MET-Co: 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.
MET-Co
Largest movements
- Stocks and contracts -€98,503
down €98,503 (-38.1%), from €258,802 to €160,300
of which Contracts in progress: -€88,350
- Tangible fixed assets +€84,594
up €84,594 (+27.9%), from €302,836 to €387,430
of which Plant, machinery and equipment: +€78,175
- Receivables within one year -€25,852
down €25,852 (-11.9%), from €216,691 to €190,839
of which Trade receivables: -€42,620
- Cash +€13,027
up €13,027 (+31.9%), from €40,890 to €53,917
mainly Stocks and contracts (+€98,503) and Trade debts (+€67,049)
- Intangible fixed assets +€9,416
up €9,416 (+1,627%), from €579 to €9,995
- Debts after one year -€82,517
down €82,517 (-27.1%), from €304,574 to €222,057
- Trade debts +€67,049
up €67,049 (+45.2%), from €148,240 to €215,289
- Tax, wage and social debts -€25,454
down €25,454 (-79.7%), from €31,921 to €6,466
of which Taxes: -€22,907
- Reserves +€21,852
up €21,852 (+8.3%), from €263,491 to €285,343
- Gross operating margin -€61,903
down €61,903 (-28.1%), from €219,936 to €158,033
- Other operating charges +€14,643
up €14,643 (+287%), from €5,108 to €19,752
- Staff costs -€12,243
down €12,243 (-19.2%), from €63,755 to €51,512
- Taxes -€11,421
down €11,421 (-57.9%), from €19,715 to €8,294
- Depreciation +€8,054
up €8,054 (+22.5%), from €35,726 to €43,780
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 | €826,828 | €813,556 | -€13,272 | -1.6% |
| Fixed assets | 21/28 | €310,445 | €404,455 | +€94,010 | +30.3% |
| Intangible fixed assets | 21 | €579 | €9,995 | +€9,416 | +1,627% |
| Tangible fixed assets | 22/27 | €302,836 | €387,430 | +€84,594 | +27.9% |
| Plant, machinery and equipment | 23 | €288,356 | €366,531 | +€78,175 | +27.1% |
| Furniture and vehicles | 24 | €14,480 | €20,900 | +€6,420 | +44.3% |
| Financial fixed assets | 28 | €7,030 | €7,030 | = | 0.0% |
| Current assets | 29/58 | €516,383 | €409,101 | -€107,283 | -20.8% |
| Stocks and contracts in progress | 3 | €258,802 | €160,300 | -€98,503 | -38.1% |
| Stocks | 30/36 | €170,452 | €160,300 | -€10,153 | -6.0% |
| Contracts in progress | 37 | €88,350 | €0 | -€88,350 | -100% |
| Amounts receivable within one year | 40/41 | €216,691 | €190,839 | -€25,852 | -11.9% |
| Trade receivables | 40 | €208,654 | €166,034 | -€42,620 | -20.4% |
| Other amounts receivable | 41 | €8,037 | €24,805 | +€16,768 | +209% |
| Cash at bank and in hand | 54/58 | €40,890 | €53,917 | +€13,027 | +31.9% |
| Deferred charges and accrued income | 490/1 | - | €4,045 | +€4,045 | |
| Total equity and liabilities | 10/49 | €826,828 | €813,556 | -€13,272 | -1.6% |
| Equity | 10/15 | €282,091 | €303,943 | +€21,852 | +7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €263,491 | €285,343 | +€21,852 | +8.3% |
| Distributable reserves | 133 | €263,491 | €285,343 | +€21,852 | +8.3% |
| Amounts payable | 17/49 | €544,737 | €509,613 | -€35,125 | -6.4% |
| Amounts payable after more than one year | 17 | €304,574 | €222,057 | -€82,517 | -27.1% |
| Financial debts | 170/4 | €304,574 | €222,057 | -€82,517 | -27.1% |
| Amounts payable within one year | 42/48 | €233,512 | €279,725 | +€46,213 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €50,782 | €51,917 | +€1,136 | +2.2% |
| Trade debts | 44 | €148,240 | €215,289 | +€67,049 | +45.2% |
| Suppliers | 440/4 | €148,240 | €215,289 | +€67,049 | +45.2% |
| Taxes, remuneration and social security | 45 | €31,921 | €6,466 | -€25,454 | -79.7% |
| Taxes | 450/3 | €22,907 | €0 | -€22,907 | -100% |
| Remuneration and social security | 454/9 | €9,014 | €6,466 | -€2,547 | -28.3% |
| Other amounts payable | 47/48 | €2,570 | €6,053 | +€3,483 | +136% |
| Accrued charges and deferred income | 492/3 | €6,651 | €7,831 | +€1,180 | +17.7% |
| Remuneration, social security and pensions | 62 | €63,755 | €51,512 | -€12,243 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,726 | €43,780 | +€8,054 | +22.5% |
| Other operating charges | 640/8 | €5,108 | €19,752 | +€14,643 | +287% |
| Gross operating margin | 9900 | €219,936 | €158,033 | -€61,903 | -28.1% |
| Operating profit (loss) | 9901 | €115,347 | €42,990 | -€72,357 | -62.7% |
| Financial income | 75/76B | €698 | €416 | -€282 | -40.4% |
| Recurring financial income | 75 | €698 | €416 | -€282 | -40.4% |
| Financial charges | 65/66B | €19,915 | €13,259 | -€6,656 | -33.4% |
| Recurring financial charges | 65 | €19,915 | €13,259 | -€6,656 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €96,130 | €30,147 | -€65,983 | -68.6% |
| Income taxes | 67/77 | €19,715 | €8,294 | -€11,421 | -57.9% |
| Profit (loss) for the period | 9904 | €76,415 | €21,852 | -€54,563 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €76,415 | €21,852 | -€54,563 | -71.4% |
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 14 October 2026 via checked.be.