MULTIVISION: 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.
MULTIVISION
Largest movements
- Tangible fixed assets -€256,464
down €256,464 (-58.7%), from €437,002 to €180,538
of which Land and buildings: -€255,293
- Cash +€94,227
up €94,227 (+2105.0%), from €4,476 to €98,703
mainly Investment in fixed assets (net) (+€244,356) and Net result for the year (+€29,114)
- Debts after one year -€198,420
down €198,420 (-67.2%), from €295,191 to €96,772
- Profit (loss) carried forward +€78,706
up €78,706, from -€58,427 to €20,279
- Reserves -€37,807
down €37,807 (-30.5%), from €123,995 to €86,188
of which Tax-exempt reserves: -€34,452
- Other debts +€13,189
up €13,189 (+30.4%), from €43,408 to €56,597
- Current portion of long-term debt -€9,243
down €9,243 (-42.1%), from €21,949 to €12,705
- Gross operating margin +€141,401
up €141,401 (+1760.4%), from €8,032 to €149,433
- Taxes +€48,142
up €48,142 (+20605.9%), from €234 to €48,375
- Depreciation -€16,278
down €16,278 (-57.3%), from €28,386 to €12,107
- Financial charges +€3,520
up €3,520 (+18.3%), from €19,280 to €22,799
- Other operating charges +€1,510
up €1,510 (+64.4%), from €2,344 to €3,853
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 | €459,310 | €298,350 | -€160,960 | -35.0% |
| Fixed assets | 21/28 | €437,002 | €180,538 | -€256,464 | -58.7% |
| Tangible fixed assets | 22/27 | €437,002 | €180,538 | -€256,464 | -58.7% |
| Land and buildings | 22 | €434,421 | €179,128 | -€255,293 | -58.8% |
| Plant, machinery and equipment | 23 | €1,200 | €566 | -€633 | -52.8% |
| Furniture and vehicles | 24 | €1,381 | €844 | -€538 | -38.9% |
| Current assets | 29/58 | €22,308 | €117,811 | +€95,503 | +428.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €16,230 | €19,108 | +€2,878 | +17.7% |
| Trade receivables | 40 | €16,161 | €12,994 | -€3,167 | -19.6% |
| Other amounts receivable | 41 | €69 | €6,114 | +€6,045 | +8747.1% |
| Cash at bank and in hand | 54/58 | €4,476 | €98,703 | +€94,227 | +2105.0% |
| Deferred charges and accrued income | 490/1 | €1,602 | €0 | -€1,602 | -100.0% |
| Total equity and liabilities | 10/49 | €459,310 | €298,350 | -€160,960 | -35.0% |
| Equity | 10/15 | €71,768 | €112,667 | +€40,899 | +57.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €123,995 | €86,188 | -€37,807 | -30.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,452 | - | -€34,452 | |
| Distributable reserves | 133 | €87,683 | €84,328 | -€3,355 | -3.8% |
| Profit (loss) carried forward | 14 | -€58,427 | €20,279 | +€78,706 | |
| Provisions and deferred taxes | 16 | €8,613 | - | -€8,613 | |
| Deferred taxes | 168 | €8,613 | - | -€8,613 | |
| Amounts payable | 17/49 | €378,929 | €185,682 | -€193,246 | -51.0% |
| Amounts payable after more than one year | 17 | €295,191 | €96,772 | -€198,420 | -67.2% |
| Financial debts | 170/4 | €295,191 | €96,772 | -€198,420 | -67.2% |
| Amounts payable within one year | 42/48 | €83,737 | €88,911 | +€5,173 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €21,949 | €12,705 | -€9,243 | -42.1% |
| Trade debts | 44 | €8,456 | €6,261 | -€2,196 | -26.0% |
| Suppliers | 440/4 | €8,456 | €6,261 | -€2,196 | -26.0% |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €9,925 | €13,348 | +€3,423 | +34.5% |
| Taxes | 450/3 | €9,925 | €10,761 | +€836 | +8.4% |
| Remuneration and social security | 454/9 | €0 | €2,587 | +€2,587 | |
| Other amounts payable | 47/48 | €43,408 | €56,597 | +€13,189 | +30.4% |
| Non-recurring operating income | 76A | €0 | €71,377 | +€71,377 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,386 | €12,107 | -€16,278 | -57.3% |
| Other operating charges | 640/8 | €2,344 | €3,853 | +€1,510 | +64.4% |
| Non-recurring operating charges | 66A | - | €33,733 | +€33,733 | |
| Gross operating margin | 9900 | €8,032 | €149,433 | +€141,401 | +1760.4% |
| Operating profit (loss) | 9901 | -€22,697 | €99,739 | +€122,436 | |
| Financial income | 75/76B | €18 | €550 | +€532 | +2907.1% |
| Recurring financial income | 75 | €18 | €550 | +€532 | +2907.1% |
| Financial charges | 65/66B | €19,280 | €22,799 | +€3,520 | +18.3% |
| Recurring financial charges | 65 | €19,280 | €22,799 | +€3,520 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | -€41,958 | €77,490 | +€119,448 | |
| Transfer from deferred taxes | 780 | €0 | €0 | = | |
| Income taxes | 67/77 | €234 | €48,375 | +€48,142 | +20605.9% |
| Profit (loss) for the period | 9904 | -€42,192 | €29,114 | +€71,306 | |
| Transfer from tax-exempt reserves | 789 | €0 | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,192 | €29,114 | +€71,306 |
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.