MULTICO: 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.
MULTICO
Largest movements
- Cash +€310,327
up €310,327 (+431,010%), from €72 to €310,399
mainly Net result for the year (+€204,241) and Investment in fixed assets (net) (+€93,216)
- Tangible fixed assets -€93,216
no longer reported in 2025 (was €93,216)
- Profit (loss) carried forward +€128,470
no longer reported in 2025 (was -€128,470)
- Reserves +€75,771
up €75,771 (+668%), from €11,347 to €87,118
of which Distributable reserves: +€75,771
- Tax, wage and social debts +€7,577
new in 2025: €7,577
- Debts after one year +€7,111
up €7,111 (+5.4%), from €132,651 to €139,762
- Gross operating margin +€220,979
up €220,979, from -€6,224 to €214,755
- Taxes +€7,577
new in 2025: €7,577
- Depreciation -€2,624
no longer reported in 2025 (was €2,624)
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 | €93,288 | €310,399 | +€217,112 | +233% |
| Fixed assets | 21/28 | €93,216 | - | -€93,216 | |
| Tangible fixed assets | 22/27 | €93,216 | - | -€93,216 | |
| Land and buildings | 22 | €93,216 | - | -€93,216 | |
| Current assets | 29/58 | €72 | €310,399 | +€310,327 | +431,010% |
| Cash at bank and in hand | 54/58 | €72 | €310,399 | +€310,327 | +431,010% |
| Total equity and liabilities | 10/49 | €93,288 | €310,399 | +€217,112 | +233% |
| Equity | 10/15 | -€42,755 | €161,486 | +€204,241 | |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €11,347 | €87,118 | +€75,771 | +668% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,910 | €3,910 | = | 0.0% |
| Distributable reserves | 133 | - | €75,771 | +€75,771 | |
| Profit (loss) carried forward | 14 | -€128,470 | - | +€128,470 | |
| Amounts payable | 17/49 | €136,043 | €148,913 | +€12,870 | +9.5% |
| Amounts payable after more than one year | 17 | €132,651 | €139,762 | +€7,111 | +5.4% |
| Other amounts payable | 178/9 | €132,651 | €139,762 | +€7,111 | +5.4% |
| Amounts payable within one year | 42/48 | €3,392 | €9,151 | +€5,759 | +170% |
| Trade debts | 44 | €3,392 | €1,574 | -€1,818 | -53.6% |
| Suppliers | 440/4 | €3,392 | €1,574 | -€1,818 | -53.6% |
| Taxes, remuneration and social security | 45 | - | €7,577 | +€7,577 | |
| Taxes | 450/3 | - | €7,577 | +€7,577 | |
| Non-recurring operating income | 76A | - | €216,784 | +€216,784 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,624 | - | -€2,624 | |
| Other operating charges | 640/8 | €3,067 | €2,788 | -€279 | -9.1% |
| Gross operating margin | 9900 | -€6,224 | €214,755 | +€220,979 | |
| Operating profit (loss) | 9901 | -€11,915 | €211,967 | +€223,882 | |
| Financial charges | 65/66B | €70 | €149 | +€79 | +114% |
| Recurring financial charges | 65 | €70 | €149 | +€79 | +114% |
| Profit (loss) for the period before taxes | 9903 | -€11,985 | €211,818 | +€223,803 | |
| Income taxes | 67/77 | - | €7,577 | +€7,577 | |
| Profit (loss) for the period | 9904 | -€11,985 | €204,241 | +€216,226 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,985 | €204,241 | +€216,226 |
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 15 October 2026 via checked.be.