Modus O.: 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.
Modus O.
Largest movements
- Cash +€145,603
up €145,603 (+197.3%), from €73,806 to €219,409
mainly Other debts (+€218,213) and Net result for the year (+€186,410)
- Receivables within one year -€73,844
down €73,844 (-77.9%), from €94,754 to €20,910
of which Trade receivables: -€56,121
- Tangible fixed assets -€12,107
down €12,107 (-3.4%), from €360,370 to €348,263
of which Land and buildings: -€12,329
- Other debts +€218,213
up €218,213 (+171.1%), from €127,500 to €345,713
- Reserves -€118,590
down €118,590 (-93.7%), from €126,623 to €8,033
- Debts after one year -€22,467
down €22,467 (-12.6%), from €177,861 to €155,395
- Tax, wage and social debts -€18,183
down €18,183 (-34.7%), from €52,341 to €34,158
- Gross operating margin +€66,282
up €66,282 (+31.9%), from €207,823 to €274,105
- Taxes +€15,698
up €15,698 (+37.8%), from €41,528 to €57,226
- Financial charges +€5,109
up €5,109 (+130.0%), from €3,929 to €9,038
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 | €529,372 | €589,025 | +€59,653 | +11.3% |
| Fixed assets | 21/28 | €360,812 | €348,705 | -€12,107 | -3.4% |
| Tangible fixed assets | 22/27 | €360,370 | €348,263 | -€12,107 | -3.4% |
| Land and buildings | 22 | €344,342 | €332,012 | -€12,329 | -3.6% |
| Plant, machinery and equipment | 23 | €13,050 | €15,423 | +€2,373 | +18.2% |
| Furniture and vehicles | 24 | €2,978 | €828 | -€2,150 | -72.2% |
| Financial fixed assets | 28 | €442 | €442 | = | 0.0% |
| Current assets | 29/58 | €168,560 | €240,319 | +€71,759 | +42.6% |
| Amounts receivable within one year | 40/41 | €94,754 | €20,910 | -€73,844 | -77.9% |
| Trade receivables | 40 | €56,121 | - | -€56,121 | |
| Other amounts receivable | 41 | €38,633 | €20,910 | -€17,723 | -45.9% |
| Cash at bank and in hand | 54/58 | €73,806 | €219,409 | +€145,603 | +197.3% |
| Total equity and liabilities | 10/49 | €529,372 | €589,025 | +€59,653 | +11.3% |
| Equity | 10/15 | €145,223 | €26,633 | -€118,590 | -81.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €126,623 | €8,033 | -€118,590 | -93.7% |
| Distributable reserves | 133 | €126,623 | €8,033 | -€118,590 | -93.7% |
| Amounts payable | 17/49 | €384,149 | €562,392 | +€178,243 | +46.4% |
| Amounts payable after more than one year | 17 | €177,861 | €155,395 | -€22,467 | -12.6% |
| Financial debts | 170/4 | €177,861 | €155,395 | -€22,467 | -12.6% |
| Amounts payable within one year | 42/48 | €206,288 | €406,997 | +€200,709 | +97.3% |
| Current portion of amounts payable after more than one year | 42 | €24,339 | €24,339 | = | 0.0% |
| Trade debts | 44 | €2,107 | €2,787 | +€679 | +32.2% |
| Suppliers | 440/4 | €2,107 | €2,787 | +€679 | +32.2% |
| Taxes, remuneration and social security | 45 | €52,341 | €34,158 | -€18,183 | -34.7% |
| Taxes | 450/3 | €52,341 | €34,158 | -€18,183 | -34.7% |
| Other amounts payable | 47/48 | €127,500 | €345,713 | +€218,213 | +171.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,430 | €21,635 | -€795 | -3.5% |
| Other operating charges | 640/8 | €148 | €150 | +€2 | +1.4% |
| Gross operating margin | 9900 | €207,823 | €274,105 | +€66,282 | +31.9% |
| Operating profit (loss) | 9901 | €185,246 | €252,320 | +€67,074 | +36.2% |
| Financial income | 75/76B | €60 | €354 | +€294 | +487.2% |
| Recurring financial income | 75 | €60 | €354 | +€294 | +487.2% |
| Financial charges | 65/66B | €3,929 | €9,038 | +€5,109 | +130.0% |
| Recurring financial charges | 65 | €3,929 | €9,038 | +€5,109 | +130.0% |
| Profit (loss) for the period before taxes | 9903 | €181,377 | €243,636 | +€62,259 | +34.3% |
| Income taxes | 67/77 | €41,528 | €57,226 | +€15,698 | +37.8% |
| Profit (loss) for the period | 9904 | €139,849 | €186,410 | +€46,561 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €139,849 | €186,410 | +€46,561 | +33.3% |
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 1 October 2026 via checked.be.