MULLENS - HALEN: 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 - HALEN
Largest movements
- Stocks and contracts -€334,088
down €334,088 (-13.5%), from €2.5m to €2.1m
- Cash +€116,496
up €116,496 (+11.6%), from €1.0m to €1.1m
mainly Other debts (+€630,000) and Stocks and contracts (+€334,088)
- Contributions -€630,000
down €630,000 (-61.7%), from €1.0m to €391,157
- Other debts +€630,000
up €630,000, from €0 to €630,000
- Trade debts -€444,819
down €444,819 (-33.6%), from €1.3m to €879,874
- Reserves +€213,977
up €213,977 (+14.6%), from €1.5m to €1.7m
of which Distributable reserves: +€298,977
- Debts after one year -€93,002
down €93,002 (-15.3%), from €609,062 to €516,060
- Gross operating margin -€403,386
down €403,386 (-23.9%), from €1.7m to €1.3m
- Taxes -€108,357
down €108,357 (-58.7%), from €184,729 to €76,372
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 | €4,885,447 | €4,639,511 | -€245,936 | -5.0% |
| Fixed assets | 21/28 | €1,381,810 | €1,342,058 | -€39,753 | -2.9% |
| Tangible fixed assets | 22/27 | €1,381,810 | €1,342,058 | -€39,753 | -2.9% |
| Land and buildings | 22 | €1,151,631 | €1,099,041 | -€52,590 | -4.6% |
| Plant, machinery and equipment | 23 | €217,506 | €204,656 | -€12,850 | -5.9% |
| Furniture and vehicles | 24 | €12,673 | €38,360 | +€25,687 | +203% |
| Current assets | 29/58 | €3,503,637 | €3,297,453 | -€206,183 | -5.9% |
| Stocks and contracts in progress | 3 | €2,469,978 | €2,135,889 | -€334,088 | -13.5% |
| Stocks | 30/36 | €2,469,978 | €2,135,889 | -€334,088 | -13.5% |
| Amounts receivable within one year | 40/41 | €26,271 | €37,680 | +€11,409 | +43.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €26,271 | €37,680 | +€11,409 | +43.4% |
| Cash at bank and in hand | 54/58 | €1,007,388 | €1,123,884 | +€116,496 | +11.6% |
| Total equity and liabilities | 10/49 | €4,885,447 | €4,639,511 | -€245,936 | -5.0% |
| Equity | 10/15 | €2,482,164 | €2,066,141 | -€416,023 | -16.8% |
| Contributions | 10/11 | €1,021,157 | €391,157 | -€630,000 | -61.7% |
| Reserves | 13 | €1,461,007 | €1,674,984 | +€213,977 | +14.6% |
| Non-distributable reserves | 130/1 | €85,000 | €0 | -€85,000 | -100% |
| Reserves not available under the articles | 1311 | €85,000 | €0 | -€85,000 | -100% |
| Distributable reserves | 133 | €1,376,007 | €1,674,984 | +€298,977 | +21.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,403,283 | €2,573,369 | +€170,087 | +7.1% |
| Amounts payable after more than one year | 17 | €609,062 | €516,060 | -€93,002 | -15.3% |
| Financial debts | 170/4 | €609,062 | €516,060 | -€93,002 | -15.3% |
| Amounts payable within one year | 42/48 | €1,794,221 | €2,057,310 | +€263,089 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €91,430 | €93,002 | +€1,572 | +1.7% |
| Trade debts | 44 | €1,324,693 | €879,874 | -€444,819 | -33.6% |
| Suppliers | 440/4 | €1,324,693 | €879,874 | -€444,819 | -33.6% |
| Taxes, remuneration and social security | 45 | €378,099 | €454,434 | +€76,335 | +20.2% |
| Taxes | 450/3 | €324,607 | €407,736 | +€83,129 | +25.6% |
| Remuneration and social security | 454/9 | €53,492 | €46,698 | -€6,794 | -12.7% |
| Other amounts payable | 47/48 | €0 | €630,000 | +€630,000 | |
| Remuneration, social security and pensions | 62 | €839,967 | €829,172 | -€10,795 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,655 | €101,480 | +€2,825 | +2.9% |
| Other operating charges | 640/8 | €29,317 | €33,706 | +€4,388 | +15.0% |
| Gross operating margin | 9900 | €1,687,091 | €1,283,705 | -€403,386 | -23.9% |
| Operating profit (loss) | 9901 | €719,153 | €319,348 | -€399,805 | -55.6% |
| Financial income | 75/76B | €194 | €4,690 | +€4,496 | +2,319% |
| Recurring financial income | 75 | €194 | €4,690 | +€4,496 | +2,319% |
| Financial charges | 65/66B | €35,995 | €33,689 | -€2,306 | -6.4% |
| Recurring financial charges | 65 | €35,995 | €33,689 | -€2,306 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €683,351 | €290,349 | -€393,002 | -57.5% |
| Income taxes | 67/77 | €184,729 | €76,372 | -€108,357 | -58.7% |
| Profit (loss) for the period | 9904 | €498,623 | €213,977 | -€284,645 | -57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €498,623 | €213,977 | -€284,645 | -57.1% |
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 18 October 2026 via checked.be.