MODO: 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.
MODO
Largest movements
- Tangible fixed assets -€33,096
down €33,096 (-22.4%), from €147,989 to €114,892
of which Leasing and similar rights: -€20,332
- Stocks and contracts -€13,665
down €13,665 (-5.3%), from €259,934 to €246,270
- Cash +€8,861
up €8,861 (+20.1%), from €44,012 to €52,873
mainly Depreciation (+€34,268) and Stocks and contracts (+€13,665)
- Receivables within one year +€6,627
up €6,627 (+6,309%), from €105 to €6,732
of which Other amounts receivable: +€6,476
- Debts after one year -€30,892
down €30,892 (-24.5%), from €126,018 to €95,126
- Tax, wage and social debts -€9,343
down €9,343 (-31.2%), from €29,992 to €20,648
of which Taxes: -€8,989
- Other debts +€6,822
up €6,822 (+5.3%), from €128,388 to €135,210
- Gross operating margin -€26,489
down €26,489 (-24.9%), from €106,387 to €79,898
- Financial charges -€9,276
down €9,276 (-68.2%), from €13,595 to €4,319
- Taxes -€7,186
down €7,186 (-92.8%), from €7,742 to €556
- Depreciation +€5,073
up €5,073 (+17.4%), from €29,195 to €34,268
- Staff costs +€3,756
up €3,756 (+9.0%), from €41,572 to €45,328
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 | €455,151 | €424,038 | -€31,113 | -6.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €147,989 | €114,892 | -€33,096 | -22.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €147,989 | €114,892 | -€33,096 | -22.4% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €2,200 | €2,142 | -€58 | -2.6% |
| Leasing and similar rights | 25 | €86,330 | €65,997 | -€20,332 | -23.6% |
| Other tangible fixed assets | 26 | €59,459 | €46,753 | -€12,706 | -21.4% |
| Current assets | 29/58 | €307,162 | €309,146 | +€1,983 | +0.6% |
| Stocks and contracts in progress | 3 | €259,934 | €246,270 | -€13,665 | -5.3% |
| Stocks | 30/36 | €259,934 | €246,270 | -€13,665 | -5.3% |
| Amounts receivable within one year | 40/41 | €105 | €6,732 | +€6,627 | +6,309% |
| Trade receivables | 40 | - | €151 | +€151 | |
| Other amounts receivable | 41 | €105 | €6,581 | +€6,476 | +6,165% |
| Cash at bank and in hand | 54/58 | €44,012 | €52,873 | +€8,861 | +20.1% |
| Deferred charges and accrued income | 490/1 | €3,111 | €3,271 | +€160 | +5.1% |
| Total equity and liabilities | 10/49 | €455,151 | €424,038 | -€31,113 | -6.8% |
| Equity | 10/15 | €138,342 | €137,211 | -€1,131 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,742 | €119,742 | = | 0.0% |
| Distributable reserves | 133 | €119,742 | €119,742 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,131 | -€1,131 | |
| Amounts payable | 17/49 | €316,809 | €286,827 | -€29,982 | -9.5% |
| Amounts payable after more than one year | 17 | €126,018 | €95,126 | -€30,892 | -24.5% |
| Financial debts | 170/4 | €126,018 | €95,126 | -€30,892 | -24.5% |
| Amounts payable within one year | 42/48 | €190,791 | €191,702 | +€911 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €30,009 | €30,892 | +€883 | +2.9% |
| Trade debts | 44 | €2,402 | €4,951 | +€2,550 | +106% |
| Suppliers | 440/4 | €2,402 | €4,951 | +€2,550 | +106% |
| Taxes, remuneration and social security | 45 | €29,992 | €20,648 | -€9,343 | -31.2% |
| Taxes | 450/3 | €19,927 | €10,938 | -€8,989 | -45.1% |
| Remuneration and social security | 454/9 | €10,064 | €9,710 | -€354 | -3.5% |
| Other amounts payable | 47/48 | €128,388 | €135,210 | +€6,822 | +5.3% |
| Remuneration, social security and pensions | 62 | €41,572 | €45,328 | +€3,756 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,195 | €34,268 | +€5,073 | +17.4% |
| Other operating charges | 640/8 | €2,367 | €2,509 | +€142 | +6.0% |
| Gross operating margin | 9900 | €106,387 | €79,898 | -€26,489 | -24.9% |
| Operating profit (loss) | 9901 | €33,253 | -€2,207 | -€35,460 | |
| Financial income | 75/76B | €6,505 | €5,950 | -€554 | -8.5% |
| Recurring financial income | 75 | €6,505 | €5,950 | -€554 | -8.5% |
| Financial charges | 65/66B | €13,595 | €4,319 | -€9,276 | -68.2% |
| Recurring financial charges | 65 | €13,595 | €4,319 | -€9,276 | -68.2% |
| Profit (loss) for the period before taxes | 9903 | €26,163 | -€576 | -€26,739 | |
| Income taxes | 67/77 | €7,742 | €556 | -€7,186 | -92.8% |
| Profit (loss) for the period | 9904 | €18,421 | -€1,131 | -€19,553 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,421 | -€1,131 | -€19,553 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.