METAE: 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.
METAE
Largest movements
- Intangible fixed assets +€81,719
up €81,719 (+26,316%), from €311 to €82,030
- Tangible fixed assets +€67,091
up €67,091 (+245%), from €27,413 to €94,504
- Receivables within one year -€35,513
down €35,513 (-26.1%), from €136,100 to €100,588
of which Trade receivables: -€75,915
- Cash -€4,171
down €4,171 (-24.0%), from €17,384 to €13,212
mainly Investment in fixed assets (net) (-€176,991) and Other debts (-€12,000)
- Debts after one year +€53,137
up €53,137 (+79.9%), from €66,497 to €119,634
of which Financial debts: +€54,375
- Trade debts +€21,656
up €21,656 (+150%), from €14,432 to €36,088
- Current portion of long-term debt +€19,819
up €19,819 (+105%), from €18,920 to €38,740
- Profit (loss) carried forward +€15,070
up €15,070 (+19.9%), from -€75,710 to -€60,640
- Tax, wage and social debts +€14,679
up €14,679 (+33.2%), from €44,278 to €58,957
of which Remuneration and social security: +€13,196
- Staff costs +€47,241
up €47,241 (+32.3%), from €146,260 to €193,501
- Gross operating margin +€46,400
up €46,400 (+23.3%), from €199,095 to €245,495
- Depreciation -€10,071
down €10,071 (-26.3%), from €38,252 to €28,181
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 | €182,759 | €293,279 | +€110,520 | +60.5% |
| Fixed assets | 21/28 | €27,724 | €176,534 | +€148,810 | +537% |
| Intangible fixed assets | 21 | €311 | €82,030 | +€81,719 | +26,316% |
| Tangible fixed assets | 22/27 | €27,413 | €94,504 | +€67,091 | +245% |
| Plant, machinery and equipment | 23 | €1,878 | €20,258 | +€18,380 | +978% |
| Furniture and vehicles | 24 | €8,818 | €7,289 | -€1,529 | -17.3% |
| Leasing and similar rights | 25 | €13,294 | €46,836 | +€33,542 | +252% |
| Other tangible fixed assets | 26 | €3,424 | €20,121 | +€16,698 | +488% |
| Current assets | 29/58 | €155,035 | €116,745 | -€38,290 | -24.7% |
| Amounts receivable within one year | 40/41 | €136,100 | €100,588 | -€35,513 | -26.1% |
| Trade receivables | 40 | €130,798 | €54,883 | -€75,915 | -58.0% |
| Other amounts receivable | 41 | €5,303 | €45,705 | +€40,402 | +762% |
| Cash at bank and in hand | 54/58 | €17,384 | €13,212 | -€4,171 | -24.0% |
| Deferred charges and accrued income | 490/1 | €1,551 | €2,945 | +€1,394 | +89.9% |
| Total equity and liabilities | 10/49 | €182,759 | €293,279 | +€110,520 | +60.5% |
| Equity | 10/15 | €24,290 | €39,461 | +€15,170 | +62.5% |
| Contributions | 10/11 | €100,000 | €100,100 | +€100 | +0.1% |
| Profit (loss) carried forward | 14 | -€75,710 | -€60,640 | +€15,070 | +19.9% |
| Amounts payable | 17/49 | €158,469 | €253,818 | +€95,350 | +60.2% |
| Amounts payable after more than one year | 17 | €66,497 | €119,634 | +€53,137 | +79.9% |
| Financial debts | 170/4 | €65,259 | €119,634 | +€54,375 | +83.3% |
| Other amounts payable | 178/9 | €1,238 | €0 | -€1,238 | -100% |
| Amounts payable within one year | 42/48 | €89,630 | €133,784 | +€44,155 | +49.3% |
| Current portion of amounts payable after more than one year | 42 | €18,920 | €38,740 | +€19,819 | +105% |
| Trade debts | 44 | €14,432 | €36,088 | +€21,656 | +150% |
| Suppliers | 440/4 | €14,432 | €36,088 | +€21,656 | +150% |
| Taxes, remuneration and social security | 45 | €44,278 | €58,957 | +€14,679 | +33.2% |
| Taxes | 450/3 | €20,820 | €22,303 | +€1,483 | +7.1% |
| Remuneration and social security | 454/9 | €23,458 | €36,654 | +€13,196 | +56.3% |
| Other amounts payable | 47/48 | €12,000 | €0 | -€12,000 | -100% |
| Accrued charges and deferred income | 492/3 | €2,342 | €400 | -€1,942 | -82.9% |
| Remuneration, social security and pensions | 62 | €146,260 | €193,501 | +€47,241 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,252 | €28,181 | -€10,071 | -26.3% |
| Other operating charges | 640/8 | €3,275 | €2,528 | -€746 | -22.8% |
| Non-recurring operating charges | 66A | €58 | - | -€58 | |
| Gross operating margin | 9900 | €199,095 | €245,495 | +€46,400 | +23.3% |
| Operating profit (loss) | 9901 | €11,250 | €21,285 | +€10,035 | +89.2% |
| Financial income | 75/76B | €229 | €1,470 | +€1,241 | +542% |
| Recurring financial income | 75 | €229 | €1,470 | +€1,241 | +542% |
| Financial charges | 65/66B | €5,528 | €7,241 | +€1,713 | +31.0% |
| Recurring financial charges | 65 | €5,528 | €7,241 | +€1,713 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €5,952 | €15,514 | +€9,563 | +161% |
| Income taxes | 67/77 | €174 | €444 | +€270 | +155% |
| Profit (loss) for the period | 9904 | €5,778 | €15,070 | +€9,293 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €5,778 | €15,070 | +€9,293 | +161% |
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 20 October 2026 via checked.be.