MULTINVEST: 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.
MULTINVEST
Largest movements
- Receivables within one year -€426,103
down €426,103 (-70.4%), from €605,394 to €179,292
of which Trade receivables: -€454,906
- Cash -€318,856
down €318,856 (-93.7%), from €340,349 to €21,493
mainly Advances received (-€419,201) and Deferred charges and accrued income (-€101,840)
- Deferred charges and accrued income +€101,840
up €101,840 (+20012.2%), from €509 to €102,349
- Tangible fixed assets +€97,193
new in 2025: €97,193
- Advances received -€419,201
down €419,201 (-100.0%), from €419,201 to €0
- Trade debts -€94,210
down €94,210 (-39.0%), from €241,792 to €147,582
- Tax, wage and social debts -€45,067
down €45,067 (-100.0%), from €45,067 to €0
- Gross operating margin -€151,509
down €151,509 (-90.1%), from €168,133 to €16,624
- Taxes -€52,878
down €52,878, from €46,424 to -€6,453
- Other operating charges +€20,477
new in 2025: €20,477
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 | €946,252 | €400,326 | -€545,926 | -57.7% |
| Fixed assets | 21/28 | - | €97,193 | +€97,193 | |
| Tangible fixed assets | 22/27 | - | €97,193 | +€97,193 | |
| Assets under construction and advance payments | 27 | - | €97,193 | +€97,193 | |
| Current assets | 29/58 | €946,252 | €303,134 | -€643,119 | -68.0% |
| Amounts receivable within one year | 40/41 | €605,394 | €179,292 | -€426,103 | -70.4% |
| Trade receivables | 40 | €589,695 | €134,789 | -€454,906 | -77.1% |
| Other amounts receivable | 41 | €15,699 | €44,503 | +€28,804 | +183.5% |
| Cash at bank and in hand | 54/58 | €340,349 | €21,493 | -€318,856 | -93.7% |
| Deferred charges and accrued income | 490/1 | €509 | €102,349 | +€101,840 | +20012.2% |
| Total equity and liabilities | 10/49 | €946,252 | €400,326 | -€545,926 | -57.7% |
| Equity | 10/15 | €240,192 | €244,579 | +€4,387 | +1.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,192 | €224,579 | +€4,387 | +2.0% |
| Amounts payable | 17/49 | €706,061 | €155,747 | -€550,313 | -77.9% |
| Amounts payable within one year | 42/48 | €706,061 | €155,747 | -€550,313 | -77.9% |
| Trade debts | 44 | €241,792 | €147,582 | -€94,210 | -39.0% |
| Suppliers | 440/4 | €241,792 | €147,582 | -€94,210 | -39.0% |
| Advances received on contracts in progress | 46 | €419,201 | €0 | -€419,201 | -100.0% |
| Taxes, remuneration and social security | 45 | €45,067 | €0 | -€45,067 | -100.0% |
| Taxes | 450/3 | €45,067 | €0 | -€45,067 | -100.0% |
| Other amounts payable | 47/48 | €0 | €8,166 | +€8,166 | |
| Other operating charges | 640/8 | - | €20,477 | +€20,477 | |
| Gross operating margin | 9900 | €168,133 | €16,624 | -€151,509 | -90.1% |
| Operating profit (loss) | 9901 | €168,133 | -€3,853 | -€171,986 | |
| Financial income | 75/76B | €5,215 | €4,274 | -€941 | -18.0% |
| Recurring financial income | 75 | €5,215 | €4,274 | -€941 | -18.0% |
| Financial charges | 65/66B | €3,384 | €2,487 | -€897 | -26.5% |
| Recurring financial charges | 65 | €3,384 | €2,487 | -€897 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €169,964 | -€2,066 | -€172,030 | |
| Income taxes | 67/77 | €46,424 | -€6,453 | -€52,878 | |
| Profit (loss) for the period | 9904 | €123,539 | €4,387 | -€119,152 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €123,539 | €4,387 | -€119,152 | -96.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.