& Mulder: 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.
& Mulder
Largest movements
- Receivables within one year +€27,162
up €27,162 (+22.0%), from €123,626 to €150,788
of which Other amounts receivable: +€51,897
- Tax, wage and social debts +€21,847
up €21,847 (+117.5%), from €18,589 to €40,436
- Other debts +€8,756
up €8,756 (+123.0%), from €7,120 to €15,876
- Gross operating margin +€21,296
up €21,296 (+62.2%), from €34,247 to €55,543
- Taxes +€6,570
up €6,570 (+62.2%), from €10,561 to €17,131
- Financial charges +€3,694
up €3,694 (+129.5%), from €2,853 to €6,547
- Other operating charges +€1,618
up €1,618 (+305.6%), from €529 to €2,147
From the 2022 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €335,980 | €364,839 | +€28,858 | +8.6% |
| Fixed assets | 21/28 | €4,500 | €4,500 | = | 0.0% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €331,480 | €360,339 | +€28,858 | +8.7% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €1,732 | +€1,732 | |
| Contracts in progress | 37 | - | €1,732 | +€1,732 | |
| Amounts receivable within one year | 40/41 | €123,626 | €150,788 | +€27,162 | +22.0% |
| Trade receivables | 40 | €45,579 | €20,844 | -€24,735 | -54.3% |
| Other amounts receivable | 41 | €78,047 | €129,944 | +€51,897 | +66.5% |
| Deferred charges and accrued income | 490/1 | €7,854 | €7,819 | -€35 | -0.4% |
| Total equity and liabilities | 10/49 | €335,980 | €364,839 | +€28,858 | +8.6% |
| Equity | 10/15 | €287,332 | €285,188 | -€2,145 | -0.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €245,423 | €243,278 | -€2,145 | -0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | - | -€10,000 | |
| Distributable reserves | 133 | €233,563 | €241,418 | +€7,855 | +3.4% |
| Profit (loss) carried forward | 14 | €35,710 | €35,710 | = | 0.0% |
| Amounts payable | 17/49 | €48,648 | €79,651 | +€31,003 | +63.7% |
| Amounts payable within one year | 42/48 | €48,648 | €79,651 | +€31,003 | +63.7% |
| Financial debts | 43 | €15,590 | €16,004 | +€414 | +2.7% |
| Credit institutions | 430/8 | €15,590 | €16,004 | +€414 | +2.7% |
| Trade debts | 44 | €7,349 | €7,335 | -€15 | -0.2% |
| Suppliers | 440/4 | €7,349 | €7,335 | -€15 | -0.2% |
| Taxes, remuneration and social security | 45 | €18,589 | €40,436 | +€21,847 | +117.5% |
| Taxes | 450/3 | €18,589 | €40,436 | +€21,847 | +117.5% |
| Other amounts payable | 47/48 | €7,120 | €15,876 | +€8,756 | +123.0% |
| Other operating charges | 640/8 | €529 | €2,147 | +€1,618 | +305.6% |
| Gross operating margin | 9900 | €34,247 | €55,543 | +€21,296 | +62.2% |
| Operating profit (loss) | 9901 | €33,718 | €53,395 | +€19,678 | +58.4% |
| Financial income | 75/76B | €7,000 | €7,000 | = | 0.0% |
| Recurring financial income | 75 | €7,000 | €7,000 | = | 0.0% |
| Financial charges | 65/66B | €2,853 | €6,547 | +€3,694 | +129.5% |
| Recurring financial charges | 65 | €2,853 | €6,547 | +€3,694 | +129.5% |
| Profit (loss) for the period before taxes | 9903 | €37,864 | €53,848 | +€15,984 | +42.2% |
| Income taxes | 67/77 | €10,561 | €17,131 | +€6,570 | +62.2% |
| Profit (loss) for the period | 9904 | €27,304 | €36,717 | +€9,413 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,304 | €36,717 | +€9,413 | +34.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.