MODAXINET: what changed
MODAXINET
Largest movements
- Cash +€11,176
up €11,176 (+35.2%), from €31,730 to €42,906
mainly Net result for the year (+€31,176) and Trade debts (+€4,207)
- Tangible fixed assets +€8,839
up €8,839 (+243%), from €3,631 to €12,470
of which Furniture and vehicles: +€8,751
- Receivables within one year -€3,358
down €3,358 (-7.5%), from €44,751 to €41,393
of which Trade receivables: -€14,556
- Deferred charges and accrued income +€1,397
up €1,397 (+250%), from €558 to €1,955
- Profit (loss) carried forward +€31,175
up €31,175 (+91.5%), from -€34,084 to -€2,909
- Tax, wage and social debts -€11,470
down €11,470 (-18.2%), from €63,020 to €51,550
of which Remuneration and social security: -€8,046
- Other debts -€5,857
down €5,857 (-100%), from €5,857 to €0
- Trade debts +€4,207
up €4,207 (+45.1%), from €9,332 to €13,539
- Staff costs -€44,281
down €44,281 (-16.7%), from €264,552 to €220,271
- Gross operating margin +€13,223
up €13,223 (+5.2%), from €252,158 to €265,381
- Taxes +€8,391
up €8,391 (+733%), from €1,144 to €9,535
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,335 | €101,390 | +€18,055 | +21.7% |
| Fixed assets | 21/28 | €6,296 | €15,135 | +€8,839 | +140% |
| Tangible fixed assets | 22/27 | €3,631 | €12,470 | +€8,839 | +243% |
| Plant, machinery and equipment | 23 | €1,124 | €1,213 | +€89 | +7.9% |
| Furniture and vehicles | 24 | €2,507 | €11,258 | +€8,751 | +349% |
| Financial fixed assets | 28 | €2,665 | €2,665 | +€0 | 0.0% |
| Current assets | 29/58 | €77,039 | €86,254 | +€9,215 | +12.0% |
| Amounts receivable within one year | 40/41 | €44,751 | €41,393 | -€3,358 | -7.5% |
| Trade receivables | 40 | €44,751 | €30,195 | -€14,556 | -32.5% |
| Other amounts receivable | 41 | - | €11,198 | +€11,198 | |
| Cash at bank and in hand | 54/58 | €31,730 | €42,906 | +€11,176 | +35.2% |
| Deferred charges and accrued income | 490/1 | €558 | €1,955 | +€1,397 | +250% |
| Total equity and liabilities | 10/49 | €83,335 | €101,390 | +€18,055 | +21.7% |
| Equity | 10/15 | €5,126 | €36,301 | +€31,175 | +608% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€34,084 | -€2,909 | +€31,175 | +91.5% |
| Amounts payable | 17/49 | €78,209 | €65,088 | -€13,121 | -16.8% |
| Amounts payable within one year | 42/48 | €78,209 | €65,088 | -€13,121 | -16.8% |
| Trade debts | 44 | €9,332 | €13,539 | +€4,207 | +45.1% |
| Suppliers | 440/4 | €9,332 | €13,539 | +€4,207 | +45.1% |
| Taxes, remuneration and social security | 45 | €63,020 | €51,550 | -€11,470 | -18.2% |
| Taxes | 450/3 | €26,449 | €23,025 | -€3,424 | -12.9% |
| Remuneration and social security | 454/9 | €36,571 | €28,525 | -€8,046 | -22.0% |
| Other amounts payable | 47/48 | €5,857 | €0 | -€5,857 | -100% |
| Remuneration, social security and pensions | 62 | €264,552 | €220,271 | -€44,281 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,848 | €3,342 | +€1,494 | +80.8% |
| Other operating charges | 640/8 | €876 | €900 | +€24 | +2.7% |
| Gross operating margin | 9900 | €252,158 | €265,381 | +€13,223 | +5.2% |
| Operating profit (loss) | 9901 | -€15,118 | €40,868 | +€55,986 | |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.8% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.8% |
| Financial charges | 65/66B | €495 | €157 | -€338 | -68.2% |
| Recurring financial charges | 65 | €495 | €157 | -€338 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,608 | €40,711 | +€56,319 | |
| Income taxes | 67/77 | €1,144 | €9,535 | +€8,391 | +733% |
| Profit (loss) for the period | 9904 | -€16,752 | €31,176 | +€47,928 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,752 | €31,176 | +€47,928 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.