MOULAN SA: 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.
What changed
MOULAN SA
NACE 46.842, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€305,494
2024 · €298,276+€7,218
Equity
€4.8m
2024 · €4.8m-€10,277
Cash
€274,676
2024 · €203,076+€71,601
Balance sheet total
€9.5m
2024 · €8.9m+€577,378
Largest movements
Assets
- Stocks and contracts +€374,145
up €374,145 (+10.5%), from €3.5m to €3.9m
- Receivables within one year +€222,617
up €222,617 (+7.9%), from €2.8m to €3.1m
of which Trade receivables: +€258,531
Equity and liabilities
- Trade debts +€204,358
up €204,358 (+17.3%), from €1.2m to €1.4m
- Short-term financial debts +€180,431
up €180,431 (+59.4%), from €303,927 to €484,358
- Other debts +€135,459
up €135,459 (+50.5%), from €268,309 to €403,767
Income statement
- Turnover +€326,049
up €326,049 (+2.1%), from €15.3m to €15.6m
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.
Result 2024
€298,276
Turnover
+€326,049
Other operating income
-€6,132
Goods and materials
-€123,982
Services and other goods
-€27,257
Staff costs
-€106,826
Depreciation
-€20,056
Write-downs
-€36,627
Other operating charges
-€18,335
Other operating items
-€11,830
Financial income
+€12,111
Financial charges
+€20,051
Taxes
+€2,424
Deferred taxes and other
-€2,371
Result 2025
€305,494
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€418,454
Investment
-€195,918
Financing
-€150,935
Cash 2024
€203,076
From operations (derived)
+€418,454
Net result for the year
+€305,494
Depreciation
+€286,848
Stocks and contracts
-€374,145
Receivables within one year
-€222,617
Smaller working-capital items
+€6
Provisions
-€1,121
Trade debts
+€204,358
Tax, wage and social debts
+€84,173
Other debts
+€135,459
Investment (derived)
-€195,918
Investment in fixed assets (net)
-€195,918
Financing
-€150,935
Debts after one year
-€22,713
Current portion of long-term debt
+€7,119
Short-term financial debts
+€180,431
Contributions, distributions and other
-€315,772
Cash 2025
€274,676
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,877,110 | €9,454,488 | +€577,378 | +6.5% |
| Fixed assets | 21/28 | €2,291,481 | €2,200,552 | -€90,929 | -4.0% |
| Tangible fixed assets | 22/27 | €2,275,542 | €2,184,613 | -€90,929 | -4.0% |
| Land and buildings | 22 | €979,495 | €895,207 | -€84,288 | -8.6% |
| Plant, machinery and equipment | 23 | €1,223,675 | €1,241,277 | +€17,603 | +1.4% |
| Furniture and vehicles | 24 | €72,372 | €48,128 | -€24,244 | -33.5% |
| Financial fixed assets | 28 | €15,940 | €15,940 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €6,000 | €6,000 | = | 0.0% |
| Participating interests | 282 | €6,000 | €6,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €9,940 | €9,940 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €9,940 | €9,940 | = | 0.0% |
| Current assets | 29/58 | €6,585,628 | €7,253,936 | +€668,307 | +10.1% |
| Stocks and contracts in progress | 3 | €3,547,557 | €3,921,702 | +€374,145 | +10.5% |
| Stocks | 30/36 | €3,547,557 | €3,921,702 | +€374,145 | +10.5% |
| Goods purchased for resale | 34 | €3,547,557 | €3,921,702 | +€374,145 | +10.5% |
| Amounts receivable within one year | 40/41 | €2,834,941 | €3,057,558 | +€222,617 | +7.9% |
| Trade receivables | 40 | €2,791,534 | €3,050,065 | +€258,531 | +9.3% |
| Other amounts receivable | 41 | €43,407 | €7,493 | -€35,914 | -82.7% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €203,076 | €274,676 | +€71,601 | +35.3% |
| Deferred charges and accrued income | 490/1 | €55 | €0 | -€55 | -100% |
| Total equity and liabilities | 10/49 | €8,877,110 | €9,454,488 | +€577,378 | +6.5% |
| Equity | 10/15 | €4,783,298 | €4,773,021 | -€10,277 | -0.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €4,683,298 | €4,609,928 | -€73,370 | -1.6% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,170 | €45,807 | -€3,364 | -6.8% |
| Distributable reserves | 133 | €4,624,128 | €4,554,121 | -€70,007 | -1.5% |
| Investment grants | 15 | €0 | €63,093 | +€63,093 | |
| Provisions and deferred taxes | 16 | €4,166 | €3,045 | -€1,121 | -26.9% |
| Deferred taxes | 168 | €4,166 | €3,045 | -€1,121 | -26.9% |
| Amounts payable | 17/49 | €4,089,645 | €4,678,422 | +€588,777 | +14.4% |
| Amounts payable after more than one year | 17 | €1,778,326 | €1,755,613 | -€22,713 | -1.3% |
| Financial debts | 170/4 | €1,778,326 | €1,755,613 | -€22,713 | -1.3% |
| Credit institutions | 173 | €1,778,326 | €1,755,613 | -€22,713 | -1.3% |
| Amounts payable within one year | 42/48 | €2,302,974 | €2,914,513 | +€611,539 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €194,012 | €201,131 | +€7,119 | +3.7% |
| Financial debts | 43 | €303,927 | €484,358 | +€180,431 | +59.4% |
| Credit institutions | 430/8 | €303,927 | €484,358 | +€180,431 | +59.4% |
| Trade debts | 44 | €1,182,616 | €1,386,974 | +€204,358 | +17.3% |
| Suppliers | 440/4 | €1,182,616 | €1,386,974 | +€204,358 | +17.3% |
| Taxes, remuneration and social security | 45 | €354,110 | €438,283 | +€84,173 | +23.8% |
| Taxes | 450/3 | €106,506 | €161,459 | +€54,953 | +51.6% |
| Remuneration and social security | 454/9 | €247,604 | €276,824 | +€29,220 | +11.8% |
| Other amounts payable | 47/48 | €268,309 | €403,767 | +€135,459 | +50.5% |
| Accrued charges and deferred income | 492/3 | €8,345 | €8,296 | -€49 | -0.6% |
| Operating income | 70/76A | €15,471,412 | €15,779,499 | +€308,087 | +2.0% |
| Turnover | 70 | €15,263,100 | €15,589,149 | +€326,049 | +2.1% |
| Other operating income | 74 | €195,982 | €189,850 | -€6,132 | -3.1% |
| Non-recurring operating income | 76A | €12,330 | €500 | -€11,830 | -95.9% |
| Operating charges | 60/66A | €15,094,935 | €15,428,018 | +€333,084 | +2.2% |
| Goods for resale, raw materials and consumables | 60 | €11,064,748 | €11,188,730 | +€123,982 | +1.1% |
| Purchases | 600/8 | €11,142,182 | €11,596,036 | +€453,853 | +4.1% |
| Change in stocks: decrease (increase) | 609 | -€77,434 | -€407,306 | -€329,871 | -426% |
| Services and other goods | 61 | €1,498,705 | €1,525,962 | +€27,257 | +1.8% |
| Remuneration, social security and pensions | 62 | €2,160,172 | €2,266,997 | +€106,826 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266,791 | €286,848 | +€20,056 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,800 | €72,427 | +€36,627 | +102% |
| Other operating charges | 640/8 | €68,719 | €87,055 | +€18,335 | +26.7% |
| Operating profit (loss) | 9901 | €376,478 | €351,481 | -€24,997 | -6.6% |
| Financial income | 75/76B | €180,101 | €192,212 | +€12,111 | +6.7% |
| Recurring financial income | 75 | €180,101 | €192,212 | +€12,111 | +6.7% |
| Income from current assets | 751 | €3,599 | €2 | -€3,597 | -99.9% |
| Other financial income | 752/9 | €176,502 | €192,210 | +€15,709 | +8.9% |
| Financial charges | 65/66B | €143,438 | €123,387 | -€20,051 | -14.0% |
| Recurring financial charges | 65 | €143,438 | €123,387 | -€20,051 | -14.0% |
| Debt charges | 650 | €96,157 | €79,093 | -€17,065 | -17.7% |
| Other financial charges | 652/9 | €47,281 | €44,295 | -€2,986 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €413,141 | €420,306 | +€7,165 | +1.7% |
| Transfer from deferred taxes | 780 | €3,493 | €1,121 | -€2,371 | -67.9% |
| Income taxes | 67/77 | €118,357 | €115,932 | -€2,424 | -2.0% |
| Taxes | 670/3 | €118,357 | €115,932 | -€2,424 | -2.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €298,276 | €305,494 | +€7,218 | +2.4% |
| Transfer from tax-exempt reserves | 789 | €10,478 | €3,364 | -€7,114 | -67.9% |
| Profit (loss) for the period to be appropriated | 9905 | €308,754 | €308,858 | +€104 | 0.0% |
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 17 October 2026 via checked.be.