MODINVEST: what changed
Two fiscal 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.
MODINVEST
Largest movements
- Current investments -€47,122
down €47,122 (-40.0%), from €117,952 to €70,830
- Cash +€30,533
up €30,533 (+30.5%), from €100,072 to €130,605
mainly Current investments (+€47,122) and Depreciation (+€36,378)
- Tangible fixed assets -€25,371
down €25,371 (-3.3%), from €762,825 to €737,454
of which Land and buildings: -€25,793
- Profit (loss) carried forward -€27,544
down €27,544 (-7.6%), from €360,801 to €333,257
- Current portion of long-term debt -€26,539
down €26,539 (-100.0%), from €26,539 to €0
- Other debts +€11,645
up €11,645 (+66.9%), from €17,400 to €29,045
- Financial income -€76,918
down €76,918 (-97.9%), from €78,571 to €1,652
- Gross operating margin +€7,356
up €7,356 (+18.4%), from €39,914 to €47,270
- Taxes -€4,233
down €4,233 (-42.3%), from €10,001 to €5,769
- Financial charges -€1,117
down €1,117 (-66.6%), from €1,676 to €559
- Depreciation -€633
down €633 (-1.7%), from €37,011 to €36,378
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 | €984,847 | €944,336 | -€40,510 | -4.1% |
| Fixed assets | 21/28 | €762,825 | €737,454 | -€25,371 | -3.3% |
| Tangible fixed assets | 22/27 | €762,825 | €737,454 | -€25,371 | -3.3% |
| Land and buildings | 22 | €718,821 | €693,028 | -€25,793 | -3.6% |
| Plant, machinery and equipment | 23 | €44,004 | €42,924 | -€1,079 | -2.5% |
| Furniture and vehicles | 24 | - | €1,501 | +€1,501 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €222,022 | €206,883 | -€15,139 | -6.8% |
| Amounts receivable within one year | 40/41 | €2,574 | €3,852 | +€1,278 | +49.6% |
| Trade receivables | 40 | - | €1,365 | +€1,365 | |
| Other amounts receivable | 41 | €2,574 | €2,487 | -€87 | -3.4% |
| Current investments | 50/53 | €117,952 | €70,830 | -€47,122 | -40.0% |
| Cash at bank and in hand | 54/58 | €100,072 | €130,605 | +€30,533 | +30.5% |
| Deferred charges and accrued income | 490/1 | €1,424 | €1,596 | +€172 | +12.1% |
| Total equity and liabilities | 10/49 | €984,847 | €944,336 | -€40,510 | -4.1% |
| Equity | 10/15 | €831,687 | €807,993 | -€23,693 | -2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €408,886 | €412,736 | +€3,850 | +0.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €204,686 | €196,536 | -€8,150 | -4.0% |
| Distributable reserves | 133 | €198,000 | €210,000 | +€12,000 | +6.1% |
| Profit (loss) carried forward | 14 | €360,801 | €333,257 | -€27,544 | -7.6% |
| Provisions and deferred taxes | 16 | €91,018 | €87,356 | -€3,661 | -4.0% |
| Deferred taxes | 168 | €91,018 | €87,356 | -€3,661 | -4.0% |
| Amounts payable | 17/49 | €62,142 | €48,987 | -€13,156 | -21.2% |
| Amounts payable after more than one year | 17 | €1,760 | €1,760 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €1,760 | €1,760 | = | 0.0% |
| Amounts payable within one year | 42/48 | €59,682 | €46,427 | -€13,255 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €26,539 | €0 | -€26,539 | -100.0% |
| Trade debts | 44 | €645 | €2,525 | +€1,879 | +291.1% |
| Suppliers | 440/4 | €645 | €2,525 | +€1,879 | +291.1% |
| Taxes, remuneration and social security | 45 | €15,098 | €14,858 | -€240 | -1.6% |
| Taxes | 450/3 | €15,098 | €14,858 | -€240 | -1.6% |
| Other amounts payable | 47/48 | €17,400 | €29,045 | +€11,645 | +66.9% |
| Accrued charges and deferred income | 492/3 | €700 | €800 | +€100 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,011 | €36,378 | -€633 | -1.7% |
| Other operating charges | 640/8 | €5,403 | €5,571 | +€168 | +3.1% |
| Gross operating margin | 9900 | €39,914 | €47,270 | +€7,356 | +18.4% |
| Operating profit (loss) | 9901 | -€2,500 | €5,321 | +€7,821 | |
| Financial income | 75/76B | €78,571 | €1,652 | -€76,918 | -97.9% |
| Recurring financial income | 75 | €78,571 | €1,652 | -€76,918 | -97.9% |
| Financial charges | 65/66B | €1,676 | €559 | -€1,117 | -66.6% |
| Recurring financial charges | 65 | €1,676 | €559 | -€1,117 | -66.6% |
| Profit (loss) for the period before taxes | 9903 | €74,395 | €6,414 | -€67,981 | -91.4% |
| Transfer from deferred taxes | 780 | €3,660 | €3,661 | +€1 | 0.0% |
| Income taxes | 67/77 | €10,001 | €5,769 | -€4,233 | -42.3% |
| Profit (loss) for the period | 9904 | €68,053 | €4,307 | -€63,747 | -93.7% |
| Transfer from tax-exempt reserves | 789 | €8,147 | €8,150 | +€3 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,200 | €12,456 | -€63,744 | -83.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.