Au Moulin: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
Au Moulin
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€838,289
2024 · €622,198+€216,091
Equity
€14.4m
2024 · €13.6m+€797,205
Cash
€24,164
2024 · €350,163-€325,999
Balance sheet total
€21.2m
2024 · €21.5m-€294,037
Largest movements
Assets
- Receivables within one year +€1.0m
up €1.0m (+88.2%), from €1.2m to €2.2m
of which Other amounts receivable: +€1.0m
- Tangible fixed assets -€952,642
down €952,642 (-5.4%), from €17.6m to €16.6m
of which Other tangible fixed assets: -€952,642
- Cash -€325,999
down €325,999 (-93.1%), from €350,163 to €24,164
mainly Receivables within one year (-€1.0m) and Debts after one year (-€916,204)
Equity and liabilities
- Profit (loss) carried forward +€1.1m
up €1.1m (+23.0%), from €4.7m to €5.8m
- Debts after one year -€916,204
down €916,204 (-17.6%), from €5.2m to €4.3m
of which Financial debts: -€916,204
Income statement
- Gross operating margin +€305,520
up €305,520 (+15.8%), from €1.9m to €2.2m
- Taxes +€147,893
up €147,893 (+54.2%), from €273,072 to €420,965
- Financial income -€37,695
down €37,695 (-99.5%), from €37,899 to €203
- Financial charges -€25,707
down €25,707 (-14.7%), from €175,069 to €149,363
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€622,198
Gross operating margin
+€305,520
Depreciation
+€135
Other operating charges
-€6,664
Financial income
-€37,695
Financial charges
+€25,707
Taxes
-€147,893
Deferred taxes and other
+€76,983
Result 2025
€838,289
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€377,982
Investment
+€259,869
Financing
-€963,850
Cash 2024
€350,163
From operations (derived)
+€377,982
Net result for the year
+€838,289
Depreciation
+€743,792
Receivables within one year
-€1.0m
Deferred charges and accrued income
-€822
Provisions
-€80,658
Trade debts
-€213,918
Tax, wage and social debts
+€120,904
Other debts
+€16,973
Accrued charges and deferred income
-€11,776
Investment (derived)
+€259,869
Investment in fixed assets (net)
+€212,545
Current investments
+€47,324
Financing
-€963,850
Debts after one year
-€916,204
Current portion of long-term debt
-€6,562
Contributions, distributions and other
-€41,084
Cash 2025
€24,164
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,464,939 | €21,170,903 | -€294,037 | -1.4% |
| Fixed assets | 21/28 | €19,886,155 | €18,929,819 | -€956,337 | -4.8% |
| Intangible fixed assets | 21 | €157,522 | €157,522 | = | 0.0% |
| Tangible fixed assets | 22/27 | €17,585,012 | €16,632,371 | -€952,642 | -5.4% |
| Land and buildings | 22 | €18,425 | €18,425 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €17,566,587 | €16,613,946 | -€952,642 | -5.4% |
| Financial fixed assets | 28 | €2,143,621 | €2,139,926 | -€3,695 | -0.2% |
| Current assets | 29/58 | €1,578,784 | €2,241,084 | +€662,300 | +42.0% |
| Amounts receivable within one year | 40/41 | €1,173,612 | €2,208,414 | +€1.0m | +88.2% |
| Trade receivables | 40 | €8,194 | €14,496 | +€6,301 | +76.9% |
| Other amounts receivable | 41 | €1,165,418 | €2,193,918 | +€1.0m | +88.3% |
| Current investments | 50/53 | €53,393 | €6,069 | -€47,324 | -88.6% |
| Cash at bank and in hand | 54/58 | €350,163 | €24,164 | -€325,999 | -93.1% |
| Deferred charges and accrued income | 490/1 | €1,615 | €2,437 | +€822 | +50.9% |
| Total equity and liabilities | 10/49 | €21,464,939 | €21,170,903 | -€294,037 | -1.4% |
| Equity | 10/15 | €13,621,178 | €14,418,383 | +€797,205 | +5.9% |
| Contributions | 10/11 | €136,500 | €136,500 | = | 0.0% |
| Capital | 10 | €136,500 | €136,500 | = | 0.0% |
| Issued capital | 100 | €136,500 | €136,500 | = | 0.0% |
| Revaluation surpluses | 12 | €2,128,450 | €1,916,802 | -€211,649 | -9.9% |
| Reserves | 13 | €6,662,653 | €6,591,243 | -€71,409 | -1.1% |
| Non-distributable reserves | 130/1 | €13,650 | €13,650 | = | 0.0% |
| Legal reserve | 130 | €13,650 | €13,650 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,776,991 | €2,535,018 | -€241,974 | -8.7% |
| Distributable reserves | 133 | €3,872,011 | €4,042,576 | +€170,565 | +4.4% |
| Profit (loss) carried forward | 14 | €4,693,575 | €5,773,838 | +€1.1m | +23.0% |
| Provisions and deferred taxes | 16 | €915,643 | €834,985 | -€80,658 | -8.8% |
| Deferred taxes | 168 | €915,643 | €834,985 | -€80,658 | -8.8% |
| Amounts payable | 17/49 | €6,928,118 | €5,917,534 | -€1.0m | -14.6% |
| Amounts payable after more than one year | 17 | €5,192,285 | €4,276,081 | -€916,204 | -17.6% |
| Financial debts | 170/4 | €5,190,576 | €4,274,372 | -€916,204 | -17.7% |
| Other amounts payable | 178/9 | €1,709 | €1,709 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,454,022 | €1,371,419 | -€82,603 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €922,769 | €916,207 | -€6,562 | -0.7% |
| Trade debts | 44 | €322,575 | €108,657 | -€213,918 | -66.3% |
| Suppliers | 440/4 | €322,575 | €108,657 | -€213,918 | -66.3% |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €33,139 | €154,043 | +€120,904 | +365% |
| Taxes | 450/3 | €33,139 | €154,043 | +€120,904 | +365% |
| Other amounts payable | 47/48 | €175,539 | €192,512 | +€16,973 | +9.7% |
| Accrued charges and deferred income | 492/3 | €281,811 | €270,034 | -€11,776 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €743,926 | €743,792 | -€135 | 0.0% |
| Other operating charges | 640/8 | €155,161 | €161,825 | +€6,664 | +4.3% |
| Gross operating margin | 9900 | €1,927,853 | €2,233,373 | +€305,520 | +15.8% |
| Operating profit (loss) | 9901 | €1,028,766 | €1,327,756 | +€298,990 | +29.1% |
| Financial income | 75/76B | €37,899 | €203 | -€37,695 | -99.5% |
| Recurring financial income | 75 | €37,899 | €203 | -€37,695 | -99.5% |
| Financial charges | 65/66B | €175,069 | €149,363 | -€25,707 | -14.7% |
| Recurring financial charges | 65 | €175,069 | €149,363 | -€25,707 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €891,595 | €1,178,596 | +€287,001 | +32.2% |
| Transfer from deferred taxes | 780 | €37,834 | €80,658 | +€42,824 | +113% |
| Transfer to deferred taxes | 680 | €34,159 | €0 | -€34,159 | -100% |
| Income taxes | 67/77 | €273,072 | €420,965 | +€147,893 | +54.2% |
| Profit (loss) for the period | 9904 | €622,198 | €838,289 | +€216,091 | +34.7% |
| Transfer from tax-exempt reserves | 789 | €113,502 | €241,974 | +€128,472 | +113% |
| Transfer to tax-exempt reserves | 689 | €102,476 | €0 | -€102,476 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €633,224 | €1,080,263 | +€447,039 | +70.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.