De Mul Management: 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.
De Mul Management
Largest movements
- Cash +€41,847
up €41,847 (+46.9%), from €89,181 to €131,028
mainly Debts after one year (+€44,231) and Receivables within one year (+€23,673)
- Receivables within one year -€23,673
down €23,673 (-76.9%), from €30,798 to €7,126
- Tangible fixed assets -€12,064
down €12,064 (-21.9%), from €55,080 to €43,016
of which Furniture and vehicles: -€17,699
- Debts after one year +€44,231
up €44,231 (+240%), from €18,421 to €62,652
of which Other amounts payable: +€60,000
- Other debts -€34,871
down €34,871 (-93.4%), from €37,323 to €2,452
- Reserves -€5,556
down €5,556 (-2.7%), from €208,159 to €202,602
- Gross operating margin +€36,826
up €36,826, from -€18,942 to €17,884
- Other operating charges -€796
down €796 (-42.1%), from €1,891 to €1,095
- Financial income -€414
down €414 (-36.6%), from €1,133 to €719
- Depreciation +€325
up €325 (+1.5%), from €21,746 to €22,072
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €305,077 | €308,667 | +€3,589 | +1.2% |
| Fixed assets | 21/28 | €175,080 | €163,510 | -€11,570 | -6.6% |
| Tangible fixed assets | 22/27 | €55,080 | €43,016 | -€12,064 | -21.9% |
| Furniture and vehicles | 24 | €37,557 | €19,858 | -€17,699 | -47.1% |
| Other tangible fixed assets | 26 | €17,523 | €23,158 | +€5,635 | +32.2% |
| Financial fixed assets | 28 | €120,000 | €120,494 | +€494 | +0.4% |
| Current assets | 29/58 | €129,997 | €145,156 | +€15,159 | +11.7% |
| Amounts receivable within one year | 40/41 | €30,798 | €7,126 | -€23,673 | -76.9% |
| Other amounts receivable | 41 | €30,798 | €7,126 | -€23,673 | -76.9% |
| Current investments | 50/53 | €1,745 | €1,745 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €89,181 | €131,028 | +€41,847 | +46.9% |
| Deferred charges and accrued income | 490/1 | €8,273 | €5,257 | -€3,016 | -36.5% |
| Total equity and liabilities | 10/49 | €305,077 | €308,667 | +€3,589 | +1.2% |
| Equity | 10/15 | €208,259 | €202,702 | -€5,556 | -2.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €208,159 | €202,602 | -€5,556 | -2.7% |
| Distributable reserves | 133 | €208,159 | €202,602 | -€5,556 | -2.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €96,819 | €105,964 | +€9,146 | +9.4% |
| Amounts payable after more than one year | 17 | €18,421 | €62,652 | +€44,231 | +240% |
| Financial debts | 170/4 | €18,421 | €2,652 | -€15,769 | -85.6% |
| Other amounts payable | 178/9 | - | €60,000 | +€60,000 | |
| Amounts payable within one year | 42/48 | €78,398 | €43,312 | -€35,086 | -44.8% |
| Current portion of amounts payable after more than one year | 42 | €15,526 | €15,769 | +€243 | +1.6% |
| Financial debts | 43 | €1,193 | €267 | -€926 | -77.6% |
| Credit institutions | 430/8 | €1,193 | €267 | -€926 | -77.6% |
| Trade debts | 44 | €5,705 | €5,548 | -€158 | -2.8% |
| Suppliers | 440/4 | €5,705 | €5,548 | -€158 | -2.8% |
| Advances received on contracts in progress | 46 | €15,730 | €15,730 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,920 | €3,546 | +€626 | +21.4% |
| Taxes | 450/3 | €2,920 | €3,546 | +€626 | +21.4% |
| Other amounts payable | 47/48 | €37,323 | €2,452 | -€34,871 | -93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,746 | €22,072 | +€325 | +1.5% |
| Other operating charges | 640/8 | €1,891 | €1,095 | -€796 | -42.1% |
| Gross operating margin | 9900 | -€18,942 | €17,884 | +€36,826 | |
| Operating profit (loss) | 9901 | -€42,580 | -€5,283 | +€37,297 | +87.6% |
| Financial income | 75/76B | €1,133 | €719 | -€414 | -36.6% |
| Recurring financial income | 75 | €1,133 | €719 | -€414 | -36.6% |
| Financial charges | 65/66B | €790 | €688 | -€102 | -12.9% |
| Recurring financial charges | 65 | €790 | €688 | -€102 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€42,236 | -€5,252 | +€36,984 | +87.6% |
| Income taxes | 67/77 | €232 | €304 | +€73 | +31.4% |
| Profit (loss) for the period | 9904 | -€42,467 | -€5,556 | +€36,911 | +86.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,467 | -€5,556 | +€36,911 | +86.9% |
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 23 October 2026 via checked.be.