Multicold: 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.
Multicold
Largest movements
- Cash +€1.2m
up €1.2m (+59.6%), from €2.0m to €3.2m
mainly Receivables within one year (+€930,140) and Depreciation (+€159,385)
- Receivables within one year -€930,140
down €930,140 (-36.8%), from €2.5m to €1.6m
of which Other amounts receivable: -€1.0m
- Tangible fixed assets -€147,639
down €147,639 (-6.9%), from €2.1m to €2.0m
of which Land and buildings: -€100,882
- Reserves +€131,269
up €131,269 (+2.1%), from €6.3m to €6.4m
of which Distributable reserves: +€190,871
- Financial income -€63,767
down €63,767 (-54.5%), from €116,973 to €53,206
- Gross operating margin +€44,041
up €44,041 (+16.3%), from €269,454 to €313,496
- Depreciation -€4,341
down €4,341 (-2.7%), from €163,726 to €159,385
- Taxes -€4,224
down €4,224 (-6.2%), from €67,848 to €63,624
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.
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 | €6,693,192 | €6,817,643 | +€124,450 | +1.9% |
| Fixed assets | 21/28 | €2,146,434 | €1,998,795 | -€147,639 | -6.9% |
| Tangible fixed assets | 22/27 | €2,146,152 | €1,998,512 | -€147,639 | -6.9% |
| Land and buildings | 22 | €1,055,251 | €954,368 | -€100,882 | -9.6% |
| Plant, machinery and equipment | 23 | €68,830 | €60,905 | -€7,925 | -11.5% |
| Other tangible fixed assets | 26 | €1,022,071 | €971,494 | -€50,577 | -4.9% |
| Assets under construction and advance payments | 27 | - | €11,746 | +€11,746 | |
| Financial fixed assets | 28 | €282 | €282 | = | 0.0% |
| Current assets | 29/58 | €4,546,758 | €4,818,848 | +€272,090 | +6.0% |
| Amounts receivable within one year | 40/41 | €2,528,564 | €1,598,424 | -€930,140 | -36.8% |
| Trade receivables | 40 | €18,513 | €94,351 | +€75,838 | +409.7% |
| Other amounts receivable | 41 | €2,510,051 | €1,504,073 | -€1.0m | -40.1% |
| Cash at bank and in hand | 54/58 | €2,018,194 | €3,220,424 | +€1.2m | +59.6% |
| Total equity and liabilities | 10/49 | €6,693,192 | €6,817,643 | +€124,450 | +1.9% |
| Equity | 10/15 | €6,508,742 | €6,640,011 | +€131,269 | +2.0% |
| Contributions | 10/11 | €248,000 | €248,000 | = | 0.0% |
| Capital | 10 | €248,000 | €248,000 | = | 0.0% |
| Issued capital | 100 | €248,000 | €248,000 | = | 0.0% |
| Reserves | 13 | €6,260,742 | €6,392,011 | +€131,269 | +2.1% |
| Non-distributable reserves | 130/1 | €24,800 | €24,800 | = | 0.0% |
| Legal reserve | 130 | €24,800 | €24,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €522,690 | €463,088 | -€59,602 | -11.4% |
| Distributable reserves | 133 | €5,713,252 | €5,904,123 | +€190,871 | +3.3% |
| Provisions and deferred taxes | 16 | €152,552 | €132,685 | -€19,867 | -13.0% |
| Deferred taxes | 168 | €152,552 | €132,685 | -€19,867 | -13.0% |
| Amounts payable | 17/49 | €31,898 | €44,947 | +€13,049 | +40.9% |
| Amounts payable within one year | 42/48 | €31,081 | €44,130 | +€13,049 | +42.0% |
| Trade debts | 44 | €28,478 | €38,428 | +€9,949 | +34.9% |
| Suppliers | 440/4 | €28,478 | €38,428 | +€9,949 | +34.9% |
| Taxes, remuneration and social security | 45 | - | €3,100 | +€3,100 | |
| Taxes | 450/3 | - | €3,100 | +€3,100 | |
| Other amounts payable | 47/48 | €2,603 | €2,603 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €817 | €817 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,726 | €159,385 | -€4,341 | -2.7% |
| Other operating charges | 640/8 | €30,109 | €31,619 | +€1,511 | +5.0% |
| Gross operating margin | 9900 | €269,454 | €313,496 | +€44,041 | +16.3% |
| Operating profit (loss) | 9901 | €75,620 | €122,492 | +€46,872 | +62.0% |
| Financial income | 75/76B | €116,973 | €53,206 | -€63,767 | -54.5% |
| Recurring financial income | 75 | €116,973 | €53,206 | -€63,767 | -54.5% |
| Financial charges | 65/66B | €671 | €673 | +€1 | +0.2% |
| Recurring financial charges | 65 | €671 | €673 | +€1 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €191,922 | €175,025 | -€16,896 | -8.8% |
| Transfer from deferred taxes | 780 | €19,867 | €19,867 | +€0 | 0.0% |
| Income taxes | 67/77 | €67,848 | €63,624 | -€4,224 | -6.2% |
| Profit (loss) for the period | 9904 | €143,941 | €131,269 | -€12,672 | -8.8% |
| Transfer from tax-exempt reserves | 789 | €59,602 | €59,602 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €203,543 | €190,871 | -€12,672 | -6.2% |
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.