MODALIZY: 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
MODALIZY
NACE 46.810, Wholesale of solid, liquid and gaseous fuels and related products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€212,099
2024 · €23,819-€235,918
Equity
-€833,142
2024 · -€621,043-€212,099
Cash
-
not filed
Balance sheet total
€8.1m
2024 · €8.1m+€24,630
Largest movements
Assets
- Current investments +€3.3m
new in 2025: €3.3m
- Receivables within one year -€2.9m
down €2.9m (-44.3%), from €6.5m to €3.6m
of which Other amounts receivable: -€2.7m
- Intangible fixed assets -€395,124
down €395,124 (-25.2%), from €1.6m to €1.2m
Equity and liabilities
- Other debts +€872,577
up €872,577 (+44.1%), from €2.0m to €2.8m
- Debts after one year -€400,000
down €400,000 (-33.3%), from €1.2m to €800,000
- Trade debts -€355,080
down €355,080 (-7.0%), from €5.1m to €4.7m
- Profit (loss) carried forward -€212,099
down €212,099 (-29.4%), from -€721,043 to -€933,142
- Tax, wage and social debts +€118,429
up €118,429 (+158%), from €74,747 to €193,176
of which Remuneration and social security: +€66,916
Income statement
- Turnover -€4.8m
down €4.8m (-8.4%), from €56.7m to €51.9m
- Goods and materials -€4.7m
down €4.7m (-8.6%), from €54.5m to €49.9m
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
€23,819
Turnover
-€4.8m
Other operating income
+€21,120
Goods and materials
+€4.7m
Services and other goods
+€69,762
Staff costs
-€275,687
Depreciation
+€12,711
Write-downs
-€26,709
Other operating charges
+€24,881
Financial income
-€4,314
Financial charges
+€26,091
Taxes
+€283
Result 2025
-€212,099
raises the resultlowers the result
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,087,516 | €8,112,145 | +€24,630 | +0.3% |
| Fixed assets | 21/28 | €1,577,978 | €1,173,516 | -€404,462 | -25.6% |
| Intangible fixed assets | 21 | €1,566,313 | €1,171,189 | -€395,124 | -25.2% |
| Tangible fixed assets | 22/27 | €3,275 | €2,327 | -€949 | -29.0% |
| Furniture and vehicles | 24 | €3,275 | €2,327 | -€949 | -29.0% |
| Financial fixed assets | 28 | €8,390 | €0 | -€8,390 | -100% |
| Other financial fixed assets | 284/8 | €8,390 | €0 | -€8,390 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €8,390 | €0 | -€8,390 | -100% |
| Current assets | 29/58 | €6,509,538 | €6,938,630 | +€429,092 | +6.6% |
| Amounts receivable within one year | 40/41 | €6,497,120 | €3,620,408 | -€2.9m | -44.3% |
| Trade receivables | 40 | €2,948,029 | €2,739,031 | -€208,998 | -7.1% |
| Other amounts receivable | 41 | €3,549,092 | €881,377 | -€2.7m | -75.2% |
| Current investments | 50/53 | - | €3,300,000 | +€3.3m | |
| Other investments | 51/53 | - | €3,300,000 | +€3.3m | |
| Deferred charges and accrued income | 490/1 | €12,417 | €18,222 | +€5,805 | +46.7% |
| Total equity and liabilities | 10/49 | €8,087,516 | €8,112,145 | +€24,630 | +0.3% |
| Equity | 10/15 | -€621,043 | -€833,142 | -€212,099 | -34.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€721,043 | -€933,142 | -€212,099 | -29.4% |
| Amounts payable | 17/49 | €8,708,559 | €8,945,288 | +€236,729 | +2.7% |
| Amounts payable after more than one year | 17 | €1,200,000 | €800,000 | -€400,000 | -33.3% |
| Financial debts | 170/4 | €1,200,000 | €800,000 | -€400,000 | -33.3% |
| Subordinated loans | 170 | €1,200,000 | €800,000 | -€400,000 | -33.3% |
| Amounts payable within one year | 42/48 | €7,503,329 | €8,139,255 | +€635,926 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €5,051,405 | €4,696,324 | -€355,080 | -7.0% |
| Suppliers | 440/4 | €5,051,405 | €4,696,324 | -€355,080 | -7.0% |
| Taxes, remuneration and social security | 45 | €74,747 | €193,176 | +€118,429 | +158% |
| Taxes | 450/3 | €22,925 | €74,438 | +€51,513 | +225% |
| Remuneration and social security | 454/9 | €51,822 | €118,738 | +€66,916 | +129% |
| Other amounts payable | 47/48 | €1,977,177 | €2,849,754 | +€872,577 | +44.1% |
| Accrued charges and deferred income | 492/3 | €5,230 | €6,033 | +€803 | +15.3% |
| Operating income | 70/76A | €56,693,145 | €51,954,450 | -€4.7m | -8.4% |
| Turnover | 70 | €56,657,277 | €51,897,461 | -€4.8m | -8.4% |
| Other operating income | 74 | €35,869 | €56,989 | +€21,120 | +58.9% |
| Operating charges | 60/66A | €56,614,711 | €52,133,992 | -€4.5m | -7.9% |
| Goods for resale, raw materials and consumables | 60 | €54,537,399 | €49,861,638 | -€4.7m | -8.6% |
| Purchases | 600/8 | €54,537,399 | €49,861,638 | -€4.7m | -8.6% |
| Services and other goods | 61 | €1,279,640 | €1,209,878 | -€69,762 | -5.5% |
| Remuneration, social security and pensions | 62 | €334,432 | €610,120 | +€275,687 | +82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €424,493 | €411,782 | -€12,711 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,112 | €19,597 | +€26,709 | |
| Other operating charges | 640/8 | €45,859 | €20,979 | -€24,881 | -54.3% |
| Operating profit (loss) | 9901 | €78,435 | -€179,543 | -€257,977 | |
| Financial income | 75/76B | €21,821 | €17,507 | -€4,314 | -19.8% |
| Recurring financial income | 75 | €16,744 | €17,507 | +€763 | +4.6% |
| Income from current assets | 751 | €16,744 | €17,502 | +€758 | +4.5% |
| Other financial income | 752/9 | - | €5 | +€5 | |
| Non-recurring financial income | 76B | €5,077 | - | -€5,077 | |
| Financial charges | 65/66B | €76,043 | €49,952 | -€26,091 | -34.3% |
| Recurring financial charges | 65 | €22,116 | €21,495 | -€620 | -2.8% |
| Debt charges | 650 | €20,579 | €20,159 | -€420 | -2.0% |
| Other financial charges | 652/9 | €1,537 | €1,337 | -€200 | -13.0% |
| Non-recurring financial charges | 66B | €53,928 | €28,457 | -€25,471 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €24,213 | -€211,988 | -€236,201 | |
| Income taxes | 67/77 | €394 | €111 | -€283 | -71.8% |
| Taxes | 670/3 | €394 | €111 | -€283 | -71.8% |
| Profit (loss) for the period | 9904 | €23,819 | -€212,099 | -€235,918 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,819 | -€212,099 | -€235,918 |
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 22 October 2026 via checked.be.