ACTIVE

MULLENS (SA)

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Financial year 2025 · closed on 31/12/2025

Net result

46,5 k €

-10.7% YoY

Gross margin

694,1 k €

-10.8% YoY

Equity

364,8 k €

+14.6% YoY

Workforce

6,7 ETP

-18.3% YoY

What does MULLENS do?

MULLENS is a Public limited company incorporated in 1988. Its main activity is: Site preparation. Its registered office is in Geetbets. It employs on average 6,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.463.871

Incorporation

22/12/1988

Legal form

Public limited company

Registered office

Borgloonstraat 94
3450 Geetbets · FlandreSee on map

Contributed capital

99 157,41 €

Latest accounts

31/12/2025

Average workforce

6,7 ETP

Activities (NACE)

43120Site preparation· main 43120Site preparation 45112Sale of cars and light motor vehicles 02012Forestry and logging 02200Logging 02200Logging+3

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	694,1 k €	-10.8%	778,2 k €	+6.3%	732,2 k €	+10.5%	662,8 k €	+3.6%	639,6 k €	-12.0%	726,4 k €	-10.4%	810,3 k €	+5.0%	771,9 k €	+16.2%	664,2 k €	+12.0%	593,1 k €	-1.4%	601,7 k €	+17.3%	512,8 k €	+2.2%	501,9 k €	-20.5%	631,4 k €	-8.4%	689,7 k €	+22.4%	563,6 k €	+24.0%	454,5 k €	-20.0%	568 k €	+18.5%	479,3 k €	-4.3%	500,8 k €
EBITDA	200,8 k €	-8.3%	219,1 k €	+10.6%	198 k €	+15.3%	171,8 k €	-18.2%	209,9 k €	-19.8%	261,8 k €	-7.9%	284,2 k €	-13.4%	328,3 k €	+10.0%	298,5 k €	+35.7%	220,1 k €	-2.6%	226 k €	+25.4%	180,2 k €	+6.5%	169,2 k €	-28.0%	235,1 k €	-19.3%	291,2 k €	+23.0%	236,8 k €	+1.9%	232,4 k €	-26.9%	318 k €	+35.9%	234 k €	+79.1%	130,6 k €
Operating result	86,5 k €	-11.5%	97,7 k €	+27.6%	76,6 k €	+2.9%	74,4 k €	+46.1%	50,9 k €	-38.4%	82,6 k €	+118%	37,9 k €	-46.9%	71,3 k €	-14.4%	83,2 k €	-5.2%	87,8 k €	+79.0%	49,1 k €	+86.6%	26,3 k €	+59.1%	16,5 k €	+207%	-15,5 k €	-176%	20,3 k €	+56.4%	13 k €	-52.7%	27,4 k €	-69.5%	89,9 k €	+2701%	-3,5 k €	+93.5%	-52,9 k €
Net result	46,5 k €	-10.7%	52,1 k €	+14.1%	45,7 k €	+3.6%	44,1 k €	+30.1%	33,9 k €	+26.4%	26,8 k €	+102%	13,2 k €	-70.2%	44,4 k €	-34.4%	67,8 k €	+3.0%	65,8 k €	+88.3%	35 k €	+392%	7,1 k €	+157%	-12,5 k €	+59.4%	-30,8 k €	-653%	5,6 k €	+276%	-3,2 k €	+72.9%	-11,7 k €	-181%	14,4 k €	+528%	2,3 k €	+104%	-59,5 k €
Balance sheet
Equity	364,8 k €	+14.6%	318,3 k €	+19.6%	266,2 k €	+20.7%	220,6 k €	+25.0%	176,5 k €	-41.2%	300,3 k €	+9.8%	273,5 k €	-38.2%	442,3 k €	+11.2%	397,8 k €	+20.5%	330 k €	+24.9%	264,2 k €	+15.3%	229,2 k €	+3.2%	222,1 k €	-5.3%	234,6 k €	-11.6%	265,4 k €	+2.1%	259,9 k €	-1.2%	263 k €	-4.3%	274,7 k €	+5.5%	260,3 k €	+0.9%	258 k €
Total assets	1,1 M €	-0.4%	1,1 M €	-4.0%	1,1 M €	+25.1%	916,5 k €	-4.7%	961,6 k €	-12.5%	1,1 M €	-22.5%	1,4 M €	-6.3%	1,5 M €	+12.3%	1,3 M €	+35.9%	991,4 k €	+52.1%	652 k €	-21.9%	834,9 k €	-12.2%	951 k €	-14.2%	1,1 M €	-16.2%	1,3 M €	+9.3%	1,2 M €	+8.2%	1,1 M €	-16.6%	1,3 M €	+27.0%	1,1 M €	-13.1%	1,2 M €
Cash	2,3 k €	-93.6%	35,2 k €	+137%	14,8 k €	-63.2%	40,2 k €	-21.7%	51,4 k €	-25.0%	68,5 k €	-69.0%	221 k €	+0.7%	219,5 k €	+33.7%	164,1 k €	+26.1%	130,1 k €	+110%	61,9 k €	+446%	11,4 k €		–		–		16,8 k €	-44.7%	30,3 k €	-60.8%	77,4 k €	-38.9%	126,5 k €	-29.2%	178,8 k €	+27.1%	140,7 k €
Debts	704,4 k €	-3.9%	732,9 k €	-15.4%	866,8 k €	+38.9%	623,9 k €	-20.5%	785,1 k €	-1.8%	799,2 k €	-30.2%	1,1 M €	+7.1%	1,1 M €	+13.2%	944,8 k €	+44.5%	654 k €	+68.6%	387,8 k €	-36.0%	605,7 k €	-16.5%	725 k €	-16.3%	866 k €	-16.3%	1 M €	+13.5%	911,1 k €	+14.3%	797,1 k €	-21.0%	1 M €	+30.1%	775,8 k €	-15.5%	917,7 k €
Other
Workforce	6,7 ETP	-18.3%	8,2 ETP	-4.7%	8,6 ETP	-8.5%	9,4 ETP	+17.5%	8,0 ETP	-3.6%	8,3 ETP	-10.8%	9,3 ETP	+69.1%	5,5 ETP	0.0%	5,5 ETP	-15.4%	6,5 ETP	0.0%	6,5 ETP	+1.6%	6,4 ETP	-1.5%	6,5 ETP	-16.7%	7,8 ETP	+5.4%	7,4 ETP	+4.2%	7,1 ETP	+31.5%	5,4 ETP	+1.9%	5,3 ETP	-8.6%	5,8 ETP	-3.3%	6,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

DIDIJO

Director · since 12 octobre 2018 · 0708.971.020

Represented by Dina Costermans

Active

Dirk Mullens

Director

Active

Ended mandates

Dirk Mullens

Managing director · since 04 juin 2021 · until 04 juin 2027

Ended

DIDIJO

Director · since 12 octobre 2018 · until 12 octobre 2024 · 0708.971.020

Represented by Dirk Mullens

Ended

DIDIJO

Director · since 12 octobre 2018 · 0708.971.020

Represented by Dirk Mullens

Ended

Andre Mullens

Managing director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	10/06/2026	16/06/2025	19/06/2024	29/09/2023	16/06/2022	01/07/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	03/06/2022	04/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	05/06/2026	10/06/2026	Dutch	PDF
Abridged model	31/12/2024	06/06/2025	16/06/2025	Dutch	PDF
Abridged model	31/12/2023	07/06/2024	19/06/2024	Dutch	PDF
Abridged model	31/12/2022	02/06/2023	29/09/2023	Dutch	PDF
Abridged model	31/12/2021	03/06/2022	16/06/2022	Dutch	PDF
Abridged model	31/12/2020	04/06/2021	01/07/2021	Dutch	PDF
Abridged model	31/12/2019	05/06/2020	24/08/2020	Dutch	PDF
Abridged model	31/12/2018	07/06/2019	27/09/2019	Dutch	PDF
Abridged model	31/12/2017	01/06/2018	15/06/2018	Dutch	PDF
Abridged model	31/12/2016	02/06/2017	11/07/2017	Dutch	PDF
Abridged model	31/12/2015	03/06/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	16/09/2015	Dutch	PDF
Abridged model	31/12/2013	06/06/2014	22/09/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	18/06/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	05/06/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	17/06/2011	Dutch	PDF
Abridged model	31/12/2009	04/06/2010	18/06/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	08/06/2009	Dutch	PDF
Abridged model	31/12/2007	06/06/2008	12/06/2008	Dutch	PDF
Abridged model	31/12/2006	05/06/2007	05/09/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

DIDIJO

Director · since 12 octobre 2018 · 0708.971.020

Represented by Dina Costermans

Active

Dirk Mullens

Director

Active

Ended mandates

Dirk Mullens

Managing director · since 04 juin 2021 · until 04 juin 2027

Ended

DIDIJO

Director · since 12 octobre 2018 · until 12 octobre 2024 · 0708.971.020

Represented by Dirk Mullens

Ended

DIDIJO

Director · since 12 octobre 2018 · 0708.971.020

Represented by Dirk Mullens

Ended

Andre Mullens

Managing director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates13/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/01/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/06/2015
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares10/01/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates17/09/2010
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/02/2005
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202546,5 k €↓
2024
Annual accounts 202452,1 k €↑
2023
Annual accounts 202345,7 k €↑
2022
Annual accounts 202244,1 k €↑
2021
Annual accounts 202133,9 k €↑
2020
Annual accounts 202026,8 k €↑
2019
Annual accounts 201913,2 k €↓
2018
Annual accounts 201844,4 k €↓
2017
Annual accounts 201767,8 k €↑
2016
Annual accounts 201665,8 k €↑
2015
Annual accounts 201535 k €↑
2014
Annual accounts 20147,1 k €↑
2013
Annual accounts 2013-12,5 k €↑
2012
Annual accounts 2012-30,8 k €↓
2011
Annual accounts 20115,6 k €↑
2010
Annual accounts 2010-3,2 k €↑
2009
Annual accounts 2009-11,7 k €↓
2008
Annual accounts 200814,4 k €↑
2007
Annual accounts 20072,3 k €↑
2006
Annual accounts 2006-59,5 k €
22/12/1988
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MULLENS (SA)

Overview

What does MULLENS do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline