MULTIVISION SCREENS: what changed
Two financial 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 SCREENS
Largest movements
- Receivables within one year -€142,937
down €142,937 (-45.8%), from €312,160 to €169,223
of which Trade receivables: -€115,161
- Intangible fixed assets +€76,903
up €76,903 (+19.8%), from €388,552 to €465,455
- Cash -€38,310
down €38,310 (-58.7%), from €65,220 to €26,910
mainly Net result for the year (-€216,830) and Investment in fixed assets (net) (-€131,445)
- Stocks and contracts +€30,894
up €30,894 (+21.3%), from €144,921 to €175,815
- Profit (loss) carried forward -€216,830
down €216,830 (-375.0%), from -€57,827 to -€274,656
- Short-term financial debts +€100,957
up €100,957, from €0 to €100,957
- Trade debts +€88,278
up €88,278 (+47.7%), from €184,973 to €273,251
- Debts after one year -€67,711
down €67,711 (-12.1%), from €561,209 to €493,498
of which Financial debts: -€67,711
- Gross operating margin -€134,938
down €134,938, from €109,872 to -€25,066
- Write-downs +€12,909
new in 2025: €12,909
- Depreciation +€9,758
up €9,758 (+18.1%), from €53,852 to €63,610
- Financial charges -€2,454
down €2,454 (-6.8%), from €35,917 to €33,463
- Financial income -€1,839
down €1,839 (-67.5%), from €2,723 to €884
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 | €952,039 | €866,214 | -€85,825 | -9.0% |
| Formation expenses | 20 | €15,145 | €13,145 | -€2,000 | -13.2% |
| Fixed assets | 21/28 | €410,168 | €480,004 | +€69,835 | +17.0% |
| Intangible fixed assets | 21 | €388,552 | €465,455 | +€76,903 | +19.8% |
| Tangible fixed assets | 22/27 | €21,616 | €14,549 | -€7,067 | -32.7% |
| Plant, machinery and equipment | 23 | €13,287 | €7,937 | -€5,350 | -40.3% |
| Furniture and vehicles | 24 | €8,329 | €6,612 | -€1,717 | -20.6% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €526,725 | €373,065 | -€153,660 | -29.2% |
| Stocks and contracts in progress | 3 | €144,921 | €175,815 | +€30,894 | +21.3% |
| Stocks | 30/36 | €144,921 | €175,815 | +€30,894 | +21.3% |
| Amounts receivable within one year | 40/41 | €312,160 | €169,223 | -€142,937 | -45.8% |
| Trade receivables | 40 | €266,343 | €151,182 | -€115,161 | -43.2% |
| Other amounts receivable | 41 | €45,817 | €18,040 | -€27,776 | -60.6% |
| Current investments | 50/53 | €70 | €0 | -€70 | -100.0% |
| Cash at bank and in hand | 54/58 | €65,220 | €26,910 | -€38,310 | -58.7% |
| Deferred charges and accrued income | 490/1 | €4,355 | €1,117 | -€3,237 | -74.3% |
| Total equity and liabilities | 10/49 | €952,039 | €866,214 | -€85,825 | -9.0% |
| Equity | 10/15 | €115,282 | -€101,547 | -€216,830 | |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €53,109 | €53,109 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €53,109 | €53,109 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,827 | -€274,656 | -€216,830 | -375.0% |
| Amounts payable | 17/49 | €836,756 | €967,761 | +€131,005 | +15.7% |
| Amounts payable after more than one year | 17 | €561,209 | €493,498 | -€67,711 | -12.1% |
| Financial debts | 170/4 | €361,209 | €293,498 | -€67,711 | -18.7% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €273,042 | €463,791 | +€190,748 | +69.9% |
| Current portion of amounts payable after more than one year | 42 | €74,137 | €77,311 | +€3,174 | +4.3% |
| Financial debts | 43 | €0 | €100,957 | +€100,957 | |
| Credit institutions | 430/8 | €0 | €100,957 | +€100,957 | |
| Trade debts | 44 | €184,973 | €273,251 | +€88,278 | +47.7% |
| Suppliers | 440/4 | €184,973 | €273,251 | +€88,278 | +47.7% |
| Taxes, remuneration and social security | 45 | €13,933 | €12,272 | -€1,660 | -11.9% |
| Taxes | 450/3 | €5,970 | €566 | -€5,404 | -90.5% |
| Remuneration and social security | 454/9 | €7,963 | €11,706 | +€3,743 | +47.0% |
| Accrued charges and deferred income | 492/3 | €2,505 | €10,473 | +€7,968 | +318.0% |
| Non-recurring operating income | 76A | €8,981 | €4,410 | -€4,571 | -50.9% |
| Remuneration, social security and pensions | 62 | €70,946 | €72,082 | +€1,136 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,852 | €63,610 | +€9,758 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,909 | +€12,909 | |
| Other operating charges | 640/8 | €4,654 | €4,669 | +€15 | +0.3% |
| Non-recurring operating charges | 66A | €4,823 | €4,716 | -€107 | -2.2% |
| Gross operating margin | 9900 | €109,872 | -€25,066 | -€134,938 | |
| Operating profit (loss) | 9901 | -€24,403 | -€183,052 | -€158,649 | -650.1% |
| Financial income | 75/76B | €2,723 | €884 | -€1,839 | -67.5% |
| Recurring financial income | 75 | €2,723 | €884 | -€1,839 | -67.5% |
| Financial charges | 65/66B | €35,917 | €33,463 | -€2,454 | -6.8% |
| Recurring financial charges | 65 | €35,917 | €33,463 | -€2,454 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€57,597 | -€215,630 | -€158,034 | -274.4% |
| Income taxes | 67/77 | €337 | €1,199 | +€862 | +255.7% |
| Profit (loss) for the period | 9904 | -€57,934 | -€216,830 | -€158,896 | -274.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,934 | -€216,830 | -€158,896 | -274.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.