METAK: 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.
METAK
Largest movements
- Receivables within one year -€62,950
down €62,950 (-22.7%), from €276,891 to €213,941
of which Trade receivables: -€67,398
- Tangible fixed assets -€46,349
down €46,349 (-22.6%), from €205,020 to €158,671
- Trade debts -€110,724
down €110,724 (-91.1%), from €121,607 to €10,883
- Other debts +€69,569
up €69,569 (+37.5%), from €185,655 to €255,224
- Debts after one year -€46,810
down €46,810 (-8.2%), from €568,409 to €521,599
- Profit (loss) carried forward -€24,225
down €24,225 (-9.1%), from €266,928 to €242,703
- Gross operating margin -€37,199
down €37,199 (-46.1%), from €80,616 to €43,417
- Depreciation +€10,456
up €10,456 (+29.1%), from €35,894 to €46,349
- Financial charges +€6,494
up €6,494 (+40.1%), from €16,176 to €22,670
- Taxes -€3,722
no longer reported in 2025 (was €3,722)
- Financial income +€1,035
up €1,035 (+36.9%), from €2,800 to €3,835
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 | €1,213,485 | €1,103,320 | -€110,164 | -9.1% |
| Fixed assets | 21/28 | €205,020 | €158,671 | -€46,349 | -22.6% |
| Tangible fixed assets | 22/27 | €205,020 | €158,671 | -€46,349 | -22.6% |
| Plant, machinery and equipment | 23 | €205,020 | €158,671 | -€46,349 | -22.6% |
| Current assets | 29/58 | €1,008,465 | €944,650 | -€63,815 | -6.3% |
| Stocks and contracts in progress | 3 | €730,672 | €730,672 | = | 0.0% |
| Stocks | 30/36 | €730,672 | €730,672 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €276,891 | €213,941 | -€62,950 | -22.7% |
| Trade receivables | 40 | €203,149 | €135,751 | -€67,398 | -33.2% |
| Other amounts receivable | 41 | €73,743 | €78,190 | +€4,448 | +6.0% |
| Cash at bank and in hand | 54/58 | €901 | €36 | -€865 | -96.0% |
| Total equity and liabilities | 10/49 | €1,213,485 | €1,103,320 | -€110,164 | -9.1% |
| Equity | 10/15 | €290,842 | €266,617 | -€24,225 | -8.3% |
| Contributions | 10/11 | €2 | €2 | = | 0.0% |
| Reserves | 13 | €23,912 | €23,912 | = | 0.0% |
| Distributable reserves | 133 | €23,912 | €23,912 | = | 0.0% |
| Profit (loss) carried forward | 14 | €266,928 | €242,703 | -€24,225 | -9.1% |
| Amounts payable | 17/49 | €922,643 | €836,704 | -€85,939 | -9.3% |
| Amounts payable after more than one year | 17 | €568,409 | €521,599 | -€46,810 | -8.2% |
| Financial debts | 170/4 | €568,409 | €521,599 | -€46,810 | -8.2% |
| Amounts payable within one year | 42/48 | €354,202 | €315,104 | -€39,098 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €45,048 | €46,810 | +€1,762 | +3.9% |
| Trade debts | 44 | €121,607 | €10,883 | -€110,724 | -91.1% |
| Suppliers | 440/4 | €121,607 | €10,883 | -€110,724 | -91.1% |
| Taxes, remuneration and social security | 45 | €1,892 | €2,188 | +€296 | +15.6% |
| Taxes | 450/3 | €1,892 | €2,188 | +€296 | +15.6% |
| Other amounts payable | 47/48 | €185,655 | €255,224 | +€69,569 | +37.5% |
| Accrued charges and deferred income | 492/3 | €31 | - | -€31 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,894 | €46,349 | +€10,456 | +29.1% |
| Other operating charges | 640/8 | €1,433 | €2,458 | +€1,025 | +71.5% |
| Non-recurring operating charges | 66A | €2,279 | - | -€2,279 | |
| Gross operating margin | 9900 | €80,616 | €43,417 | -€37,199 | -46.1% |
| Operating profit (loss) | 9901 | €41,010 | -€5,391 | -€46,400 | |
| Financial income | 75/76B | €2,800 | €3,835 | +€1,035 | +36.9% |
| Recurring financial income | 75 | €2,800 | €3,835 | +€1,035 | +36.9% |
| Financial charges | 65/66B | €16,176 | €22,670 | +€6,494 | +40.1% |
| Recurring financial charges | 65 | €16,176 | €22,670 | +€6,494 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €27,634 | -€24,225 | -€51,859 | |
| Income taxes | 67/77 | €3,722 | - | -€3,722 | |
| Profit (loss) for the period | 9904 | €23,912 | -€24,225 | -€48,137 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,912 | -€24,225 | -€48,137 |
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 1 November 2026 via checked.be.