Mouleman: 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.
Mouleman
Largest movements
- Tangible fixed assets +€286,007
up €286,007 (+950.8%), from €30,079 to €316,086
of which Land and buildings: +€288,151
- Cash -€40,870
down €40,870 (-47.0%), from €87,026 to €46,156
mainly Investment in fixed assets (net) (-€293,556) and Other debts (-€24,323)
- Receivables within one year +€15,837
up €15,837 (+21.1%), from €75,138 to €90,975
of which Trade receivables: +€14,029
- Debts after one year +€219,722
new in 2025: €219,722
- Reserves +€35,000
up €35,000 (+40.6%), from €86,185 to €121,185
- Trade debts +€27,788
up €27,788 (+53.1%), from €52,331 to €80,120
- Other debts -€24,323
down €24,323 (-79.0%), from €30,770 to €6,446
- Tax, wage and social debts -€11,072
down €11,072 (-33.6%), from €32,990 to €21,919
- Financial charges +€5,994
up €5,994 (+4440.2%), from €135 to €6,129
- Gross operating margin -€5,023
down €5,023 (-7.4%), from €67,968 to €62,945
- Depreciation +€4,947
up €4,947 (+173.9%), from €2,844 to €7,791
- Taxes -€4,627
down €4,627 (-26.0%), from €17,818 to €13,191
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 | €206,279 | €462,712 | +€256,433 | +124.3% |
| Formation expenses | 20 | €568 | €327 | -€242 | -42.5% |
| Fixed assets | 21/28 | €30,079 | €316,086 | +€286,007 | +950.8% |
| Tangible fixed assets | 22/27 | €30,079 | €316,086 | +€286,007 | +950.8% |
| Land and buildings | 22 | €25,044 | €313,195 | +€288,151 | +1150.6% |
| Furniture and vehicles | 24 | €5,035 | €2,891 | -€2,144 | -42.6% |
| Current assets | 29/58 | €175,632 | €146,300 | -€29,332 | -16.7% |
| Amounts receivable after more than one year | 29 | €2,900 | - | -€2,900 | |
| Other amounts receivable | 291 | €2,900 | - | -€2,900 | |
| Stocks and contracts in progress | 3 | €10,567 | €9,169 | -€1,398 | -13.2% |
| Stocks | 30/36 | €10,567 | €9,169 | -€1,398 | -13.2% |
| Amounts receivable within one year | 40/41 | €75,138 | €90,975 | +€15,837 | +21.1% |
| Trade receivables | 40 | €75,138 | €89,166 | +€14,029 | +18.7% |
| Other amounts receivable | 41 | - | €1,809 | +€1,809 | |
| Cash at bank and in hand | 54/58 | €87,026 | €46,156 | -€40,870 | -47.0% |
| Total equity and liabilities | 10/49 | €206,279 | €462,712 | +€256,433 | +124.3% |
| Equity | 10/15 | €90,187 | €125,201 | +€35,013 | +38.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €86,185 | €121,185 | +€35,000 | +40.6% |
| Distributable reserves | 133 | €86,185 | €121,185 | +€35,000 | +40.6% |
| Profit (loss) carried forward | 14 | €2 | €16 | +€13 | +577.8% |
| Amounts payable | 17/49 | €116,092 | €337,512 | +€221,420 | +190.7% |
| Amounts payable after more than one year | 17 | - | €219,722 | +€219,722 | |
| Financial debts | 170/4 | - | €219,722 | +€219,722 | |
| Amounts payable within one year | 42/48 | €116,092 | €117,790 | +€1,698 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,305 | +€9,305 | |
| Trade debts | 44 | €52,331 | €80,120 | +€27,788 | +53.1% |
| Suppliers | 440/4 | €52,331 | €80,120 | +€27,788 | +53.1% |
| Taxes, remuneration and social security | 45 | €32,990 | €21,919 | -€11,072 | -33.6% |
| Taxes | 450/3 | €32,990 | €21,919 | -€11,072 | -33.6% |
| Other amounts payable | 47/48 | €30,770 | €6,446 | -€24,323 | -79.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,844 | €7,791 | +€4,947 | +173.9% |
| Other operating charges | 640/8 | €420 | €820 | +€400 | +95.2% |
| Non-recurring operating charges | 66A | €0 | - | -€0 | |
| Gross operating margin | 9900 | €67,968 | €62,945 | -€5,023 | -7.4% |
| Operating profit (loss) | 9901 | €64,703 | €54,334 | -€10,370 | -16.0% |
| Financial income | 75/76B | €521 | - | -€521 | |
| Recurring financial income | 75 | €521 | - | -€521 | |
| Non-recurring financial income | 76B | €521 | - | -€521 | |
| Financial charges | 65/66B | €135 | €6,129 | +€5,994 | +4440.2% |
| Recurring financial charges | 65 | €135 | €6,129 | +€5,994 | +4440.2% |
| Profit (loss) for the period before taxes | 9903 | €65,089 | €48,205 | -€16,885 | -25.9% |
| Income taxes | 67/77 | €17,818 | €13,191 | -€4,627 | -26.0% |
| Profit (loss) for the period | 9904 | €47,271 | €35,013 | -€12,258 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,271 | €35,013 | -€12,258 | -25.9% |
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 11 October 2026 via checked.be.