MODULART: 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.
What changed
MODULART
NACE 23.610, Manufacture of other non-metallic mineral products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€130,312
2024 · €87,140+€43,172
Equity
€2.5m
2024 · €2.5m+€70,312
Cash
€1.6m
2024 · €272,040+€1.3m
Balance sheet total
€8.9m
2024 · €7.0m+€2.0m
Largest movements
Assets
- Cash +€1.3m
up €1.3m (+487.5%), from €272,040 to €1.6m
mainly Trade debts (+€668,299) and Short-term financial debts (+€553,000)
- Stocks and contracts +€781,329
up €781,329 (+23.5%), from €3.3m to €4.1m
- Receivables within one year -€177,826
down €177,826 (-8.6%), from €2.1m to €1.9m
of which Other amounts receivable: -€148,232
Equity and liabilities
- Trade debts +€668,299
up €668,299 (+31.6%), from €2.1m to €2.8m
- Short-term financial debts +€553,000
up €553,000 (+50.1%), from €1.1m to €1.7m
- Advances received +€498,325
new in 2025: €498,325
- Tax, wage and social debts +€372,002
up €372,002 (+101.2%), from €367,497 to €739,498
of which Taxes: +€359,226
- Profit (loss) carried forward +€130,312
up €130,312 (+8.6%), from €1.5m to €1.6m
Income statement
- Goods and materials +€2.1m
up €2.1m (+20.0%), from €10.4m to €12.4m
of which Purchases: +€1.5m
- Turnover -€1.2m
down €1.2m (-8.2%), from €14.4m to €13.2m
- Services and other goods -€164,940
down €164,940 (-12.8%), from €1.3m to €1.1m
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.
Result 2024
€87,140
Turnover
-€1.2m
Other operating income
+€75,434
Goods and materials
-€2.1m
Services and other goods
+€164,940
Staff costs
-€129,916
Depreciation
+€3,790
Write-downs
-€15,653
Provisions
+€34,765
Other operating charges
+€6,254
Other operating items
+€3.1m
Financial income
+€52,173
Financial charges
+€40,656
Taxes
+€8,588
Result 2025
€130,312
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.
From operations
+€1.2m
Investment
-€323,503
Financing
+€411,796
Cash 2024
€272,040
From operations (derived)
+€1.2m
Net result for the year
+€130,312
Depreciation
+€257,024
Stocks and contracts
-€781,329
Receivables within one year
+€177,826
Deferred charges and accrued income
+€2,247
Provisions
-€5,637
Trade debts
+€668,299
Tax, wage and social debts
+€372,002
Advances received
+€498,325
Other debts
-€2,365
Accrued charges and deferred income
-€78,852
Investment (derived)
-€323,503
Investment in fixed assets (net)
-€323,503
Financing
+€411,796
Debts after one year
-€49,097
Current portion of long-term debt
-€32,108
Short-term financial debts
+€553,000
Contributions, distributions and other
-€60,000
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,950,160 | €8,944,041 | +€2.0m | +28.7% |
| Fixed assets | 21/28 | €1,197,210 | €1,263,688 | +€66,479 | +5.6% |
| Intangible fixed assets | 21 | €4,157 | €7,836 | +€3,678 | +88.5% |
| Tangible fixed assets | 22/27 | €1,163,821 | €1,224,121 | +€60,300 | +5.2% |
| Land and buildings | 22 | €428,869 | €746,769 | +€317,900 | +74.1% |
| Plant, machinery and equipment | 23 | €276,506 | €286,760 | +€10,253 | +3.7% |
| Furniture and vehicles | 24 | €64,239 | €58,222 | -€6,017 | -9.4% |
| Leasing and similar rights | 25 | €394,206 | €132,370 | -€261,836 | -66.4% |
| Financial fixed assets | 28 | €29,232 | €31,732 | +€2,500 | +8.6% |
| Other financial fixed assets | 284/8 | €29,232 | €31,732 | +€2,500 | +8.6% |
| Amounts receivable and cash guarantees | 285/8 | €29,232 | €31,732 | +€2,500 | +8.6% |
| Current assets | 29/58 | €5,752,950 | €7,680,352 | +€1.9m | +33.5% |
| Stocks and contracts in progress | 3 | €3,323,922 | €4,105,251 | +€781,329 | +23.5% |
| Stocks | 30/36 | €3,323,922 | €4,105,251 | +€781,329 | +23.5% |
| Raw materials and consumables | 30/31 | €359,733 | €367,066 | +€7,333 | +2.0% |
| Work in progress | 32 | €1,573,423 | €3,720,297 | +€2.1m | +136.4% |
| Property held for sale | 35 | €1,390,766 | €17,888 | -€1.4m | -98.7% |
| Amounts receivable within one year | 40/41 | €2,064,133 | €1,886,307 | -€177,826 | -8.6% |
| Trade receivables | 40 | €1,827,020 | €1,797,426 | -€29,594 | -1.6% |
| Other amounts receivable | 41 | €237,114 | €88,881 | -€148,232 | -62.5% |
| Cash at bank and in hand | 54/58 | €272,040 | €1,598,186 | +€1.3m | +487.5% |
| Deferred charges and accrued income | 490/1 | €92,855 | €90,608 | -€2,247 | -2.4% |
| Total equity and liabilities | 10/49 | €6,950,160 | €8,944,041 | +€2.0m | +28.7% |
| Equity | 10/15 | €2,453,066 | €2,523,379 | +€70,312 | +2.9% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €80,000 | €80,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €80,000 | €80,000 | = | 0.0% |
| Legal reserve | 130 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,513,066 | €1,643,379 | +€130,312 | +8.6% |
| Investment grants | 15 | €60,000 | - | -€60,000 | |
| Provisions and deferred taxes | 16 | €282,718 | €277,081 | -€5,637 | -2.0% |
| Provisions for liabilities and charges | 160/5 | €282,718 | €277,081 | -€5,637 | -2.0% |
| Other liabilities and charges | 164/5 | €282,718 | €277,081 | -€5,637 | -2.0% |
| Amounts payable | 17/49 | €4,214,376 | €6,143,581 | +€1.9m | +45.8% |
| Amounts payable after more than one year | 17 | €320,305 | €271,208 | -€49,097 | -15.3% |
| Financial debts | 170/4 | €320,305 | €271,208 | -€49,097 | -15.3% |
| Leasing and similar obligations | 172 | €108,240 | €86,598 | -€21,642 | -20.0% |
| Credit institutions | 173 | €212,065 | €184,610 | -€27,455 | -12.9% |
| Amounts payable within one year | 42/48 | €3,814,183 | €5,871,337 | +€2.1m | +53.9% |
| Current portion of amounts payable after more than one year | 42 | €158,823 | €126,715 | -€32,108 | -20.2% |
| Financial debts | 43 | €1,103,000 | €1,656,000 | +€553,000 | +50.1% |
| Credit institutions | 430/8 | €1,103,000 | €1,656,000 | +€553,000 | +50.1% |
| Trade debts | 44 | €2,115,958 | €2,784,256 | +€668,299 | +31.6% |
| Suppliers | 440/4 | €2,115,958 | €2,784,256 | +€668,299 | +31.6% |
| Advances received on contracts in progress | 46 | - | €498,325 | +€498,325 | |
| Taxes, remuneration and social security | 45 | €367,497 | €739,498 | +€372,002 | +101.2% |
| Taxes | 450/3 | €153,665 | €512,891 | +€359,226 | +233.8% |
| Remuneration and social security | 454/9 | €213,831 | €226,607 | +€12,776 | +6.0% |
| Other amounts payable | 47/48 | €68,906 | €66,541 | -€2,365 | -3.4% |
| Accrued charges and deferred income | 492/3 | €79,888 | €1,036 | -€78,852 | -98.7% |
| Operating income | 70/76A | €13,787,266 | €15,692,198 | +€1.9m | +13.8% |
| Turnover | 70 | €14,370,411 | €13,189,193 | -€1.2m | -8.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€678,691 | €2,146,874 | +€2.8m | |
| Other operating income | 74 | €95,547 | €170,980 | +€75,434 | +78.9% |
| Non-recurring operating income | 76A | - | €185,151 | +€185,151 | |
| Operating charges | 60/66A | €13,487,886 | €15,451,063 | +€2.0m | +14.6% |
| Goods for resale, raw materials and consumables | 60 | €10,367,073 | €12,440,935 | +€2.1m | +20.0% |
| Purchases | 600/8 | €9,545,028 | €11,075,390 | +€1.5m | +16.0% |
| Change in stocks: decrease (increase) | 609 | €822,045 | €1,365,545 | +€543,499 | +66.1% |
| Services and other goods | 61 | €1,293,572 | €1,128,632 | -€164,940 | -12.8% |
| Remuneration, social security and pensions | 62 | €1,449,563 | €1,579,479 | +€129,916 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260,815 | €257,024 | -€3,790 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,653 | - | +€15,653 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €29,128 | -€5,637 | -€34,765 | |
| Other operating charges | 640/8 | €56,883 | €50,629 | -€6,254 | -11.0% |
| Non-recurring operating charges | 66A | €46,505 | - | -€46,505 | |
| Operating profit (loss) | 9901 | €299,380 | €241,135 | -€58,245 | -19.5% |
| Financial income | 75/76B | €27,050 | €79,223 | +€52,173 | +192.9% |
| Recurring financial income | 75 | €27,050 | €79,223 | +€52,173 | +192.9% |
| Income from current assets | 751 | €5,518 | - | -€5,518 | |
| Other financial income | 752/9 | €21,531 | €79,223 | +€57,692 | +267.9% |
| Financial charges | 65/66B | €189,864 | €149,208 | -€40,656 | -21.4% |
| Recurring financial charges | 65 | €189,864 | €149,208 | -€40,656 | -21.4% |
| Debt charges | 650 | €121,405 | €99,084 | -€22,321 | -18.4% |
| Other financial charges | 652/9 | €68,459 | €50,124 | -€18,335 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €136,566 | €171,150 | +€34,584 | +25.3% |
| Income taxes | 67/77 | €49,426 | €40,837 | -€8,588 | -17.4% |
| Taxes | 670/3 | €49,426 | €40,837 | -€8,588 | -17.4% |
| Profit (loss) for the period | 9904 | €87,140 | €130,312 | +€43,172 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,140 | €130,312 | +€43,172 | +49.5% |
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 6 October 2026 via checked.be.