MULTIMEDIUM: 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.
MULTIMEDIUM
Largest movements
- Current investments +€225,169
up €225,169 (+55.3%), from €407,335 to €632,504
- Cash -€152,872
down €152,872 (-34.9%), from €437,936 to €285,064
mainly Contributions, distributions and other (-€273,257) and Current investments (-€225,169)
- Receivables within one year +€115,295
up €115,295 (+52.4%), from €219,835 to €335,130
of which Trade receivables: +€108,172
- Tangible fixed assets -€43,434
down €43,434 (-10.6%), from €408,337 to €364,903
of which Land and buildings: -€35,771
- Reserves +€115,479
up €115,479 (+11.5%), from €1.0m to €1.1m
of which Non-distributable reserves: +€158,175
- Current portion of long-term debt +€32,028
up €32,028 (+102%), from €31,412 to €63,440
- Tax, wage and social debts -€30,551
down €30,551 (-23.9%), from €128,071 to €97,520
of which Taxes: -€43,552
- Debts after one year +€25,449
up €25,449 (+10.1%), from €250,743 to €276,191
- Gross operating margin +€151,121
up €151,121 (+12.7%), from €1.2m to €1.3m
- Staff costs +€101,014
up €101,014 (+15.4%), from €656,045 to €757,059
- Financial income +€61,281
up €61,281 (+697%), from €8,796 to €70,077
- Taxes +€23,033
up €23,033 (+15.6%), from €147,569 to €170,602
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 | €1,550,390 | €1,691,099 | +€140,709 | +9.1% |
| Fixed assets | 21/28 | €416,962 | €368,686 | -€48,276 | -11.6% |
| Intangible fixed assets | 21 | €8,625 | €3,783 | -€4,842 | -56.1% |
| Tangible fixed assets | 22/27 | €408,337 | €364,903 | -€43,434 | -10.6% |
| Land and buildings | 22 | €356,197 | €320,426 | -€35,771 | -10.0% |
| Plant, machinery and equipment | 23 | €2,631 | €2,061 | -€569 | -21.6% |
| Furniture and vehicles | 24 | €49,509 | €42,416 | -€7,093 | -14.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,133,428 | €1,322,413 | +€188,985 | +16.7% |
| Amounts receivable after more than one year | 29 | €35,000 | €35,000 | = | 0.0% |
| Other amounts receivable | 291 | €35,000 | €35,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €16,672 | €18,644 | +€1,971 | +11.8% |
| Contracts in progress | 37 | €16,672 | €18,644 | +€1,971 | +11.8% |
| Amounts receivable within one year | 40/41 | €219,835 | €335,130 | +€115,295 | +52.4% |
| Trade receivables | 40 | €219,835 | €328,007 | +€108,172 | +49.2% |
| Other amounts receivable | 41 | €0 | €7,123 | +€7,123 | |
| Current investments | 50/53 | €407,335 | €632,504 | +€225,169 | +55.3% |
| Cash at bank and in hand | 54/58 | €437,936 | €285,064 | -€152,872 | -34.9% |
| Deferred charges and accrued income | 490/1 | €16,650 | €16,071 | -€579 | -3.5% |
| Total equity and liabilities | 10/49 | €1,550,390 | €1,691,099 | +€140,709 | +9.1% |
| Equity | 10/15 | €1,062,258 | €1,177,738 | +€115,479 | +10.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,002,243 | €1,117,723 | +€115,479 | +11.5% |
| Non-distributable reserves | 130/1 | - | €158,175 | +€158,175 | |
| Own shares acquired | 1312 | - | €158,175 | +€158,175 | |
| Distributable reserves | 133 | €1,002,243 | €959,548 | -€42,696 | -4.3% |
| Profit (loss) carried forward | 14 | €41,465 | €41,465 | = | 0.0% |
| Amounts payable | 17/49 | €488,132 | €513,361 | +€25,230 | +5.2% |
| Amounts payable after more than one year | 17 | €250,743 | €276,191 | +€25,449 | +10.1% |
| Financial debts | 170/4 | €250,743 | €276,191 | +€25,449 | +10.1% |
| Amounts payable within one year | 42/48 | €233,592 | €237,170 | +€3,578 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €31,412 | €63,440 | +€32,028 | +102% |
| Trade debts | 44 | €57,870 | €61,980 | +€4,110 | +7.1% |
| Suppliers | 440/4 | €57,870 | €61,980 | +€4,110 | +7.1% |
| Advances received on contracts in progress | 46 | €14,000 | €13,050 | -€950 | -6.8% |
| Taxes, remuneration and social security | 45 | €128,071 | €97,520 | -€30,551 | -23.9% |
| Taxes | 450/3 | €57,932 | €14,380 | -€43,552 | -75.2% |
| Remuneration and social security | 454/9 | €70,139 | €83,140 | +€13,000 | +18.5% |
| Other amounts payable | 47/48 | €2,238 | €1,180 | -€1,059 | -47.3% |
| Accrued charges and deferred income | 492/3 | €3,797 | €0 | -€3,797 | -100% |
| Non-recurring operating income | 76A | €3,900 | €11,218 | +€7,318 | +188% |
| Remuneration, social security and pensions | 62 | €656,045 | €757,059 | +€101,014 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,898 | €77,162 | -€9,736 | -11.2% |
| Other operating charges | 640/8 | €3,403 | €3,575 | +€172 | +5.1% |
| Non-recurring operating charges | 66A | €919 | €0 | -€919 | -100% |
| Gross operating margin | 9900 | €1,193,267 | €1,344,388 | +€151,121 | +12.7% |
| Operating profit (loss) | 9901 | €446,003 | €506,593 | +€60,589 | +13.6% |
| Financial income | 75/76B | €8,796 | €70,077 | +€61,281 | +697% |
| Recurring financial income | 75 | €8,796 | €70,077 | +€61,281 | +697% |
| Financial charges | 65/66B | €12,747 | €17,331 | +€4,583 | +36.0% |
| Recurring financial charges | 65 | €12,747 | €17,331 | +€4,583 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €442,052 | €559,339 | +€117,287 | +26.5% |
| Income taxes | 67/77 | €147,569 | €170,602 | +€23,033 | +15.6% |
| Profit (loss) for the period | 9904 | €294,483 | €388,737 | +€94,254 | +32.0% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €294,483 | €388,737 | +€94,254 | +32.0% |
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.