ACTIVE

Mulders

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Financial year 2025 · closed on 31/12/2025

Net result

275 k €

+35.8% YoY

Gross margin

873 k €

+23.7% YoY

Equity

1,1 M €

+29.3% YoY

Workforce

7,0 ETP

+12.9% YoY

What does Mulders do?

Mulders is a Public limited company incorporated in 1991. Its registered office is in Scherpenheuvel-Zichem. It employs on average 7,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0442.956.537

Incorporation

11/02/1991

Legal form

Public limited company

Registered office

Westelsebaan 97
3271 Scherpenheuvel-Zichem · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

7,0 ETP

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	873 k €	+23.7%	705,9 k €	+27.1%	555,2 k €	+26.1%	440,4 k €	+42.9%	308,2 k €	-32.4%	455,8 k €	+9.0%	418,1 k €	+3.0%	406,1 k €	+1.0%	402,1 k €	-8.6%	440,1 k €	-2.2%	450 k €	+19.4%	377 k €	+15.4%	326,7 k €	-1.0%	330,1 k €	-15.7%	391,5 k €	+14.0%	343,4 k €	+1.0%	339,9 k €	+13.5%	299,5 k €	-5.2%	316 k €	+5.3%	300 k €
EBITDA	523,2 k €	+29.4%	404,4 k €	+37.6%	294 k €	+32.3%	222,2 k €	+124%	99,1 k €	-42.0%	170,9 k €	+154%	67,3 k €	-35.9%	104,9 k €	+43.9%	72,9 k €	-35.9%	113,8 k €	-17.8%	138,3 k €	+12.2%	123,3 k €	+70.3%	72,4 k €	-21.5%	92,2 k €	-41.9%	158,7 k €	+30.5%	121,6 k €	-9.2%	133,8 k €	+5.3%	127,1 k €	-2.2%	129,9 k €	-7.3%	140,2 k €
Operating result	405,6 k €	+34.6%	301,3 k €	+80.8%	166,6 k €	+10.3%	151 k €	+218%	47,4 k €	-47.9%	91,1 k €	+636%	12,4 k €	+24.3%	10 k €	-23.1%	13 k €	-26.2%	17,5 k €	-19.4%	21,8 k €	+198%	7,3 k €	-55.2%	16,3 k €	-63.9%	45,1 k €	-17.8%	54,9 k €	-7.0%	59 k €	-6.6%	63,2 k €	+44.8%	43,7 k €	-19.7%	54,4 k €	+1.0%	53,8 k €
Net result	275 k €	+35.8%	202,6 k €	+76.3%	114,9 k €	+1.6%	113,1 k €	+283%	29,5 k €	-57.7%	69,7 k €	+4336%	1,6 k €	+169%	-2,3 k €	-249%	1,5 k €	-91.1%	17,2 k €	+594%	2,5 k €	+275%	-1,4 k €	-110%	13,9 k €	-69.0%	45 k €	+18.9%	37,8 k €	-12.3%	43,2 k €	-4.0%	44,9 k €	+71.2%	26,2 k €	-20.5%	33 k €	-5.1%	34,8 k €
Balance sheet
Equity	1,1 M €	+29.3%	860,3 k €	+21.0%	711,3 k €	+19.3%	596,4 k €	+16.2%	513,3 k €	+6.1%	483,8 k €	+11.4%	434,1 k €	+0.4%	432,5 k €	-0.5%	434,8 k €	+0.4%	433,3 k €	+4.1%	416 k €	+0.6%	413,5 k €	-0.3%	415 k €	+3.5%	401 k €	+12.6%	356 k €	+9.8%	324,2 k €	+9.9%	295,1 k €	+11.7%	264,1 k €	+11.0%	237,9 k €	+16.1%	204,9 k €
Total assets	1,4 M €	+13.0%	1,3 M €	+8.4%	1,2 M €	+5.0%	1,1 M €	+22.8%	918 k €	+0.7%	912 k €	-0.6%	917,1 k €	-1.7%	933,3 k €	-9.3%	1 M €	+4.7%	983 k €	+0.2%	981,3 k €	-2.6%	1 M €	+36.1%	740,3 k €	+3.2%	717,4 k €	+10.1%	651,4 k €	+2.1%	638,1 k €	+5.3%	606 k €	-8.8%	664,5 k €	-4.6%	696,7 k €	+10.1%	633 k €
Cash	583,8 k €	+105%	285,3 k €	+6.8%	267,1 k €	-47.3%	507,1 k €	+41.4%	358,7 k €	+19.4%	300,3 k €	+62.6%	184,7 k €	+123%	82,9 k €	-9.0%	91 k €	+9.7%	83 k €	+5.7%	78,5 k €	+2.6%	76,5 k €	-59.4%	188,4 k €	+17.6%	160,2 k €	+29.0%	124,2 k €	+58.5%	78,4 k €	+4.7%	74,9 k €	+63.1%	45,9 k €	+5.1%	43,7 k €	+235%	13 k €
Debts	334,2 k €	-20.5%	420,4 k €	-10.8%	471,3 k €	-6.9%	506,3 k €	+25.3%	404,2 k €	-5.6%	428,1 k €	-11.4%	483 k €	-3.5%	500,8 k €	-15.7%	594,2 k €	+8.1%	549,8 k €	-2.7%	564,9 k €	-4.9%	593,8 k €	+88.3%	315,4 k €	+2.9%	306,4 k €	+7.9%	283,9 k €	-9.6%	313,9 k €	+1.0%	311 k €	-22.3%	400,4 k €	-12.7%	458,9 k €	+7.2%	428,1 k €
Other
Workforce	7,0 ETP	+12.9%	6,2 ETP	+5.1%	5,9 ETP	+5.4%	5,6 ETP	+1.8%	5,5 ETP	-21.4%	7,0 ETP	+1.4%	6,9 ETP	+15.0%	6,0 ETP	+1.7%	5,9 ETP	+1.7%	5,8 ETP	-1.7%	5,9 ETP	+20.4%	4,9 ETP	+11.4%	4,4 ETP	-18.5%	5,4 ETP	+12.5%	4,8 ETP	+4.3%	4,6 ETP	-4.2%	4,8 ETP	+17.1%	4,1 ETP	+5.1%	3,9 ETP	-2.5%	4,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 4 ended

Active mandates

Christianne Mulders

Director

Active

Delphine Punie

Director

Active

Vincent Punie

Director

Active

Ended mandates

Christiane Mulders

Director

Ended

Christiane Mulders

Managing director

Ended

Rosa Van Glabbeek

Director

Ended

Walter Mulders

Director

Ended

At this address

Other companies at this address

Company	CBE no.
IMMO MULDERS● Active	0449.886.889
Immo Mulders Optiek● Active	0545.843.051

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	11/06/2026	27/05/2025	28/05/2024	30/05/2023	29/06/2022	16/06/2021
General meeting	26/05/2026	26/05/2025	27/05/2024	29/05/2023	30/05/2022	31/05/2021
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	26/05/2026	11/06/2026	Dutch	PDF
Abridged model	31/12/2024	26/05/2025	27/05/2025	Dutch	PDF
Abridged model	31/12/2023	27/05/2024	28/05/2024	Dutch	PDF
Abridged model	31/12/2022	29/05/2023	30/05/2023	Dutch	PDF
Abridged model	31/12/2021	30/05/2022	29/06/2022	Dutch	PDF
Abridged model	31/12/2020	31/05/2021	16/06/2021	Dutch	PDF
Abridged model	31/12/2019	25/05/2020	02/06/2020	Dutch	PDF
Abridged model	31/12/2018	13/08/2019	27/08/2019	Dutch	PDF
Abridged model	31/12/2017	25/07/2018	13/08/2018	Dutch	PDF
Abridged model	31/12/2016	29/05/2017	31/05/2017	Dutch	PDF
Abridged model	31/12/2015	28/07/2016	17/08/2016	Dutch	PDF
Abridged model	31/12/2014	25/05/2015	12/06/2015	Dutch	PDF
Abridged model	31/12/2013	19/09/2014	24/09/2014	Dutch	PDF
Abridged model	31/12/2012	27/05/2013	19/08/2013	Dutch	PDF
Abridged model	31/12/2011	28/05/2012	24/09/2012	Dutch	PDF
Abridged model	31/12/2010	30/05/2011	29/12/2011	Dutch	PDF
Abridged model	31/12/2009	31/05/2010	20/08/2010	Dutch	PDF
Abridged model	31/12/2008	25/05/2009	21/08/2009	Dutch	PDF
Abridged model	31/12/2007	26/05/2008	11/07/2008	Dutch	PDF
Abridged model	31/12/2006	28/05/2007	04/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

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 · 3 active · 4 ended

Active mandates

Christianne Mulders

Director

Active

Delphine Punie

Director

Active

Vincent Punie

Director

Active

Ended mandates

Christiane Mulders

Director

Ended

Christiane Mulders

Managing director

Ended

Rosa Van Glabbeek

Director

Ended

Walter Mulders

Director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/11/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/12/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/08/2007
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 2025275 k €↑
2024
Annual accounts 2024202,6 k €↑
2023
Annual accounts 2023114,9 k €↑
2022
Annual accounts 2022113,1 k €↑
2021
Annual accounts 202129,5 k €↓
2020
Annual accounts 202069,7 k €↑
2019
Annual accounts 20191,6 k €↑
2018
Annual accounts 2018-2,3 k €↓
2017
Annual accounts 20171,5 k €↓
2016
Annual accounts 201617,2 k €↑
2015
Annual accounts 20152,5 k €↑
2014
Annual accounts 2014-1,4 k €↓
2013
Annual accounts 201313,9 k €↓
2012
Annual accounts 201245 k €↑
2011
Annual accounts 201137,8 k €↓
2010
Annual accounts 201043,2 k €↓
2009
Annual accounts 200944,9 k €↑
2008
Annual accounts 200826,2 k €↓
2007
Annual accounts 200733 k €↓
2006
Annual accounts 200634,8 k €
11/02/1991
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

Mulders

Overview

What does Mulders do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

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