MULTIFIN: 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.
MULTIFIN
Largest movements
- Receivables within one year +€16,391
up €16,391 (+320%), from €5,127 to €21,518
of which Trade receivables: +€17,550
- Cash -€6,555
down €6,555 (-89.9%), from €7,289 to €734
mainly Receivables within one year (-€16,391) and Investment in fixed assets (net) (-€8,422)
- Deferred charges and accrued income +€1,239
new in 2025: €1,239
- Other debts +€20,773
up €20,773 (+117%), from €17,822 to €38,595
- Current portion of long-term debt -€4,419
no longer reported in 2025 (was €4,419)
- Tax, wage and social debts -€3,315
down €3,315 (-59.3%), from €5,586 to €2,271
of which Remuneration and social security: -€1,877
- Accrued charges and deferred income -€1,641
no longer reported in 2025 (was €1,641)
- Gross operating margin -€18,953
down €18,953 (-41.7%), from €45,412 to €26,459
- Taxes -€5,150
down €5,150 (-91.5%), from €5,630 to €480
- Staff costs -€2,268
down €2,268 (-12.9%), from €17,522 to €15,254
- Financial charges -€2,046
down €2,046 (-79.4%), from €2,577 to €531
- Other operating charges +€1,363
up €1,363 (+139%), from €979 to €2,342
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 | €100,970 | €112,413 | +€11,444 | +11.3% |
| Fixed assets | 21/28 | €88,554 | €88,923 | +€369 | +0.4% |
| Tangible fixed assets | 22/27 | €88,554 | €88,923 | +€369 | +0.4% |
| Land and buildings | 22 | €84,962 | €83,509 | -€1,453 | -1.7% |
| Plant, machinery and equipment | 23 | €3,592 | €2,821 | -€771 | -21.5% |
| Furniture and vehicles | 24 | - | €2,594 | +€2,594 | |
| Current assets | 29/58 | €12,416 | €23,491 | +€11,075 | +89.2% |
| Amounts receivable within one year | 40/41 | €5,127 | €21,518 | +€16,391 | +320% |
| Trade receivables | 40 | €1,650 | €19,200 | +€17,550 | +1,064% |
| Other amounts receivable | 41 | €3,477 | €2,318 | -€1,159 | -33.3% |
| Cash at bank and in hand | 54/58 | €7,289 | €734 | -€6,555 | -89.9% |
| Deferred charges and accrued income | 490/1 | - | €1,239 | +€1,239 | |
| Total equity and liabilities | 10/49 | €100,970 | €112,413 | +€11,444 | +11.3% |
| Equity | 10/15 | €70,451 | €70,526 | +€75 | +0.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €51,046 | €51,121 | +€75 | +0.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €49,186 | €49,262 | +€75 | +0.2% |
| Profit (loss) carried forward | 14 | €813 | €813 | = | 0.0% |
| Amounts payable | 17/49 | €30,519 | €41,887 | +€11,368 | +37.3% |
| Amounts payable within one year | 42/48 | €28,878 | €41,887 | +€13,009 | +45.0% |
| Current portion of amounts payable after more than one year | 42 | €4,419 | - | -€4,419 | |
| Trade debts | 44 | €1,051 | €1,022 | -€30 | -2.8% |
| Suppliers | 440/4 | €1,051 | €1,022 | -€30 | -2.8% |
| Taxes, remuneration and social security | 45 | €5,586 | €2,271 | -€3,315 | -59.3% |
| Taxes | 450/3 | €1,437 | - | -€1,437 | |
| Remuneration and social security | 454/9 | €4,148 | €2,271 | -€1,877 | -45.3% |
| Other amounts payable | 47/48 | €17,822 | €38,595 | +€20,773 | +117% |
| Accrued charges and deferred income | 492/3 | €1,641 | - | -€1,641 | |
| Non-recurring operating income | 76A | - | €100 | +€100 | |
| Remuneration, social security and pensions | 62 | €17,522 | €15,254 | -€2,268 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,110 | €8,053 | +€943 | +13.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€276 | -€276 | |
| Other operating charges | 640/8 | €979 | €2,342 | +€1,363 | +139% |
| Gross operating margin | 9900 | €45,412 | €26,459 | -€18,953 | -41.7% |
| Operating profit (loss) | 9901 | €19,801 | €1,087 | -€18,715 | -94.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,577 | €531 | -€2,046 | -79.4% |
| Recurring financial charges | 65 | €2,577 | €531 | -€2,046 | -79.4% |
| Profit (loss) for the period before taxes | 9903 | €17,225 | €555 | -€16,670 | -96.8% |
| Income taxes | 67/77 | €5,630 | €480 | -€5,150 | -91.5% |
| Profit (loss) for the period | 9904 | €11,595 | €75 | -€11,520 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,595 | €75 | -€11,520 | -99.4% |
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 17 October 2026 via checked.be.