METAL WORKING: 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.
METAL WORKING
Largest movements
- Receivables within one year -€148,327
down €148,327 (-28.3%), from €523,773 to €375,446
of which Trade receivables: -€170,162
- Cash +€148,077
up €148,077 (+1,267%), from €11,685 to €159,762
mainly Net result for the year (+€149,512) and Receivables within one year (+€148,327)
- Tangible fixed assets +€104,034
up €104,034 (+26.3%), from €395,197 to €499,231
of which Plant, machinery and equipment: +€180,543
- Stocks and contracts +€90,702
up €90,702 (+107%), from €84,413 to €175,115
- Deferred charges and accrued income +€38,880
up €38,880 (+770%), from €5,052 to €43,932
- Reserves +€149,230
up €149,230 (+37.3%), from €400,060 to €549,290
of which Distributable reserves: +€94,500
- Debts after one year +€108,642
up €108,642 (+107%), from €102,006 to €210,648
- Trade debts +€37,828
up €37,828 (+23.0%), from €164,615 to €202,443
- Other debts -€20,000
no longer reported in 2025 (was €20,000)
- Staff costs +€88,525
up €88,525 (+16.4%), from €539,257 to €627,781
- Gross operating margin +€84,731
up €84,731 (+9.7%), from €872,136 to €956,867
- Depreciation +€12,013
up €12,013 (+11.2%), from €107,094 to €119,107
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 | €1,040,754 | €1,300,249 | +€259,495 | +24.9% |
| Fixed assets | 21/28 | €396,220 | €508,135 | +€111,915 | +28.2% |
| Intangible fixed assets | 21 | €865 | €8,747 | +€7,882 | +911% |
| Tangible fixed assets | 22/27 | €395,197 | €499,231 | +€104,034 | +26.3% |
| Land and buildings | 22 | €141,168 | €123,083 | -€18,085 | -12.8% |
| Plant, machinery and equipment | 23 | €71,000 | €251,543 | +€180,543 | +254% |
| Furniture and vehicles | 24 | €137,815 | €114,908 | -€22,908 | -16.6% |
| Leasing and similar rights | 25 | €45,213 | €9,697 | -€35,517 | -78.6% |
| Financial fixed assets | 28 | €157 | €157 | = | 0.0% |
| Current assets | 29/58 | €644,534 | €792,114 | +€147,579 | +22.9% |
| Stocks and contracts in progress | 3 | €84,413 | €175,115 | +€90,702 | +107% |
| Stocks | 30/36 | €84,413 | €175,115 | +€90,702 | +107% |
| Amounts receivable within one year | 40/41 | €523,773 | €375,446 | -€148,327 | -28.3% |
| Trade receivables | 40 | €512,702 | €342,540 | -€170,162 | -33.2% |
| Other amounts receivable | 41 | €11,071 | €32,906 | +€21,835 | +197% |
| Current investments | 50/53 | €19,612 | €37,859 | +€18,247 | +93.0% |
| Cash at bank and in hand | 54/58 | €11,685 | €159,762 | +€148,077 | +1,267% |
| Deferred charges and accrued income | 490/1 | €5,052 | €43,932 | +€38,880 | +770% |
| Total equity and liabilities | 10/49 | €1,040,754 | €1,300,249 | +€259,495 | +24.9% |
| Equity | 10/15 | €491,166 | €631,492 | +€140,326 | +28.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €400,060 | €549,290 | +€149,230 | +37.3% |
| Tax-exempt reserves | 132 | €84,200 | €138,930 | +€54,730 | +65.0% |
| Distributable reserves | 133 | €315,860 | €410,360 | +€94,500 | +29.9% |
| Profit (loss) carried forward | 14 | €62,717 | €62,999 | +€282 | +0.4% |
| Investment grants | 15 | €22,189 | €13,003 | -€9,186 | -41.4% |
| Amounts payable | 17/49 | €549,588 | €668,757 | +€119,169 | +21.7% |
| Amounts payable after more than one year | 17 | €102,006 | €210,648 | +€108,642 | +107% |
| Financial debts | 170/4 | €102,006 | €210,648 | +€108,642 | +107% |
| Amounts payable within one year | 42/48 | €447,582 | €458,109 | +€10,527 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €84,489 | €85,682 | +€1,193 | +1.4% |
| Financial debts | 43 | €29,580 | €28,748 | -€832 | -2.8% |
| Credit institutions | 430/8 | €29,580 | €28,748 | -€832 | -2.8% |
| Trade debts | 44 | €164,615 | €202,443 | +€37,828 | +23.0% |
| Suppliers | 440/4 | €164,615 | €202,443 | +€37,828 | +23.0% |
| Taxes, remuneration and social security | 45 | €148,898 | €141,236 | -€7,662 | -5.1% |
| Taxes | 450/3 | €76,085 | €52,047 | -€24,038 | -31.6% |
| Remuneration and social security | 454/9 | €72,814 | €89,190 | +€16,376 | +22.5% |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Non-recurring operating income | 76A | €24,297 | - | -€24,297 | |
| Remuneration, social security and pensions | 62 | €539,257 | €627,781 | +€88,525 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,094 | €119,107 | +€12,013 | +11.2% |
| Other operating charges | 640/8 | €11,791 | €11,588 | -€203 | -1.7% |
| Non-recurring operating charges | 66A | €104 | €74 | -€30 | -28.7% |
| Gross operating margin | 9900 | €872,136 | €956,867 | +€84,731 | +9.7% |
| Operating profit (loss) | 9901 | €213,890 | €198,317 | -€15,573 | -7.3% |
| Financial income | 75/76B | €9,591 | €9,643 | +€52 | +0.5% |
| Recurring financial income | 75 | €9,591 | €9,643 | +€52 | +0.5% |
| Financial charges | 65/66B | €16,035 | €12,299 | -€3,736 | -23.3% |
| Recurring financial charges | 65 | €16,035 | €12,299 | -€3,736 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €207,446 | €195,660 | -€11,786 | -5.7% |
| Income taxes | 67/77 | €55,709 | €46,148 | -€9,560 | -17.2% |
| Profit (loss) for the period | 9904 | €151,737 | €149,512 | -€2,225 | -1.5% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €54,730 | -€29,470 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,537 | €94,782 | +€27,245 | +40.3% |
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 25 October 2026 via checked.be.