INGRID MULLENS: 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.
INGRID MULLENS
Largest movements
- Current investments +€15,562
up €15,562 (+22.2%), from €70,000 to €85,562
- Receivables within one year +€14,771
up €14,771 (+2181.9%), from €677 to €15,448
of which Trade receivables: +€14,771
- Tangible fixed assets +€6,421
up €6,421 (+26.5%), from €24,261 to €30,682
of which Furniture and vehicles: +€4,166
- Cash -€5,007
down €5,007 (-11.1%), from €44,994 to €39,987
mainly Current investments (-€15,562) and Receivables within one year (-€14,771)
- Reserves +€26,262
up €26,262 (+26.4%), from €99,455 to €125,717
- Tax, wage and social debts +€3,746
up €3,746 (+198.2%), from €1,890 to €5,636
- Trade debts +€2,737
up €2,737 (+88.6%), from €3,090 to €5,827
- Gross operating margin +€8,542
up €8,542 (+23.5%), from €36,358 to €44,900
- Taxes +€6,043
up €6,043 (+70.5%), from €8,576 to €14,619
- Financial income +€4,550
new in 2025: €4,550
- Depreciation +€1,017
up €1,017 (+37.4%), from €2,722 to €3,739
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €141,000 | €172,781 | +€31,782 | +22.5% |
| Fixed assets | 21/28 | €24,261 | €30,682 | +€6,421 | +26.5% |
| Tangible fixed assets | 22/27 | €24,261 | €30,682 | +€6,421 | +26.5% |
| Plant, machinery and equipment | 23 | €3,021 | €2,520 | -€501 | -16.6% |
| Furniture and vehicles | 24 | €7,020 | €11,186 | +€4,166 | +59.3% |
| Other tangible fixed assets | 26 | €14,220 | €16,976 | +€2,756 | +19.4% |
| Current assets | 29/58 | €116,739 | €142,100 | +€25,360 | +21.7% |
| Amounts receivable within one year | 40/41 | €677 | €15,448 | +€14,771 | +2181.9% |
| Trade receivables | 40 | €253 | €15,024 | +€14,771 | +5840.7% |
| Other amounts receivable | 41 | €424 | €424 | = | 0.0% |
| Current investments | 50/53 | €70,000 | €85,562 | +€15,562 | +22.2% |
| Cash at bank and in hand | 54/58 | €44,994 | €39,987 | -€5,007 | -11.1% |
| Deferred charges and accrued income | 490/1 | €1,068 | €1,103 | +€34 | +3.2% |
| Total equity and liabilities | 10/49 | €141,000 | €172,781 | +€31,782 | +22.5% |
| Equity | 10/15 | €118,055 | €144,317 | +€26,262 | +22.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,455 | €125,717 | +€26,262 | +26.4% |
| Distributable reserves | 133 | €99,455 | €125,717 | +€26,262 | +26.4% |
| Amounts payable | 17/49 | €22,945 | €28,465 | +€5,520 | +24.1% |
| Amounts payable within one year | 42/48 | €22,945 | €28,465 | +€5,520 | +24.1% |
| Financial debts | 43 | €3,043 | €3,028 | -€15 | -0.5% |
| Credit institutions | 430/8 | €3,043 | €3,028 | -€15 | -0.5% |
| Trade debts | 44 | €3,090 | €5,827 | +€2,737 | +88.6% |
| Suppliers | 440/4 | €3,090 | €5,827 | +€2,737 | +88.6% |
| Taxes, remuneration and social security | 45 | €1,890 | €5,636 | +€3,746 | +198.2% |
| Taxes | 450/3 | €1,890 | €5,636 | +€3,746 | +198.2% |
| Other amounts payable | 47/48 | €14,921 | €13,974 | -€948 | -6.4% |
| Non-recurring operating income | 76A | €12,307 | - | -€12,307 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,722 | €3,739 | +€1,017 | +37.4% |
| Other operating charges | 640/8 | €919 | €925 | +€5 | +0.6% |
| Gross operating margin | 9900 | €36,358 | €44,900 | +€8,542 | +23.5% |
| Operating profit (loss) | 9901 | €32,716 | €40,237 | +€7,520 | +23.0% |
| Financial income | 75/76B | - | €4,550 | +€4,550 | |
| Recurring financial income | 75 | - | €4,550 | +€4,550 | |
| Financial charges | 65/66B | €3,848 | €3,907 | +€58 | +1.5% |
| Recurring financial charges | 65 | €3,848 | €3,907 | +€58 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €28,868 | €40,880 | +€12,012 | +41.6% |
| Income taxes | 67/77 | €8,576 | €14,619 | +€6,043 | +70.5% |
| Profit (loss) for the period | 9904 | €20,292 | €26,262 | +€5,970 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,292 | €26,262 | +€5,970 | +29.4% |
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 10 October 2026 via checked.be.