MODULOR: 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.
MODULOR
Largest movements
- Cash +€200,153
up €200,153 (+26.5%), from €755,995 to €956,148
mainly Net result for the year (+€166,858) and Depreciation (+€83,303)
- Tangible fixed assets -€49,755
down €49,755 (-5.3%), from €940,744 to €890,989
of which Land and buildings: -€53,800
- Receivables within one year -€45,168
down €45,168 (-63.5%), from €71,075 to €25,908
of which Trade receivables: -€38,003
- Reserves +€129,740
up €129,740 (+21.6%), from €600,290 to €730,030
of which Distributable reserves: +€129,740
- Trade debts -€105,894
down €105,894 (-82.8%), from €127,949 to €22,055
- Other debts +€54,140
up €54,140 (+5.7%), from €948,248 to €1.0m
- Gross operating margin +€146,032
up €146,032 (+62.5%), from €233,747 to €379,779
- Taxes +€39,592
up €39,592 (+120.0%), from €33,002 to €72,594
- Financial charges +€16,817
up €16,817 (+46.9%), from €35,894 to €52,711
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,770,329 | €1,874,463 | +€104,134 | +5.9% |
| Fixed assets | 21/28 | €940,744 | €890,989 | -€49,755 | -5.3% |
| Tangible fixed assets | 22/27 | €940,744 | €890,989 | -€49,755 | -5.3% |
| Land and buildings | 22 | €932,466 | €878,665 | -€53,800 | -5.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €8,279 | €12,324 | +€4,045 | +48.9% |
| Current assets | 29/58 | €829,585 | €983,474 | +€153,889 | +18.6% |
| Amounts receivable within one year | 40/41 | €71,075 | €25,908 | -€45,168 | -63.5% |
| Trade receivables | 40 | €52,039 | €14,036 | -€38,003 | -73.0% |
| Other amounts receivable | 41 | €19,037 | €11,872 | -€7,165 | -37.6% |
| Cash at bank and in hand | 54/58 | €755,995 | €956,148 | +€200,153 | +26.5% |
| Deferred charges and accrued income | 490/1 | €2,514 | €1,418 | -€1,096 | -43.6% |
| Total equity and liabilities | 10/49 | €1,770,329 | €1,874,463 | +€104,134 | +5.9% |
| Equity | 10/15 | €653,879 | €783,619 | +€129,740 | +19.8% |
| Contributions | 10/11 | €53,589 | €53,589 | = | 0.0% |
| Reserves | 13 | €600,290 | €730,030 | +€129,740 | +21.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €600,290 | €730,030 | +€129,740 | +21.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,116,450 | €1,090,844 | -€25,606 | -2.3% |
| Amounts payable within one year | 42/48 | €1,080,058 | €1,037,083 | -€42,975 | -4.0% |
| Trade debts | 44 | €127,949 | €22,055 | -€105,894 | -82.8% |
| Suppliers | 440/4 | €127,949 | €22,055 | -€105,894 | -82.8% |
| Taxes, remuneration and social security | 45 | €3,861 | €12,640 | +€8,780 | +227.4% |
| Taxes | 450/3 | €3,861 | €12,640 | +€8,780 | +227.4% |
| Other amounts payable | 47/48 | €948,248 | €1,002,388 | +€54,140 | +5.7% |
| Accrued charges and deferred income | 492/3 | €36,393 | €53,761 | +€17,368 | +47.7% |
| Non-recurring operating income | 76A | - | €7,687 | +€7,687 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,005 | €83,303 | +€3,298 | +4.1% |
| Other operating charges | 640/8 | €4,241 | €4,314 | +€73 | +1.7% |
| Gross operating margin | 9900 | €233,747 | €379,779 | +€146,032 | +62.5% |
| Operating profit (loss) | 9901 | €149,501 | €292,162 | +€142,662 | +95.4% |
| Financial income | 75/76B | €3 | €0 | -€2 | -98.4% |
| Recurring financial income | 75 | €3 | €0 | -€2 | -98.4% |
| Financial charges | 65/66B | €35,894 | €52,711 | +€16,817 | +46.9% |
| Recurring financial charges | 65 | €35,894 | €52,711 | +€16,817 | +46.9% |
| Profit (loss) for the period before taxes | 9903 | €113,609 | €239,451 | +€125,842 | +110.8% |
| Income taxes | 67/77 | €33,002 | €72,594 | +€39,592 | +120.0% |
| Profit (loss) for the period | 9904 | €80,607 | €166,858 | +€86,250 | +107.0% |
| Profit (loss) for the period to be appropriated | 9905 | €80,607 | €166,858 | +€86,250 | +107.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.