Mulcos
ActiveSummary
Mulcos has been active since 1967 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €106,058 and a net result of -€6,658. Equity is growing by ~7.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability70▼-13
Solvency48▼-7
Growth63▼-15
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity short (current ratio 0.29 against 1.91 in 2023; short-term debt: 11.6% and cash: 2% of total assets), and 77.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
22.9%
Return on assets
-1.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-08-2025, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
27 d late
2023
61 d late
2022
32 d late
2021
237 d late
2020
51 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 83 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€80,707▲ 15.4%
2023 · €69,921
EBIT margin
11.7%▼ 26.8pp
2023 · 38.5%
Net result
-€6,658
2023 · €19,114
Working capital
-€38,282
2023 · €23,464
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€69,921€80,707▲ 15.4%
Operating result€15,841▲ 15.5%€12,836▼ 19.0%€17,187▲ 33.9%€26,938▲ 56.7%€9,443▼ 64.9%
Net result€8,628▲ 80.9%€1,347▼ 84.4%€8,671▲ 544%€19,114▲ 120%-€6,658
EBIT margin38.5%11.7%▼ 26.8pp
Equity€83,584▲ 11.5%€84,931▲ 1.6%€93,602▲ 10.2%€112,716▲ 20.4%€106,058▼ 5.9%
Total assets€405,671▼ 5.3%€377,671▼ 6.9%€383,461▲ 1.5%€376,716▼ 1.8%€464,137▲ 23.2%
Debt€322,087▼ 8.9%€292,740▼ 9.1%€289,858▼ 1.0%€264,000▼ 8.9%€356,579▲ 35.1%
Working capital-€30,039▲ 54.8%-€13,469▲ 55.2%€3,026€23,464▲ 675%-€38,282
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 65% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €464,137
Fixed assets
€448,481 ▲ 36.9%
Current assets
€15,655 ▼ 68.2%
Equity and liabilities €464,137
Equity
€106,058 ▼ 5.9%
Provisions
€1,500
Debt
€356,579 ▲ 35.1%
Debt's share of the balance-sheet total rises from 70.1% to 76.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€28,128▼
2023 · €45,623
Cash flow
€12,026▼
2023 · €37,799
Current ratio
0.29▼
2023 · 1.91
Debt to equity
3.36▲
2023 · 2.34
ROE
-6.3%▼
2023 · 17.0%
ROA
-1.4%▼
2023 · 5.1%
Interest coverage
4.58▼
2023 · 7.37
Debt ≤ 1 year
€53,938▲
2023 · €25,767
Debt > 1 year
€302,641▲
2023 · €238,232
Income taxes
€9,964▲
2023 · €3,030
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,507 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.6%
went bankrupt
1.8%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,507 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €69,921 | €80,707 | ▲ 15.4% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €15,456 | €27,827 | ▲ 80.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,314 | €29,314 | €28,269 | €18,685 | €18,685 | = |
| Other operating charges640/8 | - | €4,491 | €8,135 | €8,842 | €24,751 | ▲ 180% |
| Gross operating margin9900 | €50,654 | €46,641 | €53,591 | €54,465 | €52,879 | ▼ 2.9% |
| Operating profit (loss)9901 | €15,841 | €12,836 | €17,187 | €26,938 | €9,443 | ▼ 64.9% |
| Financial income75/76B | - | - | - | €1,400 | - | - |
| Recurring financial income75 | - | - | - | €1,400 | - | - |
| Financial charges65/66B | - | €6,848 | €6,520 | €6,194 | €6,138 | ▼ 0.9% |
| Recurring financial charges65 | €7,213 | €6,848 | €6,520 | €6,194 | €6,138 | ▼ 0.9% |
| Profit (loss) for the period before taxes9903 | €8,628 | €5,988 | €10,667 | €22,143 | €3,305 | ▼ 85.1% |
| Income taxes67/77 | - | €4,641 | €1,996 | €3,030 | €9,964 | ▲ 229% |
| Profit (loss) for the period9904 | €8,628 | €1,347 | €8,671 | €19,114 | -€6,658 | ▼ 135% |
| Profit (loss) for the period to be appropriated9905 | €8,628 | €1,347 | €8,671 | €19,114 | -€6,658 | ▼ 135% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €405,671 | €377,671 | €383,461 | €376,716 | €464,137 | ▲ 23.2% |
| Formation expenses20 | €9,584 | €9,584 | - | - | - | - |
| Fixed assets21/28 | €385,299 | €355,984 | €346,169 | €327,484 | €448,481 | ▲ 36.9% |
| Intangible fixed assets21 | - | - | - | - | €122,845 | - |
| Tangible fixed assets22/27 | €385,099 | €355,784 | €345,969 | €327,284 | €325,436 | ▼ 0.6% |
| Land and buildings22 | - | €343,745 | €326,191 | €308,637 | €291,083 | ▼ 5.7% |
| Furniture and vehicles24 | - | €1,028 | €9,897 | €9,897 | €12,741 | ▲ 28.7% |
| Other tangible fixed assets26 | - | €11,011 | €9,880 | €8,750 | €21,612 | ▲ 147% |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €200 | = |
| Current assets29/58 | €10,788 | €12,103 | €37,292 | €49,232 | €15,655 | ▼ 68.2% |
| Amounts receivable within one year40/41 | - | - | - | €5,000 | - | - |
| Other amounts receivable41 | - | - | - | €5,000 | - | - |
| Cash at bank and in hand54/58 | €3,457 | €5,370 | €33,897 | €36,874 | €9,277 | ▼ 74.8% |
| Deferred charges and accrued income490/1 | - | €6,733 | €3,395 | €7,358 | €6,379 | ▼ 13.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €405,671 | €377,671 | €383,461 | €376,716 | €464,137 | ▲ 23.2% |
| Equity10/15 | €83,584 | €84,931 | €93,602 | €112,716 | €106,058 | ▼ 5.9% |
| Contributions10/11 | €27,268 | €27,268 | €27,268 | €27,268 | €27,268 | = |
| Outside capital11 | - | €27,268 | - | - | - | - |
| Share premium1100/10 | - | €27,268 | - | - | - | - |
| Reserves13 | €1,910 | €1,910 | €1,910 | €1,910 | €1,910 | = |
| Non-distributable reserves130/1 | - | €1,910 | €1,910 | €1,910 | - | - |
| Reserves not available under the articles1311 | - | - | €1,910 | €1,910 | - | - |
| Other1319 | - | €1,910 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €1,910 | - |
| Profit (loss) carried forward14 | €54,406 | €55,753 | €64,424 | €83,538 | €76,880 | ▼ 8.0% |
| Provisions and deferred taxes16 | - | - | - | - | €1,500 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €1,500 | - |
| Other liabilities and charges164/5 | - | - | - | - | €1,500 | - |
| Amounts payable17/49 | €322,087 | €292,740 | €289,858 | €264,000 | €356,579 | ▲ 35.1% |
| Amounts payable after more than one year17 | €281,260 | €267,169 | €255,593 | €238,232 | €302,641 | ▲ 27.0% |
| Financial debts170/4 | - | €267,169 | €255,593 | €238,232 | €302,641 | ▲ 27.0% |
| Amounts payable within one year42/48 | €40,827 | €25,572 | €34,266 | €25,767 | €53,938 | ▲ 109% |
| Current portion of amounts payable after more than one year42 | - | €324 | €324 | €324 | €2,059 | ▲ 536% |
| Trade debts44 | €4,738 | €3,224 | €4,228 | €1,541 | €2,432 | ▲ 57.8% |
| Suppliers440/4 | - | €3,224 | €4,228 | €1,541 | €2,432 | ▲ 57.8% |
| Advances received on contracts in progress46 | - | - | - | - | €640 | - |
| Other amounts payable47/48 | - | €22,024 | €29,713 | €23,903 | €48,806 | ▲ 104% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,628 | €1,347 | €8,671 | €19,114 | -€6,658 | ▼ 135% |
| + Depreciation and write-downs630 | €29,314 | €29,314 | €28,269 | €18,685 | €18,685 | = |
| Operating cash flow (approximation) | €37,943 | €30,661 | €36,940 | €37,799 | €12,026 | ▼ 68.2% |
| Investment in fixed assets (approximation) | - | €0 | -€18,453 | €0 | -€139,682 | - |
| Change in cash | - | €1,913 | €28,527 | €2,977 | -€27,597 | ▼ 1,027% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet -€6,658
Net result drops to -€6,658, the lowest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 61 days late
2023
31-12
Financial
Highest result since 2018net €19,114 ▲120%
Operating result €26,938, net result €19,114, both a record.
31-12
Financial
Equity above €100,000Eq €112,716 ▲20.4%
6 profitable years in a row build equity to €112,716.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 32 days late
25-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 237 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 1.09
Current ratio from 0.47 to 1.09.
2021
20-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 51 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
27-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 27 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Agatha-Berchem · 1 establishment unit since 1967
Ground area
1,617 m²
Building footprint
366 m²
Volume, LiDAR
2,399 m³
2 parcels, Brussels · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Clematisstraat 43, 1083 Ganshoren
since 19672.000.269.563
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21003A0384/00A000 | Brussels | 1,342 m² | 1 · 246 m² | 9.0 m · 2 fl. |
| 21008A0112/00N002 | Brussels | 274 m² | 1 · 120 m² | 11.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded09-01-1967
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0402092021
Also
9925:BE0402092021
Registered
25-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.