MODIM: 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.
MODIM
Largest movements
- Cash +€955,503
up €955,503 (+1,010%), from €94,577 to €1.1m
mainly Other debts (+€990,000) and Depreciation (+€34,106)
- Receivables within one year +€53,307
up €53,307 (+127%), from €42,051 to €95,358
of which Trade receivables: +€43,750
- Tangible fixed assets -€15,877
down €15,877 (-4.4%), from €362,994 to €347,117
of which Land and buildings: -€13,909
- Other debts +€990,000
up €990,000 (+50,832%), from €1,948 to €991,948
- Gross operating margin +€20,396
up €20,396 (+71.0%), from €28,710 to €49,106
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 | €500,015 | €1,493,876 | +€993,862 | +199% |
| Fixed assets | 21/28 | €363,139 | €347,262 | -€15,877 | -4.4% |
| Tangible fixed assets | 22/27 | €362,994 | €347,117 | -€15,877 | -4.4% |
| Land and buildings | 22 | €356,945 | €343,036 | -€13,909 | -3.9% |
| Plant, machinery and equipment | 23 | €3,992 | €2,488 | -€1,503 | -37.7% |
| Furniture and vehicles | 24 | €2,057 | €1,592 | -€465 | -22.6% |
| Financial fixed assets | 28 | €145 | €145 | = | 0.0% |
| Current assets | 29/58 | €136,876 | €1,146,615 | +€1.0m | +738% |
| Amounts receivable within one year | 40/41 | €42,051 | €95,358 | +€53,307 | +127% |
| Trade receivables | 40 | - | €43,750 | +€43,750 | |
| Other amounts receivable | 41 | €42,051 | €51,608 | +€9,557 | +22.7% |
| Cash at bank and in hand | 54/58 | €94,577 | €1,050,081 | +€955,503 | +1,010% |
| Deferred charges and accrued income | 490/1 | €247 | €1,176 | +€928 | +375% |
| Total equity and liabilities | 10/49 | €500,015 | €1,493,876 | +€993,862 | +199% |
| Equity | 10/15 | €494,744 | €501,270 | +€6,527 | +1.3% |
| Contributions | 10/11 | €593,592 | €593,592 | = | 0.0% |
| Reserves | 13 | €126,077 | €126,077 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,274 | €22,274 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,274 | €22,274 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,094 | €13,094 | = | 0.0% |
| Distributable reserves | 133 | €90,710 | €90,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€224,925 | -€218,399 | +€6,527 | +2.9% |
| Amounts payable | 17/49 | €5,271 | €992,606 | +€987,335 | +18,731% |
| Amounts payable within one year | 42/48 | €5,271 | €992,606 | +€987,335 | +18,731% |
| Trade debts | 44 | €2,956 | €659 | -€2,297 | -77.7% |
| Suppliers | 440/4 | €2,956 | €659 | -€2,297 | -77.7% |
| Taxes, remuneration and social security | 45 | €368 | - | -€368 | |
| Taxes | 450/3 | €368 | - | -€368 | |
| Other amounts payable | 47/48 | €1,948 | €991,948 | +€990,000 | +50,832% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,768 | €34,106 | +€337 | +1.0% |
| Other operating charges | 640/8 | €8,346 | €8,607 | +€261 | +3.1% |
| Gross operating margin | 9900 | €28,710 | €49,106 | +€20,396 | +71.0% |
| Operating profit (loss) | 9901 | -€13,405 | €6,393 | +€19,798 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €51 | €45 | -€6 | -10.9% |
| Recurring financial charges | 65 | €51 | €45 | -€6 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,455 | €6,348 | +€19,803 | |
| Income taxes | 67/77 | - | -€178 | -€178 | |
| Profit (loss) for the period | 9904 | -€13,455 | €6,527 | +€19,982 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,455 | €6,527 | +€19,982 |
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 20 October 2026 via checked.be.