MULLER

Open bankruptcy

Public limited companyfounded 1994Industrieweg 19, 2320 Hoogstraten, BelgiumKBO/BCE: BE 0452.408.295

A bankruptcy procedure is open for MULLER according to publications in the Belgian State Gazette; curator: MARK BRUURS. The 2024 annual accounts show equity of €1.11M and a net result of €2.39M.

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Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Belgian State Gazette

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 filings

Deviation from the deadline

2025

not confirmed

2024

29 d late

2023

37 d late

2022

206 d late

2021

16 d late

2020

2 d early

2019

25 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Turnover

€5.13M▼ 47.8%

2022 · €9.82M

2018: €13.76M 2019: €13.41M 2020: €13.52M 2021: €13.15M 2022: €9.82M

2018 → 2023

EBIT margin

-39.6%▼ 38.1pp

2022 · -1.5%

2018: 3.1% 2019: 3.9% 2020: 4.2% 2021: 5.2% 2022: -1.5%

2018 → 2023

Net result

€2.39M

2023 · €-2.31M

2018: €-60k 2019: €35k 2020: €27k 2021: €116k 2022: €-625k 2023: €-2.31M

2018 → 2024

Working capital

€1.02M

2023 · €-2.92M

2018: €-76k 2019: €-261k 2020: €-124k 2021: €-373k 2022: €-740k 2023: €-2.92M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€13.52M-€13.15M▼ 2.7%€9.82M▼ 25.3%€5.13M▼ 47.8%

Equity€2.84M-€2.78M▼ 2.2%€2.70M▼ 2.7%€394k▼ 85.4%€1.11M▲ 183%

Operating result€569k-€681k▲ 19.8%€-147k€-2.03M▼ 1,282%€2.77M

Net result€27k-€116k▲ 328%€-625k€-2.31M▼ 269%€2.39M

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2024: €2.77M after a loss of €2.03M in 2023, the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €2.41M

96.0%

Fixed assets €96k▼ 97.2%

Current assets €2.32M▼ 39.0%

Equity and liabilities €2.41M

46.2%

53.8%

Equity €1.11M▲ 183%

Debt €1.30M▼ 80.9%

The debt ratio falls from 94.5% to 53.8%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€2.87M▲

2023 · €-1.81M

Cash flow

€2.49M▲

2023 · €-2.08M

Solvency

46.2%▲

2023 · 5.5%

Current ratio

1.79▲

2023 · 0.57

Quick ratio

1.79▲

2023 · 0.41

Debt / equity

1.17▼

2023 · 17.32

ROE

214.2%▲

2023 · -586.1%

ROA

98.9%▲

2023 · -32.0%

Interest coverage

26.71▲

2023 · -7.19

Debt

€1.30M▼

2023 · €6.82M

Debt ≤ 1 year

€1.29M▼

2023 · €6.72M

Debt > 1 year

€4k▼

2023 · €59k

Income taxes

€282k▲

2023 · €14k

Staff costs

€920k▼

2023 · €1.46M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€7.21M€2.41M▼

Fixed assets21/28€3.41M€96k▼

Intangible fixed assets21€118k€49k▼

Tangible fixed assets22/27€3.30M€47k▼

Land and buildings22€3.22M€0▼

Plant, machinery and equipment23€38k€29k▼

Furniture and vehicles24€17k€14k▼

Leasing and similar rights25€11k€4k▼

Other tangible fixed assets26€12k€33▼

Financial fixed assets28€40€40=

Other financial fixed assets284/8€40-

Amounts receivable and cash guarantees285/8€40-

Current assets29/58€3.80M€2.32M▼

Amounts receivable after more than one year29€62k€60k▼

Other amounts receivable291€62k€60k▼

Stocks and contracts in progress3€1.06M€0▼

Stocks30/36€1.06M€0▼

Goods purchased for resale34€1.06M-

Amounts receivable within one year40/41€2.12M€1.72M▼

Trade receivables40€561k€67k▼

Other amounts receivable41€1.56M€1.65M▲

Current investments50/53€525k€525k=

Own shares50€525k-

Cash at bank and in hand54/58€3k€10k▲

Deferred charges and accrued income490/1€30k€7k▼

Equity and liabilities

Total equity and liabilities10/49€7.21M€2.41M▼

Equity10/15€394k€1.11M▲

Contributions10/11€868k€868k=

Capital10€317k€317k=

Issued capital100€317k€317k=

Outside capital11€550k€550k=

Share premium1100/10€550k€550k=

Revaluation surpluses12€1.70M€0▼

Reserves13€754k€792k▲

Non-distributable reserves130/1€557k€557k=

Legal reserve130€32k€32k=

Own shares acquired1312€525k€525k=

Distributable reserves133€197k€235k▲

Profit (loss) carried forward14€-2.93M€-545k▲

Amounts payable17/49€6.82M€1.30M▼

Amounts payable after more than one year17€59k€4k▼

Financial debts170/4€59k€4k▼

Leasing and similar obligations172€9k-

Credit institutions173€50k-

Amounts payable within one year42/48€6.72M€1.29M▼

Current portion of amounts payable after more than one year42€106k€15k▼

Financial debts43€4.48M€40k▼

Credit institutions430/8€4.48M€40k▼

Trade debts44€1.36M€640k▼

Suppliers440/4€1.36M€640k▼

Taxes, remuneration and social security45€776k€561k▼

Taxes450/3€420k€407k▼

Remuneration and social security454/9€356k€153k▼

Other amounts payable47/48-€40k

Accrued charges and deferred income492/3€42k€0▼

Income statement Code20232024

Operating income70/76A€5.45M-

Turnover70€5.13M-

Other operating income74€320k-

Non-recurring operating income76A€3k€4.75M▲

Operating charges60/66A€7.49M-

Goods for resale, raw materials and consumables60€4.31M-

Purchases600/8€2.39M-

Change in stocks: decrease (increase)609€1.91M-

Services and other goods61€1.12M-

Remuneration, social security and pensions62€1.46M€920k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€224k€100k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€277k€0▼

Other operating charges640/8€60k€64k▲

Non-recurring operating charges66A€39k€5k▼

Gross operating margin9900-€3.86M

Operating profit (loss)9901€-2.03M€2.77M▲

Financial income75/76B€88k€5k▼

Recurring financial income75€88k€5k▼

Income from current assets751€74k-

Other financial income752/9€14k-

Financial charges65/66B€348k€108k▼

Recurring financial charges65€348k€108k▼

Debt charges650€252k-

Other financial charges652/9€97k-

Profit (loss) for the period before taxes9903€-2.29M€2.67M▲

Income taxes67/77€14k€282k▲

Taxes670/3€14k-

Profit (loss) for the period9904€-2.31M€2.39M▲

Profit (loss) for the period to be appropriated9905€-2.31M€2.39M▲

Appropriation of the result

Profit (loss) to be appropriated9906€-2.93M€-545k▲

Profit (loss) brought forward from the previous period14P€-625k€-2.93M▼

Social balance

Average headcount (FTE)908721.68.6▼

The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Signals 1Financial 5Filings 10

2025

27-10

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Turnhout · MULLER NV INDUS- TRIEWEG 19, 2320 HOOGSTRATEN · event 21-10-2025

29-08

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 29 days late

2024

31-12

Financial Back to profitnet €2.39M

Net result €2.39M after 2 loss-making years.

31-12

Financial Liquidity triplescurrent ratio 1.79

Current ratio from 0.57 to 1.79; short-term debt falls from €6.72M to €1.29M.

31-12

Financial Equity above €1MEq €1.11M ▲183%

Equity rises from €394k to €1.11M.

06-09

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 37 days late

22-02

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 206 days late

2023

31-12

Financial Weakest financial yearnet €-2.31M

Net result drops to €-2.31M, the lowest in the series.

2022

16-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 16 days late

2021

29-07

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

06-07

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Back to profitnet €35k

Net result €35k after one loss-making year.

22-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 22 days late

2018

24-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

03-07

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

04-07

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

12 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, Hoogstraten · 1 establishment unit since 1999

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Industrieweg 192320 Hoogstraten

Ground area

1.9 ha

Building footprint

6,956 m²

Volume, LiDAR

52,325 m³