MOENS (0466.537.237): financials and annual accounts

MOENS

Dilbeek ·KBO/BCE: BE 0466.537.237

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	3.6m	3.7m	3.6m	3.6m	3.5m	3.2m	3.0m	2.9m	2.8m	2.8m	2.7m	2.7m	1.7m	1.0m	981,492	746,068	698,031	500,400	417,722	377,684
Fixed assets`21/28`	1.8m	1.7m	1.7m	1.8m	1.9m	2.0m	2.0m	2.0m	2.0m	2.1m	2.2m	2.3m	1.3m	455,800	409,198	161,070	121,339	108,126	49,790	46,103
Tangible fixed assets`22/27`	1.8m	1.7m	1.7m	1.8m	1.9m	2.0m	2.0m	2.0m	2.0m	2.1m	2.2m	2.3m	1.3m	455,503	408,901	160,773	121,042	107,828	49,493	45,805
Land and buildings`22`	1.7m	1.6m	1.6m	1.7m	1.8m	1.8m	1.9m	2.0m	2.0m	2.1m	2.2m	2.2m	1.3m	351,068	341,718	118,268	110,014	90,973	21,720	23,184
Plant, machinery and equipment`23`	27,589	10,052	3,482	5,644	5,866	10,499	15,132	14,480	1,760	2,640	3,520	245	490	735	1,205	450	930	1,468	1,379	4,389
Furniture and vehicles`24`	88,464	33,594	51,768	94,932	108,516	136,089	129,859	49,160	15,299	17,343	35,904	57,211	70,736	103,700	65,978	42,056	10,098	15,387	26,394	18,232
Financial fixed assets`28`	297	297	297	297	297	297	297	297	297	297	297	297	297	297	297	297	297	297	297	297
Current assets`29/58`	1.9m	2.0m	1.9m	1.7m	1.6m	1.2m	946,969	849,622	732,945	679,578	494,525	457,916	397,130	589,025	572,294	584,997	576,692	392,275	367,932	331,581
Stocks and contracts in progress`3`	547,613	485,778	497,385	426,715	385,812	303,616	330,519	307,915	260,812	268,255	277,752	299,531	189,557	175,223	154,816	75,710	49,970	47,910	46,880	43,620
Stocks`30/36`	547,613	485,778	497,385	426,715	385,812	303,616	330,519	307,915	260,812	268,255	277,752	299,531	189,557	175,223	154,816	75,710	49,970	47,910	46,880	43,620
Amounts receivable within one year`40/41`	72,543	31,121	17,056	78,752	154,904	17,774	24,211	18,650	41,730	28,079	47,033	63,629	67,614	126,455	183,935	21,681	45,725	48,481	82,336	32,668
Trade receivables`40`	11,489	14,152	12,273	23,493	12,175	12,644	16,179	18,236	41,246	27,193	25,553	17,816	28,638	29,088	23,293	17,193	33,892	33,142	27,283	32,668
Other amounts receivable`41`	61,054	16,969	4,783	55,260	142,729	5,131	8,032	414	484	886	21,479	45,813	38,976	97,367	160,642	4,488	11,833	15,339	55,053	-
Current investments`50/53`	747,382	452,700	600,000	-	-	-	-	-	-	-	-	-	-	-	15,000	277,100	277,100	152,100	-	-
Cash at bank and in hand`54/58`	482,535	1.0m	810,242	1.2m	1.0m	899,941	592,239	523,058	430,404	383,244	169,741	94,515	139,717	287,347	218,543	210,506	203,897	143,784	238,716	255,224
Deferred charges and accrued income`490/1`	10,000	-	-	-	-	-	-	-	-	-	-	241	241	-	-	-	-	-	-	69
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	3.6m	3.7m	3.6m	3.6m	3.5m	3.2m	3.0m	2.9m	2.8m	2.8m	2.7m	2.7m	1.7m	1.0m	981,492	746,068	698,031	500,400	417,722	377,684
Equity`10/15`	2.1m	1.9m	1.8m	1.8m	1.8m	1.5m	1.2m	1.1m	940,335	1.3m	1.2m	1.2m	1.2m	728,418	643,318	587,064	495,672	350,635	259,011	221,630
Contributions`10/11`	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	18,550	470,000	470,000	470,000	470,000	24,789	24,789	24,789	24,789	24,789	24,789	24,789
Issued capital`100`	-	-	-	-	-	-	18,550	18,550	18,550	470,000	470,000	470,000	470,000	24,789	24,789	24,789	24,789	24,789	24,789	24,789
Reserves`13`	2.1m	1.9m	1.8m	1.8m	1.8m	1.4m	1.2m	1.1m	921,785	817,001	750,415	737,834	730,785	703,629	618,528	562,275	470,882	325,845	234,222	196,841
Non-distributable reserves`130/1`	-	-	-	1,855	1,855	1,855	-	315,056	176,951	72,167	11,081	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,855	1,855	1,855	22,000	16,500	15,000	10,000	2,479	2,479	2,479	2,479	2,479	2,479	2,479
Reserves not available under the articles`1311`	-	-	-	1,855	1,855	1,855	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other`1319`	-	-	-	-	-	-	-	315,056	176,951	72,167	11,081	-	-	-	-	-	-	-	-	-
Tax-exempt reserves`132`	168,400	84,200	-	-	-	-	22,500	22,500	22,500	22,500	22,500	22,500	22,500	22,500	22,500	22,500	22,500	22,500	22,500	22,500
Distributable reserves`133`	1.9m	1.8m	1.8m	1.8m	1.8m	1.4m	1.2m	720,479	720,479	700,334	700,334	700,334	698,285	678,650	593,549	537,296	445,904	300,866	209,243	171,862
Amounts payable`17/49`	1.5m	1.8m	1.8m	1.8m	1.6m	1.7m	1.7m	1.8m	1.8m	1.5m	1.5m	1.5m	536,727	316,407	338,175	159,003	202,359	149,766	158,711	156,054
Amounts payable after more than one year`17`	520,500	584,892	647,048	707,044	764,958	820,859	893,542	970,953	1.0m	1.1m	1.2m	1.3m	425,797	205,013	232,861	-	-	-	-	-
Financial debts`170/4`	520,500	584,892	647,048	707,044	764,958	820,859	893,542	970,953	1.0m	1.1m	1.2m	1.3m	425,797	205,013	232,861	-	-	-	-	-
Amounts payable within one year`42/48`	1.0m	1.2m	1.1m	1.1m	882,970	914,506	854,235	814,188	775,712	381,956	293,714	276,236	110,930	111,394	105,313	159,003	202,359	149,766	158,711	156,054
Current portion of amounts payable after more than one year`42`	64,392	62,156	59,997	57,913	55,902	72,683	79,033	77,539	72,303	69,387	70,731	73,542	29,215	27,849	26,546	-	-	-	-	2,781
Trade debts`44`	97,501	87,212	61,072	61,306	58,463	89,388	73,619	84,832	79,542	53,113	59,922	84,008	46,495	45,361	26,797	25,481	23,603	107,775	86,710	61,359
Suppliers`440/4`	97,501	87,212	61,072	61,306	58,463	89,388	73,619	84,832	79,542	53,113	59,922	84,008	46,495	45,361	26,797	25,481	23,603	107,775	86,710	61,359
Advances received on contracts in progress`46`	1,607	1,028	2,608	1,701	4,158	2,335	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	55,509	91,879	82,693	62,013	53,437	47,452	53,615	93,615	67,253	61,125	29,075	33,418	35,220	38,184	51,970	11,642	45,752	32,806	30,043	34,792
Taxes`450/3`	31,991	67,979	60,920	37,559	34,009	31,006	36,492	76,449	45,638	42,362	15,355	19,146	21,278	27,815	37,571	3,165	35,963	22,502	19,614	25,176
Remuneration and social security`454/9`	23,518	23,900	21,773	24,454	19,428	16,446	17,123	17,166	21,614	18,762	13,719	14,272	13,941	10,369	14,399	8,476	9,789	10,304	10,428	9,616
Other amounts payable`47/48`	805,432	935,953	929,898	887,147	711,010	702,649	647,968	558,203	556,614	198,330	133,986	85,268	-	-	-	121,881	133,005	9,185	41,959	57,122
Income statement
Gross operating margin`9900`	647,211	676,282	696,905	572,986	867,847	700,697	546,264	533,947	493,073	434,177	338,708	289,027	233,337	252,557	237,706	207,344	276,986	202,180	138,569	151,872
Remuneration, social security and pensions`62`	212,158	215,420	192,083	157,551	155,262	140,993	152,554	144,482	147,976	146,149	137,184	140,601	120,795	92,433	97,176	62,257	64,613	64,760	58,258	55,173
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	128,083	110,909	132,731	139,657	135,320	126,818	126,548	106,212	93,255	105,760	114,627	89,696	64,557	38,452	54,554	19,044	9,519	22,921	18,280	15,554
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	-	-	-	-	-	-	-	-	-	-	-	-	-	141	-	1,127	-	-	-	-
Other operating charges`640/8`	6,179	5,972	6,205	5,375	5,205	6,544	6,703	6,629	5,935	5,116	4,363	2,454	4,972	4,269	2,303	3,851	1,235	1,236	920	1,656
Non-recurring operating charges`66A`	-	-	-	-	-	-	-	106	106	50	50	650	150	350	410	275	160	270	50	100
Operating profit (loss)`9901`	300,792	343,981	365,886	270,404	572,059	426,341	260,459	276,517	245,800	177,102	82,534	56,276	43,013	117,263	83,672	121,065	201,619	113,263	61,111	79,489
Financial income`75/76B`	27,205	26,006	3,559	534	219	867	359	319	688	328	406	275	4,405	3,771	10,530	13,813	14,123	7,088	8,425	2,192
Recurring financial income`75`	27,205	26,006	3,559	534	219	867	359	319	688	328	406	275	4,405	3,771	10,530	13,813	14,123	7,088	8,425	2,192
Financial charges`65/66B`	85,080	92,334	75,969	61,327	64,915	59,286	63,948	71,460	47,259	47,444	50,327	48,794	12,357	12,615	11,276	586	468	621	623	1,510
Recurring financial charges`65`	85,080	92,334	75,969	61,327	64,915	59,286	63,948	71,460	47,259	47,444	50,327	48,794	12,357	12,615	11,276	586	468	621	623	1,510
Profit (loss) for the period before taxes`9903`	242,916	277,652	293,476	209,611	507,363	367,922	196,870	205,376	199,229	129,986	32,563	7,107	34,912	108,068	82,517	134,018	215,113	119,460	68,862	80,071
Income taxes`67/77`	49,757	78,838	93,311	64,514	160,314	117,606	59,302	67,271	75,945	44,900	5,982	58	7,545	22,968	26,263	42,625	70,076	27,837	19,481	12,813
Profit (loss) for the period`9904`	193,159	198,814	200,165	145,097	347,049	250,316	137,568	138,105	123,284	85,086	26,581	7,049	27,367	85,100	56,253	91,392	145,037	91,624	49,381	67,257
Transfer from tax-exempt reserves`789`	-	-	-	-	-	22,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to tax-exempt reserves`689`	84,200	84,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period to be appropriated`9905`	108,959	114,614	200,165	145,097	347,049	272,816	137,568	138,105	123,284	85,086	26,581	7,049	27,367	85,100	56,253	91,392	145,037	91,624	49,381	67,257
Appropriation of the result
Profit (loss) to be appropriated`9906`	108,959	114,614	200,165	145,097	347,049	272,816	137,568	138,105	123,284	85,086	26,581	7,049	27,367	85,100	56,253	91,392	145,037	91,624	49,381	67,257
Transfer from equity`791/2`	-	137,568	138,105	176,951	-	-	-	-	-	-	-	-	211	-	-	-	-	-	-	-
Transfer to equity`691/2`	108,959	114,614	200,165	145,097	347,049	272,816	137,568	138,105	104,784	66,586	12,581	7,049	27,577	85,100	56,253	91,392	145,037	91,624	37,381	47,257
Addition to contributions`691`	-	-	-	-	-	-	-	-	-	-	-	-	211	-	-	-	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	5,500	1,500	5,000	7,521	-	-	-	-	-	-	-
To other reserves`6921`	108,959	114,614	200,165	145,097	347,049	272,816	137,568	138,105	104,784	61,086	11,081	2,049	19,846	85,100	56,253	91,392	145,037	91,624	37,381	47,257
Profit to be distributed`694/7`	-	137,568	138,105	176,951	-	-	-	-	18,500	18,500	14,000	-	-	-	-	-	-	-	12,000	20,000
Return on contributions (dividend)`694`	-	137,568	138,105	176,951	-	-	-	-	18,500	18,500	14,000	-	-	-	-	-	-	-	-	-
Directors or managers`695`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,000	20,000
Social balance sheet
Average staff (FTE)`9087`	3.8	4	3.4	4.1	4.2	4.5	4.3	4.1	4.6	4.1	3.7	3.6	2.8	2.1	2.2	1.7	1.9	3.3	2.9	1.6
Hours worked`1013`	6,798	7,041	6,128	6,649	6,922	6,725	7,114	7,313	7,516	6,618	6,506	6,473	5,452	4,095	4,055	3,244	3,295	3,277	3,021	2,941
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Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	31-08-2026	2026-00464269	PDF
31-12-2024	abbreviated format	28-08-2025	2025-00420483	PDF
31-12-2023	abbreviated format	25-07-2024	2024-00280242	PDF
31-12-2022	abbreviated format	07-07-2023	2023-00213519	PDF
31-12-2021	abbreviated format	30-09-2022	2022-20448239	PDF
31-12-2020	abbreviated format	18-06-2021	2021-21500121	PDF
31-12-2019	abbreviated format	03-07-2020	2020-25800360	PDF
31-12-2018	abbreviated format	31-08-2019	2019-60600167	PDF
31-12-2017	abbreviated format	13-07-2018	2018-32500506	PDF
31-12-2016	abbreviated format	26-07-2017	2017-36200248	PDF
31-12-2015	abbreviated format	29-06-2016	2016-23900476	PDF
31-12-2014	abbreviated format	30-09-2015	2015-62200360	PDF
31-12-2013	abbreviated format	31-07-2014	2014-37500396	PDF
31-12-2012	abbreviated format	27-06-2013	2013-22400279	PDF
31-12-2011	abbreviated format	02-07-2012	2012-24600423	PDF
31-12-2010	abbreviated format	09-06-2011	2011-15500442	PDF
31-12-2009	abbreviated format	23-06-2010	2010-20900342	PDF
31-12-2008	abbreviated format	07-07-2009	2009-38500241	PDF
31-12-2007	abbreviated format	13-06-2008	2008-23300226	PDF
31-12-2006	abbreviated format	12-07-2007	2007-40900080	PDF
31-12-2005	abbreviated format	05-07-2006	2006-41402039	PDF
31-12-2004	abbreviated format	06-07-2005	2005-43500532	PDF
31-12-2003	abbreviated format	24-06-2004	2004-31302199	PDF
31-12-2002	abbreviated format	03-07-2003	2003-38504733	PDF
31-12-2001	abbreviated format	13-06-2002	2002-20703640	PDF
31-12-2000	abbreviated format	22-06-2001	2001-25601372	PDF
31-12-1999	abbreviated format	27-07-2000	2000-46805165	PDF

Year	Entries	Awarded	Paid
2025	1	€1,458	€1,458
2024	1	€1,849	€1,849
2022	1	€2,000	€2,000

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	428,874	454,890	498,617	410,061	707,379	553,159	387,006	382,729	339,056	282,862	197,161	145,971	107,570	155,715	138,227	140,108	211,137	136,184	79,391	95,043
Cash flow	321,242	309,723	332,896	284,754	482,369	377,134	264,115	244,317	216,539	190,846	141,208	96,745	91,923	123,552	110,808	110,436	154,556	114,544	67,661	82,811
Investment in fixed assets	221,480	98,152	25,094	70,115	34,352	90,361	129,403	88,578	14,674	6,149	37,345	1.0m	949,139	85,054	302,682	58,775	22,733	81,256	21,967	2,569
Change in cash	-526,355	198,648	-433,087	202,134	141,253	307,701	69,182	92,654	47,160	213,503	75,227	-45,202	-147,630	68,803	8,037	6,609	60,114	-94,932	-16,508	-
Working capital	835,632	800,262	788,414	678,715	698,940	306,824	92,734	35,434	-42,766	297,622	200,812	181,680	286,200	477,631	466,981	425,994	374,333	242,509	209,221	175,527
Solvency	57.6%	51.9%	50.8%	50.1%	52.4%	45.8%	41.0%	37.7%	34.0%	46.1%	45.1%	44.0%	69.1%	69.7%	65.5%	78.7%	71.0%	70.1%	62.0%	58.7%
Current ratio	1.82	1.68	1.69	1.63	1.79	1.34	1.11	1.04	0.94	1.78	1.68	1.66	3.58	5.29	5.43	3.68	2.85	2.62	2.32	2.12
Quick ratio	1.28	1.27	1.26	1.24	1.35	1.00	0.72	0.67	0.61	1.08	0.74	0.57	1.87	3.71	3.96	3.20	2.60	2.30	2.02	1.85
Debt to equity	0.74	0.93	0.97	1.00	0.91	1.18	1.44	1.66	1.94	1.17	1.22	1.27	0.45	0.43	0.53	0.27	0.41	0.43	0.61	0.70
ROE	9.2%	10.4%	10.9%	8.1%	19.1%	17.1%	11.3%	12.8%	13.1%	6.6%	2.2%	0.6%	2.3%	11.7%	8.7%	15.6%	29.3%	26.1%	19.1%	30.3%
ROA	5.3%	5.4%	5.5%	4.1%	10.0%	7.8%	4.6%	4.8%	4.5%	3.0%	1.0%	0.3%	1.6%	8.1%	5.7%	12.2%	20.8%	18.3%	11.8%	17.8%
Interest coverage	5.04	4.93	6.56	6.69	10.90	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	4	5	4	4	5
full-time	3	3	3	4	4
part-time	1	2	1	-	1
in full-time equivalents	3.6	4.1	3.6	4	4.5
Average over the year, in full-time equivalents	3.8	4	3.4	4.1	4.2
On a permanent contract	4	4	4	4	4
Joined	17	21	16	5	23
Left	18	0	2	3	9

MOENS

Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency57.6%

Current ratio1.82

Return on assets5.3%

Staff

Staff cost per FTE€55,831

Joined and left-1

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2025, 3 entries, €5,307 awarded, €5,307 paid

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Insights on MOENS

Next steps

Item	2025	2024	2023	2022	2021
Debts secured on the company's own assets	€584,892	€647,048	€707,044	€764,958	€820,859
Mortgages, amount registered	€1.2m	€1.2m	€1.2m	€1.2m	€1.2m
Carrying value of the mortgaged assets	€1.7m	€1.6m	€1.6m	€1.7m	€1.8m

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€221,480	€98,152	€25,094	€70,115	€34,352
Depreciation and write-downs of the year	€128,083	€110,909	€132,731	€139,657	€135,320