Mulders
ActiveSummary
Mulders has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €275,041. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 86% of 10552 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability92▲+4
Solvency100▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 3.99 against 2.64 in 2024; short-term debt: 17.6% and cash: 40.3% of total assets), and 23.2% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
76.8%
Return on assets
19%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
65 d early
2023
64 d early
2022
62 d early
2021
32 d early
2020
45 d early
2019
59 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 54 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 30 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#10 employer in Scherpenheuvel-Zichem, Wholesale and retail trade sector#10 company by equity in Scherpenheuvel-Zichem, Wholesale and retail trade sector
Equity
€1.1m▲ 29.3%
2024 · €860,300
Total assets
€1.4m▲ 13.0%
2024 · €1.3m
Net result
€275,041▲ 35.8%
2024 · €202,574
Working capital
€764,929▲ 53.5%
2024 · €498,459
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€47,440▼ 47.9%€151,045▲ 218%€166,617▲ 10.3%€301,256▲ 80.8%€405,576▲ 34.6%
Net result€29,504within the sector's middle half▼ 57.7%€113,117within the sector's middle half▲ 283%€114,892within the sector's middle half▲ 1.6%€202,574above the sector's middle half▲ 76.3%€275,041above the sector's middle half▲ 35.8%
Equity€513,273within the sector's middle half▲ 6.1%€596,390within the sector's middle half▲ 16.2%€711,282above the sector's middle half▲ 19.3%€860,300above the sector's middle half▲ 21.0%€1.1mabove the sector's middle half▲ 29.3%
Total assets€918,021within the sector's middle half▲ 0.7%€1.1mwithin the sector's middle half▲ 22.8%€1.2mwithin the sector's middle half▲ 5.0%€1.3mwithin the sector's middle half▲ 8.4%€1.4mwithin the sector's middle half▲ 13.0%
Debt€404,748▼ 5.5%€530,523▲ 31.1%€471,973▼ 11.0%€422,432▼ 10.5%€336,592▼ 20.3%
Working capital€505,735above the sector's middle half▲ 11.3%€567,569above the sector's middle half▲ 12.2%€357,288within the sector's middle half▼ 37.0%€498,459within the sector's middle half▲ 39.5%€764,929above the sector's middle half▲ 53.5%
Solvency55.9%within the sector's middle half▲ 2.9pp52.9%within the sector's middle half▼ 3.0pp60.1%within the sector's middle half▲ 7.2pp67.1%above the sector's middle half▲ 7.0pp76.8%above the sector's middle half▲ 9.7pp
Current ratio3.00above the sector's middle half▲ 0.282.72within the sector's middle half▼ 0.272.19within the sector's middle half▼ 0.532.64within the sector's middle half▲ 0.453.99above the sector's middle half▲ 1.35
Return on assets (ROA)3.2%within the sector's middle half▼ 4.4pp10.0%within the sector's middle half▲ 6.8pp9.7%within the sector's middle half▼ 0.3pp15.8%above the sector's middle half▲ 6.1pp19.0%above the sector's middle half▲ 3.2pp
Staff (FTE)5.5within the sector's middle half▼ 21.4%5.6within the sector's middle half▲ 1.8%5.9within the sector's middle half▲ 5.4%6.2within the sector's middle half▲ 5.1%7within the sector's middle half▲ 12.9%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 35% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€428,458 ▼ 11.0%
Current assets
€1.0m ▲ 27.3%
Equity and liabilities €1.4m
Equity
€1.1m ▲ 29.3%
Debt
€336,592 ▼ 20.3%
Debt's share of the balance-sheet total falls from 32.9% to 23.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€523,562▲
2024 · €406,672
Cash flow
€393,026▲
2024 · €307,990
Quick ratio
2.83▲
2024 · 1.69
Debt to equity
0.30▼
2024 · 0.49
ROE
24.7%▲
2024 · 23.5%
Interest coverage
75.83▲
2024 · 46.80
Debt ≤ 1 year
€255,722▼
2024 · €303,092
Debt > 1 year
€78,489▼
2024 · €117,272
Income taxes
€127,608▲
2024 · €91,910
Staff costs
€347,441▲
2024 · €299,223
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,340 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% | 1.8% |
| 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 31,371 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €10,700 | €17,475 | €22,000 | €207 | - | - |
| Remuneration, social security and pensions62 | €206,719 | €209,324 | €258,950 | €299,223 | €347,441 | ▲ 16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €76,374 | €80,888 | €126,863 | €105,416 | €117,986 | ▲ 11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€24,748 | -€9,745 | €513 | -€2,264 | -€315 | ▲ 86.1% |
| Other operating charges640/8 | €2,394 | €2,119 | €2,296 | €2,267 | €2,341 | ▲ 3.3% |
| Non-recurring operating charges66A | - | €6,766 | - | - | - | - |
| Gross operating margin9900 | €308,179 | €440,397 | €555,239 | €705,897 | €873,029 | ▲ 23.7% |
| Operating profit (loss)9901 | €47,440 | €151,045 | €166,617 | €301,256 | €405,576 | ▲ 34.6% |
| Financial income75/76B | €845 | €697 | €701 | €1,919 | €3,978 | ▲ 107% |
| Recurring financial income75 | €845 | €697 | €701 | €1,919 | €3,978 | ▲ 107% |
| Financial charges65/66B | €9,079 | €9,423 | €9,726 | €8,690 | €6,904 | ▼ 20.6% |
| Recurring financial charges65 | €9,079 | €9,423 | €9,726 | €8,690 | €6,904 | ▼ 20.6% |
| Profit (loss) for the period before taxes9903 | €39,207 | €142,319 | €157,593 | €294,484 | €402,649 | ▲ 36.7% |
| Income taxes67/77 | €9,703 | €29,202 | €42,701 | €91,910 | €127,608 | ▲ 38.8% |
| Profit (loss) for the period9904 | €29,504 | €113,117 | €114,892 | €202,574 | €275,041 | ▲ 35.8% |
| Profit (loss) for the period to be appropriated9905 | €29,504 | €113,117 | €114,892 | €202,574 | €275,041 | ▲ 35.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €918,021 | €1.1m | €1.2m | €1.3m | €1.4m | ▲ 13.0% |
| Fixed assets21/28 | €158,912 | €229,752 | €525,859 | €481,181 | €428,458 | ▼ 11.0% |
| Intangible fixed assets21 | - | €4,671 | €2,754 | €838 | - | - |
| Tangible fixed assets22/27 | €158,912 | €225,081 | €523,105 | €480,344 | €428,458 | ▼ 10.8% |
| Land and buildings22 | €11,317 | €2,418 | €1,938 | €1,458 | €1,093 | ▼ 25.0% |
| Plant, machinery and equipment23 | €1,840 | €2,087 | €5,476 | €45,903 | €41,103 | ▼ 10.5% |
| Furniture and vehicles24 | €14,334 | €87,298 | €148,554 | €109,087 | €98,224 | ▼ 10.0% |
| Leasing and similar rights25 | €28,935 | €60,035 | €42,418 | €27,339 | €12,259 | ▼ 55.2% |
| Other tangible fixed assets26 | €102,487 | €73,243 | €324,720 | €296,557 | €275,779 | ▼ 7.0% |
| Current assets29/58 | €759,110 | €897,160 | €657,395 | €801,551 | €1.0m | ▲ 27.3% |
| Stocks and contracts in progress3 | €274,251 | €263,566 | €278,930 | €288,584 | €296,833 | ▲ 2.9% |
| Stocks30/36 | €274,251 | €263,566 | €278,930 | €288,584 | €296,833 | ▲ 2.9% |
| Amounts receivable within one year40/41 | €122,145 | €122,746 | €109,088 | €100,028 | €137,096 | ▲ 37.1% |
| Trade receivables40 | €1,053 | €6,446 | €1,063 | €5,562 | €33,137 | ▲ 496% |
| Other amounts receivable41 | €121,092 | €116,300 | €108,026 | €94,466 | €103,959 | ▲ 10.0% |
| Current investments50/53 | - | - | - | €125,000 | - | - |
| Cash at bank and in hand54/58 | €358,684 | €507,110 | €267,147 | €285,317 | €583,849 | ▲ 105% |
| Deferred charges and accrued income490/1 | €4,029 | €3,739 | €2,230 | €2,622 | €2,874 | ▲ 9.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €918,021 | €1.1m | €1.2m | €1.3m | €1.4m | ▲ 13.0% |
| Equity10/15 | €513,273 | €596,390 | €711,282 | €860,300 | €1.1m | ▲ 29.3% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €178,774 | €261,891 | €376,782 | €525,800 | €778,017 | ▲ 48.0% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €17,000 | €17,000 | €17,000 | €17,000 | €17,000 | = |
| Distributable reserves133 | €155,574 | €238,691 | €353,582 | €502,600 | €754,817 | ▲ 50.2% |
| Profit (loss) carried forward14 | €272,499 | €272,499 | €272,499 | €272,499 | €272,499 | = |
| Amounts payable17/49 | €404,748 | €530,523 | €471,973 | €422,432 | €336,592 | ▼ 20.3% |
| Amounts payable after more than one year17 | €150,831 | €176,741 | €171,174 | €117,272 | €78,489 | ▼ 33.1% |
| Financial debts170/4 | €150,831 | €176,741 | €171,174 | €117,272 | €78,489 | ▼ 33.1% |
| Amounts payable within one year42/48 | €253,374 | €329,592 | €300,107 | €303,092 | €255,722 | ▼ 15.6% |
| Current portion of amounts payable after more than one year42 | €36,734 | €64,290 | €66,053 | €59,115 | €38,232 | ▼ 35.3% |
| Trade debts44 | €44,047 | €61,096 | €55,497 | €117,965 | €73,098 | ▼ 38.0% |
| Suppliers440/4 | €44,047 | €61,096 | €55,497 | €117,965 | €73,098 | ▼ 38.0% |
| Advances received on contracts in progress46 | €1,080 | €600 | €784 | €587 | €1,033 | ▲ 76.0% |
| Taxes, remuneration and social security45 | €88,022 | €93,115 | €125,224 | €108,875 | €143,359 | ▲ 31.7% |
| Taxes450/3 | €37,444 | €44,070 | €63,508 | €51,084 | €87,243 | ▲ 70.8% |
| Remuneration and social security454/9 | €50,578 | €49,046 | €61,716 | €57,791 | €56,116 | ▼ 2.9% |
| Other amounts payable47/48 | €83,491 | €110,491 | €52,550 | €16,550 | - | - |
| Accrued charges and deferred income492/3 | €543 | €24,189 | €691 | €2,068 | €2,381 | ▲ 15.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,504 | €113,117 | €114,892 | €202,574 | €275,041 | ▲ 35.8% |
| + Depreciation and write-downs630 | €76,374 | €80,888 | €126,863 | €105,416 | €117,986 | ▲ 11.9% |
| Operating cash flow (approximation) | €105,877 | €194,004 | €241,755 | €307,990 | €393,026 | ▲ 27.6% |
| Investment in fixed assets (approximation) | - | -€151,728 | -€422,970 | -€60,738 | -€65,262 | ▼ 7.4% |
| Change in cash | - | €148,425 | -€239,963 | €18,170 | €298,532 | ▲ 1,543% |
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
Next filing, fiscal year 2026, expected by
2026
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €275,041 ▲35.8%
Operating result €405,576, net result €275,041, both a record.
31-12
Financial
Equity above €1mEq €1.1m ▲29.3%
7 profitable years in a row build equity to €1.1m.
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €500,000Eq €513,273 ▲6.1%
3 profitable years in a row build equity to €513,273.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €1,571
Net result €1,571 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 13 days late
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Scherpenheuvel-Zichem · 1 establishment unit since 1991
Ground area
1,476 m²
Building footprint
164 m²
Volume, LiDAR
95 m³
Parcel 24005D0649/00R014, Flanders · tallest building 7.9 m. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Westelsebaan 97, 3271 Scherpenheuvel-Zichem
since 19912.051.762.014
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24005D0649/00R014 | Flanders | 1,476 m² | 1 · 164 m² | 7.9 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 4,530 EUR awarded · 4,530 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,530 EUR | 2,530 EUR |
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
254900II2SG5XFA5HJ03
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Company details
Identification
Legal formPublic limited company
Founded11-02-1991
Fiscal year end31-12
Activities, NACEBEL 2025
47742Retail sale of prescription glasses, lenses and sunglasses
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442956537
Registered
12-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.