Modern Classic: 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.
Modern Classic
Largest movements
- Tangible fixed assets +€19,239
up €19,239 (+35.4%), from €54,400 to €73,638
of which Plant, machinery and equipment: +€34,980
- Cash +€2,866
up €2,866 (+11.8%), from €24,358 to €27,224
mainly Other debts (+€35,946) and Debts after one year (+€25,538)
- Receivables within one year +€1,385
up €1,385 (+12.9%), from €10,705 to €12,090
of which Trade receivables: +€2,116
- Other debts +€35,946
up €35,946 (+611%), from €5,887 to €41,833
- Reserves -€33,797
down €33,797 (-100%), from €33,797 to €0
- Debts after one year +€25,538
up €25,538 (+96.6%), from €26,435 to €51,973
- Tax, wage and social debts -€8,225
down €8,225 (-98.9%), from €8,316 to €92
- Current portion of long-term debt +€3,596
up €3,596 (+34.0%), from €10,588 to €14,185
- Gross operating margin +€18,024
up €18,024 (+77.2%), from €23,347 to €41,371
- Taxes +€2,930
up €2,930 (+188%), from €1,562 to €4,492
- Depreciation +€538
up €538 (+3.5%), from €15,572 to €16,110
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.
Derived cash bridge
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 | €91,180 | €114,425 | +€23,245 | +25.5% |
| Fixed assets | 21/28 | €54,400 | €73,638 | +€19,239 | +35.4% |
| Tangible fixed assets | 22/27 | €54,400 | €73,638 | +€19,239 | +35.4% |
| Plant, machinery and equipment | 23 | - | €34,980 | +€34,980 | |
| Furniture and vehicles | 24 | €43,248 | €30,392 | -€12,856 | -29.7% |
| Other tangible fixed assets | 26 | €11,151 | €8,266 | -€2,885 | -25.9% |
| Current assets | 29/58 | €36,781 | €40,787 | +€4,006 | +10.9% |
| Amounts receivable within one year | 40/41 | €10,705 | €12,090 | +€1,385 | +12.9% |
| Trade receivables | 40 | €8,113 | €10,229 | +€2,116 | +26.1% |
| Other amounts receivable | 41 | €2,592 | €1,861 | -€731 | -28.2% |
| Cash at bank and in hand | 54/58 | €24,358 | €27,224 | +€2,866 | +11.8% |
| Deferred charges and accrued income | 490/1 | €1,718 | €1,473 | -€245 | -14.3% |
| Total equity and liabilities | 10/49 | €91,180 | €114,425 | +€23,245 | +25.5% |
| Equity | 10/15 | €38,797 | €5,000 | -€33,797 | -87.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €33,797 | €0 | -€33,797 | -100% |
| Distributable reserves | 133 | €33,797 | €0 | -€33,797 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,384 | €109,425 | +€57,042 | +109% |
| Amounts payable after more than one year | 17 | €26,435 | €51,973 | +€25,538 | +96.6% |
| Financial debts | 170/4 | €26,435 | €51,973 | +€25,538 | +96.6% |
| Amounts payable within one year | 42/48 | €25,949 | €57,452 | +€31,503 | +121% |
| Current portion of amounts payable after more than one year | 42 | €10,588 | €14,185 | +€3,596 | +34.0% |
| Financial debts | 43 | - | €12 | +€12 | |
| Credit institutions | 430/8 | - | €12 | +€12 | |
| Trade debts | 44 | €1,157 | €1,331 | +€174 | +15.0% |
| Suppliers | 440/4 | €1,157 | €1,331 | +€174 | +15.0% |
| Taxes, remuneration and social security | 45 | €8,316 | €92 | -€8,225 | -98.9% |
| Taxes | 450/3 | €8,316 | €92 | -€8,225 | -98.9% |
| Other amounts payable | 47/48 | €5,887 | €41,833 | +€35,946 | +611% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,572 | €16,110 | +€538 | +3.5% |
| Other operating charges | 640/8 | €163 | €331 | +€168 | +103% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €23,347 | €41,371 | +€18,024 | +77.2% |
| Operating profit (loss) | 9901 | €7,613 | €24,930 | +€17,318 | +227% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €928 | €1,061 | +€133 | +14.4% |
| Recurring financial charges | 65 | €928 | €1,061 | +€133 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €6,685 | €23,869 | +€17,185 | +257% |
| Income taxes | 67/77 | €1,562 | €4,492 | +€2,930 | +188% |
| Profit (loss) for the period | 9904 | €5,123 | €19,377 | +€14,254 | +278% |
| Profit (loss) for the period to be appropriated | 9905 | €5,123 | €19,377 | +€14,254 | +278% |
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 21 October 2026 via checked.be.