MULTIMARKET: 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.
MULTIMARKET
Largest movements
- Receivables within one year +€797,562
up €797,562 (+274.3%), from €290,716 to €1.1m
of which Other amounts receivable: +€979,580
- Stocks and contracts -€367,223
down €367,223 (-53.0%), from €692,816 to €325,593
- Cash +€35,373
up €35,373 (+1198.9%), from €2,950 to €38,324
mainly Stocks and contracts (+€367,223) and Short-term financial debts (+€229,687)
- Short-term financial debts +€229,687
up €229,687 (+525.1%), from €43,745 to €273,431
- Other debts +€132,234
up €132,234 (+461.9%), from €28,631 to €160,865
- Advances received +€52,455
new in 2025: €52,455
- Trade debts +€44,521
up €44,521 (+10.2%), from €437,382 to €481,903
- Gross operating margin -€91,912
down €91,912 (-27.2%), from €338,134 to €246,222
- Financial charges -€24,943
down €24,943 (-52.5%), from €47,470 to €22,527
- Taxes -€17,354
down €17,354 (-24.1%), from €71,902 to €54,548
- Staff costs -€7,350
down €7,350 (-86.8%), from €8,472 to €1,122
- Financial income -€4,921
down €4,921 (-42.7%), from €11,515 to €6,594
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 | €1,013,255 | €1,474,322 | +€461,066 | +45.5% |
| Fixed assets | 21/28 | €25,263 | €20,500 | -€4,763 | -18.9% |
| Tangible fixed assets | 22/27 | €4,763 | €0 | -€4,763 | -100.0% |
| Furniture and vehicles | 24 | €3,481 | €0 | -€3,481 | -100.0% |
| Other tangible fixed assets | 26 | €1,282 | €0 | -€1,282 | -100.0% |
| Financial fixed assets | 28 | €20,500 | €20,500 | = | 0.0% |
| Current assets | 29/58 | €987,993 | €1,453,822 | +€465,829 | +47.1% |
| Stocks and contracts in progress | 3 | €692,816 | €325,593 | -€367,223 | -53.0% |
| Stocks | 30/36 | €692,816 | €325,593 | -€367,223 | -53.0% |
| Amounts receivable within one year | 40/41 | €290,716 | €1,088,278 | +€797,562 | +274.3% |
| Trade receivables | 40 | €204,626 | €22,607 | -€182,019 | -89.0% |
| Other amounts receivable | 41 | €86,090 | €1,065,670 | +€979,580 | +1137.9% |
| Cash at bank and in hand | 54/58 | €2,950 | €38,324 | +€35,373 | +1198.9% |
| Deferred charges and accrued income | 490/1 | €1,510 | €1,627 | +€117 | +7.7% |
| Total equity and liabilities | 10/49 | €1,013,255 | €1,474,322 | +€461,066 | +45.5% |
| Equity | 10/15 | €503,498 | €505,668 | +€2,170 | +0.4% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €234,898 | €237,068 | +€2,170 | +0.9% |
| Amounts payable | 17/49 | €509,757 | €968,654 | +€458,897 | +90.0% |
| Amounts payable within one year | 42/48 | €509,757 | €968,654 | +€458,897 | +90.0% |
| Financial debts | 43 | €43,745 | €273,431 | +€229,687 | +525.1% |
| Credit institutions | 430/8 | €43,745 | €273,431 | +€229,687 | +525.1% |
| Trade debts | 44 | €437,382 | €481,903 | +€44,521 | +10.2% |
| Suppliers | 440/4 | €437,382 | €481,903 | +€44,521 | +10.2% |
| Advances received on contracts in progress | 46 | - | €52,455 | +€52,455 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €28,631 | €160,865 | +€132,234 | +461.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €8,472 | €1,122 | -€7,350 | -86.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,058 | €4,763 | -€2,295 | -32.5% |
| Other operating charges | 640/8 | €3,514 | €6,822 | +€3,308 | +94.2% |
| Gross operating margin | 9900 | €338,134 | €246,222 | -€91,912 | -27.2% |
| Operating profit (loss) | 9901 | €319,091 | €233,515 | -€85,576 | -26.8% |
| Financial income | 75/76B | €11,515 | €6,594 | -€4,921 | -42.7% |
| Recurring financial income | 75 | €11,515 | €6,594 | -€4,921 | -42.7% |
| Financial charges | 65/66B | €47,470 | €22,527 | -€24,943 | -52.5% |
| Recurring financial charges | 65 | €47,470 | €22,527 | -€24,943 | -52.5% |
| Profit (loss) for the period before taxes | 9903 | €283,136 | €217,582 | -€65,554 | -23.2% |
| Income taxes | 67/77 | €71,902 | €54,548 | -€17,354 | -24.1% |
| Profit (loss) for the period | 9904 | €211,234 | €163,035 | -€48,199 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €211,234 | €163,035 | -€48,199 | -22.8% |
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 4 October 2026 via checked.be.