MODEDY SERVICES
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 28-05-2026 PDF all 10 filings
Turnover
≈ €110,000
Estimated: probably between €86,000 and €150,000
EBIT margin
Not included in this filing
Net result
€29,470▼ 35.3%
2024 · €45,545
Working capital
€116,858▲ 5.9%
2024 · €110,394
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€40,318
▼ 36.3%
2025
20182025
Net result
€29,470
▼ 35.3%
2025
middle half of the sector
20182025
Equity
€149,422
▼ 2.2%
2025
middle half of the sector
20182025
Total assets
€161,067
▼ 5.7%
2025
middle half of the sector
20182025
Debt
€11,646
▼ 35.4%
2025
20182025
Working capital
€116,858
▲ 5.9%
2025
highest quarter of the sector
20182025
Solvency
92.8%
▲ 3.3pp
2025
highest quarter of the sector
20182025
Current ratio
11.03
▲ 3.91
2025
highest quarter of the sector
20182025
Return on assets (ROA)
18.3%
▼ 8.4pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€2,896-€5,964▲ 106%€21,020▲ 252%€42,974▲ 104%€47,458▲ 10.4%€34,537▼ 27.2%€63,342▲ 83.4%€40,318▼ 36.3%
Net result-€7,227-€4,850€26,928within the sector's middle half▲ 455%€32,009within the sector's middle half▲ 18.9%€30,038within the sector's middle half▼ 6.2%€24,058within the sector's middle half▼ 19.9%€45,545above the sector's middle half▲ 89.3%€29,470within the sector's middle half▼ 35.3%
Equity-€9,034--€4,184▲ 53.7%€22,744within the sector's middle half€54,753within the sector's middle half▲ 141%€84,791within the sector's middle half▲ 54.9%€108,049within the sector's middle half▲ 27.4%€152,794within the sector's middle half▲ 41.4%€149,422within the sector's middle half▼ 2.2%
Total assets€43,860-€37,108▼ 15.4%€28,195below the sector's middle half▼ 24.0%€70,613within the sector's middle half▲ 150%€113,818within the sector's middle half▲ 61.2%€138,263within the sector's middle half▲ 21.5%€170,814within the sector's middle half▲ 23.5%€161,067within the sector's middle half▼ 5.7%
Debt€52,894-€41,292▼ 21.9%€5,451▼ 86.8%€15,860▲ 191%€29,027▲ 83.0%€30,214▲ 4.1%€18,020▼ 40.4%€11,646▼ 35.4%
Working capital-€18,759--€26,705▼ 42.4%€5,853within the sector's middle half€43,493within the sector's middle half▲ 643%€62,327within the sector's middle half▲ 43.3%€90,907within the sector's middle half▲ 45.9%€110,394above the sector's middle half▲ 21.4%€116,858above the sector's middle half▲ 5.9%
Solvency-20.6%--11.3%▲ 9.3pp80.7%above the sector's middle half▲ 91.9pp77.5%above the sector's middle half▼ 3.1pp74.5%above the sector's middle half▼ 3.0pp78.1%above the sector's middle half▲ 3.7pp89.5%above the sector's middle half▲ 11.3pp92.8%above the sector's middle half▲ 3.3pp
Current ratio0.65-0.35▼ 0.292.07within the sector's middle half▲ 1.723.74within the sector's middle half▲ 1.673.15within the sector's middle half▼ 0.604.01above the sector's middle half▲ 0.867.13above the sector's middle half▲ 3.1211.03above the sector's middle half▲ 3.91
Return on assets (ROA)-16.5%-13.1%▲ 29.5pp95.5%above the sector's middle half▲ 82.4pp45.3%above the sector's middle half▼ 50.2pp26.4%above the sector's middle half▼ 18.9pp17.4%within the sector's middle half▼ 9.0pp26.7%within the sector's middle half▲ 9.3pp18.3%within the sector's middle half▼ 8.4pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 36% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €161,067
Fixed assets
€32,564 ▼ 23.2%
Current assets
€128,503 ▲ 0.1%
Equity and liabilities €161,067
Equity
€149,422 ▼ 2.2%
Debt
€11,646 ▼ 35.4%
Debt's share of the balance-sheet total falls from 10.5% to 7.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€50,938▼
2024 · €73,669
Cash flow
€40,090▼
2024 · €55,872
Debt to equity
0.08▼
2024 · 0.12
ROE
19.7%▼
2024 · 29.8%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€11,646▼
2024 · €18,020
Income taxes
€12,659▼
2024 · €17,809
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €17,748 | €4,012 | €35,584 | €784 |
| Depreciation and write-downs of the year | €5,630 | €6,544 | €9,333 | €10,327 | €10,620 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €14,850 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,527 | €6,057 | €5,630 | €5,630 | €6,544 | €9,333 | €10,327 | €10,620 | ▲ 2.8% |
| Other operating charges640/8 | - | - | - | €696 | €351 | €1,196 | €989 | €892 | ▼ 9.8% |
| Gross operating margin9900 | €7,038 | €13,307 | €27,653 | €49,300 | €54,353 | €45,067 | €74,658 | €51,830 | ▼ 30.6% |
| Operating profit (loss)9901 | €2,896 | €5,964 | €21,020 | €42,974 | €47,458 | €34,537 | €63,342 | €40,318 | ▼ 36.3% |
| Financial income75/76B | - | - | - | €16 | - | - | €176 | €1,995 | ▲ 11× |
| Recurring financial income75 | €2 | €237 | €255 | €16 | - | - | €176 | €1,995 | ▲ 11× |
| Financial charges65/66B | - | - | - | €154 | €170 | €165 | €165 | €184 | ▲ 11.9% |
| Recurring financial charges65 | €63 | €289 | €146 | €154 | €170 | €165 | €165 | €184 | ▲ 11.9% |
| Profit (loss) for the period before taxes9903 | €2,835 | €5,911 | €21,129 | €42,836 | €47,287 | €34,372 | €63,354 | €42,129 | ▼ 33.5% |
| Income taxes67/77 | €10,062 | €1,062 | -€5,798 | €10,827 | €17,249 | €10,314 | €17,809 | €12,659 | ▼ 28.9% |
| Profit (loss) for the period9904 | -€7,227 | €4,850 | €26,928 | €32,009 | €30,038 | €24,058 | €45,545 | €29,470 | ▼ 35.3% |
| Profit (loss) for the period to be appropriated9905 | -€7,227 | €4,850 | €26,928 | €32,009 | €30,038 | €24,058 | €45,545 | €29,470 | ▼ 35.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €43,860 | €37,108 | €28,195 | €70,613 | €113,818 | €138,263 | €170,814 | €161,067 | ▼ 5.7% |
| Fixed assets21/28 | €9,725 | €22,521 | €16,890 | €11,260 | €22,464 | €17,142 | €42,400 | €32,564 | ▼ 23.2% |
| Tangible fixed assets22/27 | €9,725 | €22,521 | €16,890 | €11,260 | €22,464 | €17,142 | €42,400 | €32,564 | ▼ 23.2% |
| Furniture and vehicles24 | - | - | - | €11,260 | €22,464 | €14,136 | €39,694 | €30,159 | ▼ 24.0% |
| Other tangible fixed assets26 | - | - | - | - | - | €3,007 | €2,706 | €2,405 | ▼ 11.1% |
| Current assets29/58 | €34,135 | €14,587 | €11,304 | €59,353 | €91,354 | €121,120 | €128,414 | €128,503 | ▲ 0.1% |
| Amounts receivable within one year40/41 | €22,245 | €10,207 | €4,749 | €824 | €676 | €1,124 | €226 | €14,249 | ▲ 63× |
| Trade receivables40 | - | - | - | €333 | €676 | €1,124 | - | €13,606 | - |
| Other amounts receivable41 | - | - | - | €491 | - | - | €226 | €643 | ▲ 184% |
| Cash at bank and in hand54/58 | €10,027 | €3,750 | €6,302 | €58,271 | €90,398 | €118,799 | €127,318 | €114,241 | ▼ 10.3% |
| Deferred charges and accrued income490/1 | - | - | - | €258 | €281 | €1,197 | €870 | €13 | ▼ 98.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €43,860 | €37,108 | €28,195 | €70,613 | €113,818 | €138,263 | €170,814 | €161,067 | ▼ 5.7% |
| Equity10/15 | -€9,034 | -€4,184 | €22,744 | €54,753 | €84,791 | €108,049 | €152,794 | €149,422 | ▼ 2.2% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,278 | €6,278 | €6,278 | = |
| Reserves13 | €78 | €78 | €78 | €32,088 | €62,126 | €85,305 | €130,050 | €126,678 | ▼ 2.6% |
| Non-distributable reserves130/1 | - | - | - | €78 | €78 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €78 | €78 | - | - | - | - |
| Distributable reserves133 | - | - | - | €32,009 | €62,047 | €85,305 | €130,050 | €126,678 | ▼ 2.6% |
| Profit (loss) carried forward14 | -€15,312 | -€10,463 | €16,465 | €16,465 | €16,465 | €16,465 | €16,465 | €16,465 | = |
| Amounts payable17/49 | €52,894 | €41,292 | €5,451 | €15,860 | €29,027 | €30,214 | €18,020 | €11,646 | ▼ 35.4% |
| Amounts payable within one year42/48 | €52,894 | €41,292 | €5,451 | €15,860 | €29,027 | €30,214 | €18,020 | €11,646 | ▼ 35.4% |
| Trade debts44 | €22,185 | €738 | €700 | €3,958 | €1,763 | €3,212 | €385 | €809 | ▲ 110% |
| Suppliers440/4 | - | - | - | €3,958 | €1,763 | €3,212 | €385 | €809 | ▲ 110% |
| Taxes, remuneration and social security45 | - | - | - | €11,902 | €26,799 | €25,394 | €17,076 | €10,094 | ▼ 40.9% |
| Taxes450/3 | - | - | - | €11,902 | €26,799 | €25,394 | €17,076 | €10,094 | ▼ 40.9% |
| Other amounts payable47/48 | - | - | - | - | €464 | €1,608 | €560 | €743 | ▲ 32.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,227 | €4,850 | €26,928 | €32,009 | €30,038 | €24,058 | €45,545 | €29,470 | ▼ 35.3% |
| + Depreciation and write-downs630 | €3,527 | €6,057 | €5,630 | €5,630 | €6,544 | €9,333 | €10,327 | €10,620 | ▲ 2.8% |
| Operating cash flow (approximation) | -€3,700 | €10,907 | €32,558 | €37,640 | €36,582 | €33,391 | €55,872 | €40,090 | ▼ 28.2% |
| Investment in fixed assets (approximation) | - | -€18,853 | €0 | €0 | -€17,748 | -€4,012 | -€35,584 | -€784 | ▲ 97.8% |
| Change in cash | - | -€6,277 | €2,551 | €51,969 | €32,127 | €28,401 | €8,519 | -€13,077 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as MODEDY SERVICES has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of MODEDY SERVICES itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for MODEDY SERVICES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-05-2026 | 2026-00124352 | |
| 31-12-2024 | micro format | 30-05-2025 | 2025-00112105 | |
| 31-12-2023 | micro format | 05-06-2024 | 2024-00113081 | |
| 31-12-2022 | micro format | 25-05-2023 | 2023-00094506 | |
| 31-12-2021 | micro format | 30-05-2022 | 2022-20045657 | |
| 31-12-2020 | micro format | 11-06-2021 | 2021-19100379 | |
| 31-12-2019 | full format | 15-06-2020 | 2020-17000460 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-60100135 | |
| 31-12-2017 | full format | 20-08-2018 | 2018-47300570 | |
| 31-12-2016 | full format | 05-07-2017 | 2017-29200594 |