METALFOR: 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.
METALFOR
Largest movements
- Cash +€1.3m
up €1.3m (+26.4%), from €5.0m to €6.3m
mainly Net result for the year (+€1.6m) and Depreciation (+€483,552)
- Receivables within one year -€301,275
down €301,275 (-46.9%), from €642,417 to €341,143
of which Trade receivables: -€503,513
- Deferred charges and accrued income -€142,182
down €142,182 (-91.5%), from €155,368 to €13,185
- Reserves +€1.6m
up €1.6m (+18.8%), from €8.4m to €10.0m
of which Distributable reserves: +€1.6m
- Tax, wage and social debts -€463,467
down €463,467 (-72.5%), from €639,286 to €175,819
of which Taxes: -€463,107
- Trade debts -€245,700
down €245,700 (-94.8%), from €259,072 to €13,372
- Gross operating margin -€986,296
down €986,296 (-26.7%), from €3.7m to €2.7m
- Taxes -€324,798
down €324,798 (-32.0%), from €1.0m to €689,983
- Financial income +€93,576
up €93,576 (+299%), from €31,292 to €124,868
of which Financial income: +€87,790
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 | €9,817,591 | €10,684,132 | +€866,541 | +8.8% |
| Fixed assets | 21/28 | €2,594,177 | €2,541,251 | -€52,926 | -2.0% |
| Tangible fixed assets | 22/27 | €1,912,737 | €1,859,811 | -€52,926 | -2.8% |
| Land and buildings | 22 | €699,039 | €670,170 | -€28,869 | -4.1% |
| Plant, machinery and equipment | 23 | €118,696 | €99,376 | -€19,319 | -16.3% |
| Furniture and vehicles | 24 | €1,095,002 | €1,085,355 | -€9,647 | -0.9% |
| Other tangible fixed assets | 26 | - | €4,909 | +€4,909 | |
| Financial fixed assets | 28 | €681,440 | €681,440 | = | 0.0% |
| Current assets | 29/58 | €7,223,414 | €8,142,880 | +€919,466 | +12.7% |
| Stocks and contracts in progress | 3 | €423,466 | €423,466 | = | 0.0% |
| Stocks | 30/36 | €423,466 | €423,466 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €642,417 | €341,143 | -€301,275 | -46.9% |
| Trade receivables | 40 | €600,742 | €97,229 | -€503,513 | -83.8% |
| Other amounts receivable | 41 | €41,675 | €243,914 | +€202,239 | +485% |
| Current investments | 50/53 | €999,038 | €1,040,382 | +€41,344 | +4.1% |
| Cash at bank and in hand | 54/58 | €5,003,125 | €6,324,704 | +€1.3m | +26.4% |
| Deferred charges and accrued income | 490/1 | €155,368 | €13,185 | -€142,182 | -91.5% |
| Total equity and liabilities | 10/49 | €9,817,591 | €10,684,132 | +€866,541 | +8.8% |
| Equity | 10/15 | €8,914,726 | €10,493,727 | +€1.6m | +17.7% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €8,414,726 | €9,993,727 | +€1.6m | +18.8% |
| Non-distributable reserves | 130/1 | €230,000 | €230,000 | = | 0.0% |
| Legal reserve | 130 | €230,000 | €230,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €451 | €451 | = | 0.0% |
| Distributable reserves | 133 | €8,184,275 | €9,763,276 | +€1.6m | +19.3% |
| Amounts payable | 17/49 | €902,865 | €190,404 | -€712,461 | -78.9% |
| Amounts payable within one year | 42/48 | €899,108 | €189,941 | -€709,167 | -78.9% |
| Trade debts | 44 | €259,072 | €13,372 | -€245,700 | -94.8% |
| Suppliers | 440/4 | €259,072 | €13,372 | -€245,700 | -94.8% |
| Taxes, remuneration and social security | 45 | €639,286 | €175,819 | -€463,467 | -72.5% |
| Taxes | 450/3 | €638,439 | €175,332 | -€463,107 | -72.5% |
| Remuneration and social security | 454/9 | €847 | €487 | -€360 | -42.5% |
| Other amounts payable | 47/48 | €750 | €750 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,757 | €464 | -€3,293 | -87.7% |
| Remuneration, social security and pensions | 62 | €14,949 | €14,402 | -€548 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480,065 | €483,552 | +€3,487 | +0.7% |
| Other operating charges | 640/8 | €63,294 | €54,438 | -€8,856 | -14.0% |
| Non-recurring operating charges | 66A | €2,225 | €2,551 | +€326 | +14.7% |
| Gross operating margin | 9900 | €3,692,285 | €2,705,990 | -€986,296 | -26.7% |
| Operating profit (loss) | 9901 | €3,131,752 | €2,151,047 | -€980,705 | -31.3% |
| Financial income | 75/76B | €31,292 | €124,868 | +€93,576 | +299% |
| Recurring financial income | 75 | €31,292 | €119,082 | +€87,790 | +281% |
| Non-recurring financial income | 76B | - | €5,786 | +€5,786 | |
| Financial charges | 65/66B | €4,909 | €6,931 | +€2,022 | +41.2% |
| Recurring financial charges | 65 | €4,909 | €6,136 | +€1,227 | +25.0% |
| Non-recurring financial charges | 66B | - | €795 | +€795 | |
| Profit (loss) for the period before taxes | 9903 | €3,158,135 | €2,268,984 | -€889,151 | -28.2% |
| Income taxes | 67/77 | €1,014,782 | €689,983 | -€324,798 | -32.0% |
| Profit (loss) for the period | 9904 | €2,143,353 | €1,579,001 | -€564,352 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,143,353 | €1,579,001 | -€564,352 | -26.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.