MODERN: 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.
MODERN
Largest movements
- Receivables after one year +€16,653
up €16,653 (+10.8%), from €154,105 to €170,758
- Deferred charges and accrued income +€13,186
new in 2025: €13,186
- Receivables within one year -€8,173
down €8,173 (-96.0%), from €8,511 to €338
of which Other amounts receivable: -€8,511
- Cash -€6,054
down €6,054 (-27.2%), from €22,230 to €16,176
mainly Receivables after one year (-€16,653) and Deferred charges and accrued income (-€13,186)
- Stocks and contracts -€2,353
down €2,353 (-18.2%), from €12,928 to €10,575
- Tax, wage and social debts +€20,648
up €20,648 (+132.7%), from €15,555 to €36,203
of which Remuneration and social security: +€10,870
- Profit (loss) carried forward -€3,490
down €3,490 (-6.7%), from -€52,153 to -€55,643
- Trade debts -€3,185
down €3,185 (-11.3%), from €28,106 to €24,921
- Gross operating margin -€13,635
down €13,635 (-10.1%), from €134,919 to €121,284
- Purchases and services +€10,473
up €10,473 (+10.6%), from €98,426 to €108,899
- Staff costs -€9,392
down €9,392 (-7.5%), from €124,856 to €115,464
- Turnover -€3,161
down €3,161 (-1.4%), from €233,345 to €230,184
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 | €197,774 | €211,033 | +€13,259 | +6.7% |
| Current assets | 29/58 | €197,774 | €211,033 | +€13,259 | +6.7% |
| Amounts receivable after more than one year | 29 | €154,105 | €170,758 | +€16,653 | +10.8% |
| Other amounts receivable | 291 | €154,105 | €170,758 | +€16,653 | +10.8% |
| Stocks and contracts in progress | 3 | €12,928 | €10,575 | -€2,353 | -18.2% |
| Stocks | 30/36 | €12,928 | €10,575 | -€2,353 | -18.2% |
| Amounts receivable within one year | 40/41 | €8,511 | €338 | -€8,173 | -96.0% |
| Trade receivables | 40 | - | €338 | +€338 | |
| Other amounts receivable | 41 | €8,511 | - | -€8,511 | |
| Cash at bank and in hand | 54/58 | €22,230 | €16,176 | -€6,054 | -27.2% |
| Deferred charges and accrued income | 490/1 | - | €13,186 | +€13,186 | |
| Total equity and liabilities | 10/49 | €197,774 | €211,033 | +€13,259 | +6.7% |
| Equity | 10/15 | €153,387 | €149,897 | -€3,490 | -2.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €143,540 | €143,540 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €137,340 | €137,340 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,153 | -€55,643 | -€3,490 | -6.7% |
| Amounts payable | 17/49 | €44,387 | €61,136 | +€16,749 | +37.7% |
| Amounts payable after more than one year | 17 | €32 | €12 | -€20 | -62.5% |
| Financial debts | 170/4 | €32 | €12 | -€20 | -62.5% |
| Amounts payable within one year | 42/48 | €44,355 | €61,124 | +€16,769 | +37.8% |
| Financial debts | 43 | €694 | - | -€694 | |
| Credit institutions | 430/8 | €694 | - | -€694 | |
| Trade debts | 44 | €28,106 | €24,921 | -€3,185 | -11.3% |
| Suppliers | 440/4 | €28,106 | €24,921 | -€3,185 | -11.3% |
| Taxes, remuneration and social security | 45 | €15,555 | €36,203 | +€20,648 | +132.7% |
| Taxes | 450/3 | €11,108 | €20,886 | +€9,778 | +88.0% |
| Remuneration and social security | 454/9 | €4,447 | €15,317 | +€10,870 | +244.4% |
| Turnover | 70 | €233,345 | €230,184 | -€3,161 | -1.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €98,426 | €108,899 | +€10,473 | +10.6% |
| Remuneration, social security and pensions | 62 | €124,856 | €115,464 | -€9,392 | -7.5% |
| Other operating charges | 640/8 | €2,194 | €4,305 | +€2,111 | +96.2% |
| Gross operating margin | 9900 | €134,919 | €121,284 | -€13,635 | -10.1% |
| Operating profit (loss) | 9901 | €7,869 | €1,515 | -€6,354 | -80.7% |
| Financial charges | 65/66B | €2,100 | €1,585 | -€515 | -24.5% |
| Recurring financial charges | 65 | €2,100 | €1,585 | -€515 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €5,769 | -€70 | -€5,839 | |
| Income taxes | 67/77 | €2,000 | €3,420 | +€1,420 | +71.0% |
| Profit (loss) for the period | 9904 | €3,769 | -€3,490 | -€7,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,769 | -€3,490 | -€7,259 |
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 4 October 2026 via checked.be.