ERIC MODAVE: what changed
Two fiscal 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.
ERIC MODAVE
Largest movements
- Cash +€236,416
up €236,416 (+98.9%), from €238,939 to €475,355
mainly Net result for the year (+€370,463) and Provisions (+€111,291)
- Receivables within one year +€85,960
up €85,960 (+77.6%), from €110,769 to €196,730
of which Other amounts receivable: +€80,195
- Tangible fixed assets +€39,561
up €39,561 (+8.4%), from €471,755 to €511,316
of which Furniture and vehicles: +€50,023
- Reserves +€334,292
up €334,292 (+36.6%), from €913,054 to €1.2m
of which Tax-exempt reserves: +€334,292
- Other debts -€117,141
no longer reported in 2024 (was €117,141)
- Provisions +€111,291
up €111,291 (+991.3%), from €11,227 to €122,518
- Profit (loss) carried forward +€35,797
up €35,797 (+1027.2%), from €3,485 to €39,282
- Gross operating margin +€512,761
up €512,761 (+24731.0%), from €2,073 to €514,834
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,074,629 | €1,434,433 | +€359,804 | +33.5% |
| Fixed assets | 21/28 | €471,755 | €511,316 | +€39,561 | +8.4% |
| Tangible fixed assets | 22/27 | €471,755 | €511,316 | +€39,561 | +8.4% |
| Land and buildings | 22 | €457,527 | €442,978 | -€14,549 | -3.2% |
| Plant, machinery and equipment | 23 | €690 | €4,777 | +€4,087 | +592.0% |
| Furniture and vehicles | 24 | €13,538 | €63,560 | +€50,023 | +369.5% |
| Current assets | 29/58 | €602,874 | €923,117 | +€320,243 | +53.1% |
| Amounts receivable within one year | 40/41 | €110,769 | €196,730 | +€85,960 | +77.6% |
| Trade receivables | 40 | €1,287 | €7,053 | +€5,765 | +447.8% |
| Other amounts receivable | 41 | €109,482 | €189,677 | +€80,195 | +73.2% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €238,939 | €475,355 | +€236,416 | +98.9% |
| Deferred charges and accrued income | 490/1 | €3,166 | €1,033 | -€2,133 | -67.4% |
| Total equity and liabilities | 10/49 | €1,074,629 | €1,434,433 | +€359,804 | +33.5% |
| Equity | 10/15 | €938,857 | €1,308,947 | +€370,090 | +39.4% |
| Contributions | 10/11 | €22,318 | €22,318 | = | 0.0% |
| Reserves | 13 | €913,054 | €1,247,346 | +€334,292 | +36.6% |
| Tax-exempt reserves | 132 | €78,054 | €412,346 | +€334,292 | +428.3% |
| Distributable reserves | 133 | €835,000 | €835,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,485 | €39,282 | +€35,797 | +1027.2% |
| Provisions and deferred taxes | 16 | €11,227 | €122,518 | +€111,291 | +991.3% |
| Deferred taxes | 168 | €11,227 | €122,518 | +€111,291 | +991.3% |
| Amounts payable | 17/49 | €124,545 | €2,968 | -€121,577 | -97.6% |
| Amounts payable within one year | 42/48 | €124,545 | €2,968 | -€121,577 | -97.6% |
| Trade debts | 44 | €7,356 | €2,884 | -€4,472 | -60.8% |
| Suppliers | 440/4 | €7,356 | €2,884 | -€4,472 | -60.8% |
| Taxes, remuneration and social security | 45 | €48 | €84 | +€36 | +75.0% |
| Taxes | 450/3 | €48 | €84 | +€36 | +75.0% |
| Other amounts payable | 47/48 | €117,141 | - | -€117,141 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,880 | €29,755 | -€126 | -0.4% |
| Other operating charges | 640/8 | €6,110 | €8,979 | +€2,869 | +47.0% |
| Gross operating margin | 9900 | €2,073 | €514,834 | +€512,761 | +24731.0% |
| Operating profit (loss) | 9901 | -€33,917 | €476,100 | +€510,018 | |
| Financial income | 75/76B | €1,979 | €5,457 | +€3,478 | +175.7% |
| Recurring financial income | 75 | €1,979 | €5,457 | +€3,478 | +175.7% |
| Financial charges | 65/66B | €226 | €176 | -€50 | -22.2% |
| Recurring financial charges | 65 | €226 | €176 | -€50 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | -€32,164 | €481,381 | +€513,545 | |
| Transfer from deferred taxes | 780 | €770 | €770 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €111,687 | +€111,687 | |
| Profit (loss) for the period | 9904 | -€31,395 | €370,463 | +€401,858 | |
| Transfer from tax-exempt reserves | 789 | €396 | €396 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €335,062 | +€335,062 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,999 | €35,797 | +€66,796 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.