MODESTA: 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.
MODESTA
Largest movements
- Stocks and contracts -€24,944
down €24,944 (-15.6%), from €160,219 to €135,275
- Receivables within one year +€21,985
up €21,985 (+176%), from €12,511 to €34,496
of which Trade receivables: +€29,271
- Tangible fixed assets -€21,107
down €21,107 (-9.6%), from €219,517 to €198,410
of which Land and buildings: -€20,706
- Debts after one year -€31,677
down €31,677 (-18.1%), from €174,536 to €142,859
of which Financial debts: -€23,177
- Trade debts -€11,342
down €11,342 (-22.7%), from €50,037 to €38,695
- Reserves +€9,278
up €9,278 (+474%), from €1,959 to €11,237
- Other debts +€6,480
up €6,480 (+81.0%), from €8,002 to €14,482
- Gross operating margin -€5,492
down €5,492 (-13.3%), from €41,311 to €35,819
- Taxes +€3,759
up €3,759 (+1,919%), from €196 to €3,955
- Financial income +€3,286
up €3,286 (+87.2%), from €3,769 to €7,055
- Financial charges +€1,656
up €1,656 (+25.0%), from €6,625 to €8,280
- Other operating charges +€1,610
up €1,610 (+91.5%), from €1,760 to €3,371
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 | €401,381 | €378,206 | -€23,175 | -5.8% |
| Fixed assets | 21/28 | €219,612 | €198,506 | -€21,107 | -9.6% |
| Tangible fixed assets | 22/27 | €219,517 | €198,410 | -€21,107 | -9.6% |
| Land and buildings | 22 | €218,797 | €198,092 | -€20,706 | -9.5% |
| Plant, machinery and equipment | 23 | €79 | €0 | -€79 | -100% |
| Furniture and vehicles | 24 | €640 | €318 | -€321 | -50.2% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €181,769 | €179,700 | -€2,069 | -1.1% |
| Stocks and contracts in progress | 3 | €160,219 | €135,275 | -€24,944 | -15.6% |
| Stocks | 30/36 | €160,219 | €135,275 | -€24,944 | -15.6% |
| Amounts receivable within one year | 40/41 | €12,511 | €34,496 | +€21,985 | +176% |
| Trade receivables | 40 | €5,225 | €34,496 | +€29,271 | +560% |
| Other amounts receivable | 41 | €7,286 | €0 | -€7,286 | -100% |
| Cash at bank and in hand | 54/58 | €8,986 | €9,929 | +€943 | +10.5% |
| Deferred charges and accrued income | 490/1 | €53 | €0 | -€53 | -100% |
| Total equity and liabilities | 10/49 | €401,381 | €378,206 | -€23,175 | -5.8% |
| Equity | 10/15 | €131,959 | €141,237 | +€9,278 | +7.0% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €1,959 | €11,237 | +€9,278 | +474% |
| Distributable reserves | 133 | €1,959 | €11,237 | +€9,278 | +474% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €269,422 | €236,969 | -€32,453 | -12.0% |
| Amounts payable after more than one year | 17 | €174,536 | €142,859 | -€31,677 | -18.1% |
| Financial debts | 170/4 | €151,536 | €128,359 | -€23,177 | -15.3% |
| Other amounts payable | 178/9 | €23,000 | €14,500 | -€8,500 | -37.0% |
| Amounts payable within one year | 42/48 | €94,886 | €94,054 | -€831 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €28,493 | €29,696 | +€1,203 | +4.2% |
| Trade debts | 44 | €50,037 | €38,695 | -€11,342 | -22.7% |
| Suppliers | 440/4 | €50,037 | €38,695 | -€11,342 | -22.7% |
| Taxes, remuneration and social security | 45 | €8,354 | €11,182 | +€2,828 | +33.9% |
| Taxes | 450/3 | €8,354 | €11,182 | +€2,828 | +33.9% |
| Other amounts payable | 47/48 | €8,002 | €14,482 | +€6,480 | +81.0% |
| Accrued charges and deferred income | 492/3 | - | €55 | +€55 | |
| Remuneration, social security and pensions | 62 | €489 | €0 | -€489 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,497 | €21,107 | +€609 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,033 | -€3,117 | +€916 | +22.7% |
| Other operating charges | 640/8 | €1,760 | €3,371 | +€1,610 | +91.5% |
| Gross operating margin | 9900 | €41,311 | €35,819 | -€5,492 | -13.3% |
| Operating profit (loss) | 9901 | €22,597 | €14,459 | -€8,138 | -36.0% |
| Financial income | 75/76B | €3,769 | €7,055 | +€3,286 | +87.2% |
| Recurring financial income | 75 | €3,769 | €7,055 | +€3,286 | +87.2% |
| Financial charges | 65/66B | €6,625 | €8,280 | +€1,656 | +25.0% |
| Recurring financial charges | 65 | €6,625 | €8,280 | +€1,656 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €19,741 | €13,233 | -€6,508 | -33.0% |
| Income taxes | 67/77 | €196 | €3,955 | +€3,759 | +1,919% |
| Profit (loss) for the period | 9904 | €19,545 | €9,278 | -€10,267 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,545 | €9,278 | -€10,267 | -52.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.