G. METAXAS: 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.
G. METAXAS
Largest movements
- Cash +€96,635
up €96,635 (+38.1%), from €253,781 to €350,416
mainly Net result for the year (+€164,388) and Receivables within one year (+€58,503)
- Receivables within one year -€58,503
down €58,503 (-53.7%), from €108,853 to €50,350
of which Trade receivables: -€81,657
- Reserves +€52,350
up €52,350 (+7.1%), from €738,509 to €790,859
- Tax, wage and social debts -€13,552
down €13,552 (-26.6%), from €50,892 to €37,339
- Gross operating margin +€27,310
up €27,310 (+12.8%), from €212,790 to €240,100
- Taxes +€8,641
up €8,641 (+12.4%), from €69,876 to €78,518
- Write-downs +€3,812
new in 2025: €3,812
- Financial income +€3,612
up €3,612 (+53.0%), from €6,810 to €10,422
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 | €798,242 | €837,626 | +€39,384 | +4.9% |
| Fixed assets | 21/28 | €41,365 | €40,368 | -€997 | -2.4% |
| Tangible fixed assets | 22/27 | €41,365 | €40,368 | -€997 | -2.4% |
| Furniture and vehicles | 24 | €41,365 | €40,368 | -€997 | -2.4% |
| Current assets | 29/58 | €756,877 | €797,258 | +€40,381 | +5.3% |
| Amounts receivable within one year | 40/41 | €108,853 | €50,350 | -€58,503 | -53.7% |
| Trade receivables | 40 | €82,458 | €801 | -€81,657 | -99.0% |
| Other amounts receivable | 41 | €26,395 | €49,549 | +€23,154 | +87.7% |
| Current investments | 50/53 | €392,400 | €394,394 | +€1,994 | +0.5% |
| Cash at bank and in hand | 54/58 | €253,781 | €350,416 | +€96,635 | +38.1% |
| Deferred charges and accrued income | 490/1 | €1,843 | €2,099 | +€256 | +13.9% |
| Total equity and liabilities | 10/49 | €798,242 | €837,626 | +€39,384 | +4.9% |
| Equity | 10/15 | €747,283 | €799,672 | +€52,388 | +7.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €738,509 | €790,859 | +€52,350 | +7.1% |
| Distributable reserves | 133 | €738,509 | €790,859 | +€52,350 | +7.1% |
| Profit (loss) carried forward | 14 | €2,577 | €2,615 | +€38 | +1.5% |
| Amounts payable | 17/49 | €50,959 | €37,954 | -€13,004 | -25.5% |
| Amounts payable within one year | 42/48 | €50,959 | €37,954 | -€13,004 | -25.5% |
| Trade debts | 44 | €67 | €615 | +€548 | +817% |
| Suppliers | 440/4 | €67 | €615 | +€548 | +817% |
| Taxes, remuneration and social security | 45 | €50,892 | €37,339 | -€13,552 | -26.6% |
| Taxes | 450/3 | €50,892 | €37,339 | -€13,552 | -26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,713 | €2,048 | +€335 | +19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,812 | +€3,812 | |
| Other operating charges | 640/8 | €573 | €526 | -€47 | -8.1% |
| Gross operating margin | 9900 | €212,790 | €240,100 | +€27,310 | +12.8% |
| Operating profit (loss) | 9901 | €210,504 | €233,714 | +€23,210 | +11.0% |
| Financial income | 75/76B | €6,810 | €10,422 | +€3,612 | +53.0% |
| Recurring financial income | 75 | €6,810 | €10,422 | +€3,612 | +53.0% |
| Financial charges | 65/66B | €772 | €1,230 | +€458 | +59.3% |
| Recurring financial charges | 65 | €772 | €1,230 | +€458 | +59.3% |
| Profit (loss) for the period before taxes | 9903 | €216,542 | €242,906 | +€26,364 | +12.2% |
| Income taxes | 67/77 | €69,876 | €78,518 | +€8,641 | +12.4% |
| Profit (loss) for the period | 9904 | €146,666 | €164,388 | +€17,722 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €146,666 | €164,388 | +€17,722 | +12.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.