MULTILEVEL PROJECT & TRANSPORT: 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.
MULTILEVEL PROJECT & TRANSPORT
Largest movements
- Receivables within one year -€41,021
down €41,021 (-3.7%), from €1.1m to €1.1m
of which Trade receivables: -€63,936
- Tangible fixed assets -€26,122
down €26,122 (-27.6%), from €94,692 to €68,570
of which Leasing and similar rights: -€25,640
- Trade debts -€34,071
down €34,071 (-4.4%), from €775,165 to €741,094
- Reserves -€26,221
down €26,221 (-5.1%), from €513,242 to €487,022
- Debts after one year -€19,118
down €19,118 (-33.1%), from €57,829 to €38,712
- Gross operating margin -€120,523
down €120,523 (-26.6%), from €453,340 to €332,816
- Financial charges +€24,022
up €24,022 (+280%), from €8,594 to €32,616
of which Non-recurring financial charges: +€25,280
- Taxes -€11,542
down €11,542 (-96.8%), from €11,926 to €384
- Staff costs -€7,915
down €7,915 (-2.6%), from €304,031 to €296,116
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 | €1,514,192 | €1,440,122 | -€74,070 | -4.9% |
| Fixed assets | 21/28 | €96,828 | €70,706 | -€26,122 | -27.0% |
| Tangible fixed assets | 22/27 | €94,692 | €68,570 | -€26,122 | -27.6% |
| Furniture and vehicles | 24 | €923 | €441 | -€482 | -52.2% |
| Leasing and similar rights | 25 | €93,769 | €68,129 | -€25,640 | -27.3% |
| Financial fixed assets | 28 | €2,136 | €2,136 | = | 0.0% |
| Current assets | 29/58 | €1,417,365 | €1,369,416 | -€47,949 | -3.4% |
| Amounts receivable within one year | 40/41 | €1,100,073 | €1,059,052 | -€41,021 | -3.7% |
| Trade receivables | 40 | €1,063,178 | €999,241 | -€63,936 | -6.0% |
| Other amounts receivable | 41 | €36,895 | €59,811 | +€22,916 | +62.1% |
| Cash at bank and in hand | 54/58 | €303,235 | €303,506 | +€271 | +0.1% |
| Deferred charges and accrued income | 490/1 | €14,057 | €6,858 | -€7,199 | -51.2% |
| Total equity and liabilities | 10/49 | €1,514,192 | €1,440,122 | -€74,070 | -4.9% |
| Equity | 10/15 | €531,992 | €505,772 | -€26,221 | -4.9% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €513,242 | €487,022 | -€26,221 | -5.1% |
| Distributable reserves | 133 | €513,242 | €487,022 | -€26,221 | -5.1% |
| Amounts payable | 17/49 | €982,200 | €934,350 | -€47,850 | -4.9% |
| Amounts payable after more than one year | 17 | €57,829 | €38,712 | -€19,118 | -33.1% |
| Financial debts | 170/4 | €57,829 | €38,712 | -€19,118 | -33.1% |
| Amounts payable within one year | 42/48 | €924,371 | €895,554 | -€28,817 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €18,287 | €19,118 | +€831 | +4.5% |
| Trade debts | 44 | €775,165 | €741,094 | -€34,071 | -4.4% |
| Suppliers | 440/4 | €775,165 | €741,094 | -€34,071 | -4.4% |
| Taxes, remuneration and social security | 45 | €32,419 | €36,842 | +€4,424 | +13.6% |
| Taxes | 450/3 | €2,236 | €2,236 | = | 0.0% |
| Remuneration and social security | 454/9 | €30,183 | €34,606 | +€4,424 | +14.7% |
| Other amounts payable | 47/48 | €98,500 | €98,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €85 | +€85 | |
| Non-recurring operating income | 76A | €38 | - | -€38 | |
| Remuneration, social security and pensions | 62 | €304,031 | €296,116 | -€7,915 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,122 | €26,122 | = | 0.0% |
| Other operating charges | 640/8 | €4,451 | €3,896 | -€555 | -12.5% |
| Gross operating margin | 9900 | €453,340 | €332,816 | -€120,523 | -26.6% |
| Operating profit (loss) | 9901 | €118,736 | €6,683 | -€112,054 | -94.4% |
| Financial income | 75/76B | €453 | €97 | -€356 | -78.5% |
| Recurring financial income | 75 | €453 | €97 | -€356 | -78.5% |
| Financial charges | 65/66B | €8,594 | €32,616 | +€24,022 | +280% |
| Recurring financial charges | 65 | €8,594 | €7,336 | -€1,258 | -14.6% |
| Non-recurring financial charges | 66B | - | €25,280 | +€25,280 | |
| Profit (loss) for the period before taxes | 9903 | €110,596 | -€25,836 | -€136,432 | |
| Income taxes | 67/77 | €11,926 | €384 | -€11,542 | -96.8% |
| Profit (loss) for the period | 9904 | €98,669 | -€26,221 | -€124,890 | |
| Profit (loss) for the period to be appropriated | 9905 | €98,669 | -€26,221 | -€124,890 |
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 27 October 2026 via checked.be.