MULTINVEST: 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.
MULTINVEST
Largest movements
- Tangible fixed assets +€97,907
up €97,907 (+70.3%), from €139,356 to €237,262
of which Land and buildings: +€120,578
- Cash -€51,684
down €51,684 (-91.4%), from €56,537 to €4,853
mainly Investment in fixed assets (net) (-€132,401) and Receivables within one year (-€46,825)
- Current investments -€50,000
down €50,000 (-100%), from €50,000 to €0
- Receivables within one year +€46,825
up €46,825 (+279%), from €16,772 to €63,596
of which Other amounts receivable: +€43,372
- Other debts +€81,590
up €81,590 (+7,235%), from €1,128 to €82,717
- Profit (loss) carried forward -€38,786
down €38,786 (-2.2%), from €1.7m to €1.7m
- Financial income -€1.1m
down €1.1m (-99.9%), from €1.1m to €908
- Gross operating margin -€19,878
down €19,878, from €17,037 to -€2,841
- Depreciation +€998
up €998 (+3.0%), from €33,496 to €34,494
- Taxes -€695
down €695, from €688 to -€6
- Other operating charges -€637
down €637 (-23.7%), from €2,693 to €2,056
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 | €3,080,493 | €3,124,296 | +€43,804 | +1.4% |
| Fixed assets | 21/28 | €2,955,806 | €3,053,712 | +€97,907 | +3.3% |
| Tangible fixed assets | 22/27 | €139,356 | €237,262 | +€97,907 | +70.3% |
| Land and buildings | 22 | €82,026 | €202,604 | +€120,578 | +147% |
| Furniture and vehicles | 24 | €57,330 | €34,659 | -€22,671 | -39.5% |
| Financial fixed assets | 28 | €2,816,450 | €2,816,450 | = | 0.0% |
| Current assets | 29/58 | €124,687 | €70,584 | -€54,103 | -43.4% |
| Amounts receivable within one year | 40/41 | €16,772 | €63,596 | +€46,825 | +279% |
| Trade receivables | 40 | €10,261 | €13,714 | +€3,453 | +33.6% |
| Other amounts receivable | 41 | €6,511 | €49,883 | +€43,372 | +666% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100% |
| Cash at bank and in hand | 54/58 | €56,537 | €4,853 | -€51,684 | -91.4% |
| Deferred charges and accrued income | 490/1 | €1,378 | €2,134 | +€757 | +54.9% |
| Total equity and liabilities | 10/49 | €3,080,493 | €3,124,296 | +€43,804 | +1.4% |
| Equity | 10/15 | €3,061,887 | €3,023,101 | -€38,786 | -1.3% |
| Contributions | 10/11 | €1,240,000 | €1,240,000 | = | 0.0% |
| Reserves | 13 | €91,200 | €91,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €91,200 | €91,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €91,200 | €91,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,730,687 | €1,691,901 | -€38,786 | -2.2% |
| Amounts payable | 17/49 | €18,606 | €101,196 | +€82,590 | +444% |
| Amounts payable within one year | 42/48 | €17,749 | €100,312 | +€82,563 | +465% |
| Trade debts | 44 | €3,273 | €5,254 | +€1,981 | +60.5% |
| Suppliers | 440/4 | €3,273 | €5,254 | +€1,981 | +60.5% |
| Taxes, remuneration and social security | 45 | €13,349 | €12,340 | -€1,008 | -7.6% |
| Taxes | 450/3 | €13,349 | €12,340 | -€1,008 | -7.6% |
| Other amounts payable | 47/48 | €1,128 | €82,717 | +€81,590 | +7,235% |
| Accrued charges and deferred income | 492/3 | €857 | €884 | +€27 | +3.2% |
| Non-recurring operating income | 76A | €2,480 | €0 | -€2,480 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,496 | €34,494 | +€998 | +3.0% |
| Other operating charges | 640/8 | €2,693 | €2,056 | -€637 | -23.7% |
| Gross operating margin | 9900 | €17,037 | -€2,841 | -€19,878 | |
| Operating profit (loss) | 9901 | -€19,153 | -€39,391 | -€20,239 | -106% |
| Financial income | 75/76B | €1,099,453 | €908 | -€1.1m | -99.9% |
| Recurring financial income | 75 | €1,099,453 | €908 | -€1.1m | -99.9% |
| Financial charges | 65/66B | €286 | €310 | +€24 | +8.5% |
| Recurring financial charges | 65 | €286 | €310 | +€24 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €1,080,014 | -€38,793 | -€1.1m | |
| Income taxes | 67/77 | €688 | -€6 | -€695 | |
| Profit (loss) for the period | 9904 | €1,079,326 | -€38,786 | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,079,326 | -€38,786 | -€1.1m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.