MODULAB: 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.
MODULAB
Largest movements
- Intangible fixed assets +€120,185
up €120,185 (+66.5%), from €180,664 to €300,848
- Receivables within one year -€96,950
down €96,950 (-93.1%), from €104,083 to €7,134
of which Trade receivables: -€103,504
- Cash -€75,665
down €75,665 (-80.4%), from €94,158 to €18,492
mainly Investment in fixed assets (net) (-€206,343) and Net result for the year (-€131,893)
- Tangible fixed assets -€8,345
down €8,345 (-21.1%), from €39,617 to €31,272
- Profit (loss) carried forward -€131,893
down €131,893 (-10.0%), from -€1.3m to -€1.5m
- Other debts +€66,912
up €66,912 (+4.8%), from €1.4m to €1.5m
- Gross operating margin -€176,764
down €176,764 (-84.2%), from €209,970 to €33,206
- Staff costs -€114,889
down €114,889 (-100.0%), from €114,889 to €0
- Depreciation +€40,912
up €40,912 (+76.3%), from €53,592 to €94,504
- Financial charges +€4,100
up €4,100 (+6.2%), from €65,649 to €69,750
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 | €419,288 | €357,746 | -€61,541 | -14.7% |
| Fixed assets | 21/28 | €220,281 | €332,120 | +€111,839 | +50.8% |
| Intangible fixed assets | 21 | €180,664 | €300,848 | +€120,185 | +66.5% |
| Tangible fixed assets | 22/27 | €39,617 | €31,272 | -€8,345 | -21.1% |
| Plant, machinery and equipment | 23 | €39,617 | €31,272 | -€8,345 | -21.1% |
| Current assets | 29/58 | €199,007 | €25,626 | -€173,381 | -87.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €104,083 | €7,134 | -€96,950 | -93.1% |
| Trade receivables | 40 | €104,083 | €580 | -€103,504 | -99.4% |
| Other amounts receivable | 41 | €0 | €6,554 | +€6,554 | |
| Cash at bank and in hand | 54/58 | €94,158 | €18,492 | -€75,665 | -80.4% |
| Deferred charges and accrued income | 490/1 | €766 | €0 | -€766 | -100.0% |
| Total equity and liabilities | 10/49 | €419,288 | €357,746 | -€61,541 | -14.7% |
| Equity | 10/15 | -€1,023,278 | -€1,155,172 | -€131,893 | -12.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,323,278 | -€1,455,172 | -€131,893 | -10.0% |
| Amounts payable | 17/49 | €1,442,566 | €1,512,918 | +€70,352 | +4.9% |
| Amounts payable within one year | 42/48 | €1,442,566 | €1,512,918 | +€70,352 | +4.9% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €43,675 | €47,745 | +€4,070 | +9.3% |
| Suppliers | 440/4 | €43,675 | €47,745 | +€4,070 | +9.3% |
| Taxes, remuneration and social security | 45 | €898 | €269 | -€630 | -70.1% |
| Taxes | 450/3 | €898 | €269 | -€630 | -70.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,397,992 | €1,464,904 | +€66,912 | +4.8% |
| Non-recurring operating income | 76A | - | €389 | +€389 | |
| Remuneration, social security and pensions | 62 | €114,889 | €0 | -€114,889 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,592 | €94,504 | +€40,912 | +76.3% |
| Other operating charges | 640/8 | €518 | €847 | +€329 | +63.6% |
| Gross operating margin | 9900 | €209,970 | €33,206 | -€176,764 | -84.2% |
| Operating profit (loss) | 9901 | €40,971 | -€62,145 | -€103,116 | |
| Financial charges | 65/66B | €65,649 | €69,750 | +€4,100 | +6.2% |
| Recurring financial charges | 65 | €65,649 | €69,750 | +€4,100 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | -€24,678 | -€131,895 | -€107,216 | -434.5% |
| Income taxes | 67/77 | €270 | -€1 | -€271 | |
| Profit (loss) for the period | 9904 | -€24,948 | -€131,893 | -€106,945 | -428.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,948 | -€131,893 | -€106,945 | -428.7% |
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 12 October 2026 via checked.be.