MULLER
Open bankruptcyFinancials · financial year 2024, abbreviated format
2024 annual accounts filed 29 days after the deadline Filed on 29 August 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00450251.
Annual accounts 2024 filed on 29-08-2025 PDF all 31 filings
Turnover
€5.1m▼ 47.8%
2022 · €9.8m
EBIT margin
-39.6%▼ 38.1pp
2022 · -1.5%
Net result
€2.4m
2023 · -€2.3m
Working capital
€1.0m
2023 · -€2.9m
Multi-year overview
2018 to 2024, 7 financial yearsTurnover
no figure
2024
20182024
Operating result
€2.8m
2024
20182024
Net result
€2.4m
2024
highest quarter of the sector
20182024
EBIT margin
no figure
2024
20182024
Equity
€1.1m
▲ 183%
2024
middle half of the sector
20182024
Total assets
€2.4m
▼ 66.5%
2024
middle half of the sector
20182024
Debt
€1.3m
▼ 80.9%
2024
20182024
Working capital
€1.0m
2024
highest quarter of the sector
20182024
Solvency
46.2%
▲ 40.7pp
2024
middle half of the sector
20182024
Current ratio
1.79
▲ 1.22
2024
middle half of the sector
20182024
Return on assets (ROA)
98.9%
▲ 130.9pp
2024
highest quarter of the sector
20182024
Staff (FTE)
8.6
▼ 60.2%
2024
highest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€13.8m-€13.4m▼ 2.6%€13.5m▲ 0.9%€13.2m▼ 2.7%€9.8m▼ 25.3%€5.1m▼ 47.8%
Operating result€0.4m-€0.5m▲ 22.8%€0.6m▲ 8.5%€0.7m▲ 19.8%-€0.1m-€2.0m▼ 1,282%€2.8m
Net result-€0.06m-€0.04m€0.03mwithin the sector's middle half▼ 23.5%€0.1mwithin the sector's middle half▲ 328%-€0.6mbelow the sector's middle half-€2.3mbelow the sector's middle half▼ 269%€2.4mabove the sector's middle half
EBIT margin3.1%-3.9%▲ 0.8pp4.2%▲ 0.3pp5.2%▲ 1.0pp-1.5%▼ 6.7pp-39.6%▼ 38.1pp
Equity€2.8m-€2.8m▲ 1.3%€2.8mwithin the sector's middle half▲ 1.0%€2.8mwithin the sector's middle half▼ 2.2%€2.7mwithin the sector's middle half▼ 2.7%€0.4mwithin the sector's middle half▼ 85.4%€1.1mwithin the sector's middle half▲ 183%
Total assets€11.0m-€11.1m▲ 1.1%€10.3mabove the sector's middle half▼ 7.5%€10.1mwithin the sector's middle half▼ 1.3%€9.9mwithin the sector's middle half▼ 2.8%€7.2mwithin the sector's middle half▼ 26.8%€2.4mwithin the sector's middle half▼ 66.5%
Debt€8.2m-€8.3m▲ 1.0%€7.4m▼ 10.4%€7.4m▼ 0.9%€7.2m▼ 2.8%€6.8m▼ 4.6%€1.3m▼ 80.9%
Working capital-€0.08m--€0.3m▼ 242%-€0.1mbelow the sector's middle half▲ 52.6%-€0.4mbelow the sector's middle half▼ 202%-€0.7mbelow the sector's middle half▼ 98.3%-€2.9mbelow the sector's middle half▼ 294%€1.0mabove the sector's middle half
Solvency25.3%-25.3%▲ 0.1pp27.7%within the sector's middle half▲ 2.3pp27.4%within the sector's middle half▼ 0.3pp27.4%within the sector's middle half=5.5%below the sector's middle half▼ 22.0pp46.2%within the sector's middle half▲ 40.7pp
Current ratio0.99-0.97▼ 0.020.98below the sector's middle half▲ 0.020.95below the sector's middle half▼ 0.030.89below the sector's middle half▼ 0.060.57below the sector's middle half▼ 0.331.79within the sector's middle half▲ 1.22
Return on assets (ROA)-0.5%-0.3%▲ 0.9pp0.3%below the sector's middle half▼ 0.1pp1.1%within the sector's middle half▲ 0.9pp-6.3%below the sector's middle half▼ 7.5pp-32.0%below the sector's middle half▼ 25.6pp98.9%above the sector's middle half▲ 130.9pp
Staff (FTE)25.3-25.4▲ 0.4%24.5within the sector's middle half▼ 3.5%25.7within the sector's middle half▲ 4.9%24.9within the sector's middle half▼ 3.1%21.6within the sector's middle half▼ 13.3%8.6above the sector's middle half▼ 60.2%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a profit of €2.8m, after a loss of €2.0m in 2023. It is the highest result since 2020.
Large changes and their cause
- 2024 Staff (FTE) -60% on 2023. The accounts now follow the abbreviated format, last year the full format.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.4m
Fixed assets
€96,030 ▼ 97.2%
Current assets
€2.3m ▼ 39.0%
Equity and liabilities €2.4m
Equity
€1.1m ▲ 183%
Debt
€1.3m ▼ 80.9%
Debt's share of the balance-sheet total falls from 94.5% to 53.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.9m▲
2023 · -€1.8m
Cash flow
€2.5m▲
2023 · -€2.1m
Debt to equity
1.17▼
2023 · 17.32
ROE
214.2%▲
2023 · -586.1%
Interest coverage
26.71▲
2023 · -7.19
Debt ≤ 1 year
€1.3m▼
2023 · €6.7m
Debt > 1 year
€4,455▼
2023 · €58,884
Income taxes
€282,124▲
2023 · €13,577
Staff costs
€920,350▼
2023 · €1.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 28 | 26 | 21 | 6 |
| full-time | 17 | 12 | 9 | 3 |
| part-time | 11 | 14 | 12 | 3 |
| in full-time equivalents | 25.7 | 23.1 | 18.8 | 5.5 |
| Average over the year, in full-time equivalents | 25.7 | 24.9 | 21.6 | 8.6 |
| On a permanent contract | 28 | 26 | 21 | 6 |
| Joined | 1 | 1 | 0 | 2 |
| Left | 1 | 3 | 5 | 17 |
| Agency workers, average number | 0.5 | 0.3 | - | - |
Source: social balance sheet in the 2021 to 2024 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Overdue tax debts | - | €210,472 | €26,108 | - |
Source: notes to the 2021 to 2024 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €4.9m | €4.8m | €4.6m | - |
| Debts guaranteed by Belgian public bodies | €75,525 | - | - | - |
| Mortgages, amount registered | €991,574 | €991,574 | €3.2m | - |
| Mortgage mandates | €2.2m | €2.2m | €0 | - |
| Carrying value of the mortgaged assets | €2.8m | €3.3m | €3.2m | - |
| Pledge on the business | €4.8m | €4.8m | €4.8m | - |
Source: notes to the 2021 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €37,369 | €7,351 | €7,313 | - |
| Intangible fixed assets | €118,986 | €53,480 | - | - |
| Depreciation and write-downs of the year | €219,037 | €223,183 | €224,425 | €99,979 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fee for the audit | €16,000 | €16,000 | €16,000 | - |
| Other work by the auditor | - | €1,913 | €1,215 | - |
Source: notes to the 2021 to 2024 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €13.5m | €10.1m | €5.5m | - | - |
| Turnover70 | €13.8m | €13.4m | €13.5m | €13.2m | €9.8m | €5.1m | - | - |
| Other operating income74 | - | - | - | €0.4m | €0.3m | €0.3m | - | - |
| Non-recurring operating income76A | - | - | - | €0.003m | €0.004m | €0.003m | €4.8m | ▲ 1,755× |
| Operating charges60/66A | - | - | - | €12.8m | €10.2m | €7.5m | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €9.4m | €7.0m | €4.3m | - | - |
| Purchases600/8 | - | - | - | €9.1m | €6.6m | €2.4m | - | - |
| Change in stocks: decrease (increase)609 | - | - | - | €0.3m | €0.4m | €1.9m | - | - |
| Services and other goods61 | - | - | - | €1.7m | €1.4m | €1.1m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.5m | €1.6m | €1.5m | €0.9m | ▼ 37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 55.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.002m | €0.06m | €0.3m | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €0.04m | €0.05m | €0.06m | €0.06m | ▲ 6.4% |
| Non-recurring operating charges66A | - | - | - | - | €269 | €0.04m | €0.005m | ▼ 86.5% |
| Gross operating margin9900 | - | - | - | - | - | - | €3.9m | - |
| Operating profit (loss)9901 | €0.4m | €0.5m | €0.6m | €0.7m | -€0.1m | -€2.0m | €2.8m | - |
| Financial income75/76B | - | - | - | €0.07m | €0.04m | €0.09m | €0.005m | ▼ 94.8% |
| Recurring financial income75 | €0.1m | €0.09m | €0.09m | €0.07m | €0.04m | €0.09m | €0.005m | ▼ 94.8% |
| Income from current assets751 | - | - | - | €0.02m | €0.03m | €0.07m | - | - |
| Other financial income752/9 | - | - | - | €0.05m | €0.004m | €0.01m | - | - |
| Financial charges65/66B | - | - | - | €0.6m | €0.5m | €0.3m | €0.1m | ▼ 69.1% |
| Recurring financial charges65 | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.3m | €0.1m | ▼ 69.1% |
| Debt charges650 | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | - | - |
| Other financial charges652/9 | - | - | - | €0.2m | €0.1m | €0.1m | - | - |
| Profit (loss) for the period before taxes9903 | -€0.06m | €0.03m | €0.08m | €0.2m | -€0.6m | -€2.3m | €2.7m | - |
| Income taxes67/77 | €0.003m | -€0.002m | €0.06m | €0.04m | €0.02m | €0.01m | €0.3m | ▲ 21× |
| Taxes670/3 | - | - | - | €0.05m | €0.02m | €0.01m | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.002m | - | - | - | - |
| Profit (loss) for the period9904 | -€0.06m | €0.04m | €0.03m | €0.1m | -€0.6m | -€2.3m | €2.4m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.06m | €0.04m | €0.03m | €0.1m | -€0.6m | -€2.3m | €2.4m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €11.0m | €11.1m | €10.3m | €10.1m | €9.9m | €7.2m | €2.4m | ▼ 66.5% |
| Formation expenses20 | €28 | - | - | - | - | - | - | - |
| Fixed assets21/28 | €3.4m | €3.4m | €3.3m | €3.2m | €3.6m | €3.4m | €0.1m | ▼ 97.2% |
| Intangible fixed assets21 | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | €0.05m | ▼ 59.0% |
| Tangible fixed assets22/27 | €3.3m | €3.3m | €3.1m | €3.0m | €3.4m | €3.3m | €0.05m | ▼ 98.6% |
| Land and buildings22 | - | - | - | €2.8m | €3.3m | €3.2m | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €0.06m | €0.05m | €0.04m | €0.03m | ▼ 23.6% |
| Furniture and vehicles24 | - | - | - | €0.009m | €0.01m | €0.02m | €0.01m | ▼ 17.3% |
| Leasing and similar rights25 | - | - | - | €0.02m | €0.02m | €0.01m | €0.004m | ▼ 60.0% |
| Other tangible fixed assets26 | - | - | - | €0.06m | €0.02m | €0.01m | €33 | ▼ 99.7% |
| Financial fixed assets28 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €40 | €40 | = |
| Other financial fixed assets284/8 | - | - | - | €0.006m | €0.006m | €40 | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.006m | €0.006m | €40 | - | - |
| Current assets29/58 | €7.6m | €7.7m | €7.0m | €6.9m | €6.2m | €3.8m | €2.3m | ▼ 39.0% |
| Amounts receivable after more than one year29 | - | - | - | €0.07m | €0.06m | €0.06m | €0.06m | ▼ 4.2% |
| Other amounts receivable291 | - | - | - | €0.07m | €0.06m | €0.06m | €0.06m | ▼ 4.2% |
| Stocks and contracts in progress3 | €3.4m | €3.7m | €3.9m | €3.6m | €3.2m | €1.1m | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €3.6m | €3.2m | €1.1m | €0 | ▼ 100% |
| Goods purchased for resale34 | - | - | - | €3.6m | €3.2m | €1.1m | - | - |
| Amounts receivable within one year40/41 | €2.8m | €2.9m | €2.3m | €2.6m | €2.3m | €2.1m | €1.7m | ▼ 18.9% |
| Trade receivables40 | - | - | - | €2.0m | €1.0m | €0.6m | €0.07m | ▼ 88.1% |
| Other amounts receivable41 | - | - | - | €0.6m | €1.3m | €1.6m | €1.6m | ▲ 6.0% |
| Current investments50/53 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Own shares50 | - | - | - | €0.5m | €0.5m | €0.5m | - | - |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.08m | €0.01m | €0.06m | €0.003m | €0.01m | ▲ 297% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.04m | €0.03m | €0.007m | ▼ 77.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €11.0m | €11.1m | €10.3m | €10.1m | €9.9m | €7.2m | €2.4m | ▼ 66.5% |
| Equity10/15 | €2.8m | €2.8m | €2.8m | €2.8m | €2.7m | €0.4m | €1.1m | ▲ 183% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Contributions outside capital11 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Share premium1100/10 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Revaluation surpluses12 | - | - | - | €1.2m | €1.7m | €1.7m | €0 | ▼ 100% |
| Reserves13 | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €0.8m | €0.8m | ▲ 4.9% |
| Non-distributable reserves130/1 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Own shares acquired1312 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 18.9% |
| Profit (loss) carried forward14 | €333 | €0.001m | €0.001m | €134 | -€0.6m | -€2.9m | -€0.5m | ▲ 81.4% |
| Amounts payable17/49 | €8.2m | €8.3m | €7.4m | €7.4m | €7.2m | €6.8m | €1.3m | ▼ 80.9% |
| Amounts payable after more than one year17 | €0.5m | €0.3m | €0.3m | €0.07m | €0.2m | €0.06m | €0.004m | ▼ 92.4% |
| Financial debts170/4 | - | - | - | €0.07m | €0.2m | €0.06m | €0.004m | ▼ 92.4% |
| Leasing and similar obligations172 | - | - | - | €0.02m | €0.02m | €0.009m | - | - |
| Credit institutions173 | - | - | - | €0.05m | €0.2m | €0.05m | - | - |
| Amounts payable within one year42/48 | €7.6m | €8.0m | €7.1m | €7.3m | €7.0m | €6.7m | €1.3m | ▼ 80.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.2m | €0.1m | €0.01m | ▼ 86.3% |
| Financial debts43 | - | - | - | €4.7m | €4.5m | €4.5m | €0.04m | ▼ 99.1% |
| Credit institutions430/8 | - | - | - | €4.7m | €4.5m | €4.5m | €0.04m | ▼ 99.1% |
| Trade debts44 | €1.4m | €2.0m | €1.5m | €2.0m | €1.7m | €1.4m | €0.6m | ▼ 53.0% |
| Suppliers440/4 | - | - | - | €2.0m | €1.7m | €1.4m | €0.6m | ▼ 53.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.6m | €0.8m | €0.6m | ▼ 27.7% |
| Taxes450/3 | - | - | - | €0.2m | €0.4m | €0.4m | €0.4m | ▼ 2.9% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.2m | €0.4m | €0.2m | ▼ 57.0% |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.04m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.03m | €0.04m | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.06m | €0.04m | €0.03m | €0.1m | -€0.6m | -€2.3m | €2.4m | - |
| + Depreciation and write-downs630 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 55.5% |
| Operating cash flow (approximation) | €0.2m | €0.2m | €0.2m | €0.3m | -€0.4m | -€2.1m | €2.5m | - |
| Investment in fixed assets (approximation) | - | -€0.2m | -€0.1m | -€0.2m | -€0.6m | -€0.001m | €3.2m | - |
| Change in cash | - | -€0.04m | -€0.02m | -€0.06m | €0.04m | -€0.06m | €0.008m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00450251 | |
| 31-12-2023 | full format | 06-09-2024 | 2024-00457533 | |
| 31-12-2022 | full format | 22-02-2024 | 2024-00033807 | |
| 31-12-2021 | full format | 16-08-2022 | 2022-20290833 | |
| 31-12-2020 | full format | 29-07-2021 | 2021-44200376 | |
| 31-12-2019 | full format | 06-07-2020 | 2020-27100004 | |
| 31-12-2018 | full format | 22-08-2019 | 2019-49400017 | |
| 31-12-2017 | abbreviated format | 24-07-2018 | 2018-37800308 | |
| 31-12-2016 | abbreviated format | 03-07-2017 | 2017-26200582 | |
| 31-12-2015 | abbreviated format | 04-07-2016 | 2016-27100369 |