MULTIWEAR: 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.
MULTIWEAR
Largest movements
- Cash -€80,982
down €80,982 (-65.7%), from €123,286 to €42,303
mainly Trade debts (-€97,300) and Tax, wage and social debts (-€41,688)
- Receivables within one year -€42,984
down €42,984 (-24.5%), from €175,626 to €132,642
of which Trade receivables: -€65,415
- Tangible fixed assets -€21,334
down €21,334 (-45.7%), from €46,721 to €25,387
of which Land and buildings: -€11,941
- Stocks and contracts -€19,000
no longer reported in 2025 (was €19,000)
- Trade debts -€97,300
down €97,300 (-90.3%), from €107,794 to €10,494
- Tax, wage and social debts -€41,688
down €41,688 (-66.7%), from €62,513 to €20,826
of which Taxes: -€36,134
- Debts after one year -€19,968
down €19,968 (-82.4%), from €24,238 to €4,269
- Short-term financial debts -€13,000
down €13,000 (-52.0%), from €25,000 to €12,000
- Reserves +€10,660
up €10,660 (+10.3%), from €103,514 to €114,174
of which Distributable reserves: +€10,660
- Gross operating margin -€81,265
down €81,265 (-52.7%), from €154,290 to €73,024
- Staff costs -€32,179
down €32,179 (-53.4%), from €60,247 to €28,068
- Taxes -€13,984
down €13,984 (-72.8%), from €19,216 to €5,231
- Depreciation -€3,219
down €3,219 (-13.2%), from €24,368 to €21,149
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.
Derived cash bridge
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 | €365,518 | €200,331 | -€165,187 | -45.2% |
| Fixed assets | 21/28 | €47,607 | €25,387 | -€22,220 | -46.7% |
| Intangible fixed assets | 21 | €886 | - | -€886 | |
| Tangible fixed assets | 22/27 | €46,721 | €25,387 | -€21,334 | -45.7% |
| Land and buildings | 22 | €30,397 | €18,456 | -€11,941 | -39.3% |
| Plant, machinery and equipment | 23 | €591 | - | -€591 | |
| Furniture and vehicles | 24 | €15,733 | €6,931 | -€8,802 | -55.9% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €317,912 | €174,945 | -€142,967 | -45.0% |
| Stocks and contracts in progress | 3 | €19,000 | - | -€19,000 | |
| Stocks | 30/36 | €19,000 | - | -€19,000 | |
| Amounts receivable within one year | 40/41 | €175,626 | €132,642 | -€42,984 | -24.5% |
| Trade receivables | 40 | €151,228 | €85,813 | -€65,415 | -43.3% |
| Other amounts receivable | 41 | €24,398 | €46,829 | +€22,431 | +91.9% |
| Cash at bank and in hand | 54/58 | €123,286 | €42,303 | -€80,982 | -65.7% |
| Total equity and liabilities | 10/49 | €365,518 | €200,331 | -€165,187 | -45.2% |
| Equity | 10/15 | €122,114 | €132,774 | +€10,660 | +8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,514 | €114,174 | +€10,660 | +10.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €101,654 | €112,314 | +€10,660 | +10.5% |
| Amounts payable | 17/49 | €243,404 | €67,557 | -€175,847 | -72.2% |
| Amounts payable after more than one year | 17 | €24,238 | €4,269 | -€19,968 | -82.4% |
| Financial debts | 170/4 | €24,238 | €4,269 | -€19,968 | -82.4% |
| Amounts payable within one year | 42/48 | €219,166 | €63,288 | -€155,878 | -71.1% |
| Current portion of amounts payable after more than one year | 42 | €23,859 | €19,968 | -€3,890 | -16.3% |
| Financial debts | 43 | €25,000 | €12,000 | -€13,000 | -52.0% |
| Credit institutions | 430/8 | €25,000 | €12,000 | -€13,000 | -52.0% |
| Trade debts | 44 | €107,794 | €10,494 | -€97,300 | -90.3% |
| Suppliers | 440/4 | €107,794 | €10,494 | -€97,300 | -90.3% |
| Taxes, remuneration and social security | 45 | €62,513 | €20,826 | -€41,688 | -66.7% |
| Taxes | 450/3 | €56,959 | €20,826 | -€36,134 | -63.4% |
| Remuneration and social security | 454/9 | €5,554 | - | -€5,554 | |
| Remuneration, social security and pensions | 62 | €60,247 | €28,068 | -€32,179 | -53.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,368 | €21,149 | -€3,219 | -13.2% |
| Other operating charges | 640/8 | €3,308 | €3,190 | -€118 | -3.6% |
| Non-recurring operating charges | 66A | - | €2,996 | +€2,996 | |
| Gross operating margin | 9900 | €154,290 | €73,024 | -€81,265 | -52.7% |
| Operating profit (loss) | 9901 | €66,366 | €17,621 | -€48,745 | -73.4% |
| Financial income | 75/76B | €1,736 | €2,839 | +€1,102 | +63.5% |
| Recurring financial income | 75 | €1,736 | €2,839 | +€1,102 | +63.5% |
| Financial charges | 65/66B | €5,070 | €4,569 | -€501 | -9.9% |
| Recurring financial charges | 65 | €5,070 | €4,569 | -€501 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €63,032 | €15,891 | -€47,141 | -74.8% |
| Income taxes | 67/77 | €19,216 | €5,231 | -€13,984 | -72.8% |
| Profit (loss) for the period | 9904 | €43,817 | €10,660 | -€33,157 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,817 | €10,660 | -€33,157 | -75.7% |
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 28 October 2026 via checked.be.