Multi-Sun: 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-Sun
Largest movements
- Tangible fixed assets -€914,274
down €914,274 (-51.1%), from €1.8m to €875,005
of which Land and buildings: -€911,809
- Receivables after one year +€150,000
new in 2025: €150,000
- Debts after one year -€1.1m
down €1.1m (-57.4%), from €1.8m to €786,933
of which Financial debts: -€1.0m
- Reserves +€191,857
up €191,857 (+7739.3%), from €2,479 to €194,336
of which Distributable reserves: +€191,857
- Profit (loss) carried forward +€76,385
no longer reported in 2025 (was -€76,385)
- Tax, wage and social debts +€27,959
up €27,959 (+68192.7%), from €41 to €28,000
- Gross operating margin +€341,696
up €341,696 (+1190.5%), from €28,703 to €370,399
- Taxes +€43,000
new in 2025: €43,000
- Financial charges -€34,188
down €34,188 (-53.3%), from €64,144 to €29,956
- Depreciation +€5,430
up €5,430 (+29.8%), from €18,233 to €23,663
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 | €1,821,546 | €1,058,970 | -€762,576 | -41.9% |
| Fixed assets | 21/28 | €1,789,279 | €875,005 | -€914,274 | -51.1% |
| Tangible fixed assets | 22/27 | €1,789,279 | €875,005 | -€914,274 | -51.1% |
| Land and buildings | 22 | €1,727,809 | €816,000 | -€911,809 | -52.8% |
| Plant, machinery and equipment | 23 | €14,279 | €22,499 | +€8,220 | +57.6% |
| Furniture and vehicles | 24 | €47,191 | €36,506 | -€10,685 | -22.6% |
| Current assets | 29/58 | €32,267 | €183,965 | +€151,698 | +470.1% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Other amounts receivable | 291 | - | €150,000 | +€150,000 | |
| Stocks and contracts in progress | 3 | €29,026 | €30,617 | +€1,591 | +5.5% |
| Stocks | 30/36 | €29,026 | €30,617 | +€1,591 | +5.5% |
| Amounts receivable within one year | 40/41 | €38 | €351 | +€313 | +823.7% |
| Trade receivables | 40 | €38 | €60 | +€22 | +57.9% |
| Other amounts receivable | 41 | - | €291 | +€291 | |
| Current investments | 50/53 | €474 | - | -€474 | |
| Cash at bank and in hand | 54/58 | €64 | €2,210 | +€2,146 | +3353.1% |
| Deferred charges and accrued income | 490/1 | €2,665 | €787 | -€1,878 | -70.5% |
| Total equity and liabilities | 10/49 | €1,821,546 | €1,058,970 | -€762,576 | -41.9% |
| Equity | 10/15 | -€49,117 | €219,125 | +€268,242 | |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €2,479 | €194,336 | +€191,857 | +7739.3% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | - | €191,857 | +€191,857 | |
| Profit (loss) carried forward | 14 | -€76,385 | - | +€76,385 | |
| Amounts payable | 17/49 | €1,870,663 | €839,845 | -€1.0m | -55.1% |
| Amounts payable after more than one year | 17 | €1,848,051 | €786,933 | -€1.1m | -57.4% |
| Financial debts | 170/4 | €1,044,983 | €21,775 | -€1.0m | -97.9% |
| Other amounts payable | 178/9 | €803,068 | €765,158 | -€37,910 | -4.7% |
| Amounts payable within one year | 42/48 | €22,612 | €52,912 | +€30,300 | +134.0% |
| Current portion of amounts payable after more than one year | 42 | €22,057 | €23,208 | +€1,151 | +5.2% |
| Trade debts | 44 | - | €19 | +€19 | |
| Suppliers | 440/4 | - | €19 | +€19 | |
| Advances received on contracts in progress | 46 | €352 | €400 | +€48 | +13.6% |
| Taxes, remuneration and social security | 45 | €41 | €28,000 | +€27,959 | +68192.7% |
| Taxes | 450/3 | €41 | €28,000 | +€27,959 | +68192.7% |
| Other amounts payable | 47/48 | €162 | €1,285 | +€1,123 | +693.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,233 | €23,663 | +€5,430 | +29.8% |
| Other operating charges | 640/8 | €2,664 | €5,538 | +€2,874 | +107.9% |
| Gross operating margin | 9900 | €28,703 | €370,399 | +€341,696 | +1190.5% |
| Operating profit (loss) | 9901 | €7,806 | €341,198 | +€333,392 | +4271.0% |
| Financial income | 75/76B | €3,417 | - | -€3,417 | |
| Recurring financial income | 75 | €540 | - | -€540 | |
| Non-recurring financial income | 76B | €2,877 | - | -€2,877 | |
| Financial charges | 65/66B | €64,144 | €29,956 | -€34,188 | -53.3% |
| Recurring financial charges | 65 | €64,144 | €29,956 | -€34,188 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | -€52,921 | €311,242 | +€364,163 | |
| Transfer from deferred taxes | 780 | €59,954 | - | -€59,954 | |
| Income taxes | 67/77 | - | €43,000 | +€43,000 | |
| Profit (loss) for the period | 9904 | €7,033 | €268,242 | +€261,209 | +3714.0% |
| Transfer from tax-exempt reserves | 789 | €71,561 | - | -€71,561 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,594 | €268,242 | +€189,648 | +241.3% |
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 7 October 2026 via checked.be.