MULTITOP: 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.
MULTITOP
Largest movements
- Tangible fixed assets -€140,318
down €140,318 (-8.3%), from €1.7m to €1.5m
of which Land and buildings: -€115,644
- Cash +€115,570
up €115,570 (+392.9%), from €29,417 to €144,987
mainly Depreciation (+€147,669) and Tax, wage and social debts (+€11,012)
- Other debts -€41,580
down €41,580 (-8.2%), from €507,299 to €465,718
- Gross operating margin -€323,778
down €323,778 (-60.2%), from €537,849 to €214,071
- Depreciation -€102,672
down €102,672 (-41.0%), from €250,341 to €147,669
- Taxes -€46,542
down €46,542 (-91.3%), from €50,977 to €4,434
- Other operating charges -€12,209
down €12,209 (-45.8%), from €26,665 to €14,455
- Financial charges -€10,973
down €10,973 (-23.0%), from €47,810 to €36,837
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,778,595 | €1,754,163 | -€24,432 | -1.4% |
| Fixed assets | 21/28 | €1,687,619 | €1,547,302 | -€140,318 | -8.3% |
| Tangible fixed assets | 22/27 | €1,687,619 | €1,547,302 | -€140,318 | -8.3% |
| Land and buildings | 22 | €1,602,007 | €1,486,363 | -€115,644 | -7.2% |
| Plant, machinery and equipment | 23 | €16,730 | €12,730 | -€4,000 | -23.9% |
| Furniture and vehicles | 24 | €68,883 | €48,209 | -€20,674 | -30.0% |
| Current assets | 29/58 | €90,975 | €206,861 | +€115,886 | +127.4% |
| Stocks and contracts in progress | 3 | - | €1,311 | +€1,311 | |
| Stocks | 30/36 | - | €1,311 | +€1,311 | |
| Amounts receivable within one year | 40/41 | €54,801 | €49,932 | -€4,869 | -8.9% |
| Trade receivables | 40 | €24,740 | €34,501 | +€9,761 | +39.5% |
| Other amounts receivable | 41 | €30,061 | €15,431 | -€14,630 | -48.7% |
| Cash at bank and in hand | 54/58 | €29,417 | €144,987 | +€115,570 | +392.9% |
| Deferred charges and accrued income | 490/1 | €6,758 | €10,631 | +€3,873 | +57.3% |
| Total equity and liabilities | 10/49 | €1,778,595 | €1,754,163 | -€24,432 | -1.4% |
| Equity | 10/15 | €1,208,313 | €1,219,047 | +€10,735 | +0.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,189,763 | €1,200,497 | +€10,735 | +0.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €462 | €462 | = | 0.0% |
| Distributable reserves | 133 | €1,189,300 | €1,200,035 | +€10,735 | +0.9% |
| Amounts payable | 17/49 | €570,282 | €535,116 | -€35,166 | -6.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €526,495 | €496,418 | -€30,077 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €7,155 | €7,646 | +€491 | +6.9% |
| Suppliers | 440/4 | €7,155 | €7,646 | +€491 | +6.9% |
| Taxes, remuneration and social security | 45 | €12,042 | €23,054 | +€11,012 | +91.5% |
| Taxes | 450/3 | €12,042 | €20,254 | +€8,212 | +68.2% |
| Remuneration and social security | 454/9 | - | €2,800 | +€2,800 | |
| Other amounts payable | 47/48 | €507,299 | €465,718 | -€41,580 | -8.2% |
| Accrued charges and deferred income | 492/3 | €43,787 | €38,697 | -€5,090 | -11.6% |
| Non-recurring operating income | 76A | €1,800 | €0 | -€1,800 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250,341 | €147,669 | -€102,672 | -41.0% |
| Other operating charges | 640/8 | €26,665 | €14,455 | -€12,209 | -45.8% |
| Gross operating margin | 9900 | €537,849 | €214,071 | -€323,778 | -60.2% |
| Operating profit (loss) | 9901 | €260,844 | €51,947 | -€208,897 | -80.1% |
| Financial income | 75/76B | €9 | €59 | +€50 | +580.7% |
| Recurring financial income | 75 | €9 | €59 | +€50 | +580.7% |
| Financial charges | 65/66B | €47,810 | €36,837 | -€10,973 | -23.0% |
| Recurring financial charges | 65 | €47,810 | €36,837 | -€10,973 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €213,043 | €15,169 | -€197,874 | -92.9% |
| Income taxes | 67/77 | €50,977 | €4,434 | -€46,542 | -91.3% |
| Profit (loss) for the period | 9904 | €162,066 | €10,735 | -€151,331 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €162,066 | €10,735 | -€151,331 | -93.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.