MULCH: 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.
MULCH
Largest movements
- Cash +€32,275
up €32,275 (+36.6%), from €88,081 to €120,355
mainly Net result for the year (+€26,231) and Depreciation (+€3,091)
- Tangible fixed assets -€3,091
down €3,091 (-51.7%), from €5,985 to €2,893
- Profit (loss) carried forward +€26,231
up €26,231 (+52.0%), from €50,404 to €76,634
- Trade debts +€1,460
up €1,460 (+5744.5%), from €25 to €1,485
- Taxes +€1,049
up €1,049 (+11.4%), from €9,201 to €10,250
- Gross operating margin +€931
up €931 (+2.3%), from €40,136 to €41,067
- Write-downs -€726
down €726 (-100.0%), from €726 to €0
- Depreciation -€634
down €634 (-17.0%), from €3,725 to €3,091
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 | €109,072 | €136,532 | +€27,459 | +25.2% |
| Fixed assets | 21/28 | €6,185 | €3,093 | -€3,091 | -50.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €5,985 | €2,893 | -€3,091 | -51.7% |
| Furniture and vehicles | 24 | €5,985 | €2,893 | -€3,091 | -51.7% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €102,888 | €133,438 | +€30,551 | +29.7% |
| Amounts receivable within one year | 40/41 | €13,892 | €13,083 | -€809 | -5.8% |
| Trade receivables | 40 | €9,870 | €12,510 | +€2,641 | +26.8% |
| Other amounts receivable | 41 | €4,023 | €573 | -€3,450 | -85.8% |
| Cash at bank and in hand | 54/58 | €88,081 | €120,355 | +€32,275 | +36.6% |
| Deferred charges and accrued income | 490/1 | €915 | €0 | -€915 | -100.0% |
| Total equity and liabilities | 10/49 | €109,072 | €136,532 | +€27,459 | +25.2% |
| Equity | 10/15 | €74,004 | €100,234 | +€26,231 | +35.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,404 | €76,634 | +€26,231 | +52.0% |
| Amounts payable | 17/49 | €35,069 | €36,297 | +€1,228 | +3.5% |
| Amounts payable within one year | 42/48 | €35,069 | €36,297 | +€1,228 | +3.5% |
| Trade debts | 44 | €25 | €1,485 | +€1,460 | +5744.5% |
| Suppliers | 440/4 | €25 | €1,485 | +€1,460 | +5744.5% |
| Advances received on contracts in progress | 46 | €720 | €0 | -€720 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,138 | €14,319 | +€181 | +1.3% |
| Taxes | 450/3 | €9,138 | €3,319 | -€5,819 | -63.7% |
| Remuneration and social security | 454/9 | €5,000 | €11,000 | +€6,000 | +120.0% |
| Other amounts payable | 47/48 | €20,186 | €20,493 | +€308 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,725 | €3,091 | -€634 | -17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €726 | €0 | -€726 | -100.0% |
| Other operating charges | 640/8 | €752 | €1,061 | +€309 | +41.1% |
| Gross operating margin | 9900 | €40,136 | €41,067 | +€931 | +2.3% |
| Operating profit (loss) | 9901 | €34,933 | €36,914 | +€1,981 | +5.7% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €67 | €434 | +€367 | +548.5% |
| Recurring financial charges | 65 | €67 | €434 | +€367 | +548.5% |
| Profit (loss) for the period before taxes | 9903 | €34,866 | €36,481 | +€1,614 | +4.6% |
| Income taxes | 67/77 | €9,201 | €10,250 | +€1,049 | +11.4% |
| Profit (loss) for the period | 9904 | €25,665 | €26,231 | +€566 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,665 | €26,231 | +€566 | +2.2% |
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.