MOD'ARTE: what changed
Two financial 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.
MOD'ARTE
Largest movements
- Cash +€3,617
up €3,617 (+100.7%), from €3,593 to €7,210
mainly Net result for the year (+€4,905) and Depreciation (+€2,655)
- Tangible fixed assets -€2,655
down €2,655 (-46.8%), from €5,668 to €3,013
- Stocks and contracts +€1,290
up €1,290 (+46.2%), from €2,795 to €4,085
- Deferred charges and accrued income +€613
up €613 (+78.0%), from €786 to €1,399
- Receivables within one year -€189
down €189 (-100.0%), from €189 to €0
of which Trade receivables: -€132
- Profit (loss) carried forward +€4,905
up €4,905 (+12.3%), from -€39,722 to -€34,817
- Other debts -€2,564
down €2,564 (-5.3%), from €48,123 to €45,559
- Tax, wage and social debts +€804
up €804 (+46.4%), from €1,732 to €2,535
- Trade debts -€289
down €289 (-25.0%), from €1,159 to €869
- Short-term financial debts -€179
down €179 (-18.5%), from €965 to €786
- Gross operating margin +€18,050
up €18,050, from -€8,957 to €9,093
- Depreciation +€353
up €353 (+15.3%), from €2,302 to €2,655
- Other operating charges -€137
down €137 (-10.9%), from €1,257 to €1,120
- Financial charges -€130
down €130 (-44.1%), from €295 to €165
From the 2024 result to the 2025 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 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,257 | €15,932 | +€2,676 | +20.2% |
| Fixed assets | 21/28 | €5,893 | €3,238 | -€2,655 | -45.1% |
| Tangible fixed assets | 22/27 | €5,668 | €3,013 | -€2,655 | -46.8% |
| Furniture and vehicles | 24 | €5,668 | €3,013 | -€2,655 | -46.8% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €7,363 | €12,694 | +€5,331 | +72.4% |
| Stocks and contracts in progress | 3 | €2,795 | €4,085 | +€1,290 | +46.2% |
| Stocks | 30/36 | €2,795 | €4,085 | +€1,290 | +46.2% |
| Amounts receivable within one year | 40/41 | €189 | €0 | -€189 | -100.0% |
| Trade receivables | 40 | €132 | €0 | -€132 | -100.0% |
| Other amounts receivable | 41 | €57 | €0 | -€57 | -100.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,593 | €7,210 | +€3,617 | +100.7% |
| Deferred charges and accrued income | 490/1 | €786 | €1,399 | +€613 | +78.0% |
| Total equity and liabilities | 10/49 | €13,257 | €15,932 | +€2,676 | +20.2% |
| Equity | 10/15 | -€38,722 | -€33,817 | +€4,905 | +12.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,722 | -€34,817 | +€4,905 | +12.3% |
| Amounts payable | 17/49 | €51,978 | €49,750 | -€2,229 | -4.3% |
| Amounts payable within one year | 42/48 | €51,978 | €49,750 | -€2,229 | -4.3% |
| Financial debts | 43 | €965 | €786 | -€179 | -18.5% |
| Credit institutions | 430/8 | €965 | €786 | -€179 | -18.5% |
| Trade debts | 44 | €1,159 | €869 | -€289 | -25.0% |
| Suppliers | 440/4 | €1,159 | €869 | -€289 | -25.0% |
| Taxes, remuneration and social security | 45 | €1,732 | €2,535 | +€804 | +46.4% |
| Taxes | 450/3 | €1,732 | €2,535 | +€804 | +46.4% |
| Other amounts payable | 47/48 | €48,123 | €45,559 | -€2,564 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,302 | €2,655 | +€353 | +15.3% |
| Other operating charges | 640/8 | €1,257 | €1,120 | -€137 | -10.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€8,957 | €9,093 | +€18,050 | |
| Operating profit (loss) | 9901 | -€12,515 | €5,318 | +€17,834 | |
| Financial income | 75/76B | €5 | €0 | -€5 | -91.4% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -91.4% |
| Financial charges | 65/66B | €295 | €165 | -€130 | -44.1% |
| Recurring financial charges | 65 | €295 | €165 | -€130 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,805 | €5,154 | +€17,959 | |
| Income taxes | 67/77 | €238 | €249 | +€11 | +4.7% |
| Profit (loss) for the period | 9904 | -€13,043 | €4,905 | +€17,948 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,043 | €4,905 | +€17,948 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.