MULTITUBES BELGIUM: 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.
What changed
MULTITUBES BELGIUM
NACE 22.210, Manufacture of rubber and plastic products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€106,516
2024 · €243,935-€137,419
Equity
€4.2m
2024 · €3.5m+€679,556
Cash
€419,395
2024 · €349,743+€69,652
Balance sheet total
€13.8m
2024 · €13.1m+€727,915
Largest movements
Assets
- Tangible fixed assets +€453,493
up €453,493 (+4.7%), from €9.7m to €10.2m
of which Plant, machinery and equipment: +€705,323
- Receivables within one year +€352,527
up €352,527 (+65.8%), from €535,402 to €887,929
of which Trade receivables: +€248,453
- Stocks and contracts -€148,525
down €148,525 (-6.1%), from €2.4m to €2.3m
Equity and liabilities
- Investment grants +€573,040
new in 2025: €573,040
- Other debts -€494,265
down €494,265 (-46.3%), from €1.1m to €572,300
- Debts after one year +€280,506
up €280,506 (+4.6%), from €6.1m to €6.4m
- Current portion of long-term debt -€203,875
down €203,875 (-74.9%), from €272,128 to €68,253
- Trade debts +€178,272
up €178,272 (+23.3%), from €765,424 to €943,696
Income statement
- Turnover +€818,654
up €818,654 (+6.1%), from €13.5m to €14.3m
- Depreciation +€697,184
up €697,184 (+141.9%), from €491,153 to €1.2m
- Staff costs +€466,253
up €466,253 (+11.2%), from €4.2m to €4.6m
- Financial charges +€246,321
up €246,321 (+323.5%), from €76,153 to €322,474
- Goods and materials +€178,319
up €178,319 (+3.3%), from €5.4m to €5.6m
of which Purchases: +€119,393
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.
Result 2024
€243,935
Turnover
+€818,654
Other operating income
+€147,616
Goods and materials
-€178,319
Services and other goods
-€21,418
Staff costs
-€466,253
Depreciation
-€697,184
Write-downs
+€117,104
Other operating charges
+€25,450
Other operating items
+€269,556
Financial income
+€62,960
Financial charges
-€246,321
Taxes
+€30,736
Result 2025
€106,516
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.
From operations
+€946,344
Investment
-€1.6m
Financing
+€764,889
Cash 2024
€349,743
From operations (derived)
+€946,344
Net result for the year
+€106,516
Depreciation
+€1.2m
Stocks and contracts
+€148,525
Receivables within one year
-€352,527
Deferred charges and accrued income
-€1,017
Trade debts
+€178,272
Tax, wage and social debts
+€172,503
Other debts
-€494,265
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
+€764,889
Debts after one year
+€280,506
Current portion of long-term debt
-€203,875
Short-term financial debts
+€115,218
Contributions, distributions and other
+€573,040
Cash 2025
€419,395
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,095,420 | €13,823,334 | +€727,915 | +5.6% |
| Fixed assets | 21/28 | €9,704,596 | €10,157,840 | +€453,243 | +4.7% |
| Intangible fixed assets | 21 | €250 | €0 | -€250 | -100.0% |
| Tangible fixed assets | 22/27 | €9,704,346 | €10,157,840 | +€453,493 | +4.7% |
| Land and buildings | 22 | €3,773 | €3,580 | -€193 | -5.1% |
| Plant, machinery and equipment | 23 | €8,118,238 | €8,823,561 | +€705,323 | +8.7% |
| Furniture and vehicles | 24 | €80,409 | €60,562 | -€19,846 | -24.7% |
| Leasing and similar rights | 25 | €1,005,317 | €640,224 | -€365,093 | -36.3% |
| Other tangible fixed assets | 26 | €496,610 | €629,912 | +€133,303 | +26.8% |
| Current assets | 29/58 | €3,390,823 | €3,665,494 | +€274,671 | +8.1% |
| Stocks and contracts in progress | 3 | €2,427,250 | €2,278,725 | -€148,525 | -6.1% |
| Stocks | 30/36 | €2,427,250 | €2,278,725 | -€148,525 | -6.1% |
| Raw materials and consumables | 30/31 | €1,008,592 | €883,527 | -€125,065 | -12.4% |
| Finished goods | 33 | €1,104,494 | €1,082,613 | -€21,881 | -2.0% |
| Goods purchased for resale | 34 | €314,164 | €312,585 | -€1,579 | -0.5% |
| Amounts receivable within one year | 40/41 | €535,402 | €887,929 | +€352,527 | +65.8% |
| Trade receivables | 40 | €461,116 | €709,569 | +€248,453 | +53.9% |
| Other amounts receivable | 41 | €74,286 | €178,361 | +€104,074 | +140.1% |
| Cash at bank and in hand | 54/58 | €349,743 | €419,395 | +€69,652 | +19.9% |
| Deferred charges and accrued income | 490/1 | €78,429 | €79,446 | +€1,017 | +1.3% |
| Total equity and liabilities | 10/49 | €13,095,420 | €13,823,334 | +€727,915 | +5.6% |
| Equity | 10/15 | €3,479,780 | €4,159,336 | +€679,556 | +19.5% |
| Contributions | 10/11 | €1,400,027 | €1,400,027 | = | 0.0% |
| Reserves | 13 | €2,079,753 | €2,186,270 | +€106,516 | +5.1% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €2,061,003 | €2,167,520 | +€106,516 | +5.2% |
| Investment grants | 15 | - | €573,040 | +€573,040 | |
| Amounts payable | 17/49 | €9,615,639 | €9,663,998 | +€48,358 | +0.5% |
| Amounts payable after more than one year | 17 | €6,138,101 | €6,418,607 | +€280,506 | +4.6% |
| Financial debts | 170/4 | €6,138,101 | €6,418,607 | +€280,506 | +4.6% |
| Leasing and similar obligations | 172 | €74,219 | €59,921 | -€14,298 | -19.3% |
| Credit institutions | 173 | - | €318,686 | +€318,686 | |
| Other loans | 174 | €6,063,882 | €6,040,000 | -€23,882 | -0.4% |
| Amounts payable within one year | 42/48 | €3,477,539 | €3,245,391 | -€232,148 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €272,128 | €68,253 | -€203,875 | -74.9% |
| Financial debts | 43 | €896,115 | €1,011,332 | +€115,218 | +12.9% |
| Credit institutions | 430/8 | €896,115 | €1,011,332 | +€115,218 | +12.9% |
| Trade debts | 44 | €765,424 | €943,696 | +€178,272 | +23.3% |
| Suppliers | 440/4 | €765,424 | €943,696 | +€178,272 | +23.3% |
| Taxes, remuneration and social security | 45 | €477,307 | €649,810 | +€172,503 | +36.1% |
| Taxes | 450/3 | €8,787 | €89,293 | +€80,506 | +916.2% |
| Remuneration and social security | 454/9 | €468,520 | €560,517 | +€91,997 | +19.6% |
| Other amounts payable | 47/48 | €1,066,565 | €572,300 | -€494,265 | -46.3% |
| Operating income | 70/76A | €13,808,562 | €15,045,587 | +€1.2m | +9.0% |
| Turnover | 70 | €13,528,690 | €14,347,344 | +€818,654 | +6.1% |
| Own construction capitalised | 72 | - | €270,756 | +€270,756 | |
| Other operating income | 74 | €279,871 | €427,487 | +€147,616 | +52.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €13,378,940 | €14,600,759 | +€1.2m | +9.1% |
| Goods for resale, raw materials and consumables | 60 | €5,409,570 | €5,587,888 | +€178,319 | +3.3% |
| Purchases | 600/8 | €5,299,933 | €5,419,326 | +€119,393 | +2.3% |
| Change in stocks: decrease (increase) | 609 | €109,637 | €168,562 | +€58,926 | +53.7% |
| Services and other goods | 61 | €3,127,577 | €3,148,995 | +€21,418 | +0.7% |
| Remuneration, social security and pensions | 62 | €4,180,627 | €4,646,879 | +€466,253 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €491,153 | €1,188,337 | +€697,184 | +141.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €97,066 | -€20,037 | -€117,104 | |
| Other operating charges | 640/8 | €72,947 | €47,496 | -€25,450 | -34.9% |
| Non-recurring operating charges | 66A | €0 | €1,200 | +€1,200 | +1999900.0% |
| Operating profit (loss) | 9901 | €429,622 | €444,828 | +€15,206 | +3.5% |
| Financial income | 75/76B | - | €62,960 | +€62,960 | |
| Recurring financial income | 75 | - | €62,960 | +€62,960 | |
| Other financial income | 752/9 | - | €62,960 | +€62,960 | |
| Financial charges | 65/66B | €76,153 | €322,474 | +€246,321 | +323.5% |
| Recurring financial charges | 65 | €76,153 | €322,474 | +€246,321 | +323.5% |
| Debt charges | 650 | €59,504 | €306,657 | +€247,153 | +415.4% |
| Other financial charges | 652/9 | €16,648 | €15,817 | -€831 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €353,469 | €185,314 | -€168,155 | -47.6% |
| Income taxes | 67/77 | €109,534 | €78,798 | -€30,736 | -28.1% |
| Taxes | 670/3 | €109,534 | €78,798 | -€30,736 | -28.1% |
| Profit (loss) for the period | 9904 | €243,935 | €106,516 | -€137,419 | -56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €243,935 | €106,516 | -€137,419 | -56.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.