Mulcos: what changed
Two fiscal 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.
Mulcos
Largest movements
- Tangible fixed assets -€14,995
down €14,995 (-4.6%), from €325,436 to €310,441
of which Land and buildings: -€14,102
- Cash +€6,319
up €6,319 (+68.1%), from €9,277 to €15,596
mainly Depreciation (+€20,379) and Net result for the year (+€19,921)
- Debts after one year -€20,684
down €20,684 (-6.8%), from €302,641 to €281,957
- Profit (loss) carried forward +€19,921
up €19,921 (+25.9%), from €76,880 to €96,801
- Other debts -€6,736
down €6,736 (-13.8%), from €48,806 to €42,071
- Other operating charges -€12,816
down €12,816 (-51.8%), from €24,751 to €11,935
- Taxes -€7,894
down €7,894 (-79.2%), from €9,964 to €2,069
- Gross operating margin +€6,075
up €6,075 (+11.5%), from €52,879 to €58,954
- Financial income +€4,563
new in 2025: €4,563
of which Financial income: +€2,363
- Turnover +€4,420
up €4,420 (+5.5%), from €80,707 to €85,126
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 | €464,137 | €456,328 | -€7,809 | -1.7% |
| Fixed assets | 21/28 | €448,481 | €433,486 | -€14,995 | -3.3% |
| Intangible fixed assets | 21 | €122,845 | €122,845 | = | 0.0% |
| Tangible fixed assets | 22/27 | €325,436 | €310,441 | -€14,995 | -4.6% |
| Land and buildings | 22 | €291,083 | €276,981 | -€14,102 | -4.8% |
| Furniture and vehicles | 24 | €12,741 | €10,005 | -€2,736 | -21.5% |
| Other tangible fixed assets | 26 | €21,612 | €23,455 | +€1,843 | +8.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €15,655 | €22,842 | +€7,187 | +45.9% |
| Cash at bank and in hand | 54/58 | €9,277 | €15,596 | +€6,319 | +68.1% |
| Deferred charges and accrued income | 490/1 | €6,379 | €7,246 | +€868 | +13.6% |
| Total equity and liabilities | 10/49 | €464,137 | €456,328 | -€7,809 | -1.7% |
| Equity | 10/15 | €106,058 | €125,979 | +€19,921 | +18.8% |
| Contributions | 10/11 | €27,268 | €27,268 | = | 0.0% |
| Reserves | 13 | €1,910 | €1,910 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €1,910 | +€1,910 | |
| Reserves not available under the articles | 1311 | - | €1,910 | +€1,910 | |
| Distributable reserves | 133 | €1,910 | - | -€1,910 | |
| Profit (loss) carried forward | 14 | €76,880 | €96,801 | +€19,921 | +25.9% |
| Provisions and deferred taxes | 16 | €1,500 | €1,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,500 | €1,500 | = | 0.0% |
| Pensions and similar obligations | 160 | - | €1,500 | +€1,500 | |
| Other liabilities and charges | 164/5 | €1,500 | - | -€1,500 | |
| Amounts payable | 17/49 | €356,579 | €328,849 | -€27,730 | -7.8% |
| Amounts payable after more than one year | 17 | €302,641 | €281,957 | -€20,684 | -6.8% |
| Financial debts | 170/4 | €302,641 | €281,957 | -€20,684 | -6.8% |
| Amounts payable within one year | 42/48 | €53,938 | €46,892 | -€7,046 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €2,059 | €2,059 | = | 0.0% |
| Trade debts | 44 | €2,432 | €2,762 | +€330 | +13.6% |
| Suppliers | 440/4 | €2,432 | €2,762 | +€330 | +13.6% |
| Advances received on contracts in progress | 46 | €640 | - | -€640 | |
| Other amounts payable | 47/48 | €48,806 | €42,071 | -€6,736 | -13.8% |
| Turnover | 70 | €80,707 | €85,126 | +€4,420 | +5.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €27,827 | €26,172 | -€1,655 | -5.9% |
| Remuneration, social security and pensions | 62 | - | €31 | +€31 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,685 | €20,379 | +€1,694 | +9.1% |
| Other operating charges | 640/8 | €24,751 | €11,935 | -€12,816 | -51.8% |
| Gross operating margin | 9900 | €52,879 | €58,954 | +€6,075 | +11.5% |
| Operating profit (loss) | 9901 | €9,443 | €26,610 | +€17,166 | +181.8% |
| Financial income | 75/76B | - | €4,563 | +€4,563 | |
| Recurring financial income | 75 | - | €2,363 | +€2,363 | |
| Non-recurring financial income | 76B | - | €2,200 | +€2,200 | |
| Financial charges | 65/66B | €6,138 | €9,182 | +€3,044 | +49.6% |
| Recurring financial charges | 65 | €6,138 | €9,182 | +€3,044 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | €3,305 | €21,991 | +€18,685 | +565.3% |
| Income taxes | 67/77 | €9,964 | €2,069 | -€7,894 | -79.2% |
| Profit (loss) for the period | 9904 | -€6,658 | €19,921 | +€26,579 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,658 | €19,921 | +€26,579 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.