MULLENS CONSULT: 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.
MULLENS CONSULT
Largest movements
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Cash +€104,325
up €104,325 (+30.2%), from €345,555 to €449,880
mainly Current investments (+€250,000) and Receivables within one year (+€34,708)
- Receivables within one year -€34,708
down €34,708 (-69.5%), from €49,912 to €15,204
of which Other amounts receivable: -€39,547
- Other debts -€160,385
down €160,385 (-61.5%), from €260,604 to €100,219
- Reserves -€31,951
down €31,951 (-5.5%), from €581,211 to €549,260
- Financial income +€3,772
up €3,772 (+99.9%), from €3,776 to €7,549
- Gross operating margin +€3,293
up €3,293 (+19.2%), from -€17,109 to -€13,816
- Depreciation +€1,080
up €1,080 (+5.1%), from €21,281 to €22,360
- Financial charges +€403
up €403 (+189%), from €213 to €616
of which Non-recurring financial charges: +€315
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.
Derived cash bridge
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 | €1,063,584 | €874,725 | -€188,860 | -17.8% |
| Fixed assets | 21/28 | €416,087 | €407,180 | -€8,907 | -2.1% |
| Tangible fixed assets | 22/27 | €415,050 | €406,144 | -€8,907 | -2.1% |
| Land and buildings | 22 | €415,050 | €406,144 | -€8,907 | -2.1% |
| Financial fixed assets | 28 | €1,036 | €1,036 | = | 0.0% |
| Current assets | 29/58 | €647,498 | €467,545 | -€179,953 | -27.8% |
| Amounts receivable within one year | 40/41 | €49,912 | €15,204 | -€34,708 | -69.5% |
| Trade receivables | 40 | - | €4,839 | +€4,839 | |
| Other amounts receivable | 41 | €49,912 | €10,365 | -€39,547 | -79.2% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €345,555 | €449,880 | +€104,325 | +30.2% |
| Deferred charges and accrued income | 490/1 | €2,030 | €2,460 | +€431 | +21.2% |
| Total equity and liabilities | 10/49 | €1,063,584 | €874,725 | -€188,860 | -17.8% |
| Equity | 10/15 | €801,211 | €769,260 | -€31,951 | -4.0% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €581,211 | €549,260 | -€31,951 | -5.5% |
| Distributable reserves | 133 | €581,211 | €549,260 | -€31,951 | -5.5% |
| Amounts payable | 17/49 | €262,373 | €105,465 | -€156,909 | -59.8% |
| Amounts payable within one year | 42/48 | €262,148 | €105,376 | -€156,772 | -59.8% |
| Trade debts | 44 | €1,544 | €5,156 | +€3,612 | +234% |
| Suppliers | 440/4 | €1,544 | €5,156 | +€3,612 | +234% |
| Other amounts payable | 47/48 | €260,604 | €100,219 | -€160,385 | -61.5% |
| Accrued charges and deferred income | 492/3 | €225 | €89 | -€136 | -60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,281 | €22,360 | +€1,080 | +5.1% |
| Other operating charges | 640/8 | €2,707 | €2,707 | -€0 | 0.0% |
| Gross operating margin | 9900 | -€17,109 | -€13,816 | +€3,293 | +19.2% |
| Operating profit (loss) | 9901 | -€41,097 | -€38,883 | +€2,214 | +5.4% |
| Financial income | 75/76B | €3,776 | €7,549 | +€3,772 | +99.9% |
| Recurring financial income | 75 | €3,776 | €7,549 | +€3,772 | +99.9% |
| Financial charges | 65/66B | €213 | €616 | +€403 | +189% |
| Recurring financial charges | 65 | €213 | €301 | +€88 | +41.2% |
| Non-recurring financial charges | 66B | - | €315 | +€315 | |
| Profit (loss) for the period before taxes | 9903 | -€37,534 | -€31,951 | +€5,583 | +14.9% |
| Profit (loss) for the period | 9904 | -€37,534 | -€31,951 | +€5,583 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,534 | -€31,951 | +€5,583 | +14.9% |
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 26 October 2026 via checked.be.