MODEP: 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.
MODEP
Largest movements
- Tangible fixed assets -€25,556
down €25,556 (-19.6%), from €130,239 to €104,683
of which Land and buildings: -€24,338
- Cash +€10,564
up €10,564 (+18.7%), from €56,621 to €67,185
mainly Net result for the year (+€36,467) and Investment in fixed assets (net) (+€13,621)
- Receivables within one year +€7,664
up €7,664 (+289.3%), from €2,649 to €10,312
- Debts after one year -€43,396
down €43,396 (-41.2%), from €105,450 to €62,054
- Reserves +€36,467
up €36,467 (+291.5%), from €12,508 to €48,976
of which Distributable reserves: +€36,467
- Gross operating margin +€35,506
up €35,506 (+101.6%), from €34,945 to €70,450
- Taxes +€14,985
up €14,985 (+637.4%), from €2,351 to €17,336
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 | €190,965 | €183,724 | -€7,241 | -3.8% |
| Fixed assets | 21/28 | €130,239 | €104,683 | -€25,556 | -19.6% |
| Tangible fixed assets | 22/27 | €130,239 | €104,683 | -€25,556 | -19.6% |
| Land and buildings | 22 | €127,609 | €103,272 | -€24,338 | -19.1% |
| Plant, machinery and equipment | 23 | €203 | €0 | -€203 | -100.0% |
| Furniture and vehicles | 24 | €2,427 | €1,411 | -€1,016 | -41.9% |
| Current assets | 29/58 | €60,727 | €79,041 | +€18,315 | +30.2% |
| Amounts receivable within one year | 40/41 | €2,649 | €10,312 | +€7,664 | +289.3% |
| Other amounts receivable | 41 | €2,649 | €10,312 | +€7,664 | +289.3% |
| Cash at bank and in hand | 54/58 | €56,621 | €67,185 | +€10,564 | +18.7% |
| Deferred charges and accrued income | 490/1 | €1,457 | €1,544 | +€87 | +6.0% |
| Total equity and liabilities | 10/49 | €190,965 | €183,724 | -€7,241 | -3.8% |
| Equity | 10/15 | €74,482 | €110,949 | +€36,467 | +49.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €12,508 | €48,976 | +€36,467 | +291.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €6,311 | €42,778 | +€36,467 | +577.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €8,151 | €8,151 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €8,151 | €8,151 | = | 0.0% |
| Major repairs and maintenance | 162 | €8,151 | €8,151 | = | 0.0% |
| Amounts payable | 17/49 | €108,332 | €64,624 | -€43,709 | -40.3% |
| Amounts payable after more than one year | 17 | €105,450 | €62,054 | -€43,396 | -41.2% |
| Financial debts | 170/4 | €105,450 | €62,054 | -€43,396 | -41.2% |
| Amounts payable within one year | 42/48 | €1,278 | €1,397 | +€119 | +9.3% |
| Trade debts | 44 | €164 | €208 | +€44 | +27.2% |
| Suppliers | 440/4 | €164 | €208 | +€44 | +27.2% |
| Taxes, remuneration and social security | 45 | €1,071 | €1,060 | -€10 | -1.0% |
| Taxes | 450/3 | €1,071 | €1,060 | -€10 | -1.0% |
| Other amounts payable | 47/48 | €44 | €129 | +€85 | +192.5% |
| Accrued charges and deferred income | 492/3 | €1,604 | €1,173 | -€431 | -26.9% |
| Non-recurring operating income | 76A | €11,849 | €0 | -€11,849 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,269 | €11,936 | +€667 | +5.9% |
| Other operating charges | 640/8 | €2,746 | €2,816 | +€69 | +2.5% |
| Gross operating margin | 9900 | €34,945 | €70,450 | +€35,506 | +101.6% |
| Operating profit (loss) | 9901 | €20,930 | €55,699 | +€34,769 | +166.1% |
| Financial charges | 65/66B | €2,452 | €1,895 | -€557 | -22.7% |
| Recurring financial charges | 65 | €2,452 | €1,895 | -€557 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €18,477 | €53,804 | +€35,327 | +191.2% |
| Income taxes | 67/77 | €2,351 | €17,336 | +€14,985 | +637.4% |
| Profit (loss) for the period | 9904 | €16,126 | €36,467 | +€20,341 | +126.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,126 | €36,467 | +€20,341 | +126.1% |
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.