DR. MULKERS: what changed
What changed
DR. MULKERS
filed annual accounts (NBB)
Net result for the year
€198,866
2024 · €188,149+€10,717
Equity
€1.7m
2024 · €1.5m+€198,866
Cash
€822,339
2024 · €486,558+€335,781
Balance sheet total
€1.7m
2024 · €1.5m+€206,768
Largest movements
Assets
- Cash +€335,781
up €335,781 (+69.0%), from €486,558 to €822,339
mainly Net result for the year (+€198,866) and Current investments (+€121,069)
- Current investments -€121,069
down €121,069 (-14.2%), from €855,079 to €734,010
Equity and liabilities
- Reserves +€198,866
up €198,866 (+13.7%), from €1.5m to €1.7m
of which Distributable reserves: +€198,866
Income statement
- Gross operating margin +€22,878
up €22,878 (+8.6%), from €267,121 to €289,999
- Taxes +€4,420
up €4,420 (+5.3%), from €83,231 to €87,651
- Financial income -€3,865
down €3,865 (-22.7%), from €17,054 to €13,189
- Depreciation +€3,336
up €3,336 (+65.1%), from €5,121 to €8,457
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€188,149
Gross operating margin
+€22,878
Depreciation
-€3,336
Other operating charges
-€1,282
Financial income
-€3,865
Financial charges
+€742
Taxes
-€4,420
Result 2025
€198,866
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€218,886
Investment
+€116,895
Financing
€0
Cash 2024
€486,558
From operations (derived)
+€218,886
Net result for the year
+€198,866
Depreciation
+€8,457
Receivables within one year
+€4,263
Deferred charges and accrued income
-€602
Trade debts
-€656
Tax, wage and social debts
+€11,579
Other debts
-€4,072
Accrued charges and deferred income
+€1,050
Investment (derived)
+€116,895
Investment in fixed assets (net)
-€4,175
Current investments
+€121,069
Cash 2025
€822,339
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,505,538 | €1,712,306 | +€206,768 | +13.7% |
| Fixed assets | 21/28 | €39,063 | €34,780 | -€4,283 | -11.0% |
| Tangible fixed assets | 22/27 | €39,063 | €34,780 | -€4,283 | -11.0% |
| Plant, machinery and equipment | 23 | €402 | €3,849 | +€3,447 | +857% |
| Furniture and vehicles | 24 | €34,674 | €26,944 | -€7,729 | -22.3% |
| Other tangible fixed assets | 26 | €3,987 | €3,987 | = | 0.0% |
| Current assets | 29/58 | €1,466,475 | €1,677,526 | +€211,050 | +14.4% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €120,652 | €116,389 | -€4,263 | -3.5% |
| Trade receivables | 40 | €453 | €1,575 | +€1,122 | +248% |
| Other amounts receivable | 41 | €120,200 | €114,815 | -€5,385 | -4.5% |
| Current investments | 50/53 | €855,079 | €734,010 | -€121,069 | -14.2% |
| Cash at bank and in hand | 54/58 | €486,558 | €822,339 | +€335,781 | +69.0% |
| Deferred charges and accrued income | 490/1 | €2,186 | €2,787 | +€602 | +27.5% |
| Total equity and liabilities | 10/49 | €1,505,538 | €1,712,306 | +€206,768 | +13.7% |
| Equity | 10/15 | €1,472,921 | €1,671,787 | +€198,866 | +13.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,452,921 | €1,651,787 | +€198,866 | +13.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,934 | €1,934 | = | 0.0% |
| Distributable reserves | 133 | €1,448,987 | €1,647,853 | +€198,866 | +13.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €32,617 | €40,519 | +€7,902 | +24.2% |
| Amounts payable within one year | 42/48 | €32,617 | €39,469 | +€6,852 | +21.0% |
| Trade debts | 44 | €9,507 | €8,851 | -€656 | -6.9% |
| Suppliers | 440/4 | €9,507 | €8,851 | -€656 | -6.9% |
| Taxes, remuneration and social security | 45 | €8,231 | €19,810 | +€11,579 | +141% |
| Taxes | 450/3 | €8,231 | €19,810 | +€11,579 | +141% |
| Other amounts payable | 47/48 | €14,880 | €10,808 | -€4,072 | -27.4% |
| Accrued charges and deferred income | 492/3 | - | €1,050 | +€1,050 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,121 | €8,457 | +€3,336 | +65.1% |
| Other operating charges | 640/8 | €3,944 | €5,227 | +€1,282 | +32.5% |
| Gross operating margin | 9900 | €267,121 | €289,999 | +€22,878 | +8.6% |
| Operating profit (loss) | 9901 | €258,055 | €276,315 | +€18,260 | +7.1% |
| Financial income | 75/76B | €17,054 | €13,189 | -€3,865 | -22.7% |
| Recurring financial income | 75 | €17,054 | €13,189 | -€3,865 | -22.7% |
| Financial charges | 65/66B | €3,730 | €2,988 | -€742 | -19.9% |
| Recurring financial charges | 65 | €3,730 | €2,988 | -€742 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €271,380 | €286,517 | +€15,137 | +5.6% |
| Income taxes | 67/77 | €83,231 | €87,651 | +€4,420 | +5.3% |
| Profit (loss) for the period | 9904 | €188,149 | €198,866 | +€10,717 | +5.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €188,149 | €198,866 | +€10,717 | +5.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.