Ing. KOEN MULIER: 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.
Ing. KOEN MULIER
Largest movements
- Cash -€37,187
down €37,187 (-55.3%), from €67,194 to €30,007
mainly Other debts (-€96,684) and Debts after one year (-€20,882)
- Receivables within one year -€32,194
down €32,194 (-72.0%), from €44,717 to €12,524
of which Trade receivables: -€32,194
- Tangible fixed assets -€30,878
down €30,878 (-6.9%), from €444,887 to €414,009
of which Land and buildings: -€16,932
- Other debts -€96,684
down €96,684 (-54.0%), from €179,119 to €82,435
- Debts after one year -€20,882
down €20,882 (-6.4%), from €327,203 to €306,321
- Reserves +€14,546
up €14,546 (+7.5%), from €194,474 to €209,020
- Gross operating margin -€3,739
down €3,739 (-4.9%), from €76,577 to €72,837
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 | €759,584 | €660,929 | -€98,655 | -13.0% |
| Fixed assets | 21/28 | €644,887 | €614,009 | -€30,878 | -4.8% |
| Tangible fixed assets | 22/27 | €444,887 | €414,009 | -€30,878 | -6.9% |
| Land and buildings | 22 | €390,882 | €373,950 | -€16,932 | -4.3% |
| Furniture and vehicles | 24 | €42,555 | €31,283 | -€11,272 | -26.5% |
| Other tangible fixed assets | 26 | €11,450 | €8,776 | -€2,674 | -23.4% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €114,697 | €46,920 | -€67,777 | -59.1% |
| Amounts receivable within one year | 40/41 | €44,717 | €12,524 | -€32,194 | -72.0% |
| Trade receivables | 40 | €44,717 | €12,524 | -€32,194 | -72.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €67,194 | €30,007 | -€37,187 | -55.3% |
| Deferred charges and accrued income | 490/1 | €2,785 | €4,389 | +€1,604 | +57.6% |
| Total equity and liabilities | 10/49 | €759,584 | €660,929 | -€98,655 | -13.0% |
| Equity | 10/15 | €213,074 | €227,620 | +€14,546 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,474 | €209,020 | +€14,546 | +7.5% |
| Distributable reserves | 133 | €194,474 | €209,020 | +€14,546 | +7.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €546,510 | €433,309 | -€113,201 | -20.7% |
| Amounts payable after more than one year | 17 | €327,203 | €306,321 | -€20,882 | -6.4% |
| Financial debts | 170/4 | €327,203 | €306,321 | -€20,882 | -6.4% |
| Amounts payable within one year | 42/48 | €209,063 | €117,113 | -€91,951 | -44.0% |
| Current portion of amounts payable after more than one year | 42 | €20,309 | €20,882 | +€573 | +2.8% |
| Financial debts | 43 | €0 | €3,365 | +€3,365 | |
| Credit institutions | 430/8 | €0 | €3,365 | +€3,365 | |
| Trade debts | 44 | €4,302 | €3,111 | -€1,191 | -27.7% |
| Suppliers | 440/4 | €4,302 | €3,111 | -€1,191 | -27.7% |
| Taxes, remuneration and social security | 45 | €5,334 | €7,319 | +€1,985 | +37.2% |
| Taxes | 450/3 | €5,334 | €7,319 | +€1,985 | +37.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €179,119 | €82,435 | -€96,684 | -54.0% |
| Accrued charges and deferred income | 492/3 | €10,244 | €9,875 | -€369 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,878 | €30,878 | = | 0.0% |
| Other operating charges | 640/8 | €3,360 | €2,686 | -€674 | -20.1% |
| Gross operating margin | 9900 | €76,577 | €72,837 | -€3,739 | -4.9% |
| Operating profit (loss) | 9901 | €42,339 | €39,273 | -€3,065 | -7.2% |
| Financial income | 75/76B | €249 | €153 | -€96 | -38.7% |
| Recurring financial income | 75 | €249 | €153 | -€96 | -38.7% |
| Financial charges | 65/66B | €14,515 | €13,860 | -€655 | -4.5% |
| Recurring financial charges | 65 | €14,515 | €13,860 | -€655 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €28,073 | €25,566 | -€2,507 | -8.9% |
| Income taxes | 67/77 | €11,544 | €11,020 | -€525 | -4.5% |
| Profit (loss) for the period | 9904 | €16,528 | €14,546 | -€1,982 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,528 | €14,546 | -€1,982 | -12.0% |
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 28 October 2026 via checked.be.