MULTICOR: 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.
MULTICOR
Largest movements
- Tangible fixed assets -€18,161
down €18,161 (-19.9%), from €91,336 to €73,175
of which Land and buildings: -€9,203
- Stocks and contracts +€11,086
up €11,086 (+1.5%), from €760,704 to €771,790
- Tax, wage and social debts +€35,773
up €35,773 (+103.1%), from €34,689 to €70,463
of which Remuneration and social security: +€30,279
- Short-term financial debts -€20,000
down €20,000 (-5.1%), from €390,000 to €370,000
- Trade debts -€16,093
down €16,093 (-9.1%), from €177,637 to €161,544
- Gross operating margin -€35,193
down €35,193 (-18.0%), from €195,370 to €160,177
- Taxes -€9,360
down €9,360 (-69.0%), from €13,572 to €4,212
- Staff costs +€4,915
up €4,915 (+5.4%), from €90,728 to €95,643
- Financial charges -€3,257
down €3,257 (-10.4%), from €31,253 to €27,995
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 | €1,040,201 | €1,034,689 | -€5,512 | -0.5% |
| Fixed assets | 21/28 | €91,336 | €73,175 | -€18,161 | -19.9% |
| Tangible fixed assets | 22/27 | €91,336 | €73,175 | -€18,161 | -19.9% |
| Land and buildings | 22 | €61,032 | €51,829 | -€9,203 | -15.1% |
| Plant, machinery and equipment | 23 | €10,078 | €7,114 | -€2,964 | -29.4% |
| Furniture and vehicles | 24 | €20,225 | €14,231 | -€5,994 | -29.6% |
| Current assets | 29/58 | €948,864 | €961,514 | +€12,649 | +1.3% |
| Stocks and contracts in progress | 3 | €760,704 | €771,790 | +€11,086 | +1.5% |
| Stocks | 30/36 | €760,704 | €771,790 | +€11,086 | +1.5% |
| Amounts receivable within one year | 40/41 | €147,747 | €152,170 | +€4,422 | +3.0% |
| Trade receivables | 40 | €147,429 | €108,506 | -€38,923 | -26.4% |
| Other amounts receivable | 41 | €318 | €43,663 | +€43,345 | +13617.7% |
| Cash at bank and in hand | 54/58 | €36,697 | €36,522 | -€175 | -0.5% |
| Deferred charges and accrued income | 490/1 | €3,716 | €1,033 | -€2,683 | -72.2% |
| Total equity and liabilities | 10/49 | €1,040,201 | €1,034,689 | -€5,512 | -0.5% |
| Equity | 10/15 | €208,863 | €213,707 | +€4,844 | +2.3% |
| Contributions | 10/11 | €62,400 | €62,400 | = | 0.0% |
| Reserves | 13 | €146,463 | €151,307 | +€4,844 | +3.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €127,713 | €132,557 | +€4,844 | +3.8% |
| Amounts payable | 17/49 | €831,338 | €820,981 | -€10,356 | -1.2% |
| Amounts payable after more than one year | 17 | €198,451 | €191,157 | -€7,294 | -3.7% |
| Financial debts | 170/4 | €198,451 | €191,157 | -€7,294 | -3.7% |
| Amounts payable within one year | 42/48 | €632,887 | €629,825 | -€3,062 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €30,561 | €27,819 | -€2,743 | -9.0% |
| Financial debts | 43 | €390,000 | €370,000 | -€20,000 | -5.1% |
| Credit institutions | 430/8 | €390,000 | €370,000 | -€20,000 | -5.1% |
| Trade debts | 44 | €177,637 | €161,544 | -€16,093 | -9.1% |
| Suppliers | 440/4 | €177,637 | €161,544 | -€16,093 | -9.1% |
| Taxes, remuneration and social security | 45 | €34,689 | €70,463 | +€35,773 | +103.1% |
| Taxes | 450/3 | €22,279 | €27,773 | +€5,494 | +24.7% |
| Remuneration and social security | 454/9 | €12,410 | €42,690 | +€30,279 | +244.0% |
| Remuneration, social security and pensions | 62 | €90,728 | €95,643 | +€4,915 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,010 | €24,288 | +€1,277 | +5.6% |
| Other operating charges | 640/8 | €7,735 | €6,554 | -€1,181 | -15.3% |
| Gross operating margin | 9900 | €195,370 | €160,177 | -€35,193 | -18.0% |
| Operating profit (loss) | 9901 | €73,896 | €33,692 | -€40,205 | -54.4% |
| Financial income | 75/76B | €3,317 | €3,360 | +€43 | +1.3% |
| Recurring financial income | 75 | €3,317 | €3,360 | +€43 | +1.3% |
| Financial charges | 65/66B | €31,253 | €27,995 | -€3,257 | -10.4% |
| Recurring financial charges | 65 | €31,253 | €27,995 | -€3,257 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €45,961 | €9,056 | -€36,904 | -80.3% |
| Income taxes | 67/77 | €13,572 | €4,212 | -€9,360 | -69.0% |
| Profit (loss) for the period | 9904 | €32,389 | €4,844 | -€27,544 | -85.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,389 | €4,844 | -€27,544 | -85.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.