MULTI SERVICES ENGINEERING: 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 SERVICES ENGINEERING
Largest movements
- Cash +€754,684
up €754,684 (+269%), from €280,229 to €1.0m
mainly Advances received (+€696,045) and Net result for the year (+€469,421)
- Stocks and contracts +€472,913
up €472,913 (+712%), from €66,400 to €539,313
of which Contracts in progress: +€456,863
- Receivables within one year -€155,408
down €155,408 (-38.2%), from €406,299 to €250,890
of which Trade receivables: -€144,891
- Tangible fixed assets -€24,296
down €24,296 (-16.0%), from €152,169 to €127,873
- Advances received +€696,045
new in 2025: €696,045
- Other debts +€186,149
up €186,149 (+30,268%), from €615 to €186,764
- Reserves +€110,000
up €110,000 (+14.9%), from €740,000 to €850,000
- Trade debts +€53,175
up €53,175 (+124%), from €42,795 to €95,970
- Gross operating margin +€344,873
up €344,873 (+66.1%), from €521,364 to €866,237
- Financial charges +€67,651
up €67,651 (+1,212%), from €5,580 to €73,231
- Taxes +€56,205
up €56,205 (+56.2%), from €100,093 to €156,297
- Staff costs +€48,499
up €48,499 (+60.0%), from €80,837 to €129,335
- Provisions -€36,977
down €36,977 (-81.4%), from €45,439 to €8,462
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 | €921,756 | €1,972,805 | +€1.1m | +114% |
| Fixed assets | 21/28 | €157,881 | €133,058 | -€24,823 | -15.7% |
| Intangible fixed assets | 21 | €2,011 | €1,484 | -€527 | -26.2% |
| Tangible fixed assets | 22/27 | €152,169 | €127,873 | -€24,296 | -16.0% |
| Land and buildings | 22 | €81,795 | €77,370 | -€4,425 | -5.4% |
| Plant, machinery and equipment | 23 | €25,804 | €16,602 | -€9,202 | -35.7% |
| Furniture and vehicles | 24 | €21,592 | €14,138 | -€7,454 | -34.5% |
| Other tangible fixed assets | 26 | €22,979 | €19,764 | -€3,215 | -14.0% |
| Financial fixed assets | 28 | €3,700 | €3,700 | = | 0.0% |
| Current assets | 29/58 | €763,876 | €1,839,747 | +€1.1m | +141% |
| Stocks and contracts in progress | 3 | €66,400 | €539,313 | +€472,913 | +712% |
| Stocks | 30/36 | €66,400 | €82,450 | +€16,050 | +24.2% |
| Contracts in progress | 37 | - | €456,863 | +€456,863 | |
| Amounts receivable within one year | 40/41 | €406,299 | €250,890 | -€155,408 | -38.2% |
| Trade receivables | 40 | €359,095 | €214,204 | -€144,891 | -40.3% |
| Other amounts receivable | 41 | €47,203 | €36,686 | -€10,517 | -22.3% |
| Cash at bank and in hand | 54/58 | €280,229 | €1,034,913 | +€754,684 | +269% |
| Deferred charges and accrued income | 490/1 | €10,948 | €14,631 | +€3,683 | +33.6% |
| Total equity and liabilities | 10/49 | €921,756 | €1,972,805 | +€1.1m | +114% |
| Equity | 10/15 | €775,436 | €879,163 | +€103,727 | +13.4% |
| Contributions | 10/11 | €24,366 | €24,366 | = | 0.0% |
| Reserves | 13 | €740,000 | €850,000 | +€110,000 | +14.9% |
| Distributable reserves | 133 | €740,000 | €850,000 | +€110,000 | +14.9% |
| Profit (loss) carried forward | 14 | €8,859 | €2,876 | -€5,983 | -67.5% |
| Investment grants | 15 | €2,211 | €1,922 | -€290 | -13.1% |
| Provisions and deferred taxes | 16 | €45,439 | €53,901 | +€8,462 | +18.6% |
| Provisions for liabilities and charges | 160/5 | €45,439 | €53,901 | +€8,462 | +18.6% |
| Other liabilities and charges | 164/5 | €45,439 | €53,901 | +€8,462 | +18.6% |
| Amounts payable | 17/49 | €100,881 | €1,039,741 | +€938,860 | +931% |
| Amounts payable after more than one year | 17 | €18,551 | €14,788 | -€3,763 | -20.3% |
| Financial debts | 170/4 | €8,551 | €4,788 | -€3,763 | -44.0% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,656 | €1,024,953 | +€949,297 | +1,255% |
| Current portion of amounts payable after more than one year | 42 | €3,705 | €3,763 | +€59 | +1.6% |
| Trade debts | 44 | €42,795 | €95,970 | +€53,175 | +124% |
| Suppliers | 440/4 | €42,795 | €95,970 | +€53,175 | +124% |
| Advances received on contracts in progress | 46 | - | €696,045 | +€696,045 | |
| Taxes, remuneration and social security | 45 | €28,541 | €42,410 | +€13,869 | +48.6% |
| Taxes | 450/3 | €8,835 | €21,870 | +€13,035 | +148% |
| Remuneration and social security | 454/9 | €19,706 | €20,541 | +€834 | +4.2% |
| Other amounts payable | 47/48 | €615 | €186,764 | +€186,149 | +30,268% |
| Accrued charges and deferred income | 492/3 | €6,674 | - | -€6,674 | |
| Remuneration, social security and pensions | 62 | €80,837 | €129,335 | +€48,499 | +60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,691 | €26,788 | -€3,903 | -12.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €45,439 | €8,462 | -€36,977 | -81.4% |
| Other operating charges | 640/8 | €1,366 | €3,230 | +€1,864 | +136% |
| Gross operating margin | 9900 | €521,364 | €866,237 | +€344,873 | +66.1% |
| Operating profit (loss) | 9901 | €363,032 | €698,421 | +€335,389 | +92.4% |
| Financial income | 75/76B | €1,476 | €528 | -€948 | -64.2% |
| Recurring financial income | 75 | €1,476 | €528 | -€948 | -64.2% |
| Financial charges | 65/66B | €5,580 | €73,231 | +€67,651 | +1,212% |
| Recurring financial charges | 65 | €5,580 | €73,231 | +€67,651 | +1,212% |
| Profit (loss) for the period before taxes | 9903 | €358,928 | €625,718 | +€266,790 | +74.3% |
| Income taxes | 67/77 | €100,093 | €156,297 | +€56,205 | +56.2% |
| Profit (loss) for the period | 9904 | €258,835 | €469,421 | +€210,586 | +81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €258,835 | €469,421 | +€210,586 | +81.4% |
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 23 October 2026 via checked.be.