MODIMAR: 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.
MODIMAR
Largest movements
- Cash +€188,558
up €188,558 (+720.0%), from €26,190 to €214,748
mainly Net result for the year (+€96,104) and Receivables within one year (+€49,677)
- Receivables within one year -€49,677
down €49,677 (-87.5%), from €56,801 to €7,124
of which Other amounts receivable: -€43,264
- Profit (loss) carried forward +€72,704
up €72,704, from -€38,286 to €34,418
- Tax, wage and social debts +€47,407
up €47,407 (+2645.6%), from €1,792 to €49,199
of which Taxes: +€45,587
- Trade debts +€20,602
up €20,602 (+811.9%), from €2,537 to €23,140
- Other debts -€4,094
down €4,094 (-1.5%), from €272,127 to €268,033
- Gross operating margin +€128,087
up €128,087 (+315.4%), from €40,617 to €168,704
- Taxes +€41,180
new in 2025: €41,180
- Financial charges +€9,133
up €9,133 (+2087.8%), from €437 to €9,571
- Other operating charges -€4,524
down €4,524 (-18.8%), from €24,112 to €19,587
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.
Cash bridge derived
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 | €261,221 | €397,840 | +€136,619 | +52.3% |
| Fixed assets | 21/28 | €178,229 | €175,967 | -€2,262 | -1.3% |
| Tangible fixed assets | 22/27 | €178,229 | €175,967 | -€2,262 | -1.3% |
| Land and buildings | 22 | €178,229 | €175,967 | -€2,262 | -1.3% |
| Current assets | 29/58 | €82,991 | €221,873 | +€138,881 | +167.3% |
| Amounts receivable within one year | 40/41 | €56,801 | €7,124 | -€49,677 | -87.5% |
| Trade receivables | 40 | €6,413 | - | -€6,413 | |
| Other amounts receivable | 41 | €50,388 | €7,124 | -€43,264 | -85.9% |
| Cash at bank and in hand | 54/58 | €26,190 | €214,748 | +€188,558 | +720.0% |
| Total equity and liabilities | 10/49 | €261,221 | €397,840 | +€136,619 | +52.3% |
| Equity | 10/15 | -€15,236 | €57,468 | +€72,704 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,450 | €4,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,350 | €1,350 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,350 | €1,350 | = | 0.0% |
| Distributable reserves | 133 | €3,100 | €3,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,286 | €34,418 | +€72,704 | |
| Amounts payable | 17/49 | €276,456 | €340,372 | +€63,915 | +23.1% |
| Amounts payable within one year | 42/48 | €276,456 | €340,372 | +€63,915 | +23.1% |
| Trade debts | 44 | €2,537 | €23,140 | +€20,602 | +811.9% |
| Suppliers | 440/4 | €2,537 | €23,140 | +€20,602 | +811.9% |
| Taxes, remuneration and social security | 45 | €1,792 | €49,199 | +€47,407 | +2645.6% |
| Taxes | 450/3 | - | €45,587 | +€45,587 | |
| Remuneration and social security | 454/9 | €1,792 | €3,612 | +€1,820 | +101.6% |
| Other amounts payable | 47/48 | €272,127 | €268,033 | -€4,094 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,262 | €2,262 | = | 0.0% |
| Other operating charges | 640/8 | €24,112 | €19,587 | -€4,524 | -18.8% |
| Gross operating margin | 9900 | €40,617 | €168,704 | +€128,087 | +315.4% |
| Operating profit (loss) | 9901 | €14,243 | €146,855 | +€132,612 | +931.1% |
| Financial income | 75/76B | €66 | - | -€66 | |
| Recurring financial income | 75 | €66 | - | -€66 | |
| Financial charges | 65/66B | €437 | €9,571 | +€9,133 | +2087.8% |
| Recurring financial charges | 65 | €437 | €9,571 | +€9,133 | +2087.8% |
| Profit (loss) for the period before taxes | 9903 | €13,872 | €137,284 | +€123,412 | +889.7% |
| Income taxes | 67/77 | - | €41,180 | +€41,180 | |
| Profit (loss) for the period | 9904 | €13,872 | €96,104 | +€82,232 | +592.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,872 | €96,104 | +€82,232 | +592.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.