Modo Invest: what changed
What changed
Modo Invest
NACE 70.100, Activities of head offices
filed annual accounts (NBB)
Net result for the year
-€10,761
2024 · €225,272-€236,033
Equity
€318,504
2024 · €243,515+€74,989
Cash
-
2024 · €391-€391
Balance sheet total
€651,888
2024 · €594,994+€56,894
Largest movements
Assets
- Tangible fixed assets +€57,333
up €57,333 (+9.8%), from €583,647 to €640,980
Equity and liabilities
- Revaluation surpluses +€82,320
new in 2025: €82,320
- Debts after one year -€16,253
down €16,253 (-6.8%), from €239,695 to €223,442
of which Financial debts: -€13,351
Income statement
- Gross operating margin -€364,975
down €364,975 (-94.3%), from €387,106 to €22,130
- Depreciation -€29,399
down €29,399 (-50.8%), from €57,817 to €28,417
- Financial charges -€10,116
down €10,116 (-70.9%), from €14,266 to €4,150
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€225,272
Gross operating margin
-€364,975
Depreciation
+€29,399
Other operating charges
-€787
Financial charges
+€10,116
Deferred taxes and other
+€90,213
Result 2025
-€10,761
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€14,393
Investment
-€85,750
Financing
+€70,966
Cash 2024
€391
From operations (derived)
+€14,393
Net result for the year
-€10,761
Depreciation
+€28,417
Receivables within one year
-€300
Deferred charges and accrued income
+€348
Provisions
-€2,983
Trade debts
+€2,972
Other debts
+€450
Accrued charges and deferred income
-€3,750
Investment (derived)
-€85,750
Investment in fixed assets (net)
-€85,750
Financing
+€70,966
Debts after one year
-€16,253
Current portion of long-term debt
+€1,470
Contributions, distributions and other
+€85,750
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €594,994 | €651,888 | +€56,894 | +9.6% |
| Fixed assets | 21/28 | €591,647 | €648,980 | +€57,333 | +9.7% |
| Tangible fixed assets | 22/27 | €583,647 | €640,980 | +€57,333 | +9.8% |
| Land and buildings | 22 | €583,647 | €640,980 | +€57,333 | +9.8% |
| Financial fixed assets | 28 | €8,000 | €8,000 | = | 0.0% |
| Current assets | 29/58 | €3,347 | €2,909 | -€439 | -13.1% |
| Amounts receivable within one year | 40/41 | - | €300 | +€300 | |
| Other amounts receivable | 41 | - | €300 | +€300 | |
| Cash at bank and in hand | 54/58 | €391 | - | -€391 | |
| Deferred charges and accrued income | 490/1 | €2,957 | €2,609 | -€348 | -11.8% |
| Total equity and liabilities | 10/49 | €594,994 | €651,888 | +€56,894 | +9.6% |
| Equity | 10/15 | €243,515 | €318,504 | +€74,989 | +30.8% |
| Contributions | 10/11 | €62,040 | €62,040 | = | 0.0% |
| Capital | 10 | €62,040 | €62,040 | = | 0.0% |
| Issued capital | 100 | €62,040 | €62,040 | = | 0.0% |
| Revaluation surpluses | 12 | - | €82,320 | +€82,320 | |
| Reserves | 13 | €269,963 | €264,445 | -€5,518 | -2.0% |
| Non-distributable reserves | 130/1 | €414 | €414 | = | 0.0% |
| Legal reserve | 130 | €414 | €414 | = | 0.0% |
| Tax-exempt reserves | 132 | €261,692 | €252,744 | -€8,948 | -3.4% |
| Distributable reserves | 133 | €7,857 | €11,287 | +€3,430 | +43.7% |
| Profit (loss) carried forward | 14 | -€88,488 | -€90,302 | -€1,814 | -2.0% |
| Provisions and deferred taxes | 16 | €87,231 | €84,248 | -€2,983 | -3.4% |
| Deferred taxes | 168 | €87,231 | €84,248 | -€2,983 | -3.4% |
| Amounts payable | 17/49 | €264,249 | €249,137 | -€15,112 | -5.7% |
| Amounts payable after more than one year | 17 | €239,695 | €223,442 | -€16,253 | -6.8% |
| Financial debts | 170/4 | €124,502 | €111,152 | -€13,351 | -10.7% |
| Other amounts payable | 178/9 | €115,193 | €112,290 | -€2,903 | -2.5% |
| Amounts payable within one year | 42/48 | €20,554 | €25,445 | +€4,891 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €12,975 | €14,445 | +€1,470 | +11.3% |
| Financial debts | 43 | €2,000 | €2,000 | = | 0.0% |
| Other loans | 439 | €2,000 | €2,000 | = | 0.0% |
| Trade debts | 44 | €3,783 | €6,755 | +€2,972 | +78.6% |
| Suppliers | 440/4 | €3,783 | €6,755 | +€2,972 | +78.6% |
| Other amounts payable | 47/48 | €1,796 | €2,246 | +€450 | +25.1% |
| Accrued charges and deferred income | 492/3 | €4,000 | €250 | -€3,750 | -93.8% |
| Non-recurring operating income | 76A | €376,919 | - | -€376,919 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,817 | €28,417 | -€29,399 | -50.8% |
| Other operating charges | 640/8 | €2,520 | €3,307 | +€787 | +31.2% |
| Gross operating margin | 9900 | €387,106 | €22,130 | -€364,975 | -94.3% |
| Operating profit (loss) | 9901 | €326,769 | -€9,593 | -€336,363 | |
| Financial charges | 65/66B | €14,266 | €4,150 | -€10,116 | -70.9% |
| Recurring financial charges | 65 | €14,266 | €4,150 | -€10,116 | -70.9% |
| Profit (loss) for the period before taxes | 9903 | €312,503 | -€13,744 | -€326,247 | |
| Transfer from deferred taxes | 780 | €6,999 | €2,983 | -€4,017 | -57.4% |
| Transfer to deferred taxes | 680 | €94,230 | - | -€94,230 | |
| Profit (loss) for the period | 9904 | €225,272 | -€10,761 | -€236,033 | |
| Transfer from tax-exempt reserves | 789 | €20,997 | €8,948 | -€12,050 | -57.4% |
| Transfer to tax-exempt reserves | 689 | €282,689 | - | -€282,689 | |
| Profit (loss) for the period to be appropriated | 9905 | -€36,420 | -€1,814 | +€34,606 | +95.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.