MULTIDAL: 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.
MULTIDAL
Largest movements
- Receivables within one year +€130,625
up €130,625 (+37.3%), from €350,629 to €481,255
of which Trade receivables: +€117,764
- Cash +€51,664
up €51,664 (+28.4%), from €181,982 to €233,646
mainly Net result for the year (+€114,451) and Depreciation (+€53,631)
- Tangible fixed assets -€12,864
down €12,864 (-7.8%), from €165,191 to €152,328
of which Leasing and similar rights: -€8,601
- Profit (loss) carried forward +€114,451
up €114,451 (+147.8%), from €77,444 to €191,896
- Trade debts +€44,770
up €44,770 (+16.9%), from €265,346 to €310,116
- Tax, wage and social debts +€15,268
up €15,268 (+41.3%), from €36,970 to €52,238
of which Remuneration and social security: +€15,187
- Debts after one year -€13,656
down €13,656 (-19.5%), from €69,923 to €56,267
- Gross operating margin +€210,715
up €210,715 (+45.6%), from €462,466 to €673,181
- Staff costs +€120,609
up €120,609 (+35.8%), from €337,237 to €457,846
- Taxes +€28,225
up €28,225 (+166.4%), from €16,965 to €45,190
- Depreciation +€9,608
up €9,608 (+21.8%), from €44,022 to €53,631
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 | €710,863 | €880,668 | +€169,805 | +23.9% |
| Formation expenses | 20 | €1,239 | €859 | -€381 | -30.7% |
| Fixed assets | 21/28 | €171,554 | €158,691 | -€12,864 | -7.5% |
| Tangible fixed assets | 22/27 | €165,191 | €152,328 | -€12,864 | -7.8% |
| Plant, machinery and equipment | 23 | €43,664 | €42,226 | -€1,438 | -3.3% |
| Furniture and vehicles | 24 | €11,719 | €8,894 | -€2,825 | -24.1% |
| Leasing and similar rights | 25 | €109,808 | €101,207 | -€8,601 | -7.8% |
| Financial fixed assets | 28 | €6,363 | €6,363 | = | 0.0% |
| Current assets | 29/58 | €538,069 | €721,119 | +€183,050 | +34.0% |
| Amounts receivable within one year | 40/41 | €350,629 | €481,255 | +€130,625 | +37.3% |
| Trade receivables | 40 | €325,765 | €443,529 | +€117,764 | +36.1% |
| Other amounts receivable | 41 | €24,864 | €37,725 | +€12,862 | +51.7% |
| Cash at bank and in hand | 54/58 | €181,982 | €233,646 | +€51,664 | +28.4% |
| Deferred charges and accrued income | 490/1 | €5,458 | €6,218 | +€760 | +13.9% |
| Total equity and liabilities | 10/49 | €710,863 | €880,668 | +€169,805 | +23.9% |
| Equity | 10/15 | €277,444 | €391,896 | +€114,451 | +41.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,444 | €191,896 | +€114,451 | +147.8% |
| Amounts payable | 17/49 | €433,419 | €488,773 | +€55,354 | +12.8% |
| Amounts payable after more than one year | 17 | €69,923 | €56,267 | -€13,656 | -19.5% |
| Financial debts | 170/4 | €69,923 | €56,267 | -€13,656 | -19.5% |
| Amounts payable within one year | 42/48 | €363,496 | €432,506 | +€69,009 | +19.0% |
| Current portion of amounts payable after more than one year | 42 | €32,692 | €36,434 | +€3,742 | +11.4% |
| Financial debts | 43 | €28,488 | €33,717 | +€5,229 | +18.4% |
| Credit institutions | 430/8 | €28,488 | €33,717 | +€5,229 | +18.4% |
| Trade debts | 44 | €265,346 | €310,116 | +€44,770 | +16.9% |
| Suppliers | 440/4 | €265,346 | €310,116 | +€44,770 | +16.9% |
| Taxes, remuneration and social security | 45 | €36,970 | €52,238 | +€15,268 | +41.3% |
| Taxes | 450/3 | €0 | €81 | +€81 | |
| Remuneration and social security | 454/9 | €36,970 | €52,157 | +€15,187 | +41.1% |
| Remuneration, social security and pensions | 62 | €337,237 | €457,846 | +€120,609 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,022 | €53,631 | +€9,608 | +21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,309 | +€1,309 | |
| Other operating charges | 640/8 | €5,431 | €6,769 | +€1,338 | +24.6% |
| Gross operating margin | 9900 | €462,466 | €673,181 | +€210,715 | +45.6% |
| Operating profit (loss) | 9901 | €75,775 | €153,626 | +€77,851 | +102.7% |
| Financial income | 75/76B | €12,671 | €13,953 | +€1,282 | +10.1% |
| Recurring financial income | 75 | €12,671 | €13,953 | +€1,282 | +10.1% |
| Financial charges | 65/66B | €8,038 | €7,938 | -€100 | -1.2% |
| Recurring financial charges | 65 | €8,038 | €7,938 | -€100 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €80,409 | €159,641 | +€79,232 | +98.5% |
| Income taxes | 67/77 | €16,965 | €45,190 | +€28,225 | +166.4% |
| Profit (loss) for the period | 9904 | €63,444 | €114,451 | +€51,007 | +80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,444 | €114,451 | +€51,007 | +80.4% |
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 28 September 2026 via checked.be.