Multi-Stone: 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-Stone
Largest movements
- Cash +€38,333
up €38,333 (+130%), from €29,467 to €67,800
mainly Depreciation (+€35,810) and Net result for the year (+€14,801)
- Tangible fixed assets -€32,152
down €32,152 (-4.4%), from €733,315 to €701,163
of which Land and buildings: -€29,201
- Debts after one year -€20,000
down €20,000 (-5.3%), from €380,000 to €360,000
- Reserves +€14,801
up €14,801 (+10.2%), from €144,838 to €159,639
of which Distributable reserves: +€14,801
- Gross operating margin -€15,783
down €15,783 (-16.8%), from €93,860 to €78,077
- Depreciation -€2,991
down €2,991 (-7.7%), from €38,802 to €35,810
- Staff costs +€1,423
up €1,423 (+6.6%), from €21,581 to €23,004
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 | €837,248 | €837,177 | -€70 | 0.0% |
| Fixed assets | 21/28 | €733,315 | €701,163 | -€32,152 | -4.4% |
| Tangible fixed assets | 22/27 | €733,315 | €701,163 | -€32,152 | -4.4% |
| Land and buildings | 22 | €726,007 | €696,806 | -€29,201 | -4.0% |
| Plant, machinery and equipment | 23 | €3,111 | €4,357 | +€1,247 | +40.1% |
| Other tangible fixed assets | 26 | €4,198 | €0 | -€4,198 | -100% |
| Current assets | 29/58 | €103,933 | €136,015 | +€32,082 | +30.9% |
| Amounts receivable within one year | 40/41 | €67,575 | €61,700 | -€5,875 | -8.7% |
| Trade receivables | 40 | €67,026 | €60,625 | -€6,401 | -9.6% |
| Other amounts receivable | 41 | €549 | €1,075 | +€526 | +95.8% |
| Cash at bank and in hand | 54/58 | €29,467 | €67,800 | +€38,333 | +130% |
| Deferred charges and accrued income | 490/1 | €6,890 | €6,514 | -€376 | -5.5% |
| Total equity and liabilities | 10/49 | €837,248 | €837,177 | -€70 | 0.0% |
| Equity | 10/15 | €369,838 | €384,639 | +€14,801 | +4.0% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €144,838 | €159,639 | +€14,801 | +10.2% |
| Tax-exempt reserves | 132 | €18,250 | €18,250 | = | 0.0% |
| Distributable reserves | 133 | €126,588 | €141,389 | +€14,801 | +11.7% |
| Amounts payable | 17/49 | €467,409 | €452,539 | -€14,871 | -3.2% |
| Amounts payable after more than one year | 17 | €380,000 | €360,000 | -€20,000 | -5.3% |
| Financial debts | 170/4 | €380,000 | €360,000 | -€20,000 | -5.3% |
| Amounts payable within one year | 42/48 | €87,409 | €92,539 | +€5,129 | +5.9% |
| Trade debts | 44 | €4,930 | €4,004 | -€926 | -18.8% |
| Suppliers | 440/4 | €4,930 | €4,004 | -€926 | -18.8% |
| Advances received on contracts in progress | 46 | €72,007 | €73,330 | +€1,323 | +1.8% |
| Taxes, remuneration and social security | 45 | €9,740 | €7,247 | -€2,493 | -25.6% |
| Taxes | 450/3 | €6,057 | €3,077 | -€2,980 | -49.2% |
| Remuneration and social security | 454/9 | €3,683 | €4,170 | +€487 | +13.2% |
| Other amounts payable | 47/48 | €732 | €7,957 | +€7,225 | +987% |
| Remuneration, social security and pensions | 62 | €21,581 | €23,004 | +€1,423 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,802 | €35,810 | -€2,991 | -7.7% |
| Other operating charges | 640/8 | €4,387 | €3,996 | -€391 | -8.9% |
| Gross operating margin | 9900 | €93,860 | €78,077 | -€15,783 | -16.8% |
| Operating profit (loss) | 9901 | €29,090 | €15,266 | -€13,823 | -47.5% |
| Financial income | 75/76B | €29 | €100 | +€71 | +248% |
| Recurring financial income | 75 | €29 | €100 | +€71 | +248% |
| Financial charges | 65/66B | €395 | €216 | -€178 | -45.2% |
| Recurring financial charges | 65 | €395 | €216 | -€178 | -45.2% |
| Profit (loss) for the period before taxes | 9903 | €28,724 | €15,150 | -€13,574 | -47.3% |
| Income taxes | 67/77 | €345 | €350 | +€5 | +1.4% |
| Profit (loss) for the period | 9904 | €28,379 | €14,801 | -€13,579 | -47.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,379 | €14,801 | -€13,579 | -47.8% |
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 30 October 2026 via checked.be.