DE MULDER CONSTRUCT: 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
DE MULDER CONSTRUCT
NACE 43.240, Other construction installation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€302,942
2024 · €236,700+€66,242
Equity
€4.4m
2024 · €4.1m+€302,942
Cash
€975,366
2024 · €903,881+€71,485
Balance sheet total
€5.0m
2024 · €4.7m+€309,109
Largest movements
Assets
- Current investments +€600,000
up €600,000 (+35.3%), from €1.7m to €2.3m
- Tangible fixed assets -€326,170
down €326,170 (-27.9%), from €1.2m to €844,791
of which Plant, machinery and equipment: -€289,741
- Cash +€71,485
up €71,485 (+7.9%), from €903,881 to €975,366
mainly Depreciation (+€328,069) and Net result for the year (+€302,942)
Equity and liabilities
- Profit (loss) carried forward +€302,942
up €302,942 (+8.2%), from €3.7m to €4.0m
Income statement
- Gross operating margin +€91,942
up €91,942 (+13.9%), from €660,763 to €752,705
- Depreciation -€28,902
down €28,902 (-8.1%), from €356,971 to €328,069
- Taxes +€23,732
up €23,732 (+29.7%), from €79,978 to €103,710
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
€236,700
Gross operating margin
+€91,942
Staff costs
-€1,363
Depreciation
+€28,902
Other operating charges
-€296
Other operating items
-€34,503
Financial income
+€6,412
Financial charges
-€1,120
Taxes
-€23,732
Result 2025
€302,942
Cash bridge derived
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
+€673,384
Investment
-€601,899
Financing
€0
Cash 2024
€903,881
From operations (derived)
+€673,384
Net result for the year
+€302,942
Depreciation
+€328,069
Stocks and contracts
+€25,831
Receivables within one year
+€5,493
Deferred charges and accrued income
+€4,882
Trade debts
-€32,390
Tax, wage and social debts
+€17,473
Other debts
+€20,201
Accrued charges and deferred income
+€883
Investment (derived)
-€601,899
Investment in fixed assets (net)
-€1,899
Current investments
-€600,000
Cash 2025
€975,366
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,687,742 | €4,996,852 | +€309,109 | +6.6% |
| Fixed assets | 21/28 | €1,171,677 | €845,506 | -€326,170 | -27.8% |
| Tangible fixed assets | 22/27 | €1,170,961 | €844,791 | -€326,170 | -27.9% |
| Land and buildings | 22 | €682,708 | €663,346 | -€19,362 | -2.8% |
| Plant, machinery and equipment | 23 | €428,394 | €138,652 | -€289,741 | -67.6% |
| Furniture and vehicles | 24 | €59,859 | €42,793 | -€17,067 | -28.5% |
| Financial fixed assets | 28 | €715 | €715 | = | 0.0% |
| Current assets | 29/58 | €3,516,066 | €4,151,345 | +€635,280 | +18.1% |
| Stocks and contracts in progress | 3 | €563,730 | €537,899 | -€25,831 | -4.6% |
| Stocks | 30/36 | €304,280 | €285,663 | -€18,617 | -6.1% |
| Contracts in progress | 37 | €259,450 | €252,236 | -€7,214 | -2.8% |
| Amounts receivable within one year | 40/41 | €331,498 | €326,005 | -€5,493 | -1.7% |
| Trade receivables | 40 | €49,603 | €25,097 | -€24,506 | -49.4% |
| Other amounts receivable | 41 | €281,895 | €300,908 | +€19,013 | +6.7% |
| Current investments | 50/53 | €1,700,000 | €2,300,000 | +€600,000 | +35.3% |
| Cash at bank and in hand | 54/58 | €903,881 | €975,366 | +€71,485 | +7.9% |
| Deferred charges and accrued income | 490/1 | €16,957 | €12,075 | -€4,882 | -28.8% |
| Total equity and liabilities | 10/49 | €4,687,742 | €4,996,852 | +€309,109 | +6.6% |
| Equity | 10/15 | €4,078,978 | €4,381,920 | +€302,942 | +7.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €305,676 | €305,676 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,222 | €6,222 | = | 0.0% |
| Legal reserve | 130 | €6,222 | €6,222 | = | 0.0% |
| Tax-exempt reserves | 132 | €119,758 | €119,758 | = | 0.0% |
| Distributable reserves | 133 | €179,696 | €179,696 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,711,302 | €4,014,243 | +€302,942 | +8.2% |
| Amounts payable | 17/49 | €608,764 | €614,932 | +€6,168 | +1.0% |
| Amounts payable within one year | 42/48 | €587,622 | €592,906 | +€5,284 | +0.9% |
| Trade debts | 44 | €179,538 | €147,149 | -€32,390 | -18.0% |
| Suppliers | 440/4 | €179,538 | €147,149 | -€32,390 | -18.0% |
| Taxes, remuneration and social security | 45 | €26,749 | €44,223 | +€17,473 | +65.3% |
| Taxes | 450/3 | €26,749 | €44,223 | +€17,473 | +65.3% |
| Other amounts payable | 47/48 | €381,334 | €401,535 | +€20,201 | +5.3% |
| Accrued charges and deferred income | 492/3 | €21,142 | €22,026 | +€883 | +4.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €1,363 | +€1,363 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €356,971 | €328,069 | -€28,902 | -8.1% |
| Other operating charges | 640/8 | €16,523 | €16,819 | +€296 | +1.8% |
| Non-recurring operating charges | 66A | €0 | €34,503 | +€34,503 | |
| Gross operating margin | 9900 | €660,763 | €752,705 | +€91,942 | +13.9% |
| Operating profit (loss) | 9901 | €287,269 | €371,950 | +€84,682 | +29.5% |
| Financial income | 75/76B | €59,103 | €65,515 | +€6,412 | +10.8% |
| Recurring financial income | 75 | €59,103 | €65,515 | +€6,412 | +10.8% |
| Financial charges | 65/66B | €29,694 | €30,814 | +€1,120 | +3.8% |
| Recurring financial charges | 65 | €29,694 | €30,814 | +€1,120 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €316,678 | €406,651 | +€89,974 | +28.4% |
| Income taxes | 67/77 | €79,978 | €103,710 | +€23,732 | +29.7% |
| Profit (loss) for the period | 9904 | €236,700 | €302,942 | +€66,242 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €236,700 | €302,942 | +€66,242 | +28.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.