MULTITRADE: 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.
MULTITRADE
Largest movements
- Cash +€5,665
up €5,665 (+63.3%), from €8,947 to €14,612
mainly Net result for the year (+€6,446) and Depreciation (+€2,439)
- Reserves +€6,446
up €6,446 (+40.4%), from €15,941 to €22,387
of which Distributable reserves: +€6,446
- Gross operating margin +€1,504
up €1,504 (+18.4%), from €8,154 to €9,658
- Financial income -€1,229
down €1,229 (-27.6%), from €4,455 to €3,226
- Depreciation +€803
up €803 (+49.1%), from €1,636 to €2,439
- Financial charges +€487
up €487 (+213.4%), from €228 to €716
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 | €125,957 | €131,926 | +€5,969 | +4.7% |
| Fixed assets | 21/28 | €28,449 | €29,236 | +€787 | +2.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €28,449 | €29,236 | +€787 | +2.8% |
| Land and buildings | 22 | €14,874 | €14,874 | = | 0.0% |
| Plant, machinery and equipment | 23 | €13,575 | €14,362 | +€787 | +5.8% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €97,508 | €102,690 | +€5,181 | +5.3% |
| Amounts receivable within one year | 40/41 | €99 | €178 | +€78 | +79.0% |
| Other amounts receivable | 41 | €99 | €178 | +€78 | +79.0% |
| Current investments | 50/53 | €88,462 | €87,900 | -€562 | -0.6% |
| Cash at bank and in hand | 54/58 | €8,947 | €14,612 | +€5,665 | +63.3% |
| Total equity and liabilities | 10/49 | €125,957 | €131,926 | +€5,969 | +4.7% |
| Equity | 10/15 | €124,459 | €130,906 | +€6,446 | +5.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €15,941 | €22,387 | +€6,446 | +40.4% |
| Tax-exempt reserves | 132 | €2,300 | €2,300 | = | 0.0% |
| Distributable reserves | 133 | €13,641 | €20,087 | +€6,446 | +47.3% |
| Profit (loss) carried forward | 14 | €46,518 | €46,518 | = | 0.0% |
| Amounts payable | 17/49 | €1,498 | €1,020 | -€477 | -31.9% |
| Amounts payable within one year | 42/48 | €477 | €60 | -€417 | -87.4% |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Other amounts payable | 47/48 | €90 | €60 | -€29 | -32.8% |
| Accrued charges and deferred income | 492/3 | €1,021 | €960 | -€61 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,636 | €2,439 | +€803 | +49.1% |
| Other operating charges | 640/8 | €2,432 | €2,507 | +€75 | +3.1% |
| Gross operating margin | 9900 | €8,154 | €9,658 | +€1,504 | +18.4% |
| Operating profit (loss) | 9901 | €4,086 | €4,712 | +€626 | +15.3% |
| Financial income | 75/76B | €4,455 | €3,226 | -€1,229 | -27.6% |
| Recurring financial income | 75 | €4,455 | €3,226 | -€1,229 | -27.6% |
| Financial charges | 65/66B | €228 | €716 | +€487 | +213.4% |
| Recurring financial charges | 65 | €228 | €716 | +€487 | +213.4% |
| Profit (loss) for the period before taxes | 9903 | €8,313 | €7,222 | -€1,090 | -13.1% |
| Income taxes | 67/77 | €872 | €776 | -€95 | -11.0% |
| Profit (loss) for the period | 9904 | €7,441 | €6,446 | -€995 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,441 | €6,446 | -€995 | -13.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.