METAC: 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.
METAC
Largest movements
- Tangible fixed assets -€11,103
down €11,103 (-2.2%), from €498,728 to €487,625
of which Land and buildings: -€14,386
- Cash -€7,596
down €7,596 (-12.9%), from €58,818 to €51,222
mainly Contributions, distributions and other (-€121,679) and Other debts (-€43,576)
- Debts after one year +€73,165
up €73,165 (+24.4%), from €299,953 to €373,118
of which Other amounts payable: +€131,538
- Profit (loss) carried forward -€72,857
down €72,857 (-71.7%), from €101,679 to €28,823
- Other debts -€43,576
down €43,576 (-47.4%), from €91,866 to €48,289
- Tax, wage and social debts +€23,333
up €23,333 (+244.8%), from €9,533 to €32,866
- Gross operating margin -€20,492
down €20,492 (-14.4%), from €142,051 to €121,559
- Taxes -€5,289
down €5,289 (-29.6%), from €17,870 to €12,582
- Financial charges +€3,700
up €3,700 (+42.5%), from €8,708 to €12,408
- Depreciation -€2,973
down €2,973 (-8.9%), from €33,419 to €30,446
- Other operating charges +€2,796
up €2,796 (+19.3%), from €14,505 to €17,301
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €568,656 | €550,383 | -€18,274 | -3.2% |
| Fixed assets | 21/28 | €498,728 | €487,625 | -€11,103 | -2.2% |
| Tangible fixed assets | 22/27 | €498,728 | €487,625 | -€11,103 | -2.2% |
| Land and buildings | 22 | €472,110 | €457,724 | -€14,386 | -3.0% |
| Plant, machinery and equipment | 23 | €3,687 | €10,872 | +€7,185 | +194.9% |
| Furniture and vehicles | 24 | €22,931 | €19,029 | -€3,902 | -17.0% |
| Current assets | 29/58 | €69,928 | €62,757 | -€7,171 | -10.3% |
| Amounts receivable within one year | 40/41 | €10,702 | €11,114 | +€411 | +3.8% |
| Trade receivables | 40 | €8,663 | €7,759 | -€904 | -10.4% |
| Other amounts receivable | 41 | €2,040 | €3,355 | +€1,315 | +64.5% |
| Cash at bank and in hand | 54/58 | €58,818 | €51,222 | -€7,596 | -12.9% |
| Deferred charges and accrued income | 490/1 | €408 | €422 | +€14 | +3.4% |
| Total equity and liabilities | 10/49 | €568,656 | €550,383 | -€18,274 | -3.2% |
| Equity | 10/15 | €121,146 | €48,289 | -€72,857 | -60.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €867 | €867 | = | 0.0% |
| Non-distributable reserves | 130/1 | €867 | €867 | = | 0.0% |
| Reserves not available under the articles | 1311 | €867 | €867 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,679 | €28,823 | -€72,857 | -71.7% |
| Amounts payable | 17/49 | €447,510 | €502,093 | +€54,583 | +12.2% |
| Amounts payable after more than one year | 17 | €299,953 | €373,118 | +€73,165 | +24.4% |
| Financial debts | 170/4 | €299,953 | €241,580 | -€58,373 | -19.5% |
| Other amounts payable | 178/9 | - | €131,538 | +€131,538 | |
| Amounts payable within one year | 42/48 | €142,558 | €123,975 | -€18,582 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €40,177 | €40,873 | +€696 | +1.7% |
| Trade debts | 44 | €983 | €1,947 | +€965 | +98.2% |
| Suppliers | 440/4 | €983 | €1,947 | +€965 | +98.2% |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €9,533 | €32,866 | +€23,333 | +244.8% |
| Taxes | 450/3 | €9,533 | €32,866 | +€23,333 | +244.8% |
| Other amounts payable | 47/48 | €91,866 | €48,289 | -€43,576 | -47.4% |
| Accrued charges and deferred income | 492/3 | €5,000 | €5,000 | = | 0.0% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,419 | €30,446 | -€2,973 | -8.9% |
| Other operating charges | 640/8 | €14,505 | €17,301 | +€2,796 | +19.3% |
| Gross operating margin | 9900 | €142,051 | €121,559 | -€20,492 | -14.4% |
| Operating profit (loss) | 9901 | €94,128 | €73,813 | -€20,315 | -21.6% |
| Financial charges | 65/66B | €8,708 | €12,408 | +€3,700 | +42.5% |
| Recurring financial charges | 65 | €8,708 | €12,408 | +€3,700 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €85,419 | €61,404 | -€24,015 | -28.1% |
| Income taxes | 67/77 | €17,870 | €12,582 | -€5,289 | -29.6% |
| Profit (loss) for the period | 9904 | €67,549 | €48,823 | -€18,727 | -27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,549 | €48,823 | -€18,727 | -27.7% |
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 7 October 2026 via checked.be.