MODERO LIEGE: 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.
MODERO LIEGE
Largest movements
- Cash -€545,893
down €545,893 (-94.3%), from €579,039 to €33,146
mainly Other debts (-€505,927) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€13,961
up €13,961 (+2.1%), from €676,579 to €690,540
of which Other amounts receivable: +€30,000
- Other debts -€505,927
down €505,927 (-98.8%), from €512,197 to €6,270
- Trade debts +€63,834
up €63,834 (+110%), from €58,142 to €121,976
- Reserves -€53,029
down €53,029 (-8.7%), from €606,555 to €553,526
- Tax, wage and social debts -€23,126
down €23,126 (-29.4%), from €78,752 to €55,626
of which Taxes: -€32,779
- Gross operating margin -€198,905
down €198,905 (-38.3%), from €519,655 to €320,750
- Taxes -€61,582
down €61,582 (-73.8%), from €83,500 to €21,918
- Staff costs +€46,439
up €46,439 (+23.7%), from €196,292 to €242,731
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 | €1,274,246 | €755,998 | -€518,248 | -40.7% |
| Fixed assets | 21/28 | €17,684 | €31,290 | +€13,606 | +76.9% |
| Intangible fixed assets | 21 | - | €1,422 | +€1,422 | |
| Tangible fixed assets | 22/27 | €17,484 | €29,668 | +€12,184 | +69.7% |
| Plant, machinery and equipment | 23 | €17,484 | €22,131 | +€4,647 | +26.6% |
| Furniture and vehicles | 24 | - | €7,537 | +€7,537 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €1,256,562 | €724,708 | -€531,854 | -42.3% |
| Amounts receivable within one year | 40/41 | €676,579 | €690,540 | +€13,961 | +2.1% |
| Trade receivables | 40 | €676,579 | €660,540 | -€16,039 | -2.4% |
| Other amounts receivable | 41 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €579,039 | €33,146 | -€545,893 | -94.3% |
| Deferred charges and accrued income | 490/1 | €944 | €1,022 | +€78 | +8.3% |
| Total equity and liabilities | 10/49 | €1,274,246 | €755,998 | -€518,248 | -40.7% |
| Equity | 10/15 | €625,155 | €572,126 | -€53,029 | -8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €606,555 | €553,526 | -€53,029 | -8.7% |
| Distributable reserves | 133 | €606,555 | €553,526 | -€53,029 | -8.7% |
| Amounts payable | 17/49 | €649,091 | €183,872 | -€465,219 | -71.7% |
| Amounts payable within one year | 42/48 | €649,091 | €183,872 | -€465,219 | -71.7% |
| Trade debts | 44 | €58,142 | €121,976 | +€63,834 | +110% |
| Suppliers | 440/4 | €58,142 | €121,976 | +€63,834 | +110% |
| Taxes, remuneration and social security | 45 | €78,752 | €55,626 | -€23,126 | -29.4% |
| Taxes | 450/3 | €55,413 | €22,634 | -€32,779 | -59.2% |
| Remuneration and social security | 454/9 | €23,339 | €32,992 | +€9,653 | +41.4% |
| Other amounts payable | 47/48 | €512,197 | €6,270 | -€505,927 | -98.8% |
| Non-recurring operating income | 76A | - | €15 | +€15 | |
| Remuneration, social security and pensions | 62 | €196,292 | €242,731 | +€46,439 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,859 | €7,477 | +€2,618 | +53.9% |
| Other operating charges | 640/8 | €220 | €634 | +€414 | +188% |
| Non-recurring operating charges | 66A | €296 | - | -€296 | |
| Gross operating margin | 9900 | €519,655 | €320,750 | -€198,905 | -38.3% |
| Operating profit (loss) | 9901 | €317,988 | €69,908 | -€248,080 | -78.0% |
| Financial charges | 65/66B | €1,110 | €1,019 | -€91 | -8.2% |
| Recurring financial charges | 65 | €1,110 | €1,019 | -€91 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €316,878 | €68,889 | -€247,989 | -78.3% |
| Income taxes | 67/77 | €83,500 | €21,918 | -€61,582 | -73.8% |
| Profit (loss) for the period | 9904 | €233,378 | €46,971 | -€186,407 | -79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €233,378 | €46,971 | -€186,407 | -79.9% |
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 26 October 2026 via checked.be.