LODE MULIER: what changed
LODE MULIER
Largest movements
- Cash -€187,489
down €187,489 (-29.2%), from €642,334 to €454,845
mainly Stocks and contracts (-€93,421) and Contributions, distributions and other (-€75,258)
- Stocks and contracts +€93,421
up €93,421 (+192%), from €48,575 to €141,997
of which Contracts in progress: +€96,198
- Receivables within one year +€37,953
up €37,953 (+53.9%), from €70,386 to €108,339
of which Trade receivables: +€39,966
- Tangible fixed assets -€17,842
down €17,842 (-89.7%), from €19,896 to €2,054
of which Plant, machinery and equipment: -€13,475
- Reserves -€71,736
down €71,736 (-9.8%), from €733,579 to €661,843
- Staff costs +€9,728
up €9,728 (+6.6%), from €148,372 to €158,100
- Financial income +€4,947
up €4,947 (+40.7%), from €12,144 to €17,091
- Depreciation -€1,814
down €1,814 (-9.2%), from €19,657 to €17,842
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €791,092 | €717,134 | -€73,957 | -9.3% |
| Fixed assets | 21/28 | €29,796 | €11,954 | -€17,842 | -59.9% |
| Tangible fixed assets | 22/27 | €19,896 | €2,054 | -€17,842 | -89.7% |
| Plant, machinery and equipment | 23 | €15,529 | €2,054 | -€13,475 | -86.8% |
| Furniture and vehicles | 24 | €4,368 | €0 | -€4,368 | -100% |
| Financial fixed assets | 28 | €9,900 | €9,900 | = | 0.0% |
| Current assets | 29/58 | €761,296 | €705,181 | -€56,115 | -7.4% |
| Stocks and contracts in progress | 3 | €48,575 | €141,997 | +€93,421 | +192% |
| Stocks | 30/36 | €48,575 | €45,798 | -€2,777 | -5.7% |
| Contracts in progress | 37 | - | €96,198 | +€96,198 | |
| Amounts receivable within one year | 40/41 | €70,386 | €108,339 | +€37,953 | +53.9% |
| Trade receivables | 40 | €60,578 | €100,544 | +€39,966 | +66.0% |
| Other amounts receivable | 41 | €9,808 | €7,795 | -€2,013 | -20.5% |
| Cash at bank and in hand | 54/58 | €642,334 | €454,845 | -€187,489 | -29.2% |
| Total equity and liabilities | 10/49 | €791,092 | €717,134 | -€73,957 | -9.3% |
| Equity | 10/15 | €752,179 | €680,443 | -€71,736 | -9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €733,579 | €661,843 | -€71,736 | -9.8% |
| Distributable reserves | 133 | €733,579 | €661,843 | -€71,736 | -9.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €38,913 | €36,692 | -€2,221 | -5.7% |
| Amounts payable within one year | 42/48 | €30,360 | €34,207 | +€3,847 | +12.7% |
| Trade debts | 44 | €2,509 | €4,240 | +€1,731 | +69.0% |
| Suppliers | 440/4 | €2,509 | €4,240 | +€1,731 | +69.0% |
| Taxes, remuneration and social security | 45 | €8,446 | €7,012 | -€1,434 | -17.0% |
| Taxes | 450/3 | €1,417 | €1,457 | +€40 | +2.8% |
| Remuneration and social security | 454/9 | €7,029 | €5,556 | -€1,474 | -21.0% |
| Other amounts payable | 47/48 | €19,404 | €22,954 | +€3,550 | +18.3% |
| Accrued charges and deferred income | 492/3 | €8,553 | €2,485 | -€6,068 | -70.9% |
| Remuneration, social security and pensions | 62 | €148,372 | €158,100 | +€9,728 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,657 | €17,842 | -€1,814 | -9.2% |
| Other operating charges | 640/8 | €1,844 | €2,861 | +€1,017 | +55.1% |
| Gross operating margin | 9900 | €166,497 | €167,831 | +€1,334 | +0.8% |
| Operating profit (loss) | 9901 | -€3,375 | -€10,972 | -€7,597 | -225% |
| Financial income | 75/76B | €12,144 | €17,091 | +€4,947 | +40.7% |
| Recurring financial income | 75 | €12,144 | €17,091 | +€4,947 | +40.7% |
| Financial charges | 65/66B | €329 | €333 | +€3 | +1.0% |
| Recurring financial charges | 65 | €329 | €333 | +€3 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €8,440 | €5,786 | -€2,653 | -31.4% |
| Income taxes | 67/77 | €3,332 | €2,264 | -€1,068 | -32.1% |
| Profit (loss) for the period | 9904 | €5,107 | €3,522 | -€1,585 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,107 | €3,522 | -€1,585 | -31.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.