Modern Shop: 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 Shop
Largest movements
- Receivables within one year +€45,348
up €45,348 (+27.6%), from €164,382 to €209,730
of which Trade receivables: +€23,415
- Tangible fixed assets -€25,249
down €25,249 (-7.5%), from €335,384 to €310,134
of which Land and buildings: -€19,277
- Cash -€7,591
down €7,591 (-9.7%), from €78,311 to €70,719
mainly Receivables within one year (-€45,348) and Contributions, distributions and other (-€33,000)
- Reserves +€54,807
up €54,807 (+28.9%), from €189,663 to €244,470
of which Distributable reserves: +€54,807
- Debts after one year -€22,573
down €22,573 (-12.3%), from €182,810 to €160,236
- Trade debts -€20,794
down €20,794 (-56.9%), from €36,515 to €15,722
- Tax, wage and social debts +€15,655
up €15,655 (+34.8%), from €44,986 to €60,641
of which Taxes: +€11,981
- Current portion of long-term debt -€14,843
down €14,843 (-29.1%), from €51,066 to €36,223
- Staff costs +€32,357
up €32,357 (+11.7%), from €276,143 to €308,501
- Taxes -€10,542
down €10,542 (-30.2%), from €34,876 to €24,334
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 | €583,640 | €595,892 | +€12,252 | +2.1% |
| Fixed assets | 21/28 | €335,384 | €310,134 | -€25,249 | -7.5% |
| Tangible fixed assets | 22/27 | €335,384 | €310,134 | -€25,249 | -7.5% |
| Land and buildings | 22 | €294,302 | €275,025 | -€19,277 | -6.6% |
| Plant, machinery and equipment | 23 | €26,128 | €23,852 | -€2,276 | -8.7% |
| Furniture and vehicles | 24 | €14,954 | €11,257 | -€3,696 | -24.7% |
| Current assets | 29/58 | €248,256 | €285,758 | +€37,502 | +15.1% |
| Amounts receivable within one year | 40/41 | €164,382 | €209,730 | +€45,348 | +27.6% |
| Trade receivables | 40 | €40,001 | €63,416 | +€23,415 | +58.5% |
| Other amounts receivable | 41 | €124,380 | €146,313 | +€21,933 | +17.6% |
| Cash at bank and in hand | 54/58 | €78,311 | €70,719 | -€7,591 | -9.7% |
| Deferred charges and accrued income | 490/1 | €5,564 | €5,309 | -€255 | -4.6% |
| Total equity and liabilities | 10/49 | €583,640 | €595,892 | +€12,252 | +2.1% |
| Equity | 10/15 | €268,263 | €323,070 | +€54,807 | +20.4% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Reserves | 13 | €189,663 | €244,470 | +€54,807 | +28.9% |
| Tax-exempt reserves | 132 | €27,056 | €27,056 | = | 0.0% |
| Distributable reserves | 133 | €162,607 | €217,415 | +€54,807 | +33.7% |
| Amounts payable | 17/49 | €315,376 | €272,821 | -€42,555 | -13.5% |
| Amounts payable after more than one year | 17 | €182,810 | €160,236 | -€22,573 | -12.3% |
| Financial debts | 170/4 | €182,810 | €160,236 | -€22,573 | -12.3% |
| Amounts payable within one year | 42/48 | €132,566 | €112,585 | -€19,982 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €51,066 | €36,223 | -€14,843 | -29.1% |
| Trade debts | 44 | €36,515 | €15,722 | -€20,794 | -56.9% |
| Suppliers | 440/4 | €36,515 | €15,722 | -€20,794 | -56.9% |
| Taxes, remuneration and social security | 45 | €44,986 | €60,641 | +€15,655 | +34.8% |
| Taxes | 450/3 | €14,946 | €26,927 | +€11,981 | +80.2% |
| Remuneration and social security | 454/9 | €30,040 | €33,714 | +€3,674 | +12.2% |
| Non-recurring operating income | 76A | - | €7,172 | +€7,172 | |
| Remuneration, social security and pensions | 62 | €276,143 | €308,501 | +€32,357 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,246 | €35,476 | -€770 | -2.1% |
| Other operating charges | 640/8 | €7,120 | €6,146 | -€974 | -13.7% |
| Gross operating margin | 9900 | €463,814 | €462,502 | -€1,312 | -0.3% |
| Operating profit (loss) | 9901 | €144,305 | €112,379 | -€31,926 | -22.1% |
| Financial income | 75/76B | €7,841 | €8,017 | +€176 | +2.2% |
| Recurring financial income | 75 | €7,841 | €8,017 | +€176 | +2.2% |
| Financial charges | 65/66B | €7,152 | €8,255 | +€1,103 | +15.4% |
| Recurring financial charges | 65 | €7,152 | €8,255 | +€1,103 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €144,994 | €112,141 | -€32,853 | -22.7% |
| Income taxes | 67/77 | €34,876 | €24,334 | -€10,542 | -30.2% |
| Profit (loss) for the period | 9904 | €110,118 | €87,807 | -€22,311 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €110,118 | €87,807 | -€22,311 | -20.3% |
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 13 October 2026 via checked.be.