MULTITEL EXPORT: 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.
MULTITEL EXPORT
Largest movements
- Cash +€59,625
up €59,625 (+202%), from €29,556 to €89,181
- Receivables within one year -€24,411
down €24,411 (-96.2%), from €25,364 to €953
of which Trade receivables: -€23,975
- Tangible fixed assets +€14,955
up €14,955 (+198%), from €7,540 to €22,495
- Profit (loss) carried forward +€55,622
up €55,622 (+263%), from €21,124 to €76,746
- Tax, wage and social debts -€11,390
down €11,390 (-91.9%), from €12,390 to €1,000
of which Remuneration and social security: -€9,632
- Other debts +€5,720
up €5,720 (+67.8%), from €8,435 to €14,155
- Staff costs -€42,399
no longer reported in 2025 (was €42,399)
- Gross operating margin +€27,405
up €27,405 (+148%), from €18,548 to €45,953
- Depreciation +€4,450
up €4,450 (+65.5%), from €6,795 to €11,245
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,460 | €112,629 | +€50,169 | +80.3% |
| Fixed assets | 21/28 | €7,540 | €22,495 | +€14,955 | +198% |
| Tangible fixed assets | 22/27 | €7,540 | €22,495 | +€14,955 | +198% |
| Furniture and vehicles | 24 | €7,540 | €22,495 | +€14,955 | +198% |
| Current assets | 29/58 | €54,920 | €90,134 | +€35,214 | +64.1% |
| Amounts receivable within one year | 40/41 | €25,364 | €953 | -€24,411 | -96.2% |
| Trade receivables | 40 | €23,975 | - | -€23,975 | |
| Other amounts receivable | 41 | €1,389 | €953 | -€436 | -31.4% |
| Cash at bank and in hand | 54/58 | €29,556 | €89,181 | +€59,625 | +202% |
| Total equity and liabilities | 10/49 | €62,460 | €112,629 | +€50,169 | +80.3% |
| Equity | 10/15 | €41,584 | €97,206 | +€55,622 | +134% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,124 | €76,746 | +€55,622 | +263% |
| Amounts payable | 17/49 | €20,876 | €15,423 | -€5,453 | -26.1% |
| Amounts payable within one year | 42/48 | €20,876 | €15,423 | -€5,453 | -26.1% |
| Trade debts | 44 | €51 | €268 | +€217 | +425% |
| Suppliers | 440/4 | €51 | €268 | +€217 | +425% |
| Taxes, remuneration and social security | 45 | €12,390 | €1,000 | -€11,390 | -91.9% |
| Taxes | 450/3 | €1,758 | - | -€1,758 | |
| Remuneration and social security | 454/9 | €10,632 | €1,000 | -€9,632 | -90.6% |
| Other amounts payable | 47/48 | €8,435 | €14,155 | +€5,720 | +67.8% |
| Remuneration, social security and pensions | 62 | €42,399 | - | -€42,399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,795 | €11,245 | +€4,450 | +65.5% |
| Other operating charges | 640/8 | €890 | €568 | -€322 | -36.2% |
| Gross operating margin | 9900 | €18,548 | €45,953 | +€27,405 | +148% |
| Operating profit (loss) | 9901 | -€31,536 | €34,140 | +€65,676 | |
| Financial charges | 65/66B | €276 | €153 | -€123 | -44.6% |
| Recurring financial charges | 65 | €276 | €153 | -€123 | -44.6% |
| Non-recurring financial charges | 66B | - | €153 | +€153 | |
| Profit (loss) for the period before taxes | 9903 | -€31,812 | €33,987 | +€65,799 | |
| Income taxes | 67/77 | €205 | €206 | +€1 | +0.5% |
| Profit (loss) for the period | 9904 | -€32,017 | €33,781 | +€65,798 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,017 | €33,781 | +€65,798 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.