IMMO MULDERS: 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.
IMMO MULDERS
Largest movements
- Tangible fixed assets -€18,859
down €18,859 (-5.0%), from €379,551 to €360,693
- Cash +€10,371
up €10,371 (+16.6%), from €62,424 to €72,795
mainly Net result for the year (+€25,463) and Depreciation (+€18,859)
- Reserves +€25,463
up €25,463 (+20.1%), from €126,942 to €152,405
of which Distributable reserves: +€25,463
- Debts after one year -€23,522
down €23,522 (-25.8%), from €91,181 to €67,658
- Other debts -€12,090
down €12,090 (-8.8%), from €137,431 to €125,341
- Gross operating margin +€2,968
up €2,968 (+4.9%), from €60,552 to €63,520
- Taxes +€1,204
up €1,204 (+11.3%), from €10,679 to €11,883
- Financial charges -€908
down €908 (-17.6%), from €5,164 to €4,256
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 | €441,976 | €433,488 | -€8,487 | -1.9% |
| Fixed assets | 21/28 | €379,551 | €360,693 | -€18,859 | -5.0% |
| Tangible fixed assets | 22/27 | €379,551 | €360,693 | -€18,859 | -5.0% |
| Land and buildings | 22 | €379,551 | €360,693 | -€18,859 | -5.0% |
| Current assets | 29/58 | €62,424 | €72,795 | +€10,371 | +16.6% |
| Cash at bank and in hand | 54/58 | €62,424 | €72,795 | +€10,371 | +16.6% |
| Total equity and liabilities | 10/49 | €441,976 | €433,488 | -€8,487 | -1.9% |
| Equity | 10/15 | €188,942 | €214,405 | +€25,463 | +13.5% |
| 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 | €126,942 | €152,405 | +€25,463 | +20.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €120,742 | €146,205 | +€25,463 | +21.1% |
| Amounts payable | 17/49 | €253,034 | €219,084 | -€33,950 | -13.4% |
| Amounts payable after more than one year | 17 | €91,181 | €67,658 | -€23,522 | -25.8% |
| Financial debts | 170/4 | €91,181 | €67,658 | -€23,522 | -25.8% |
| Amounts payable within one year | 42/48 | €161,853 | €151,425 | -€10,428 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €22,576 | €23,522 | +€946 | +4.2% |
| Taxes, remuneration and social security | 45 | €1,846 | €2,562 | +€716 | +38.8% |
| Taxes | 450/3 | €1,846 | €2,562 | +€716 | +38.8% |
| Other amounts payable | 47/48 | €137,431 | €125,341 | -€12,090 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,859 | €18,859 | = | 0.0% |
| Other operating charges | 640/8 | €2,967 | €3,060 | +€93 | +3.1% |
| Gross operating margin | 9900 | €60,552 | €63,520 | +€2,968 | +4.9% |
| Operating profit (loss) | 9901 | €38,726 | €41,601 | +€2,875 | +7.4% |
| Financial charges | 65/66B | €5,164 | €4,256 | -€908 | -17.6% |
| Recurring financial charges | 65 | €5,164 | €4,256 | -€908 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €33,563 | €37,345 | +€3,783 | +11.3% |
| Income taxes | 67/77 | €10,679 | €11,883 | +€1,204 | +11.3% |
| Profit (loss) for the period | 9904 | €22,884 | €25,463 | +€2,579 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,884 | €25,463 | +€2,579 | +11.3% |
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 25 October 2026 via checked.be.