VAN MULDERS: 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.
VAN MULDERS
Largest movements
- Current investments -€600,000
down €600,000 (-91.8%), from €653,658 to €53,658
- Cash +€441,714
up €441,714 (+788%), from €56,079 to €497,792
mainly Current investments (+€600,000) and Depreciation (+€110,742)
- Tangible fixed assets -€42,981
down €42,981 (-10.6%), from €403,661 to €360,680
of which Leasing and similar rights: -€55,996
- Reserves -€145,000
down €145,000 (-13.7%), from €1.1m to €915,683
of which Distributable reserves: -€145,000
- Debts after one year -€43,475
down €43,475 (-33.2%), from €130,941 to €87,466
- Depreciation +€28,422
up €28,422 (+34.5%), from €82,319 to €110,742
- Gross operating margin +€14,887
up €14,887 (+4.9%), from €303,537 to €318,423
- Taxes +€5,183
up €5,183 (+16.5%), from €31,483 to €36,667
- Financial income +€3,884
up €3,884 (+75.6%), from €5,138 to €9,022
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 | €1,255,828 | €1,060,821 | -€195,007 | -15.5% |
| Fixed assets | 21/28 | €403,796 | €360,815 | -€42,981 | -10.6% |
| Tangible fixed assets | 22/27 | €403,661 | €360,680 | -€42,981 | -10.6% |
| Land and buildings | 22 | €127,908 | €109,492 | -€18,416 | -14.4% |
| Plant, machinery and equipment | 23 | €37,838 | €24,323 | -€13,515 | -35.7% |
| Furniture and vehicles | 24 | €58,261 | €103,207 | +€44,946 | +77.1% |
| Leasing and similar rights | 25 | €179,654 | €123,658 | -€55,996 | -31.2% |
| Financial fixed assets | 28 | €136 | €136 | = | 0.0% |
| Current assets | 29/58 | €852,032 | €700,006 | -€152,026 | -17.8% |
| Amounts receivable within one year | 40/41 | €134,849 | €142,386 | +€7,537 | +5.6% |
| Trade receivables | 40 | €120,016 | €129,784 | +€9,768 | +8.1% |
| Other amounts receivable | 41 | €14,833 | €12,602 | -€2,231 | -15.0% |
| Current investments | 50/53 | €653,658 | €53,658 | -€600,000 | -91.8% |
| Cash at bank and in hand | 54/58 | €56,079 | €497,792 | +€441,714 | +788% |
| Deferred charges and accrued income | 490/1 | €7,446 | €6,170 | -€1,277 | -17.1% |
| Total equity and liabilities | 10/49 | €1,255,828 | €1,060,821 | -€195,007 | -15.5% |
| Equity | 10/15 | €1,032,369 | €887,769 | -€144,600 | -14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,060,683 | €915,683 | -€145,000 | -13.7% |
| Tax-exempt reserves | 132 | €118,080 | €118,080 | = | 0.0% |
| Distributable reserves | 133 | €942,603 | €797,603 | -€145,000 | -15.4% |
| Profit (loss) carried forward | 14 | -€46,914 | -€46,514 | +€400 | +0.9% |
| Amounts payable | 17/49 | €223,460 | €173,052 | -€50,407 | -22.6% |
| Amounts payable after more than one year | 17 | €130,941 | €87,466 | -€43,475 | -33.2% |
| Financial debts | 170/4 | €130,941 | €87,466 | -€43,475 | -33.2% |
| Amounts payable within one year | 42/48 | €90,019 | €83,087 | -€6,932 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €52,693 | €43,475 | -€9,218 | -17.5% |
| Trade debts | 44 | €12,938 | €6,678 | -€6,260 | -48.4% |
| Suppliers | 440/4 | €12,938 | €6,678 | -€6,260 | -48.4% |
| Taxes, remuneration and social security | 45 | €17,334 | €21,821 | +€4,486 | +25.9% |
| Taxes | 450/3 | €12,040 | €16,402 | +€4,362 | +36.2% |
| Remuneration and social security | 454/9 | €5,295 | €5,419 | +€124 | +2.3% |
| Other amounts payable | 47/48 | €7,053 | €11,113 | +€4,060 | +57.6% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Non-recurring operating income | 76A | €23,240 | €12,397 | -€10,843 | -46.7% |
| Remuneration, social security and pensions | 62 | €54,077 | €57,053 | +€2,977 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,319 | €110,742 | +€28,422 | +34.5% |
| Other operating charges | 640/8 | €31,081 | €30,291 | -€789 | -2.5% |
| Gross operating margin | 9900 | €303,537 | €318,423 | +€14,887 | +4.9% |
| Operating profit (loss) | 9901 | €136,060 | €120,337 | -€15,723 | -11.6% |
| Financial income | 75/76B | €5,138 | €9,022 | +€3,884 | +75.6% |
| Recurring financial income | 75 | €5,138 | €9,022 | +€3,884 | +75.6% |
| Financial charges | 65/66B | €5,154 | €8,292 | +€3,138 | +60.9% |
| Recurring financial charges | 65 | €5,154 | €8,292 | +€3,138 | +60.9% |
| Profit (loss) for the period before taxes | 9903 | €136,044 | €121,067 | -€14,977 | -11.0% |
| Income taxes | 67/77 | €31,483 | €36,667 | +€5,183 | +16.5% |
| Profit (loss) for the period | 9904 | €104,560 | €84,400 | -€20,160 | -19.3% |
| Transfer to tax-exempt reserves | 689 | €22,000 | - | -€22,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,560 | €84,400 | +€1,840 | +2.2% |
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 23 October 2026 via checked.be.