Colors: 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
Colors
NACE 25.510, Coating of metals
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€520,483
2024 · -€169,193-€351,289
Equity
€379,763
2024 · €900,245-€520,483
Cash
€246,032
2024 · €273,655-€27,624
Balance sheet total
€3.0m
2024 · €3.6m-€619,163
Largest movements
Assets
- Tangible fixed assets -€256,720
down €256,720 (-12.4%), from €2.1m to €1.8m
of which Plant, machinery and equipment: -€242,773
- Current investments -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Stocks and contracts -€70,312
down €70,312 (-27.2%), from €258,378 to €188,066
Equity and liabilities
- Profit (loss) carried forward -€355,237
new in 2025: -€355,237
- Debts after one year -€191,460
down €191,460 (-8.8%), from €2.2m to €2.0m
- Reserves -€165,245
down €165,245 (-66.0%), from €250,245 to €85,000
of which Distributable reserves: -€165,245
- Trade debts +€66,439
up €66,439 (+51.3%), from €129,594 to €196,033
Income statement
- Gross operating margin -€402,442
down €402,442 (-27.5%), from €1.5m to €1.1m
- Staff costs -€57,427
down €57,427 (-4.6%), from €1.3m to €1.2m
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
-€169,193
Gross operating margin
-€402,442
Staff costs
+€57,427
Depreciation
-€832
Write-downs
-€7,502
Other operating charges
+€2,267
Other operating items
+€420
Financial income
-€2,806
Financial charges
+€2,287
Taxes
-€109
Result 2025
-€520,483
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
-€25,532
Investment
+€179,965
Financing
-€182,056
Cash 2024
€273,655
From operations (derived)
-€25,532
Net result for the year
-€520,483
Depreciation
+€327,085
Stocks and contracts
+€70,312
Receivables within one year
+€11,875
Deferred charges and accrued income
+€2,303
Trade debts
+€66,439
Tax, wage and social debts
+€4,007
Other debts
+€12,930
Investment (derived)
+€179,965
Investment in fixed assets (net)
-€70,035
Current investments
+€250,000
Financing
-€182,056
Debts after one year
-€191,460
Current portion of long-term debt
+€11,278
Short-term financial debts
-€1,874
Cash 2025
€246,032
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,636,154 | €3,016,991 | -€619,163 | -17.0% |
| Fixed assets | 21/28 | €2,068,811 | €1,811,761 | -€257,050 | -12.4% |
| Intangible fixed assets | 21 | €746 | €416 | -€330 | -44.2% |
| Tangible fixed assets | 22/27 | €2,067,292 | €1,810,573 | -€256,720 | -12.4% |
| Plant, machinery and equipment | 23 | €1,782,897 | €1,540,124 | -€242,773 | -13.6% |
| Furniture and vehicles | 24 | €17,209 | €13,534 | -€3,675 | -21.4% |
| Leasing and similar rights | 25 | €264,065 | €223,251 | -€40,813 | -15.5% |
| Other tangible fixed assets | 26 | €3,121 | €2,663 | -€458 | -14.7% |
| Assets under construction and advance payments | 27 | - | €31,000 | +€31,000 | |
| Financial fixed assets | 28 | €772 | €772 | = | 0.0% |
| Current assets | 29/58 | €1,567,344 | €1,205,230 | -€362,114 | -23.1% |
| Stocks and contracts in progress | 3 | €258,378 | €188,066 | -€70,312 | -27.2% |
| Stocks | 30/36 | €258,378 | €188,066 | -€70,312 | -27.2% |
| Amounts receivable within one year | 40/41 | €767,674 | €755,800 | -€11,875 | -1.5% |
| Trade receivables | 40 | €718,541 | €729,876 | +€11,335 | +1.6% |
| Other amounts receivable | 41 | €49,133 | €25,923 | -€23,209 | -47.2% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €273,655 | €246,032 | -€27,624 | -10.1% |
| Deferred charges and accrued income | 490/1 | €17,636 | €15,333 | -€2,303 | -13.1% |
| Total equity and liabilities | 10/49 | €3,636,154 | €3,016,991 | -€619,163 | -17.0% |
| Equity | 10/15 | €900,245 | €379,763 | -€520,483 | -57.8% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €250,245 | €85,000 | -€165,245 | -66.0% |
| Non-distributable reserves | 130/1 | €85,000 | €85,000 | = | 0.0% |
| Legal reserve | 130 | €85,000 | €85,000 | = | 0.0% |
| Distributable reserves | 133 | €165,245 | €0 | -€165,245 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€355,237 | -€355,237 | |
| Amounts payable | 17/49 | €2,735,909 | €2,637,228 | -€98,681 | -3.6% |
| Amounts payable after more than one year | 17 | €2,166,987 | €1,975,527 | -€191,460 | -8.8% |
| Financial debts | 170/4 | €2,166,987 | €1,975,527 | -€191,460 | -8.8% |
| Amounts payable within one year | 42/48 | €568,579 | €661,358 | +€92,779 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €205,807 | €217,085 | +€11,278 | +5.5% |
| Financial debts | 43 | €122,076 | €120,202 | -€1,874 | -1.5% |
| Credit institutions | 430/8 | €122,076 | €120,202 | -€1,874 | -1.5% |
| Trade debts | 44 | €129,594 | €196,033 | +€66,439 | +51.3% |
| Suppliers | 440/4 | €129,594 | €196,033 | +€66,439 | +51.3% |
| Taxes, remuneration and social security | 45 | €98,544 | €102,551 | +€4,007 | +4.1% |
| Taxes | 450/3 | €4,471 | €8,211 | +€3,739 | +83.6% |
| Remuneration and social security | 454/9 | €94,073 | €94,341 | +€267 | +0.3% |
| Other amounts payable | 47/48 | €12,557 | €25,486 | +€12,930 | +103.0% |
| Accrued charges and deferred income | 492/3 | €344 | €344 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,260,047 | €1,202,621 | -€57,427 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,253 | €327,085 | +€832 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,377 | -€875 | +€7,502 | +89.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €18,488 | €16,221 | -€2,267 | -12.3% |
| Non-recurring operating charges | 66A | €420 | €0 | -€420 | -100.0% |
| Gross operating margin | 9900 | €1,462,714 | €1,060,272 | -€402,442 | -27.5% |
| Operating profit (loss) | 9901 | -€134,118 | -€484,780 | -€350,662 | -261.5% |
| Financial income | 75/76B | €22,847 | €20,042 | -€2,806 | -12.3% |
| Recurring financial income | 75 | €22,847 | €20,042 | -€2,806 | -12.3% |
| Financial charges | 65/66B | €57,624 | €55,337 | -€2,287 | -4.0% |
| Recurring financial charges | 65 | €57,624 | €55,337 | -€2,287 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€168,894 | -€520,075 | -€351,181 | -207.9% |
| Income taxes | 67/77 | €299 | €408 | +€109 | +36.3% |
| Profit (loss) for the period | 9904 | -€169,193 | -€520,483 | -€351,289 | -207.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€169,193 | -€520,483 | -€351,289 | -207.6% |
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 8 October 2026 via checked.be.