MODESTO & FILS: 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.
MODESTO & FILS
Largest movements
- Cash -€38,575
down €38,575 (-25.0%), from €154,321 to €115,746
mainly Advances received (-€58,420) and Trade debts (-€48,685)
- Tangible fixed assets -€10,130
down €10,130 (-32.7%), from €30,954 to €20,824
of which Furniture and vehicles: -€9,321
- Stocks and contracts +€7,447
up €7,447 (+24.7%), from €30,091 to €37,538
- Deferred charges and accrued income -€7,327
down €7,327 (-47.6%), from €15,379 to €8,052
- Receivables within one year -€4,778
down €4,778 (-3.1%), from €154,159 to €149,381
of which Other amounts receivable: -€6,823
- Profit (loss) carried forward +€59,655
up €59,655 (+346%), from €17,220 to €76,875
- Advances received -€58,420
down €58,420 (-46.6%), from €125,307 to €66,887
- Trade debts -€48,685
down €48,685 (-36.0%), from €135,232 to €86,547
- Tax, wage and social debts +€18,410
up €18,410 (+92.8%), from €19,846 to €38,256
of which Taxes: +€15,009
- Other debts -€17,753
down €17,753 (-72.8%), from €24,402 to €6,649
- Gross operating margin +€60,071
up €60,071 (+54.1%), from €111,035 to €171,106
- Staff costs +€40,955
up €40,955 (+90.9%), from €45,068 to €86,023
- Depreciation +€4,967
up €4,967 (+49.3%), from €10,076 to €15,043
- Taxes -€4,090
down €4,090 (-28.0%), from €14,603 to €10,513
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 | €384,904 | €331,541 | -€53,363 | -13.9% |
| Fixed assets | 21/28 | €30,954 | €20,824 | -€10,130 | -32.7% |
| Tangible fixed assets | 22/27 | €30,954 | €20,824 | -€10,130 | -32.7% |
| Plant, machinery and equipment | 23 | €1,868 | €1,701 | -€167 | -8.9% |
| Furniture and vehicles | 24 | €24,246 | €14,925 | -€9,321 | -38.4% |
| Other tangible fixed assets | 26 | €4,840 | €4,198 | -€642 | -13.3% |
| Current assets | 29/58 | €353,950 | €310,717 | -€43,233 | -12.2% |
| Stocks and contracts in progress | 3 | €30,091 | €37,538 | +€7,447 | +24.7% |
| Stocks | 30/36 | €30,091 | €37,538 | +€7,447 | +24.7% |
| Amounts receivable within one year | 40/41 | €154,159 | €149,381 | -€4,778 | -3.1% |
| Trade receivables | 40 | €142,893 | €144,938 | +€2,045 | +1.4% |
| Other amounts receivable | 41 | €11,266 | €4,443 | -€6,823 | -60.6% |
| Cash at bank and in hand | 54/58 | €154,321 | €115,746 | -€38,575 | -25.0% |
| Deferred charges and accrued income | 490/1 | €15,379 | €8,052 | -€7,327 | -47.6% |
| Total equity and liabilities | 10/49 | €384,904 | €331,541 | -€53,363 | -13.9% |
| Equity | 10/15 | €72,680 | €132,335 | +€59,655 | +82.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,860 | €36,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,220 | €76,875 | +€59,655 | +346% |
| Amounts payable | 17/49 | €312,224 | €199,206 | -€113,018 | -36.2% |
| Amounts payable within one year | 42/48 | €312,219 | €199,206 | -€113,013 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €3,432 | €867 | -€2,565 | -74.7% |
| Financial debts | 43 | €4,000 | - | -€4,000 | |
| Credit institutions | 430/8 | €4,000 | - | -€4,000 | |
| Trade debts | 44 | €135,232 | €86,547 | -€48,685 | -36.0% |
| Suppliers | 440/4 | €135,232 | €86,547 | -€48,685 | -36.0% |
| Advances received on contracts in progress | 46 | €125,307 | €66,887 | -€58,420 | -46.6% |
| Taxes, remuneration and social security | 45 | €19,846 | €38,256 | +€18,410 | +92.8% |
| Taxes | 450/3 | €10,600 | €25,609 | +€15,009 | +142% |
| Remuneration and social security | 454/9 | €9,246 | €12,647 | +€3,401 | +36.8% |
| Other amounts payable | 47/48 | €24,402 | €6,649 | -€17,753 | -72.8% |
| Accrued charges and deferred income | 492/3 | €5 | - | -€5 | |
| Remuneration, social security and pensions | 62 | €45,068 | €86,023 | +€40,955 | +90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,076 | €15,043 | +€4,967 | +49.3% |
| Other operating charges | 640/8 | €2,261 | €2,362 | +€101 | +4.5% |
| Gross operating margin | 9900 | €111,035 | €171,106 | +€60,071 | +54.1% |
| Operating profit (loss) | 9901 | €53,630 | €67,678 | +€14,048 | +26.2% |
| Financial income | 75/76B | €5,538 | €6,474 | +€936 | +16.9% |
| Recurring financial income | 75 | €5,538 | €6,474 | +€936 | +16.9% |
| Financial charges | 65/66B | €2,955 | €3,984 | +€1,029 | +34.8% |
| Recurring financial charges | 65 | €2,955 | €3,984 | +€1,029 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €56,213 | €70,168 | +€13,955 | +24.8% |
| Income taxes | 67/77 | €14,603 | €10,513 | -€4,090 | -28.0% |
| Profit (loss) for the period | 9904 | €41,610 | €59,655 | +€18,045 | +43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,610 | €59,655 | +€18,045 | +43.4% |
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 28 October 2026 via checked.be.