MODITO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 25-03-2026 PDF all 17 filings
Turnover
≈ €73,000
Estimated: probably between €45,000 and €110,000
Total assets
€17,926▼ 48.3%
2024 · €34,698
Net result
€2,835▲ 118%
2024 · €1,300
Working capital
-€40,594▲ 11.8%
2024 · -€46,002
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€9,211
▼ 11.9%
2025
20192025
Net result
€2,835
▲ 118%
2025
middle half of the sector
20192025
Equity
-€32,785
▲ 8.0%
2025
lowest quarter of the sector
20192025
Total assets
€17,926
▼ 48.3%
2025
lowest quarter of the sector
20192025
Debt
€50,711
▼ 27.9%
2025
20192025
Working capital
-€40,594
▲ 11.8%
2025
middle half of the sector
20192025
Solvency
-182.9%
▼ 80.2pp
2025
lowest quarter of the sector
20192025
Current ratio
0.20
▲ 0.02
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
15.8%
▲ 12.1pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€4,461-€5,643▲ 26.5%€15,068▲ 167%€22,192▲ 47.3%€7,937▼ 64.2%€10,449▲ 31.6%€9,211▼ 11.9%
Net result-€1,108-€192below the sector's middle half€6,283within the sector's middle half▲ 33×€17,895within the sector's middle half▲ 185%€1,345below the sector's middle half▼ 92.5%€1,300below the sector's middle half▼ 3.4%€2,835within the sector's middle half▲ 118%
Equity-€62,635--€62,443below the sector's middle half▲ 0.3%-€56,160below the sector's middle half▲ 10.1%-€38,265below the sector's middle half▲ 31.9%-€36,920below the sector's middle half▲ 3.5%-€35,620below the sector's middle half▲ 3.5%-€32,785below the sector's middle half▲ 8.0%
Total assets€118,055-€109,421below the sector's middle half▼ 7.3%€80,126below the sector's middle half▼ 26.8%€69,371below the sector's middle half▼ 13.4%€51,048below the sector's middle half▼ 26.4%€34,698below the sector's middle half▼ 32.0%€17,926below the sector's middle half▼ 48.3%
Debt€180,690-€171,865▼ 4.9%€136,286▼ 20.7%€107,637▼ 21.0%€87,968▼ 18.3%€70,319▼ 20.1%€50,711▼ 27.9%
Working capital-€73,062--€69,866within the sector's middle half▲ 4.4%-€59,275within the sector's middle half▲ 15.2%-€46,144within the sector's middle half▲ 22.2%-€47,643within the sector's middle half▼ 3.2%-€46,002within the sector's middle half▲ 3.4%-€40,594within the sector's middle half▲ 11.8%
Solvency-53.1%--57.1%below the sector's middle half▼ 4.0pp-70.1%below the sector's middle half▼ 13.0pp-55.2%below the sector's middle half▲ 14.9pp-72.3%below the sector's middle half▼ 17.2pp-102.7%below the sector's middle half▼ 30.3pp-182.9%below the sector's middle half▼ 80.2pp
Current ratio0.24-0.26below the sector's middle half▲ 0.030.20below the sector's middle half▼ 0.060.24below the sector's middle half▲ 0.040.16below the sector's middle half▼ 0.080.18below the sector's middle half▲ 0.010.20below the sector's middle half▲ 0.02
Return on assets (ROA)-0.9%-0.2%below the sector's middle half▲ 1.1pp7.8%within the sector's middle half▲ 7.7pp25.8%above the sector's middle half▲ 18.0pp2.6%within the sector's middle half▼ 23.2pp3.7%within the sector's middle half▲ 1.1pp15.8%above the sector's middle half▲ 12.1pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 12% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €17,926
Fixed assets
€7,809 ▼ 68.4%
Current assets
€10,117 ▲ 1.5%
Equity and liabilities
Equity-€32,785
Debt€50,711
Equity is negative. Debt (€50,711) exceeds the balance-sheet total (€17,926).
Key figures and ratios
EBITDA
€26,129▼
2024 · €27,417
Cash flow
€19,753▲
2024 · €18,267
Interest coverage
10.84▲
2024 · 9.27
Debt ≤ 1 year
€50,711▼
2024 · €55,973
Debt > 1 year
€0▼
2024 · €14,346
Income taxes
€3,964▼
2024 · €6,199
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €200,000 | €200,000 | €200,000 | €200,000 |
| Carrying value of the mortgaged assets | €54,856 | €41,695 | €24,727 | €7,809 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €4,886 | €3,736 | - | - |
| Depreciation and write-downs of the year | €15,532 | €16,898 | €16,967 | €16,918 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,036 | €14,904 | €15,243 | €15,532 | €16,898 | €16,967 | €16,918 | ▼ 0.3% |
| Other operating charges640/8 | - | - | - | €1,883 | €2,361 | €2,135 | €2,192 | ▲ 2.7% |
| Gross operating margin9900 | €20,915 | €23,472 | €32,212 | €39,606 | €27,196 | €29,552 | €28,321 | ▼ 4.2% |
| Operating profit (loss)9901 | €4,461 | €5,643 | €15,068 | €22,192 | €7,937 | €10,449 | €9,211 | ▼ 11.9% |
| Financial income75/76B | - | - | - | €0 | - | €9 | €0 | ▼ 99.6% |
| Recurring financial income75 | €0 | €0 | €6 | €0 | - | €9 | €0 | ▼ 99.6% |
| Financial charges65/66B | - | - | - | €4,075 | €3,302 | €2,959 | €2,411 | ▼ 18.5% |
| Recurring financial charges65 | €5,348 | €5,173 | €4,772 | €4,075 | €3,302 | €2,959 | €2,411 | ▼ 18.5% |
| Non-recurring financial charges66B | - | - | - | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€887 | €470 | €6,500 | €18,117 | €4,635 | €7,499 | €6,800 | ▼ 9.3% |
| Income taxes67/77 | €139 | €278 | €217 | €222 | €3,290 | €6,199 | €3,964 | ▼ 36.1% |
| Profit (loss) for the period9904 | -€1,108 | €192 | €6,283 | €17,895 | €1,345 | €1,300 | €2,835 | ▲ 118% |
| Profit (loss) for the period to be appropriated9905 | -€1,108 | €192 | €6,283 | €17,895 | €1,345 | €1,300 | €2,835 | ▲ 118% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €118,055 | €109,421 | €80,126 | €69,371 | €51,048 | €34,698 | €17,926 | ▼ 48.3% |
| Fixed assets21/28 | €95,580 | €84,646 | €65,502 | €54,856 | €41,695 | €24,727 | €7,809 | ▼ 68.4% |
| Tangible fixed assets22/27 | €91,678 | €80,745 | €65,502 | €54,856 | €41,695 | €24,727 | €7,809 | ▼ 68.4% |
| Land and buildings22 | - | - | - | €54,856 | €41,695 | €24,727 | €7,809 | ▼ 68.4% |
| Financial fixed assets28 | €3,901 | €3,901 | €0 | - | - | - | - | - |
| Current assets29/58 | €22,475 | €24,775 | €14,624 | €14,515 | €9,354 | €9,971 | €10,117 | ▲ 1.5% |
| Amounts receivable within one year40/41 | €21,989 | €24,204 | €13,658 | €13,855 | €8,835 | €9,117 | €9,262 | ▲ 1.6% |
| Trade receivables40 | - | - | - | €13,802 | €8,835 | €9,117 | €9,262 | ▲ 1.6% |
| Other amounts receivable41 | - | - | - | €53 | €0 | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €660 | €519 | €854 | €856 | ▲ 0.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €118,055 | €109,421 | €80,126 | €69,371 | €51,048 | €34,698 | €17,926 | ▼ 48.3% |
| Equity10/15 | -€62,635 | -€62,443 | -€56,160 | -€38,265 | -€36,920 | -€35,620 | -€32,785 | ▲ 8.0% |
| Contributions10/11 | €18,750 | - | - | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Reserves13 | €2,137 | €2,137 | €2,137 | €2,137 | €2,137 | €2,137 | €2,137 | = |
| Non-distributable reserves130/1 | - | - | - | €1,875 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,875 | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €262 | €262 | €262 | €262 | = |
| Distributable reserves133 | - | - | - | - | €1,875 | €1,875 | €1,875 | = |
| Profit (loss) carried forward14 | -€83,522 | -€83,330 | -€77,047 | -€59,152 | -€57,807 | -€56,507 | -€53,672 | ▲ 5.0% |
| Amounts payable17/49 | €180,690 | €171,865 | €136,286 | €107,637 | €87,968 | €70,319 | €50,711 | ▼ 27.9% |
| Amounts payable after more than one year17 | €84,433 | €77,224 | €62,388 | €46,978 | €30,971 | €14,346 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €46,978 | €30,971 | €14,346 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €95,537 | €94,641 | €73,898 | €60,659 | €56,997 | €55,973 | €50,711 | ▼ 9.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,410 | €16,006 | €16,626 | €14,346 | ▼ 13.7% |
| Financial debts43 | - | - | - | €6,770 | €4,620 | €5,683 | €4,722 | ▼ 16.9% |
| Credit institutions430/8 | - | - | - | €6,770 | €4,620 | €5,683 | €4,722 | ▼ 16.9% |
| Trade debts44 | €11,802 | €11,260 | €4,536 | €905 | €11,036 | €908 | €2,078 | ▲ 129% |
| Suppliers440/4 | - | - | - | €905 | €11,036 | €908 | €2,078 | ▲ 129% |
| Taxes, remuneration and social security45 | - | - | - | €2,764 | €5,334 | €5,630 | €5,705 | ▲ 1.3% |
| Taxes450/3 | - | - | - | €2,764 | €5,334 | €5,630 | €5,705 | ▲ 1.3% |
| Other amounts payable47/48 | - | - | - | €34,810 | €20,000 | €27,126 | €23,860 | ▼ 12.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,108 | €192 | €6,283 | €17,895 | €1,345 | €1,300 | €2,835 | ▲ 118% |
| + Depreciation and write-downs630 | €15,036 | €14,904 | €15,243 | €15,532 | €16,898 | €16,967 | €16,918 | ▼ 0.3% |
| Operating cash flow (approximation) | €13,928 | €15,096 | €21,526 | €33,427 | €18,243 | €18,267 | €19,753 | ▲ 8.1% |
| Investment in fixed assets (approximation) | - | -€3,970 | €3,901 | -€4,886 | -€3,736 | €0 | €0 | - |
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, 3,632 companies had the same profile as MODITO has now. Two years later, 91.8% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
91.8%
was still going
4.8%
stopped otherwise
2.9%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MODITO itself is lower: 0.4% within 12 months. It rests on far more data about MODITO than the profile alone.
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 3,632 companies, not a prediction for MODITO. 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.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 25-03-2026 | 2026-00063279 | |
| 30-09-2024 | abbreviated format | 18-03-2025 | 2025-00050568 | |
| 30-09-2023 | abbreviated format | 19-03-2024 | 2024-00046556 | |
| 30-09-2022 | abbreviated format | 20-03-2023 | 2023-00042711 | |
| 30-09-2021 | abbreviated format | 21-03-2022 | 2022-08200136 | |
| 30-09-2020 | abbreviated format | 16-03-2021 | 2021-07700155 | |
| 30-09-2019 | abbreviated format | 27-03-2020 | 2020-08000154 | |
| 30-09-2018 | abbreviated format | 05-04-2019 | 2019-09600109 | |
| 30-09-2017 | abbreviated format | 28-02-2018 | 2018-06300447 | |
| 30-09-2016 | abbreviated format | 13-03-2017 | 2017-06300012 |