/77 | €7,216 | €11,945 | +€4,729 | +65.5% |
| Profit (loss) for the period | 9904 | -€5,758 | €4,034 | +€9,792 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,758 | €4,034 | +€9,792 |
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 2 October 2026 via checked.be.