DE MULDER: 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 MULDER
Largest movements
- Cash +€1,481
up €1,481 (+21.8%), from €6,806 to €8,287
mainly Trade debts (+€8,571) and Net result for the year (+€3,424)
- Trade debts +€8,571
up €8,571 (+63.7%), from €13,445 to €22,016
- Other debts -€6,610
down €6,610 (-42.5%), from €15,568 to €8,958
- Profit (loss) carried forward +€3,424
up €3,424 (+4.7%), from -€73,352 to -€69,928
- Tax, wage and social debts -€3,214
down €3,214 (-25.6%), from €12,569 to €9,355
of which Remuneration and social security: -€3,754
- Gross operating margin -€5,373
down €5,373 (-15.3%), from €35,193 to €29,819
- Staff costs +€4,490
up €4,490 (+35.1%), from €12,797 to €17,288
- Financial charges -€1,021
down €1,021 (-24.2%), from €4,228 to €3,206
- Write-downs +€956
new in 2025: €956
- Financial income +€880
new in 2025: €880
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 | €116,648 | €119,360 | +€2,712 | +2.3% |
| Fixed assets | 21/28 | €5,025 | €4,286 | -€739 | -14.7% |
| Tangible fixed assets | 22/27 | €5,025 | €4,286 | -€739 | -14.7% |
| Land and buildings | 22 | €2,020 | €1,663 | -€357 | -17.7% |
| Plant, machinery and equipment | 23 | €3,005 | €1,657 | -€1,348 | -44.9% |
| Furniture and vehicles | 24 | - | €966 | +€966 | |
| Current assets | 29/58 | €111,623 | €115,074 | +€3,451 | +3.1% |
| Stocks and contracts in progress | 3 | €104,816 | €105,870 | +€1,053 | +1.0% |
| Stocks | 30/36 | €104,816 | €105,870 | +€1,053 | +1.0% |
| Amounts receivable within one year | 40/41 | €0 | €822 | +€822 | |
| Trade receivables | 40 | €0 | €718 | +€718 | |
| Other amounts receivable | 41 | €0 | €105 | +€105 | |
| Cash at bank and in hand | 54/58 | €6,806 | €8,287 | +€1,481 | +21.8% |
| Deferred charges and accrued income | 490/1 | - | €95 | +€95 | |
| Total equity and liabilities | 10/49 | €116,648 | €119,360 | +€2,712 | +2.3% |
| Equity | 10/15 | €25,065 | €28,489 | +€3,424 | +13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €79,817 | €79,817 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,949 | €7,949 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,949 | €7,949 | = | 0.0% |
| Distributable reserves | 133 | €71,867 | €71,867 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,352 | -€69,928 | +€3,424 | +4.7% |
| Amounts payable | 17/49 | €91,583 | €90,871 | -€712 | -0.8% |
| Amounts payable within one year | 42/48 | €91,583 | €90,871 | -€712 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €13,445 | €22,016 | +€8,571 | +63.7% |
| Suppliers | 440/4 | €13,445 | €22,016 | +€8,571 | +63.7% |
| Advances received on contracts in progress | 46 | - | €542 | +€542 | |
| Taxes, remuneration and social security | 45 | €12,569 | €9,355 | -€3,214 | -25.6% |
| Taxes | 450/3 | €1,842 | €2,382 | +€539 | +29.3% |
| Remuneration and social security | 454/9 | €10,727 | €6,973 | -€3,754 | -35.0% |
| Other amounts payable | 47/48 | €15,568 | €8,958 | -€6,610 | -42.5% |
| Remuneration, social security and pensions | 62 | €12,797 | €17,288 | +€4,490 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,705 | €1,917 | +€212 | +12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €956 | +€956 | |
| Other operating charges | 640/8 | €3,046 | €3,908 | +€862 | +28.3% |
| Gross operating margin | 9900 | €35,193 | €29,819 | -€5,373 | -15.3% |
| Operating profit (loss) | 9901 | €17,644 | €5,751 | -€11,893 | -67.4% |
| Financial income | 75/76B | - | €880 | +€880 | |
| Recurring financial income | 75 | - | €880 | +€880 | |
| Financial charges | 65/66B | €4,228 | €3,206 | -€1,021 | -24.2% |
| Recurring financial charges | 65 | €4,228 | €3,206 | -€1,021 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €13,416 | €3,424 | -€9,992 | -74.5% |
| Income taxes | 67/77 | €257 | €0 | -€257 | -100% |
| Profit (loss) for the period | 9904 | €13,160 | €3,424 | -€9,736 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,160 | €3,424 | -€9,736 | -74.0% |
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 30 October 2026 via checked.be.