METACORTEX: 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.
METACORTEX
Largest movements
- Cash -€54,141
down €54,141 (-47.2%), from €114,692 to €60,551
mainly Contributions, distributions and other (-€53,000) and Receivables within one year (-€46,291)
- Receivables within one year +€46,291
up €46,291 (+215%), from €21,518 to €67,808
of which Trade receivables: +€42,483
- Current investments +€25,000
new in 2025: €25,000
- Tangible fixed assets +€4,549
up €4,549 (+74.9%), from €6,074 to €10,623
of which Furniture and vehicles: +€5,142
- Trade debts +€13,463
up €13,463 (+53.5%), from €25,177 to €38,640
- Profit (loss) carried forward +€3,999
up €3,999 (+3.4%), from €117,474 to €121,473
- Current portion of long-term debt +€3,348
up €3,348 (+99.0%), from €3,381 to €6,729
- Gross operating margin -€5,790
down €5,790 (-6.7%), from €86,619 to €80,829
- Depreciation +€1,158
up €1,158 (+56.9%), from €2,037 to €3,195
- Financial charges +€1,098
up €1,098 (+40.9%), from €2,681 to €3,778
- Other operating charges +€984
up €984 (+4,341%), from €23 to €1,007
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 | €164,389 | €186,198 | +€21,809 | +13.3% |
| Fixed assets | 21/28 | €6,074 | €10,623 | +€4,549 | +74.9% |
| Tangible fixed assets | 22/27 | €6,074 | €10,623 | +€4,549 | +74.9% |
| Plant, machinery and equipment | 23 | €2,605 | €2,013 | -€592 | -22.7% |
| Furniture and vehicles | 24 | €3,469 | €8,610 | +€5,142 | +148% |
| Current assets | 29/58 | €158,315 | €175,575 | +€17,260 | +10.9% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,518 | €67,808 | +€46,291 | +215% |
| Trade receivables | 40 | €18,542 | €61,025 | +€42,483 | +229% |
| Other amounts receivable | 41 | €2,976 | €6,784 | +€3,808 | +128% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €114,692 | €60,551 | -€54,141 | -47.2% |
| Deferred charges and accrued income | 490/1 | €2,105 | €2,215 | +€110 | +5.2% |
| Total equity and liabilities | 10/49 | €164,389 | €186,198 | +€21,809 | +13.3% |
| Equity | 10/15 | €120,474 | €124,473 | +€3,999 | +3.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,474 | €121,473 | +€3,999 | +3.4% |
| Amounts payable | 17/49 | €43,915 | €61,725 | +€17,810 | +40.6% |
| Amounts payable within one year | 42/48 | €43,915 | €61,422 | +€17,507 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €3,381 | €6,729 | +€3,348 | +99.0% |
| Trade debts | 44 | €25,177 | €38,640 | +€13,463 | +53.5% |
| Suppliers | 440/4 | €25,177 | €38,640 | +€13,463 | +53.5% |
| Taxes, remuneration and social security | 45 | €7,798 | €8,607 | +€809 | +10.4% |
| Taxes | 450/3 | €7,798 | €8,607 | +€809 | +10.4% |
| Other amounts payable | 47/48 | €7,559 | €7,446 | -€113 | -1.5% |
| Accrued charges and deferred income | 492/3 | €0 | €303 | +€303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,037 | €3,195 | +€1,158 | +56.9% |
| Other operating charges | 640/8 | €23 | €1,007 | +€984 | +4,341% |
| Non-recurring operating charges | 66A | - | €730 | +€730 | |
| Gross operating margin | 9900 | €86,619 | €80,829 | -€5,790 | -6.7% |
| Operating profit (loss) | 9901 | €84,560 | €75,898 | -€8,662 | -10.2% |
| Financial income | 75/76B | €1,164 | €1,086 | -€78 | -6.7% |
| Recurring financial income | 75 | €1,164 | €1,086 | -€78 | -6.7% |
| Financial charges | 65/66B | €2,681 | €3,778 | +€1,098 | +40.9% |
| Recurring financial charges | 65 | €2,681 | €3,778 | +€1,098 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €83,043 | €73,205 | -€9,838 | -11.8% |
| Income taxes | 67/77 | €17,024 | €16,206 | -€817 | -4.8% |
| Profit (loss) for the period | 9904 | €66,019 | €56,999 | -€9,020 | -13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,019 | €56,999 | -€9,020 | -13.7% |
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.