Mulco Sales: what changed
What changed
Mulco Sales
NACE 46.190, Agents in non-specialised wholesale trade
filed annual accounts (NBB)
Net result for the year
€22,711
2024 · €100,679-€77,968
Equity
€460,520
2024 · €439,142+€21,378
Cash
€154,323
2024 · €386,926-€232,603
Balance sheet total
€752,681
2024 · €726,593+€26,088
Largest movements
Assets
- Cash -€232,603
down €232,603 (-60.1%), from €386,926 to €154,323
mainly Current investments (-€200,000) and Receivables within one year (-€50,188)
- Current investments +€200,000
new in 2025: €200,000
- Receivables within one year +€50,188
up €50,188 (+59.7%), from €84,022 to €134,210
of which Trade receivables: +€31,847
- Deferred charges and accrued income +€12,197
up €12,197 (+166%), from €7,360 to €19,558
Equity and liabilities
- Trade debts +€23,151
up €23,151 (+22.3%), from €104,007 to €127,158
- Reserves +€21,378
up €21,378 (+5.1%), from €420,542 to €441,920
- Debts after one year -€9,747
down €9,747 (-6.0%), from €162,329 to €152,583
Income statement
- Gross operating margin -€142,776
down €142,776 (-74.2%), from €192,464 to €49,688
- Depreciation -€34,471
down €34,471 (-79.9%), from €43,160 to €8,689
- Taxes -€30,140
down €30,140 (-74.6%), from €40,417 to €10,278
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.
Result 2024
€100,679
Gross operating margin
-€142,776
Depreciation
+€34,471
Other operating charges
-€730
Financial income
+€515
Financial charges
+€412
Taxes
+€30,140
Result 2025
€22,711
raises the resultlowers the result
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.
From operations
-€16,129
Investment
-€204,994
Financing
-€11,480
Cash 2024
€386,926
From operations (derived)
-€16,129
Net result for the year
+€22,711
Depreciation
+€8,689
Receivables within one year
-€50,188
Deferred charges and accrued income
-€12,197
Trade debts
+€23,151
Smaller working-capital items
-€796
Other debts
-€7,498
Investment (derived)
-€204,994
Investment in fixed assets (net)
-€4,994
Current investments
-€200,000
Financing
-€11,480
Debts after one year
-€9,747
Current portion of long-term debt
-€400
Contributions, distributions and other
-€1,333
Cash 2025
€154,323
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €726,593 | €752,681 | +€26,088 | +3.6% |
| Fixed assets | 21/28 | €248,285 | €244,590 | -€3,695 | -1.5% |
| Tangible fixed assets | 22/27 | €248,285 | €244,590 | -€3,695 | -1.5% |
| Land and buildings | 22 | €235,062 | €229,971 | -€5,091 | -2.2% |
| Plant, machinery and equipment | 23 | €269 | €74 | -€195 | -72.4% |
| Furniture and vehicles | 24 | €5,956 | €8,379 | +€2,424 | +40.7% |
| Other tangible fixed assets | 26 | €6,998 | €6,165 | -€833 | -11.9% |
| Current assets | 29/58 | €478,308 | €508,091 | +€29,783 | +6.2% |
| Amounts receivable within one year | 40/41 | €84,022 | €134,210 | +€50,188 | +59.7% |
| Trade receivables | 40 | €78,448 | €110,295 | +€31,847 | +40.6% |
| Other amounts receivable | 41 | €5,574 | €23,915 | +€18,342 | +329% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €386,926 | €154,323 | -€232,603 | -60.1% |
| Deferred charges and accrued income | 490/1 | €7,360 | €19,558 | +€12,197 | +166% |
| Total equity and liabilities | 10/49 | €726,593 | €752,681 | +€26,088 | +3.6% |
| Equity | 10/15 | €439,142 | €460,520 | +€21,378 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €420,542 | €441,920 | +€21,378 | +5.1% |
| Distributable reserves | 133 | €420,542 | €441,920 | +€21,378 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €287,451 | €292,161 | +€4,710 | +1.6% |
| Amounts payable after more than one year | 17 | €162,329 | €152,583 | -€9,747 | -6.0% |
| Financial debts | 170/4 | €162,329 | €152,583 | -€9,747 | -6.0% |
| Amounts payable within one year | 42/48 | €124,571 | €139,406 | +€14,835 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €10,147 | €9,747 | -€400 | -3.9% |
| Trade debts | 44 | €104,007 | €127,158 | +€23,151 | +22.3% |
| Suppliers | 440/4 | €104,007 | €127,158 | +€23,151 | +22.3% |
| Taxes, remuneration and social security | 45 | €417 | €0 | -€417 | -100% |
| Taxes | 450/3 | €417 | €0 | -€417 | -100% |
| Other amounts payable | 47/48 | €10,000 | €2,502 | -€7,498 | -75.0% |
| Accrued charges and deferred income | 492/3 | €550 | €172 | -€379 | -68.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,160 | €8,689 | -€34,471 | -79.9% |
| Other operating charges | 640/8 | €1,229 | €1,960 | +€730 | +59.4% |
| Gross operating margin | 9900 | €192,464 | €49,688 | -€142,776 | -74.2% |
| Operating profit (loss) | 9901 | €148,074 | €39,039 | -€109,035 | -73.6% |
| Financial income | 75/76B | €97 | €613 | +€515 | +530% |
| Recurring financial income | 75 | €97 | €613 | +€515 | +530% |
| Financial charges | 65/66B | €7,076 | €6,663 | -€412 | -5.8% |
| Recurring financial charges | 65 | €7,076 | €6,663 | -€412 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €141,096 | €32,989 | -€108,107 | -76.6% |
| Income taxes | 67/77 | €40,417 | €10,278 | -€30,140 | -74.6% |
| Profit (loss) for the period | 9904 | €100,679 | €22,711 | -€77,968 | -77.4% |
| Profit (loss) for the period to be appropriated | 9905 | €100,679 | €22,711 | -€77,968 | -77.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.