METALOR: 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.
METALOR
Largest movements
- Stocks and contracts +€45,782
up €45,782 (+8.8%), from €520,558 to €566,340
- Cash -€21,790
down €21,790 (-32.2%), from €67,739 to €45,949
mainly Short-term financial debts (-€75,895) and Stocks and contracts (-€45,782)
- Receivables within one year -€21,618
down €21,618 (-15.8%), from €136,996 to €115,378
of which Trade receivables: -€21,710
- Tangible fixed assets -€19,339
down €19,339 (-4.3%), from €445,127 to €425,788
of which Furniture and vehicles: -€20,366
- Short-term financial debts -€75,895
down €75,895 (-30.4%), from €250,000 to €174,105
- Debts after one year +€66,216
up €66,216 (+283%), from €23,364 to €89,580
- Trade debts -€15,869
down €15,869 (-27.6%), from €57,513 to €41,644
- Gross operating margin -€56,601
down €56,601 (-23.1%), from €245,262 to €188,661
- Staff costs -€31,401
down €31,401 (-20.3%), from €154,947 to €123,546
- Depreciation -€5,863
down €5,863 (-19.7%), from €29,702 to €23,839
- Taxes +€2,509
up €2,509 (+50.2%), from €5,000 to €7,509
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 | €1,207,911 | €1,188,090 | -€19,821 | -1.6% |
| Fixed assets | 21/28 | €474,901 | €454,339 | -€20,562 | -4.3% |
| Tangible fixed assets | 22/27 | €445,127 | €425,788 | -€19,339 | -4.3% |
| Land and buildings | 22 | €13,809 | €11,162 | -€2,647 | -19.2% |
| Plant, machinery and equipment | 23 | - | €3,674 | +€3,674 | |
| Furniture and vehicles | 24 | €40,668 | €20,302 | -€20,366 | -50.1% |
| Other tangible fixed assets | 26 | €390,650 | €390,650 | = | 0.0% |
| Financial fixed assets | 28 | €29,774 | €28,551 | -€1,223 | -4.1% |
| Current assets | 29/58 | €733,010 | €733,751 | +€741 | +0.1% |
| Stocks and contracts in progress | 3 | €520,558 | €566,340 | +€45,782 | +8.8% |
| Stocks | 30/36 | €520,558 | €566,340 | +€45,782 | +8.8% |
| Amounts receivable within one year | 40/41 | €136,996 | €115,378 | -€21,618 | -15.8% |
| Trade receivables | 40 | €136,862 | €115,152 | -€21,710 | -15.9% |
| Other amounts receivable | 41 | €134 | €226 | +€92 | +68.7% |
| Cash at bank and in hand | 54/58 | €67,739 | €45,949 | -€21,790 | -32.2% |
| Deferred charges and accrued income | 490/1 | €7,717 | €6,084 | -€1,633 | -21.2% |
| Total equity and liabilities | 10/49 | €1,207,911 | €1,188,090 | -€19,821 | -1.6% |
| Equity | 10/15 | €792,125 | €796,856 | +€4,731 | +0.6% |
| Contributions | 10/11 | €452,650 | €452,650 | = | 0.0% |
| Capital | 10 | €452,650 | €452,650 | = | 0.0% |
| Issued capital | 100 | €452,650 | €452,650 | = | 0.0% |
| Reserves | 13 | €56,955 | €57,191 | +€236 | +0.4% |
| Non-distributable reserves | 130/1 | €18,519 | €18,755 | +€236 | +1.3% |
| Legal reserve | 130 | €18,519 | €18,755 | +€236 | +1.3% |
| Distributable reserves | 133 | €38,436 | €38,436 | = | 0.0% |
| Profit (loss) carried forward | 14 | €282,520 | €287,015 | +€4,495 | +1.6% |
| Amounts payable | 17/49 | €415,786 | €391,234 | -€24,552 | -5.9% |
| Amounts payable after more than one year | 17 | €23,364 | €89,580 | +€66,216 | +283% |
| Financial debts | 170/4 | €23,364 | €89,580 | +€66,216 | +283% |
| Amounts payable within one year | 42/48 | €391,531 | €300,692 | -€90,839 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €39,938 | €47,176 | +€7,238 | +18.1% |
| Financial debts | 43 | €250,000 | €174,105 | -€75,895 | -30.4% |
| Credit institutions | 430/8 | €250,000 | €174,105 | -€75,895 | -30.4% |
| Trade debts | 44 | €57,513 | €41,644 | -€15,869 | -27.6% |
| Suppliers | 440/4 | €57,513 | €41,644 | -€15,869 | -27.6% |
| Taxes, remuneration and social security | 45 | €22,063 | €12,349 | -€9,714 | -44.0% |
| Taxes | 450/3 | €16,917 | €11,681 | -€5,236 | -31.0% |
| Remuneration and social security | 454/9 | €5,146 | €668 | -€4,478 | -87.0% |
| Other amounts payable | 47/48 | €22,017 | €25,418 | +€3,401 | +15.4% |
| Accrued charges and deferred income | 492/3 | €891 | €962 | +€71 | +8.0% |
| Remuneration, social security and pensions | 62 | €154,947 | €123,546 | -€31,401 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,702 | €23,839 | -€5,863 | -19.7% |
| Other operating charges | 640/8 | €9,666 | €7,463 | -€2,203 | -22.8% |
| Gross operating margin | 9900 | €245,262 | €188,661 | -€56,601 | -23.1% |
| Operating profit (loss) | 9901 | €50,947 | €33,813 | -€17,134 | -33.6% |
| Financial income | 75/76B | €3,768 | €4,322 | +€554 | +14.7% |
| Recurring financial income | 75 | €3,768 | €4,322 | +€554 | +14.7% |
| Financial charges | 65/66B | €25,064 | €25,895 | +€831 | +3.3% |
| Recurring financial charges | 65 | €25,064 | €25,895 | +€831 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €29,651 | €12,240 | -€17,411 | -58.7% |
| Income taxes | 67/77 | €5,000 | €7,509 | +€2,509 | +50.2% |
| Profit (loss) for the period | 9904 | €24,651 | €4,731 | -€19,920 | -80.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,651 | €4,731 | -€19,920 | -80.8% |
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 29 October 2026 via checked.be.