MULTI - STEP: 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 - STEP
Largest movements
- Current investments -€700,000
down €700,000 (-100.0%), from €700,000 to €0
- Cash +€636,460
up €636,460 (+366.3%), from €173,776 to €810,236
mainly Current investments (+€700,000) and Net result for the year (+€553,663)
- Receivables within one year -€178,701
down €178,701 (-29.2%), from €612,148 to €433,447
of which Trade receivables: -€198,595
- Stocks and contracts -€51,355
down €51,355 (-63.7%), from €80,615 to €29,260
- Other debts -€406,000
down €406,000 (-42.3%), from €959,000 to €553,000
- Trade debts +€105,421
up €105,421 (+163.5%), from €64,460 to €169,882
- Gross operating margin +€101,682
up €101,682 (+21.1%), from €482,140 to €583,822
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 | €1,580,490 | €1,280,592 | -€299,898 | -19.0% |
| Fixed assets | 21/28 | €7,599 | €7,649 | +€50 | +0.7% |
| Financial fixed assets | 28 | €7,599 | €7,649 | +€50 | +0.7% |
| Current assets | 29/58 | €1,572,892 | €1,272,943 | -€299,948 | -19.1% |
| Stocks and contracts in progress | 3 | €80,615 | €29,260 | -€51,355 | -63.7% |
| Stocks | 30/36 | €80,615 | €29,260 | -€51,355 | -63.7% |
| Amounts receivable within one year | 40/41 | €612,148 | €433,447 | -€178,701 | -29.2% |
| Trade receivables | 40 | €513,770 | €315,175 | -€198,595 | -38.7% |
| Other amounts receivable | 41 | €98,377 | €118,271 | +€19,894 | +20.2% |
| Current investments | 50/53 | €700,000 | €0 | -€700,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €173,776 | €810,236 | +€636,460 | +366.3% |
| Deferred charges and accrued income | 490/1 | €6,353 | €0 | -€6,353 | -100.0% |
| Total equity and liabilities | 10/49 | €1,580,490 | €1,280,592 | -€299,898 | -19.0% |
| Equity | 10/15 | €557,030 | €557,693 | +€663 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €531,669 | €531,669 | = | 0.0% |
| Tax-exempt reserves | 132 | €183 | €183 | = | 0.0% |
| Distributable reserves | 133 | €531,486 | €531,486 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,761 | €7,423 | +€663 | +9.8% |
| Amounts payable | 17/49 | €1,023,460 | €722,899 | -€300,561 | -29.4% |
| Amounts payable within one year | 42/48 | €1,023,460 | €722,899 | -€300,561 | -29.4% |
| Trade debts | 44 | €64,460 | €169,882 | +€105,421 | +163.5% |
| Suppliers | 440/4 | €64,460 | €169,882 | +€105,421 | +163.5% |
| Taxes, remuneration and social security | 45 | €0 | €18 | +€18 | |
| Taxes | 450/3 | €0 | €18 | +€18 | |
| Other amounts payable | 47/48 | €959,000 | €553,000 | -€406,000 | -42.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €1,294 | €1,126 | -€167 | -12.9% |
| Gross operating margin | 9900 | €482,140 | €583,822 | +€101,682 | +21.1% |
| Operating profit (loss) | 9901 | €480,846 | €582,696 | +€101,850 | +21.2% |
| Financial income | 75/76B | €30,545 | €25,132 | -€5,413 | -17.7% |
| Recurring financial income | 75 | €30,545 | €25,132 | -€5,413 | -17.7% |
| Financial charges | 65/66B | €53,234 | €53,635 | +€401 | +0.8% |
| Recurring financial charges | 65 | €53,234 | €53,635 | +€401 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €458,158 | €554,192 | +€96,035 | +21.0% |
| Income taxes | 67/77 | -€89 | €530 | +€619 | |
| Profit (loss) for the period | 9904 | €458,247 | €553,663 | +€95,415 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €458,247 | €553,663 | +€95,415 | +20.8% |
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 12 October 2026 via checked.be.