MULTIMAT: 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.
MULTIMAT
Largest movements
- Cash -€19,615
down €19,615 (-6.5%), from €301,354 to €281,738
mainly Tax, wage and social debts (-€30,880) and Trade debts (-€18,066)
- Tangible fixed assets -€10,563
down €10,563 (-8.3%), from €127,992 to €117,429
- Receivables within one year -€8,020
down €8,020 (-16.6%), from €48,201 to €40,180
of which Trade receivables: -€4,481
- Reserves +€39,788
up €39,788 (+9.3%), from €428,037 to €467,824
- Tax, wage and social debts -€30,880
down €30,880 (-72.9%), from €42,379 to €11,499
- Trade debts -€18,066
down €18,066 (-33.6%), from €53,716 to €35,650
- Other debts -€9,593
down €9,593 (-9.5%), from €101,210 to €91,617
- Current portion of long-term debt -€8,293
down €8,293 (-67.6%), from €12,265 to €3,972
- Gross operating margin -€32,450
down €32,450 (-29.8%), from €108,979 to €76,528
- Financial charges -€9,846
down €9,846 (-64.7%), from €15,223 to €5,377
- Taxes -€6,827
down €6,827 (-30.6%), from €22,315 to €15,488
- Financial income -€6,034
down €6,034 (-85.1%), from €7,087 to €1,054
- Other operating charges -€3,417
down €3,417 (-66.1%), from €5,167 to €1,751
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 | €681,611 | €645,298 | -€36,312 | -5.3% |
| Fixed assets | 21/28 | €129,268 | €118,705 | -€10,563 | -8.2% |
| Tangible fixed assets | 22/27 | €127,992 | €117,429 | -€10,563 | -8.3% |
| Land and buildings | 22 | €99,241 | €94,899 | -€4,342 | -4.4% |
| Plant, machinery and equipment | 23 | €6,035 | €4,803 | -€1,232 | -20.4% |
| Furniture and vehicles | 24 | €22,716 | €17,727 | -€4,989 | -22.0% |
| Financial fixed assets | 28 | €1,277 | €1,277 | = | 0.0% |
| Current assets | 29/58 | €552,342 | €526,593 | -€25,750 | -4.7% |
| Stocks and contracts in progress | 3 | €201,547 | €203,205 | +€1,658 | +0.8% |
| Stocks | 30/36 | €201,547 | €203,205 | +€1,658 | +0.8% |
| Amounts receivable within one year | 40/41 | €48,201 | €40,180 | -€8,020 | -16.6% |
| Trade receivables | 40 | €22,170 | €17,688 | -€4,481 | -20.2% |
| Other amounts receivable | 41 | €26,031 | €22,492 | -€3,539 | -13.6% |
| Cash at bank and in hand | 54/58 | €301,354 | €281,738 | -€19,615 | -6.5% |
| Deferred charges and accrued income | 490/1 | €1,241 | €1,469 | +€228 | +18.4% |
| Total equity and liabilities | 10/49 | €681,611 | €645,298 | -€36,312 | -5.3% |
| Equity | 10/15 | €442,384 | €482,171 | +€39,788 | +9.0% |
| Contributions | 10/11 | €14,347 | €14,347 | = | 0.0% |
| Reserves | 13 | €428,037 | €467,824 | +€39,788 | +9.3% |
| Distributable reserves | 133 | €428,037 | €467,824 | +€39,788 | +9.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €239,227 | €163,127 | -€76,100 | -31.8% |
| Amounts payable after more than one year | 17 | €11,393 | €7,420 | -€3,972 | -34.9% |
| Financial debts | 170/4 | €11,393 | €7,420 | -€3,972 | -34.9% |
| Amounts payable within one year | 42/48 | €216,014 | €149,453 | -€66,561 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €12,265 | €3,972 | -€8,293 | -67.6% |
| Trade debts | 44 | €53,716 | €35,650 | -€18,066 | -33.6% |
| Suppliers | 440/4 | €53,716 | €35,650 | -€18,066 | -33.6% |
| Advances received on contracts in progress | 46 | €6,445 | €6,715 | +€270 | +4.2% |
| Taxes, remuneration and social security | 45 | €42,379 | €11,499 | -€30,880 | -72.9% |
| Taxes | 450/3 | €42,379 | €11,499 | -€30,880 | -72.9% |
| Other amounts payable | 47/48 | €101,210 | €91,617 | -€9,593 | -9.5% |
| Accrued charges and deferred income | 492/3 | €11,820 | €6,254 | -€5,566 | -47.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €185 | €13 | -€172 | -92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,144 | €11,665 | +€521 | +4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,167 | €1,751 | -€3,417 | -66.1% |
| Gross operating margin | 9900 | €108,979 | €76,528 | -€32,450 | -29.8% |
| Operating profit (loss) | 9901 | €92,482 | €63,099 | -€29,383 | -31.8% |
| Financial income | 75/76B | €7,087 | €1,054 | -€6,034 | -85.1% |
| Recurring financial income | 75 | €7,087 | €1,054 | -€6,034 | -85.1% |
| Financial charges | 65/66B | €15,223 | €5,377 | -€9,846 | -64.7% |
| Recurring financial charges | 65 | €15,223 | €5,377 | -€9,846 | -64.7% |
| Profit (loss) for the period before taxes | 9903 | €84,346 | €58,776 | -€25,570 | -30.3% |
| Income taxes | 67/77 | €22,315 | €15,488 | -€6,827 | -30.6% |
| Profit (loss) for the period | 9904 | €62,031 | €43,288 | -€18,744 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,031 | €43,288 | -€18,744 | -30.2% |
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 19 October 2026 via checked.be.