Metalu: 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.
Metalu
Largest movements
- Tangible fixed assets -€32,152
down €32,152 (-7.4%), from €433,868 to €401,716
- Cash -€14,216
down €14,216 (-31.0%), from €45,803 to €31,587
mainly Trade debts (-€43,200) and Debts after one year (-€18,999)
- Receivables within one year +€11,619
up €11,619 (+14.3%), from €81,492 to €93,111
of which Trade receivables: +€10,243
- Profit (loss) carried forward +€60,813
up €60,813 (+19.4%), from €313,034 to €373,847
- Trade debts -€43,200
down €43,200 (-83.4%), from €51,777 to €8,578
- Debts after one year -€18,999
down €18,999 (-8.4%), from €227,039 to €208,040
- Current portion of long-term debt -€16,677
down €16,677 (-46.7%), from €35,676 to €18,999
- Gross operating margin -€17,195
down €17,195 (-6.3%), from €272,706 to €255,511
- Staff costs +€7,133
up €7,133 (+5.8%), from €123,738 to €130,871
- Taxes -€5,541
down €5,541 (-19.7%), from €28,171 to €22,629
- Depreciation +€4,982
up €4,982 (+18.3%), from €27,169 to €32,152
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 | €917,194 | €889,615 | -€27,579 | -3.0% |
| Fixed assets | 21/28 | €433,868 | €401,716 | -€32,152 | -7.4% |
| Tangible fixed assets | 22/27 | €433,868 | €401,716 | -€32,152 | -7.4% |
| Land and buildings | 22 | €368,667 | €353,378 | -€15,290 | -4.1% |
| Plant, machinery and equipment | 23 | €13,427 | €8,606 | -€4,821 | -35.9% |
| Furniture and vehicles | 24 | €51,773 | €39,732 | -€12,041 | -23.3% |
| Current assets | 29/58 | €483,326 | €487,898 | +€4,572 | +0.9% |
| Stocks and contracts in progress | 3 | €356,031 | €363,200 | +€7,169 | +2.0% |
| Stocks | 30/36 | €356,031 | €363,200 | +€7,169 | +2.0% |
| Amounts receivable within one year | 40/41 | €81,492 | €93,111 | +€11,619 | +14.3% |
| Trade receivables | 40 | €81,403 | €91,646 | +€10,243 | +12.6% |
| Other amounts receivable | 41 | €88 | €1,465 | +€1,376 | +1,555% |
| Cash at bank and in hand | 54/58 | €45,803 | €31,587 | -€14,216 | -31.0% |
| Total equity and liabilities | 10/49 | €917,194 | €889,615 | -€27,579 | -3.0% |
| Equity | 10/15 | €583,881 | €644,694 | +€60,813 | +10.4% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €95,847 | €95,847 | = | 0.0% |
| Distributable reserves | 133 | €95,847 | €95,847 | = | 0.0% |
| Profit (loss) carried forward | 14 | €313,034 | €373,847 | +€60,813 | +19.4% |
| Amounts payable | 17/49 | €333,313 | €244,921 | -€88,392 | -26.5% |
| Amounts payable after more than one year | 17 | €227,039 | €208,040 | -€18,999 | -8.4% |
| Financial debts | 170/4 | €227,039 | €208,040 | -€18,999 | -8.4% |
| Amounts payable within one year | 42/48 | €102,399 | €36,881 | -€65,518 | -64.0% |
| Current portion of amounts payable after more than one year | 42 | €35,676 | €18,999 | -€16,677 | -46.7% |
| Trade debts | 44 | €51,777 | €8,578 | -€43,200 | -83.4% |
| Suppliers | 440/4 | €51,777 | €8,578 | -€43,200 | -83.4% |
| Taxes, remuneration and social security | 45 | €14,946 | €9,304 | -€5,642 | -37.7% |
| Taxes | 450/3 | €12,137 | €6,325 | -€5,812 | -47.9% |
| Remuneration and social security | 454/9 | €2,808 | €2,979 | +€170 | +6.1% |
| Accrued charges and deferred income | 492/3 | €3,875 | - | -€3,875 | |
| Remuneration, social security and pensions | 62 | €123,738 | €130,871 | +€7,133 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,169 | €32,152 | +€4,982 | +18.3% |
| Other operating charges | 640/8 | €4,857 | €4,865 | +€8 | +0.2% |
| Non-recurring operating charges | 66A | €3,733 | €99 | -€3,634 | -97.3% |
| Gross operating margin | 9900 | €272,706 | €255,511 | -€17,195 | -6.3% |
| Operating profit (loss) | 9901 | €113,209 | €87,524 | -€25,684 | -22.7% |
| Financial charges | 65/66B | €5,095 | €4,082 | -€1,013 | -19.9% |
| Recurring financial charges | 65 | €5,095 | €4,082 | -€1,013 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €108,114 | €83,442 | -€24,671 | -22.8% |
| Income taxes | 67/77 | €28,171 | €22,629 | -€5,541 | -19.7% |
| Profit (loss) for the period | 9904 | €79,943 | €60,813 | -€19,130 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €79,943 | €60,813 | -€19,130 | -23.9% |
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 15 October 2026 via checked.be.