MODELKA: 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.
MODELKA
Largest movements
- Cash -€69,149
down €69,149 (-17.9%), from €387,270 to €318,121
mainly Trade debts (-€113,447) and Investment in fixed assets (net) (-€54,798)
- Tangible fixed assets +€15,379
up €15,379 (+26.3%), from €58,562 to €73,941
of which Furniture and vehicles: +€28,826
- Receivables within one year +€14,313
up €14,313 (+7.7%), from €185,600 to €199,914
of which Trade receivables: +€23,931
- Intangible fixed assets +€10,464
new in 2025: €10,464
- Deferred charges and accrued income +€6,479
up €6,479 (+185.0%), from €3,502 to €9,981
- Trade debts -€113,447
down €113,447 (-44.3%), from €255,818 to €142,371
- Reserves +€46,797
up €46,797 (+46.3%), from €101,150 to €147,947
- Accrued charges and deferred income +€25,000
new in 2025: €25,000
- Other debts +€22,094
up €22,094 (+11.1%), from €199,817 to €221,912
- Gross operating margin +€288,557
up €288,557 (+168.5%), from €171,243 to €459,799
- Staff costs +€278,016
up €278,016 (+309.8%), from €89,749 to €367,765
- Depreciation +€6,557
up €6,557 (+29.3%), from €22,397 to €28,955
- Financial income +€4,876
up €4,876 (+583.9%), from €835 to €5,712
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 | €634,934 | €612,421 | -€22,513 | -3.5% |
| Fixed assets | 21/28 | €58,562 | €84,405 | +€25,843 | +44.1% |
| Intangible fixed assets | 21 | - | €10,464 | +€10,464 | |
| Tangible fixed assets | 22/27 | €58,562 | €73,941 | +€15,379 | +26.3% |
| Plant, machinery and equipment | 23 | €37,053 | €32,472 | -€4,581 | -12.4% |
| Furniture and vehicles | 24 | €4,572 | €33,398 | +€28,826 | +630.5% |
| Leasing and similar rights | 25 | €14,647 | €6,241 | -€8,406 | -57.4% |
| Other tangible fixed assets | 26 | €2,291 | €1,831 | -€460 | -20.1% |
| Current assets | 29/58 | €576,372 | €528,016 | -€48,357 | -8.4% |
| Amounts receivable within one year | 40/41 | €185,600 | €199,914 | +€14,313 | +7.7% |
| Trade receivables | 40 | €164,698 | €188,629 | +€23,931 | +14.5% |
| Other amounts receivable | 41 | €20,903 | €11,285 | -€9,618 | -46.0% |
| Cash at bank and in hand | 54/58 | €387,270 | €318,121 | -€69,149 | -17.9% |
| Deferred charges and accrued income | 490/1 | €3,502 | €9,981 | +€6,479 | +185.0% |
| Total equity and liabilities | 10/49 | €634,934 | €612,421 | -€22,513 | -3.5% |
| Equity | 10/15 | €126,150 | €172,947 | +€46,797 | +37.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €101,150 | €147,947 | +€46,797 | +46.3% |
| Distributable reserves | 133 | €101,150 | €147,947 | +€46,797 | +46.3% |
| Amounts payable | 17/49 | €508,785 | €439,474 | -€69,311 | -13.6% |
| Amounts payable within one year | 42/48 | €508,785 | €414,474 | -€94,311 | -18.5% |
| Trade debts | 44 | €255,818 | €142,371 | -€113,447 | -44.3% |
| Suppliers | 440/4 | €255,818 | €142,371 | -€113,447 | -44.3% |
| Taxes, remuneration and social security | 45 | €53,150 | €50,192 | -€2,958 | -5.6% |
| Taxes | 450/3 | €48,151 | €33,335 | -€14,815 | -30.8% |
| Remuneration and social security | 454/9 | €4,999 | €16,856 | +€11,857 | +237.2% |
| Other amounts payable | 47/48 | €199,817 | €221,912 | +€22,094 | +11.1% |
| Accrued charges and deferred income | 492/3 | - | €25,000 | +€25,000 | |
| Remuneration, social security and pensions | 62 | €89,749 | €367,765 | +€278,016 | +309.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,397 | €28,955 | +€6,557 | +29.3% |
| Other operating charges | 640/8 | €2,085 | €2,485 | +€400 | +19.2% |
| Gross operating margin | 9900 | €171,243 | €459,799 | +€288,557 | +168.5% |
| Operating profit (loss) | 9901 | €57,011 | €60,594 | +€3,582 | +6.3% |
| Financial income | 75/76B | €835 | €5,712 | +€4,876 | +583.9% |
| Recurring financial income | 75 | €835 | €5,712 | +€4,876 | +583.9% |
| Financial charges | 65/66B | €4,284 | €2,558 | -€1,725 | -40.3% |
| Recurring financial charges | 65 | €4,284 | €2,558 | -€1,725 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €53,563 | €63,747 | +€10,184 | +19.0% |
| Income taxes | 67/77 | €13,651 | €16,950 | +€3,298 | +24.2% |
| Profit (loss) for the period | 9904 | €39,912 | €46,797 | +€6,886 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,912 | €46,797 | +€6,886 | +17.3% |
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 9 October 2026 via checked.be.