MULTITUDE: 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.
MULTITUDE
Largest movements
- Cash +€17,727
up €17,727 (+54.0%), from €32,854 to €50,581
mainly Depreciation (+€26,409) and Net result for the year (+€25,724)
- Deferred charges and accrued income -€13,477
down €13,477 (-40.5%), from €33,242 to €19,765
- Receivables after one year +€10,000
new in 2025: €10,000
- Tangible fixed assets -€6,069
down €6,069 (-2.1%), from €283,945 to €277,876
- Profit (loss) carried forward +€25,724
up €25,724 (+14.5%), from €177,095 to €202,819
- Debts after one year -€18,585
down €18,585 (-24.7%), from €75,116 to €56,532
- Gross operating margin -€4,369
down €4,369 (-5.5%), from €79,461 to €75,092
- Depreciation +€1,342
up €1,342 (+5.4%), from €25,067 to €26,409
- Taxes -€827
down €827 (-8.1%), from €10,191 to €9,364
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 | €350,041 | €358,222 | +€8,181 | +2.3% |
| Fixed assets | 21/28 | €283,945 | €277,876 | -€6,069 | -2.1% |
| Tangible fixed assets | 22/27 | €283,945 | €277,876 | -€6,069 | -2.1% |
| Land and buildings | 22 | €283,945 | €277,876 | -€6,069 | -2.1% |
| Current assets | 29/58 | €66,096 | €80,346 | +€14,250 | +21.6% |
| Amounts receivable after more than one year | 29 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 291 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €32,854 | €50,581 | +€17,727 | +54.0% |
| Deferred charges and accrued income | 490/1 | €33,242 | €19,765 | -€13,477 | -40.5% |
| Total equity and liabilities | 10/49 | €350,041 | €358,222 | +€8,181 | +2.3% |
| Equity | 10/15 | €244,745 | €270,469 | +€25,724 | +10.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €177,095 | €202,819 | +€25,724 | +14.5% |
| Amounts payable | 17/49 | €105,296 | €87,753 | -€17,542 | -16.7% |
| Amounts payable after more than one year | 17 | €75,116 | €56,532 | -€18,585 | -24.7% |
| Financial debts | 170/4 | €75,116 | €56,532 | -€18,585 | -24.7% |
| Amounts payable within one year | 42/48 | €30,179 | €30,222 | +€42 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €18,192 | €18,585 | +€393 | +2.2% |
| Trade debts | 44 | €649 | €81 | -€568 | -87.5% |
| Suppliers | 440/4 | €649 | €81 | -€568 | -87.5% |
| Taxes, remuneration and social security | 45 | €11,339 | €11,555 | +€217 | +1.9% |
| Taxes | 450/3 | €11,339 | €11,555 | +€217 | +1.9% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,067 | €26,409 | +€1,342 | +5.4% |
| Other operating charges | 640/8 | €11,418 | €11,776 | +€358 | +3.1% |
| Gross operating margin | 9900 | €79,461 | €75,092 | -€4,369 | -5.5% |
| Operating profit (loss) | 9901 | €42,975 | €36,907 | -€6,069 | -14.1% |
| Financial charges | 65/66B | €2,210 | €1,819 | -€391 | -17.7% |
| Recurring financial charges | 65 | €2,210 | €1,819 | -€391 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €40,766 | €35,088 | -€5,678 | -13.9% |
| Income taxes | 67/77 | €10,191 | €9,364 | -€827 | -8.1% |
| Profit (loss) for the period | 9904 | €30,574 | €25,724 | -€4,850 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,574 | €25,724 | -€4,850 | -15.9% |
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 30 September 2026 via checked.be.