Modde Vastgoed: 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.
Modde Vastgoed
Largest movements
- Receivables within one year -€348,194
down €348,194 (-79.0%), from €440,617 to €92,422
of which Other amounts receivable: -€351,955
- Tangible fixed assets -€57,122
down €57,122 (-1.2%), from €4.8m to €4.7m
of which Land and buildings: -€57,122
- Other debts -€261,157
down €261,157 (-87.0%), from €300,193 to €39,037
- Trade debts -€235,836
down €235,836 (-98.7%), from €238,987 to €3,152
- Reserves +€131,677
up €131,677 (+11.2%), from €1.2m to €1.3m
of which Distributable reserves: +€131,677
- Debts after one year -€70,263
down €70,263 (-2.1%), from €3.4m to €3.3m
- Turnover +€518,400
new in 2025: €518,400
- Depreciation -€95,461
down €95,461 (-27.8%), from €343,525 to €248,064
- Gross operating margin +€49,259
up €49,259 (+8.8%), from €559,452 to €608,711
- Financial charges +€40,516
up €40,516 (+45.4%), from €89,277 to €129,794
- Purchases and services +€14,142
new in 2025: €14,142
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 | €5,484,063 | €5,054,755 | -€429,308 | -7.8% |
| Fixed assets | 21/28 | €4,802,471 | €4,745,349 | -€57,122 | -1.2% |
| Tangible fixed assets | 22/27 | €4,802,471 | €4,745,349 | -€57,122 | -1.2% |
| Land and buildings | 22 | €4,727,842 | €4,670,720 | -€57,122 | -1.2% |
| Other tangible fixed assets | 26 | €74,629 | €74,629 | = | 0.0% |
| Current assets | 29/58 | €681,592 | €309,406 | -€372,187 | -54.6% |
| Amounts receivable within one year | 40/41 | €440,617 | €92,422 | -€348,194 | -79.0% |
| Trade receivables | 40 | €48,588 | €52,349 | +€3,761 | +7.7% |
| Other amounts receivable | 41 | €392,029 | €40,073 | -€351,955 | -89.8% |
| Cash at bank and in hand | 54/58 | €240,255 | €216,236 | -€24,018 | -10.0% |
| Deferred charges and accrued income | 490/1 | €721 | €747 | +€26 | +3.6% |
| Total equity and liabilities | 10/49 | €5,484,063 | €5,054,755 | -€429,308 | -7.8% |
| Equity | 10/15 | €1,420,612 | €1,552,289 | +€131,677 | +9.3% |
| Contributions | 10/11 | €168,643 | €168,643 | = | 0.0% |
| Reserves | 13 | €1,180,382 | €1,312,059 | +€131,677 | +11.2% |
| Tax-exempt reserves | 132 | €11,996 | €11,996 | = | 0.0% |
| Distributable reserves | 133 | €1,168,386 | €1,300,063 | +€131,677 | +11.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €71,588 | €71,588 | = | 0.0% |
| Amounts payable | 17/49 | €4,063,451 | €3,502,466 | -€560,985 | -13.8% |
| Amounts payable after more than one year | 17 | €3,380,809 | €3,310,546 | -€70,263 | -2.1% |
| Financial debts | 170/4 | €3,380,809 | €3,310,546 | -€70,263 | -2.1% |
| Amounts payable within one year | 42/48 | €682,642 | €191,679 | -€490,962 | -71.9% |
| Current portion of amounts payable after more than one year | 42 | €110,176 | €115,263 | +€5,087 | +4.6% |
| Trade debts | 44 | €238,987 | €3,152 | -€235,836 | -98.7% |
| Suppliers | 440/4 | €238,987 | €3,152 | -€235,836 | -98.7% |
| Taxes, remuneration and social security | 45 | €33,285 | €34,228 | +€943 | +2.8% |
| Taxes | 450/3 | €33,285 | €34,228 | +€943 | +2.8% |
| Other amounts payable | 47/48 | €300,193 | €39,037 | -€261,157 | -87.0% |
| Accrued charges and deferred income | 492/3 | - | €240 | +€240 | |
| Turnover | 70 | - | €518,400 | +€518,400 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €14,142 | +€14,142 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €343,525 | €248,064 | -€95,461 | -27.8% |
| Other operating charges | 640/8 | €89,684 | €92,335 | +€2,651 | +3.0% |
| Gross operating margin | 9900 | €559,452 | €608,711 | +€49,259 | +8.8% |
| Operating profit (loss) | 9901 | €126,244 | €268,313 | +€142,069 | +112.5% |
| Financial income | 75/76B | €2,279 | €3,364 | +€1,086 | +47.6% |
| Recurring financial income | 75 | €2,279 | €3,364 | +€1,086 | +47.6% |
| Financial charges | 65/66B | €89,277 | €129,794 | +€40,516 | +45.4% |
| Recurring financial charges | 65 | €89,277 | €129,794 | +€40,516 | +45.4% |
| Profit (loss) for the period before taxes | 9903 | €39,245 | €141,883 | +€102,638 | +261.5% |
| Income taxes | 67/77 | - | €10,206 | +€10,206 | |
| Profit (loss) for the period | 9904 | €39,245 | €131,677 | +€92,432 | +235.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,245 | €131,677 | +€92,432 | +235.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.