MODA 54: 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.
What changed
MODA 54
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€15,367
2024 · €8,569+€6,798
Equity
€574,335
2024 · €558,968+€15,367
Cash
€7,174
2024 · €15,009-€7,835
Balance sheet total
€2.1m
2024 · €1.8m+€248,379
Largest movements
Assets
- Deferred charges and accrued income +€507,608
up €507,608 (+275.8%), from €184,059 to €691,668
- Stocks and contracts -€277,504
down €277,504 (-23.8%), from €1.2m to €889,025
- Receivables within one year +€44,936
up €44,936 (+159.4%), from €28,193 to €73,129
of which Trade receivables: +€51,480
- Receivables after one year -€25,000
no longer reported in 2025 (was €25,000)
Equity and liabilities
- Tax, wage and social debts +€295,065
up €295,065 (+110.5%), from €267,130 to €562,195
of which Taxes: +€238,577
- Debts after one year -€102,937
no longer reported in 2025 (was €102,937)
- Other debts +€46,619
new in 2025: €46,619
Income statement
- Gross operating margin +€168,324
up €168,324 (+31.7%), from €531,014 to €699,338
- Write-downs +€130,717
up €130,717 (+1369.7%), from €9,543 to €140,260
- Financial charges +€19,447
up €19,447 (+69.0%), from €28,181 to €47,628
- Other operating charges +€8,043
up €8,043 (+32.2%), from €25,000 to €33,042
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.
Result 2024
€8,569
Gross operating margin
+€168,324
Staff costs
+€2,360
Depreciation
-€1,640
Write-downs
-€130,717
Other operating charges
-€8,043
Financial income
-€475
Financial charges
-€19,447
Taxes
-€3,565
Result 2025
€15,367
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.
From operations
+€105,975
Investment
-€14,900
Financing
-€98,910
Cash 2024
€15,009
From operations (derived)
+€105,975
Net result for the year
+€15,367
Depreciation
+€8,726
Receivables after one year
+€25,000
Stocks and contracts
+€277,504
Receivables within one year
-€44,936
Deferred charges and accrued income
-€507,608
Trade debts
-€10,853
Tax, wage and social debts
+€295,065
Advances received
+€1,090
Other debts
+€46,619
Investment (derived)
-€14,900
Investment in fixed assets (net)
-€14,900
Financing
-€98,910
Debts after one year
-€102,937
Current portion of long-term debt
+€4,027
Cash 2025
€7,174
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,811,472 | €2,059,851 | +€248,379 | +13.7% |
| Formation expenses | 20 | €334,757 | €334,757 | = | 0.0% |
| Fixed assets | 21/28 | €57,926 | €64,100 | +€6,174 | +10.7% |
| Tangible fixed assets | 22/27 | €11,742 | €17,915 | +€6,174 | +52.6% |
| Furniture and vehicles | 24 | €9,865 | €4,370 | -€5,495 | -55.7% |
| Other tangible fixed assets | 26 | €1,876 | €13,545 | +€11,669 | +621.9% |
| Financial fixed assets | 28 | €46,184 | €46,184 | = | 0.0% |
| Current assets | 29/58 | €1,418,790 | €1,660,995 | +€242,205 | +17.1% |
| Amounts receivable after more than one year | 29 | €25,000 | - | -€25,000 | |
| Other amounts receivable | 291 | €25,000 | - | -€25,000 | |
| Stocks and contracts in progress | 3 | €1,166,529 | €889,025 | -€277,504 | -23.8% |
| Stocks | 30/36 | €1,166,529 | €889,025 | -€277,504 | -23.8% |
| Amounts receivable within one year | 40/41 | €28,193 | €73,129 | +€44,936 | +159.4% |
| Trade receivables | 40 | - | €51,480 | +€51,480 | |
| Other amounts receivable | 41 | €28,193 | €21,649 | -€6,544 | -23.2% |
| Cash at bank and in hand | 54/58 | €15,009 | €7,174 | -€7,835 | -52.2% |
| Deferred charges and accrued income | 490/1 | €184,059 | €691,668 | +€507,608 | +275.8% |
| Total equity and liabilities | 10/49 | €1,811,472 | €2,059,851 | +€248,379 | +13.7% |
| Equity | 10/15 | €558,968 | €574,335 | +€15,367 | +2.7% |
| Contributions | 10/11 | €210,373 | €210,373 | = | 0.0% |
| Capital | 10 | €210,373 | €210,373 | = | 0.0% |
| Issued capital | 100 | €210,373 | €210,373 | = | 0.0% |
| Reserves | 13 | €123,096 | €123,096 | = | 0.0% |
| Non-distributable reserves | 130/1 | €31,037 | €31,037 | = | 0.0% |
| Legal reserve | 130 | €31,037 | €31,037 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €35,809 | €35,809 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,498 | €240,865 | +€15,367 | +6.8% |
| Amounts payable | 17/49 | €1,252,505 | €1,485,517 | +€233,012 | +18.6% |
| Amounts payable after more than one year | 17 | €102,937 | - | -€102,937 | |
| Financial debts | 170/4 | €102,937 | - | -€102,937 | |
| Amounts payable within one year | 42/48 | €1,149,568 | €1,485,517 | +€335,949 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €352,488 | €356,514 | +€4,027 | +1.1% |
| Trade debts | 44 | €527,791 | €516,938 | -€10,853 | -2.1% |
| Suppliers | 440/4 | €527,791 | €516,938 | -€10,853 | -2.1% |
| Advances received on contracts in progress | 46 | €2,160 | €3,250 | +€1,090 | +50.5% |
| Taxes, remuneration and social security | 45 | €267,130 | €562,195 | +€295,065 | +110.5% |
| Taxes | 450/3 | €203,540 | €442,117 | +€238,577 | +117.2% |
| Remuneration and social security | 454/9 | €63,590 | €120,078 | +€56,488 | +88.8% |
| Other amounts payable | 47/48 | - | €46,619 | +€46,619 | |
| Remuneration, social security and pensions | 62 | €445,799 | €443,440 | -€2,360 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,086 | €8,726 | +€1,640 | +23.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,543 | €140,260 | +€130,717 | +1369.7% |
| Other operating charges | 640/8 | €25,000 | €33,042 | +€8,043 | +32.2% |
| Gross operating margin | 9900 | €531,014 | €699,338 | +€168,324 | +31.7% |
| Operating profit (loss) | 9901 | €43,586 | €73,869 | +€30,284 | +69.5% |
| Financial income | 75/76B | €788 | €313 | -€475 | -60.2% |
| Recurring financial income | 75 | €788 | €313 | -€475 | -60.2% |
| Financial charges | 65/66B | €28,181 | €47,628 | +€19,447 | +69.0% |
| Recurring financial charges | 65 | €28,181 | €47,628 | +€19,447 | +69.0% |
| Profit (loss) for the period before taxes | 9903 | €16,193 | €26,555 | +€10,362 | +64.0% |
| Income taxes | 67/77 | €7,623 | €11,188 | +€3,565 | +46.8% |
| Profit (loss) for the period | 9904 | €8,569 | €15,367 | +€6,798 | +79.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,569 | €15,367 | +€6,798 | +79.3% |
Source: filed annual accounts (NBB), financial years ended 29 February 2024 and 28 February 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.