Metaalconstructie Léon TORFS: 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.
Metaalconstructie Léon TORFS
Largest movements
- Receivables within one year -€91,420
down €91,420 (-21.9%), from €416,771 to €325,352
of which Trade receivables: -€97,968
- Formation expenses +€86,741
new in 2025: €86,741
- Receivables after one year -€81,804
down €81,804 (-100%), from €81,804 to €0
- Cash -€66,544
down €66,544 (-64.7%), from €102,890 to €36,346
mainly Net result for the year (-€283,931) and Investment in fixed assets (net) (-€125,915)
- Stocks and contracts +€61,960
up €61,960 (+17.6%), from €351,672 to €413,631
of which Contracts in progress: +€60,561
- Profit (loss) carried forward -€181,782
new in 2025: -€181,782
- Reserves -€102,781
down €102,781 (-87.4%), from €117,655 to €14,874
of which Distributable reserves: -€102,781
- Contributions +€100,632
up €100,632 (+135%), from €74,368 to €175,000
- Short-term financial debts +€99,085
up €99,085 (+59.1%), from €167,766 to €266,851
- Tax, wage and social debts +€78,083
up €78,083 (+60.2%), from €129,788 to €207,871
of which Remuneration and social security: +€47,583
- Staff costs +€243,093
up €243,093 (+32.8%), from €740,538 to €983,632
- Gross operating margin -€152,900
down €152,900 (-17.8%), from €860,624 to €707,724
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 | €1,200,676 | €1,121,807 | -€78,869 | -6.6% |
| Formation expenses | 20 | - | €86,741 | +€86,741 | |
| Fixed assets | 21/28 | €244,596 | €243,906 | -€690 | -0.3% |
| Intangible fixed assets | 21 | - | €8,797 | +€8,797 | |
| Tangible fixed assets | 22/27 | €244,596 | €235,109 | -€9,487 | -3.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €5,851 | €26,832 | +€20,981 | +359% |
| Furniture and vehicles | 24 | €30,222 | €24,257 | -€5,965 | -19.7% |
| Leasing and similar rights | 25 | €208,522 | €184,020 | -€24,502 | -11.8% |
| Current assets | 29/58 | €956,080 | €791,160 | -€164,919 | -17.2% |
| Amounts receivable after more than one year | 29 | €81,804 | €0 | -€81,804 | -100% |
| Other amounts receivable | 291 | €81,804 | €0 | -€81,804 | -100% |
| Stocks and contracts in progress | 3 | €351,672 | €413,631 | +€61,960 | +17.6% |
| Stocks | 30/36 | €118,784 | €120,183 | +€1,399 | +1.2% |
| Contracts in progress | 37 | €232,887 | €293,448 | +€60,561 | +26.0% |
| Amounts receivable within one year | 40/41 | €416,771 | €325,352 | -€91,420 | -21.9% |
| Trade receivables | 40 | €406,902 | €308,933 | -€97,968 | -24.1% |
| Other amounts receivable | 41 | €9,870 | €16,418 | +€6,549 | +66.4% |
| Cash at bank and in hand | 54/58 | €102,890 | €36,346 | -€66,544 | -64.7% |
| Deferred charges and accrued income | 490/1 | €2,943 | €15,831 | +€12,888 | +438% |
| Total equity and liabilities | 10/49 | €1,200,676 | €1,121,807 | -€78,869 | -6.6% |
| Equity | 10/15 | €192,023 | €8,092 | -€183,931 | -95.8% |
| Contributions | 10/11 | €74,368 | €175,000 | +€100,632 | +135% |
| Reserves | 13 | €117,655 | €14,874 | -€102,781 | -87.4% |
| Tax-exempt reserves | 132 | €14,874 | €14,874 | = | 0.0% |
| Distributable reserves | 133 | €102,781 | €0 | -€102,781 | -100% |
| Profit (loss) carried forward | 14 | - | -€181,782 | -€181,782 | |
| Amounts payable | 17/49 | €1,008,653 | €1,113,716 | +€105,062 | +10.4% |
| Amounts payable after more than one year | 17 | €132,251 | €103,524 | -€28,726 | -21.7% |
| Financial debts | 170/4 | €132,251 | €103,524 | -€28,726 | -21.7% |
| Amounts payable within one year | 42/48 | €863,381 | €991,891 | +€128,510 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €44,556 | €28,726 | -€15,830 | -35.5% |
| Financial debts | 43 | €167,766 | €266,851 | +€99,085 | +59.1% |
| Credit institutions | 430/8 | €167,766 | €266,851 | +€99,085 | +59.1% |
| Trade debts | 44 | €516,469 | €469,215 | -€47,254 | -9.1% |
| Suppliers | 440/4 | €516,469 | €469,215 | -€47,254 | -9.1% |
| Advances received on contracts in progress | 46 | €1,026 | €0 | -€1,026 | -100% |
| Taxes, remuneration and social security | 45 | €129,788 | €207,871 | +€78,083 | +60.2% |
| Taxes | 450/3 | €41,323 | €71,823 | +€30,500 | +73.8% |
| Remuneration and social security | 454/9 | €88,465 | €136,048 | +€47,583 | +53.8% |
| Other amounts payable | 47/48 | €3,776 | €19,228 | +€15,452 | +409% |
| Accrued charges and deferred income | 492/3 | €13,021 | €18,300 | +€5,279 | +40.5% |
| Remuneration, social security and pensions | 62 | €740,538 | €983,632 | +€243,093 | +32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,595 | €39,865 | -€731 | -1.8% |
| Other operating charges | 640/8 | €24,045 | €21,000 | -€3,046 | -12.7% |
| Operating charges capitalised as restructuring costs | 649 | - | -€86,741 | -€86,741 | |
| Gross operating margin | 9900 | €860,624 | €707,724 | -€152,900 | -17.8% |
| Operating profit (loss) | 9901 | €55,445 | -€250,031 | -€305,477 | |
| Financial income | 75/76B | €52 | €143 | +€92 | +177% |
| Recurring financial income | 75 | €52 | €143 | +€92 | +177% |
| Financial charges | 65/66B | €33,066 | €33,149 | +€83 | +0.3% |
| Recurring financial charges | 65 | €33,066 | €33,149 | +€83 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €22,431 | -€283,037 | -€305,468 | |
| Income taxes | 67/77 | €8,970 | €894 | -€8,076 | -90.0% |
| Profit (loss) for the period | 9904 | €13,461 | -€283,931 | -€297,392 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,461 | -€283,931 | -€297,392 |
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 19 October 2026 via checked.be.