METAL FORCE: 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.
What changed
METAL FORCE
NACE 46.820, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€10,202
2024 · €39,750-€29,548
Equity
€1.2m
2024 · €1.2m+€10,202
Cash
€190,669
2024 · €168,674+€21,995
Balance sheet total
€6.1m
2024 · €5.4m+€738,500
Largest movements
Assets
- Deferred charges and accrued income +€1.5m
up €1.5m (+19,979%), from €7,594 to €1.5m
- Receivables within one year -€899,740
down €899,740 (-21.3%), from €4.2m to €3.3m
of which Trade receivables: -€1.0m
- Stocks and contracts +€179,342
up €179,342 (+117%), from €153,770 to €333,112
- Tangible fixed assets -€96,056
down €96,056 (-17.8%), from €540,563 to €444,507
of which Furniture and vehicles: -€49,460
Equity and liabilities
- Accrued charges and deferred income +€499,251
up €499,251 (+82.4%), from €606,142 to €1.1m
- Trade debts +€242,632
up €242,632 (+8.8%), from €2.8m to €3.0m
Income statement
- Other operating charges +€46,349
up €46,349 (+329%), from €14,088 to €60,437
- Taxes -€19,671
down €19,671 (-88.2%), from €22,292 to €2,621
- Staff costs -€9,532
down €9,532 (-3.7%), from €259,030 to €249,498
- Gross operating margin -€9,089
down €9,089 (-2.0%), from €455,873 to €446,784
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.
Result 2024
€39,750
Gross operating margin
-€9,089
Staff costs
+€9,532
Depreciation
-€3,243
Other operating charges
-€46,349
Financial income
+€136
Financial charges
-€206
Taxes
+€19,671
Result 2025
€10,202
raises the resultlowers the result
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.
From operations
+€61,573
Investment
-€42,791
Financing
+€3,213
Cash 2024
€168,674
From operations (derived)
+€61,573
Net result for the year
+€10,202
Depreciation
+€123,062
Stocks and contracts
-€179,342
Receivables within one year
+€899,740
Deferred charges and accrued income
-€1.5m
Trade debts
+€242,632
Tax, wage and social debts
-€8,554
Other debts
-€8,244
Accrued charges and deferred income
+€499,251
Investment (derived)
-€42,791
Investment in fixed assets (net)
-€40,290
Current investments
-€2,501
Financing
+€3,213
Current portion of long-term debt
+€3,750
Short-term financial debts
-€537
Cash 2025
€190,669
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,406,983 | €6,145,483 | +€738,500 | +13.7% |
| Fixed assets | 21/28 | €846,463 | €763,691 | -€82,772 | -9.8% |
| Intangible fixed assets | 21 | - | €13,284 | +€13,284 | |
| Tangible fixed assets | 22/27 | €540,563 | €444,507 | -€96,056 | -17.8% |
| Land and buildings | 22 | €58,596 | €52,155 | -€6,441 | -11.0% |
| Plant, machinery and equipment | 23 | €217,291 | €177,136 | -€40,155 | -18.5% |
| Furniture and vehicles | 24 | €264,676 | €215,216 | -€49,460 | -18.7% |
| Financial fixed assets | 28 | €305,900 | €305,900 | = | 0.0% |
| Current assets | 29/58 | €4,560,520 | €5,381,792 | +€821,272 | +18.0% |
| Stocks and contracts in progress | 3 | €153,770 | €333,112 | +€179,342 | +117% |
| Stocks | 30/36 | €153,770 | €333,112 | +€179,342 | +117% |
| Amounts receivable within one year | 40/41 | €4,218,949 | €3,319,209 | -€899,740 | -21.3% |
| Trade receivables | 40 | €3,796,551 | €2,774,797 | -€1.0m | -26.9% |
| Other amounts receivable | 41 | €422,398 | €544,412 | +€122,014 | +28.9% |
| Current investments | 50/53 | €11,533 | €14,034 | +€2,501 | +21.7% |
| Cash at bank and in hand | 54/58 | €168,674 | €190,669 | +€21,995 | +13.0% |
| Deferred charges and accrued income | 490/1 | €7,594 | €1,524,768 | +€1.5m | +19,979% |
| Total equity and liabilities | 10/49 | €5,406,983 | €6,145,483 | +€738,500 | +13.7% |
| Equity | 10/15 | €1,216,568 | €1,226,770 | +€10,202 | +0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,910 | €7,910 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €6,050 | €6,050 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,190,058 | €1,200,260 | +€10,202 | +0.9% |
| Provisions and deferred taxes | 16 | €500,000 | €500,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €500,000 | €500,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable | 17/49 | €3,690,415 | €4,418,713 | +€728,298 | +19.7% |
| Amounts payable after more than one year | 17 | €68,250 | €68,250 | = | 0.0% |
| Financial debts | 170/4 | €68,250 | €68,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,016,023 | €3,245,070 | +€229,047 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €6,250 | €10,000 | +€3,750 | +60.0% |
| Financial debts | 43 | €537 | - | -€537 | |
| Credit institutions | 430/8 | €537 | - | -€537 | |
| Trade debts | 44 | €2,763,956 | €3,006,588 | +€242,632 | +8.8% |
| Suppliers | 440/4 | €2,763,956 | €3,006,588 | +€242,632 | +8.8% |
| Taxes, remuneration and social security | 45 | €49,536 | €40,982 | -€8,554 | -17.3% |
| Taxes | 450/3 | €13,660 | €2,116 | -€11,544 | -84.5% |
| Remuneration and social security | 454/9 | €35,876 | €38,866 | +€2,990 | +8.3% |
| Other amounts payable | 47/48 | €195,744 | €187,500 | -€8,244 | -4.2% |
| Accrued charges and deferred income | 492/3 | €606,142 | €1,105,393 | +€499,251 | +82.4% |
| Remuneration, social security and pensions | 62 | €259,030 | €249,498 | -€9,532 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,819 | €123,062 | +€3,243 | +2.7% |
| Other operating charges | 640/8 | €14,088 | €60,437 | +€46,349 | +329% |
| Gross operating margin | 9900 | €455,873 | €446,784 | -€9,089 | -2.0% |
| Operating profit (loss) | 9901 | €62,936 | €13,787 | -€49,149 | -78.1% |
| Financial income | 75/76B | €59 | €195 | +€136 | +231% |
| Recurring financial income | 75 | €59 | €195 | +€136 | +231% |
| Financial charges | 65/66B | €953 | €1,159 | +€206 | +21.6% |
| Recurring financial charges | 65 | €953 | €1,159 | +€206 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €62,042 | €12,823 | -€49,219 | -79.3% |
| Income taxes | 67/77 | €22,292 | €2,621 | -€19,671 | -88.2% |
| Profit (loss) for the period | 9904 | €39,750 | €10,202 | -€29,548 | -74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,750 | €10,202 | -€29,548 | -74.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.