MODERN SPACE CONSTRUCT: 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 SPACE CONSTRUCT
Largest movements
- Tangible fixed assets -€15,194
down €15,194 (-47.7%), from €31,861 to €16,668
of which Leasing and similar rights: -€16,564
- Cash +€9,501
up €9,501 (+458%), from €2,074 to €11,575
mainly Tax, wage and social debts (+€13,100) and Depreciation (+€11,163)
- Receivables within one year -€6,238
down €6,238 (-29.4%), from €21,250 to €15,012
of which Trade receivables: -€6,627
- Tax, wage and social debts +€13,100
up €13,100 (+285%), from €4,600 to €17,700
of which Remuneration and social security: +€13,100
- Trade debts -€10,250
down €10,250 (-57.8%), from €17,733 to €7,483
- Profit (loss) carried forward -€8,478
down €8,478 (-34.6%), from €24,494 to €16,016
- Current portion of long-term debt -€5,730
no longer reported in 2025 (was €5,730)
- Other debts -€629
down €629 (-49.1%), from €1,282 to €653
- Depreciation -€4,333
down €4,333 (-28.0%), from €15,497 to €11,163
- Gross operating margin -€4,148
down €4,148 (-30.9%), from €13,439 to €9,291
- Other operating charges +€1,995
up €1,995 (+104%), from €1,915 to €3,911
- Taxes +€800
up €800 (+54.7%), from €1,463 to €2,263
- Financial charges -€605
down €605 (-57.1%), from €1,061 to €456
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 | €55,839 | €43,852 | -€11,986 | -21.5% |
| Fixed assets | 21/28 | €31,861 | €16,668 | -€15,194 | -47.7% |
| Tangible fixed assets | 22/27 | €31,861 | €16,668 | -€15,194 | -47.7% |
| Plant, machinery and equipment | 23 | €884 | €396 | -€487 | -55.1% |
| Furniture and vehicles | 24 | €14,414 | €16,272 | +€1,858 | +12.9% |
| Leasing and similar rights | 25 | €16,564 | - | -€16,564 | |
| Current assets | 29/58 | €23,977 | €27,184 | +€3,207 | +13.4% |
| Amounts receivable within one year | 40/41 | €21,250 | €15,012 | -€6,238 | -29.4% |
| Trade receivables | 40 | €19,599 | €12,972 | -€6,627 | -33.8% |
| Other amounts receivable | 41 | €1,650 | €2,039 | +€389 | +23.6% |
| Cash at bank and in hand | 54/58 | €2,074 | €11,575 | +€9,501 | +458% |
| Deferred charges and accrued income | 490/1 | €653 | €598 | -€56 | -8.5% |
| Total equity and liabilities | 10/49 | €55,839 | €43,852 | -€11,986 | -21.5% |
| Equity | 10/15 | €26,494 | €18,016 | -€8,478 | -32.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,494 | €16,016 | -€8,478 | -34.6% |
| Amounts payable | 17/49 | €29,345 | €25,836 | -€3,509 | -12.0% |
| Amounts payable within one year | 42/48 | €29,345 | €25,836 | -€3,509 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €5,730 | - | -€5,730 | |
| Trade debts | 44 | €17,733 | €7,483 | -€10,250 | -57.8% |
| Suppliers | 440/4 | €17,733 | €7,483 | -€10,250 | -57.8% |
| Taxes, remuneration and social security | 45 | €4,600 | €17,700 | +€13,100 | +285% |
| Taxes | 450/3 | €600 | €600 | = | 0.0% |
| Remuneration and social security | 454/9 | €4,000 | €17,100 | +€13,100 | +328% |
| Other amounts payable | 47/48 | €1,282 | €653 | -€629 | -49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,497 | €11,163 | -€4,333 | -28.0% |
| Other operating charges | 640/8 | €1,915 | €3,911 | +€1,995 | +104% |
| Gross operating margin | 9900 | €13,439 | €9,291 | -€4,148 | -30.9% |
| Operating profit (loss) | 9901 | -€3,973 | -€5,783 | -€1,810 | -45.6% |
| Financial income | 75/76B | - | €24 | +€24 | |
| Recurring financial income | 75 | - | €24 | +€24 | |
| Financial charges | 65/66B | €1,061 | €456 | -€605 | -57.1% |
| Recurring financial charges | 65 | €1,061 | €456 | -€605 | -57.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,034 | -€6,215 | -€1,181 | -23.5% |
| Income taxes | 67/77 | €1,463 | €2,263 | +€800 | +54.7% |
| Profit (loss) for the period | 9904 | -€6,497 | -€8,478 | -€1,981 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,497 | -€8,478 | -€1,981 | -30.5% |
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 30 October 2026 via checked.be.