FORNAX METALS: what changed
Two financial 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.
FORNAX METALS
Largest movements
- Cash +€169,778
up €169,778 (+309%), from €54,931 to €224,709
mainly Other debts (+€200,743) and Net result for the year (+€83,290)
- Receivables within one year +€96,429
up €96,429 (+44.6%), from €216,276 to €312,704
of which Trade receivables: +€87,426
- Stocks and contracts +€60,011
up €60,011 (+275%), from €21,783 to €81,794
of which Stocks: +€36,476
- Other debts +€200,743
up €200,743 (+216%), from €92,860 to €293,602
- Trade debts +€69,103
up €69,103 (+153%), from €45,152 to €114,256
- Reserves +€33,290
up €33,290 (+22.8%), from €145,816 to €179,106
- Short-term financial debts +€14,821
new in 2025: €14,821
- Gross operating margin -€25,835
down €25,835 (-14.1%), from €182,741 to €156,906
- Depreciation -€10,317
down €10,317 (-57.6%), from €17,903 to €7,586
- Taxes -€6,110
down €6,110 (-34.7%), from €17,609 to €11,500
- Financial income -€1,868
down €1,868 (-100.0%), from €1,868 to €0
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.
Derived cash bridge
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 | €324,058 | €643,230 | +€319,172 | +98.5% |
| Fixed assets | 21/28 | €29,209 | €21,622 | -€7,586 | -26.0% |
| Intangible fixed assets | 21 | €6,613 | €4,975 | -€1,638 | -24.8% |
| Tangible fixed assets | 22/27 | €22,596 | €16,647 | -€5,949 | -26.3% |
| Furniture and vehicles | 24 | €22,596 | €16,647 | -€5,949 | -26.3% |
| Current assets | 29/58 | €294,849 | €621,607 | +€326,758 | +111% |
| Stocks and contracts in progress | 3 | €21,783 | €81,794 | +€60,011 | +275% |
| Stocks | 30/36 | €21,783 | €58,259 | +€36,476 | +167% |
| Contracts in progress | 37 | - | €23,535 | +€23,535 | |
| Amounts receivable within one year | 40/41 | €216,276 | €312,704 | +€96,429 | +44.6% |
| Trade receivables | 40 | €91,291 | €178,717 | +€87,426 | +95.8% |
| Other amounts receivable | 41 | €124,985 | €133,988 | +€9,003 | +7.2% |
| Cash at bank and in hand | 54/58 | €54,931 | €224,709 | +€169,778 | +309% |
| Deferred charges and accrued income | 490/1 | €1,860 | €2,400 | +€540 | +29.0% |
| Total equity and liabilities | 10/49 | €324,058 | €643,230 | +€319,172 | +98.5% |
| Equity | 10/15 | €164,416 | €197,706 | +€33,290 | +20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,816 | €179,106 | +€33,290 | +22.8% |
| Distributable reserves | 133 | €145,816 | €179,106 | +€33,290 | +22.8% |
| Amounts payable | 17/49 | €159,642 | €445,524 | +€285,882 | +179% |
| Amounts payable within one year | 42/48 | €159,554 | €445,434 | +€285,880 | +179% |
| Financial debts | 43 | - | €14,821 | +€14,821 | |
| Credit institutions | 430/8 | - | €14,821 | +€14,821 | |
| Trade debts | 44 | €45,152 | €114,256 | +€69,103 | +153% |
| Suppliers | 440/4 | €45,152 | €114,256 | +€69,103 | +153% |
| Taxes, remuneration and social security | 45 | €21,542 | €22,755 | +€1,213 | +5.6% |
| Taxes | 450/3 | €17,657 | €18,604 | +€947 | +5.4% |
| Remuneration and social security | 454/9 | €3,885 | €4,151 | +€266 | +6.8% |
| Other amounts payable | 47/48 | €92,860 | €293,602 | +€200,743 | +216% |
| Accrued charges and deferred income | 492/3 | €88 | €89 | +€2 | +1.9% |
| Non-recurring operating income | 76A | €909 | €2,893 | +€1,983 | +218% |
| Remuneration, social security and pensions | 62 | €43,997 | €45,765 | +€1,768 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,903 | €7,586 | -€10,317 | -57.6% |
| Other operating charges | 640/8 | €4,596 | €4,665 | +€70 | +1.5% |
| Gross operating margin | 9900 | €182,741 | €156,906 | -€25,835 | -14.1% |
| Operating profit (loss) | 9901 | €116,246 | €98,889 | -€17,357 | -14.9% |
| Financial income | 75/76B | €1,868 | €0 | -€1,868 | -100.0% |
| Recurring financial income | 75 | €1,868 | €0 | -€1,868 | -100.0% |
| Financial charges | 65/66B | €2,295 | €4,100 | +€1,805 | +78.7% |
| Recurring financial charges | 65 | €2,295 | €4,100 | +€1,805 | +78.7% |
| Profit (loss) for the period before taxes | 9903 | €115,819 | €94,790 | -€21,030 | -18.2% |
| Income taxes | 67/77 | €17,609 | €11,500 | -€6,110 | -34.7% |
| Profit (loss) for the period | 9904 | €98,210 | €83,290 | -€14,920 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €98,210 | €83,290 | -€14,920 | -15.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.