De Mulder Projects: 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 Projects
Largest movements
- Deferred charges and accrued income -€81,475
no longer reported in 2025 (was €81,475)
- Receivables within one year +€74,877
up €74,877 (+150%), from €49,853 to €124,730
of which Other amounts receivable: +€44,372
- Cash +€13,523
up €13,523 (+21.2%), from €63,922 to €77,445
mainly Deferred charges and accrued income (+€81,475) and Investment in fixed assets (net) (+€5,779)
- Tangible fixed assets -€11,539
down €11,539 (-26.0%), from €44,414 to €32,875
of which Furniture and vehicles: -€9,831
- Current portion of long-term debt -€8,584
no longer reported in 2025 (was €8,584)
- Tax, wage and social debts +€3,923
new in 2025: €3,923
- Turnover -€224,100
no longer reported in 2025 (was €224,100)
- Purchases and services -€183,945
no longer reported in 2025 (was €183,945)
- Gross operating margin -€38,724
down €38,724 (-92.7%), from €41,791 to €3,067
- Taxes -€21,841
down €21,841, from €18,528 to -€3,314
- Depreciation -€10,283
down €10,283 (-64.1%), from €16,043 to €5,760
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 | €349,664 | €345,051 | -€4,613 | -1.3% |
| Fixed assets | 21/28 | €154,414 | €142,875 | -€11,539 | -7.5% |
| Tangible fixed assets | 22/27 | €44,414 | €32,875 | -€11,539 | -26.0% |
| Land and buildings | 22 | €27,270 | €25,707 | -€1,563 | -5.7% |
| Plant, machinery and equipment | 23 | €145 | - | -€145 | |
| Furniture and vehicles | 24 | €17,000 | €7,169 | -€9,831 | -57.8% |
| Financial fixed assets | 28 | €110,000 | €110,000 | = | 0.0% |
| Current assets | 29/58 | €195,250 | €202,175 | +€6,925 | +3.5% |
| Amounts receivable within one year | 40/41 | €49,853 | €124,730 | +€74,877 | +150% |
| Trade receivables | 40 | €23,535 | €54,040 | +€30,506 | +130% |
| Other amounts receivable | 41 | €26,318 | €70,690 | +€44,372 | +169% |
| Cash at bank and in hand | 54/58 | €63,922 | €77,445 | +€13,523 | +21.2% |
| Deferred charges and accrued income | 490/1 | €81,475 | - | -€81,475 | |
| Total equity and liabilities | 10/49 | €349,664 | €345,051 | -€4,613 | -1.3% |
| Equity | 10/15 | €291,164 | €288,070 | -€3,095 | -1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €137,860 | €137,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €136,000 | €137,860 | +€1,860 | +1.4% |
| Profit (loss) carried forward | 14 | €147,104 | €144,010 | -€3,095 | -2.1% |
| Amounts payable | 17/49 | €58,500 | €56,981 | -€1,519 | -2.6% |
| Amounts payable within one year | 42/48 | €58,500 | €56,981 | -€1,519 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €8,584 | - | -€8,584 | |
| Trade debts | 44 | €42,197 | €45,482 | +€3,286 | +7.8% |
| Suppliers | 440/4 | €42,197 | €45,482 | +€3,286 | +7.8% |
| Taxes, remuneration and social security | 45 | - | €3,923 | +€3,923 | |
| Taxes | 450/3 | - | €3,923 | +€3,923 | |
| Other amounts payable | 47/48 | €7,720 | €7,576 | -€144 | -1.9% |
| Turnover | 70 | €224,100 | - | -€224,100 | |
| Non-recurring operating income | 76A | - | €10,058 | +€10,058 | |
| Goods, raw materials, services and sundry goods | 60/61 | €183,945 | - | -€183,945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,043 | €5,760 | -€10,283 | -64.1% |
| Other operating charges | 640/8 | €63 | €998 | +€935 | +1,482% |
| Non-recurring operating charges | 66A | - | €2,575 | +€2,575 | |
| Gross operating margin | 9900 | €41,791 | €3,067 | -€38,724 | -92.7% |
| Operating profit (loss) | 9901 | €25,685 | -€6,267 | -€31,952 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €577 | €141 | -€435 | -75.5% |
| Recurring financial charges | 65 | €577 | €141 | -€435 | -75.5% |
| Profit (loss) for the period before taxes | 9903 | €25,109 | -€6,408 | -€31,517 | |
| Income taxes | 67/77 | €18,528 | -€3,314 | -€21,841 | |
| Profit (loss) for the period | 9904 | €6,581 | -€3,095 | -€9,676 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,581 | -€3,095 | -€9,676 |
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 17 October 2026 via checked.be.