METAMORFOSE: what changed
METAMORFOSE
Largest movements
- Cash +€41,006
up €41,006 (+40.0%), from €102,575 to €143,580
mainly Current investments (+€40,000) and Depreciation (+€3,827)
- Current investments -€40,000
down €40,000 (-28.6%), from €140,000 to €100,000
- Stocks and contracts -€3,820
down €3,820 (-18.9%), from €20,217 to €16,397
- Reserves +€3,452
up €3,452 (+4.5%), from €77,449 to €80,901
- Tax, wage and social debts -€3,355
down €3,355 (-34.5%), from €9,720 to €6,366
of which Taxes: -€3,443
- Gross operating margin -€7,458
down €7,458 (-20.5%), from €36,308 to €28,850
- Taxes -€2,614
down €2,614 (-56.5%), from €4,628 to €2,014
- Financial income -€1,244
down €1,244 (-53.5%), from €2,323 to €1,079
- Staff costs +€660
up €660 (+3.4%), from €19,340 to €19,999
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,826 | €276,377 | -€2,449 | -0.9% |
| Fixed assets | 21/28 | €7,507 | €5,026 | -€2,481 | -33.0% |
| Tangible fixed assets | 22/27 | €7,507 | €5,026 | -€2,481 | -33.0% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €7,507 | €5,026 | -€2,481 | -33.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €271,319 | €271,351 | +€31 | 0.0% |
| Stocks and contracts in progress | 3 | €20,217 | €16,397 | -€3,820 | -18.9% |
| Stocks | 30/36 | €20,217 | €16,397 | -€3,820 | -18.9% |
| Amounts receivable within one year | 40/41 | €7,991 | €10,751 | +€2,760 | +34.5% |
| Trade receivables | 40 | €7,934 | €8,446 | +€512 | +6.4% |
| Other amounts receivable | 41 | €57 | €2,306 | +€2,249 | +3,963% |
| Current investments | 50/53 | €140,000 | €100,000 | -€40,000 | -28.6% |
| Cash at bank and in hand | 54/58 | €102,575 | €143,580 | +€41,006 | +40.0% |
| Deferred charges and accrued income | 490/1 | €537 | €622 | +€85 | +15.9% |
| Total equity and liabilities | 10/49 | €278,826 | €276,377 | -€2,449 | -0.9% |
| Equity | 10/15 | €160,697 | €164,149 | +€3,452 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,449 | €80,901 | +€3,452 | +4.5% |
| Distributable reserves | 133 | €77,449 | €80,901 | +€3,452 | +4.5% |
| Profit (loss) carried forward | 14 | €64,648 | €64,648 | = | 0.0% |
| Amounts payable | 17/49 | €118,129 | €112,227 | -€5,902 | -5.0% |
| Amounts payable within one year | 42/48 | €118,129 | €112,143 | -€5,986 | -5.1% |
| Trade debts | 44 | €4,217 | €1,586 | -€2,632 | -62.4% |
| Suppliers | 440/4 | €4,217 | €1,586 | -€2,632 | -62.4% |
| Taxes, remuneration and social security | 45 | €9,720 | €6,366 | -€3,355 | -34.5% |
| Taxes | 450/3 | €5,731 | €2,288 | -€3,443 | -60.1% |
| Remuneration and social security | 454/9 | €3,989 | €4,078 | +€88 | +2.2% |
| Other amounts payable | 47/48 | €104,192 | €104,192 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €85 | +€85 | |
| Remuneration, social security and pensions | 62 | €19,340 | €19,999 | +€660 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,636 | €3,827 | +€191 | +5.3% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €36,308 | €28,850 | -€7,458 | -20.5% |
| Operating profit (loss) | 9901 | €12,883 | €4,562 | -€8,321 | -64.6% |
| Financial income | 75/76B | €2,323 | €1,079 | -€1,244 | -53.5% |
| Recurring financial income | 75 | €2,323 | €1,079 | -€1,244 | -53.5% |
| Financial charges | 65/66B | €400 | €174 | -€226 | -56.5% |
| Recurring financial charges | 65 | €400 | €174 | -€226 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €14,806 | €5,467 | -€9,339 | -63.1% |
| Income taxes | 67/77 | €4,628 | €2,014 | -€2,614 | -56.5% |
| Profit (loss) for the period | 9904 | €10,177 | €3,452 | -€6,725 | -66.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,177 | €3,452 | -€6,725 | -66.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.