MODULOW: 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.
MODULOW
Largest movements
- Receivables within one year -€27,508
down €27,508 (-85.4%), from €32,199 to €4,690
of which Trade receivables: -€17,928
- Tangible fixed assets +€22,684
up €22,684 (+255.0%), from €8,896 to €31,580
of which Furniture and vehicles: +€21,334
- Cash -€7,069
down €7,069 (-14.9%), from €47,314 to €40,246
mainly Contributions, distributions and other (-€61,346) and Investment in fixed assets (net) (-€37,242)
- Reserves -€16,320
no longer reported in 2024 (was €16,320)
- Debts after one year +€9,968
new in 2024: €9,968
- Tax, wage and social debts -€8,997
down €8,997 (-48.7%), from €18,487 to €9,490
of which Taxes: -€6,161
- Current portion of long-term debt +€8,149
new in 2024: €8,149
- Other debts -€4,673
down €4,673 (-9.3%), from €50,150 to €45,477
- Gross operating margin +€37,344
up €37,344 (+99.6%), from €37,509 to €74,854
- Depreciation +€9,583
up €9,583 (+192.6%), from €4,975 to €14,558
- Taxes +€3,452
up €3,452 (+35.1%), from €9,836 to €13,288
- Financial charges +€800
up €800 (+356.0%), from €225 to €1,025
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 | €88,437 | €76,886 | -€11,551 | -13.1% |
| Fixed assets | 21/28 | €8,896 | €31,580 | +€22,684 | +255.0% |
| Tangible fixed assets | 22/27 | €8,896 | €31,580 | +€22,684 | +255.0% |
| Furniture and vehicles | 24 | €8,896 | €30,230 | +€21,334 | +239.8% |
| Other tangible fixed assets | 26 | - | €1,350 | +€1,350 | |
| Current assets | 29/58 | €79,541 | €45,306 | -€34,235 | -43.0% |
| Amounts receivable within one year | 40/41 | €32,199 | €4,690 | -€27,508 | -85.4% |
| Trade receivables | 40 | €20,328 | €2,400 | -€17,928 | -88.2% |
| Other amounts receivable | 41 | €11,871 | €2,290 | -€9,580 | -80.7% |
| Cash at bank and in hand | 54/58 | €47,314 | €40,246 | -€7,069 | -14.9% |
| Deferred charges and accrued income | 490/1 | €28 | €370 | +€342 | +1222.2% |
| Total equity and liabilities | 10/49 | €88,437 | €76,886 | -€11,551 | -13.1% |
| Equity | 10/15 | €19,320 | €3,000 | -€16,320 | -84.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,320 | - | -€16,320 | |
| Distributable reserves | 133 | €16,320 | - | -€16,320 | |
| Amounts payable | 17/49 | €69,117 | €73,886 | +€4,769 | +6.9% |
| Amounts payable after more than one year | 17 | - | €9,968 | +€9,968 | |
| Financial debts | 170/4 | - | €9,968 | +€9,968 | |
| Amounts payable within one year | 42/48 | €69,117 | €63,918 | -€5,199 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | - | €8,149 | +€8,149 | |
| Trade debts | 44 | €481 | €803 | +€322 | +67.0% |
| Suppliers | 440/4 | €481 | €803 | +€322 | +67.0% |
| Taxes, remuneration and social security | 45 | €18,487 | €9,490 | -€8,997 | -48.7% |
| Taxes | 450/3 | €15,650 | €9,490 | -€6,161 | -39.4% |
| Remuneration and social security | 454/9 | €2,836 | - | -€2,836 | |
| Other amounts payable | 47/48 | €50,150 | €45,477 | -€4,673 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,975 | €14,558 | +€9,583 | +192.6% |
| Other operating charges | 640/8 | €825 | €961 | +€136 | +16.5% |
| Gross operating margin | 9900 | €37,509 | €74,854 | +€37,344 | +99.6% |
| Operating profit (loss) | 9901 | €31,709 | €59,335 | +€27,625 | +87.1% |
| Financial income | 75/76B | €454 | €5 | -€449 | -99.0% |
| Recurring financial income | 75 | €454 | €5 | -€449 | -99.0% |
| Financial charges | 65/66B | €225 | €1,025 | +€800 | +356.0% |
| Recurring financial charges | 65 | €225 | €1,025 | +€800 | +356.0% |
| Profit (loss) for the period before taxes | 9903 | €31,939 | €58,314 | +€26,375 | +82.6% |
| Income taxes | 67/77 | €9,836 | €13,288 | +€3,452 | +35.1% |
| Profit (loss) for the period | 9904 | €22,103 | €45,026 | +€22,923 | +103.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,103 | €45,026 | +€22,923 | +103.7% |
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 28 September 2026 via checked.be.