METAPAK: 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.
METAPAK
Largest movements
- Receivables within one year +€367,088
up €367,088 (+119.8%), from €306,440 to €673,528
of which Trade receivables: +€373,970
- Tangible fixed assets +€188,095
up €188,095 (+67.4%), from €278,935 to €467,031
of which Plant, machinery and equipment: +€191,095
- Reserves +€229,784
up €229,784 (+85.8%), from €267,870 to €497,654
of which Distributable reserves: +€229,784
- Profit (loss) carried forward +€151,322
no longer reported in 2025 (was -€151,322)
- Debts after one year +€84,586
up €84,586 (+217.4%), from €38,906 to €123,492
- Short-term financial debts +€73,688
up €73,688 (+609.8%), from €12,084 to €85,772
- Trade debts -€35,133
down €35,133 (-13.6%), from €258,303 to €223,170
- Gross operating margin +€469,613
up €469,613 (+306.5%), from €153,224 to €622,837
- Taxes +€90,089
up €90,089 (+47377.9%), from €190 to €90,279
- Depreciation +€25,518
up €25,518 (+61.7%), from €41,387 to €66,905
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.
Cash bridge derived
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 | €606,382 | €1,151,028 | +€544,647 | +89.8% |
| Fixed assets | 21/28 | €281,385 | €469,481 | +€188,095 | +66.8% |
| Tangible fixed assets | 22/27 | €278,935 | €467,031 | +€188,095 | +67.4% |
| Plant, machinery and equipment | 23 | €270,435 | €461,531 | +€191,095 | +70.7% |
| Furniture and vehicles | 24 | €8,500 | €5,500 | -€3,000 | -35.3% |
| Financial fixed assets | 28 | €2,450 | €2,450 | = | 0.0% |
| Current assets | 29/58 | €324,996 | €681,548 | +€356,551 | +109.7% |
| Amounts receivable within one year | 40/41 | €306,440 | €673,528 | +€367,088 | +119.8% |
| Trade receivables | 40 | €238,437 | €612,407 | +€373,970 | +156.8% |
| Other amounts receivable | 41 | €68,002 | €61,121 | -€6,881 | -10.1% |
| Cash at bank and in hand | 54/58 | €18,192 | €6,839 | -€11,353 | -62.4% |
| Deferred charges and accrued income | 490/1 | €365 | €1,181 | +€816 | +223.7% |
| Total equity and liabilities | 10/49 | €606,382 | €1,151,028 | +€544,647 | +89.8% |
| Equity | 10/15 | €245,848 | €626,954 | +€381,106 | +155.0% |
| Contributions | 10/11 | €129,300 | €129,300 | = | 0.0% |
| Reserves | 13 | €267,870 | €497,654 | +€229,784 | +85.8% |
| Non-distributable reserves | 130/1 | €12,930 | €12,930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,930 | €12,930 | = | 0.0% |
| Distributable reserves | 133 | €254,940 | €484,724 | +€229,784 | +90.1% |
| Profit (loss) carried forward | 14 | -€151,322 | - | +€151,322 | |
| Amounts payable | 17/49 | €360,533 | €524,075 | +€163,541 | +45.4% |
| Amounts payable after more than one year | 17 | €38,906 | €123,492 | +€84,586 | +217.4% |
| Financial debts | 170/4 | €38,906 | €123,492 | +€84,586 | +217.4% |
| Amounts payable within one year | 42/48 | €321,627 | €400,583 | +€78,955 | +24.5% |
| Current portion of amounts payable after more than one year | 42 | €33,324 | €54,498 | +€21,174 | +63.5% |
| Financial debts | 43 | €12,084 | €85,772 | +€73,688 | +609.8% |
| Credit institutions | 430/8 | €12,084 | €85,772 | +€73,688 | +609.8% |
| Trade debts | 44 | €258,303 | €223,170 | -€35,133 | -13.6% |
| Suppliers | 440/4 | €258,303 | €223,170 | -€35,133 | -13.6% |
| Taxes, remuneration and social security | 45 | €17,917 | €37,143 | +€19,227 | +107.3% |
| Taxes | 450/3 | €9,345 | €29,761 | +€20,416 | +218.5% |
| Remuneration and social security | 454/9 | €8,572 | €7,383 | -€1,189 | -13.9% |
| Non-recurring operating income | 76A | - | €226 | +€226 | |
| Remuneration, social security and pensions | 62 | €81,475 | €80,581 | -€895 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,387 | €66,905 | +€25,518 | +61.7% |
| Other operating charges | 640/8 | €1,951 | €1,915 | -€36 | -1.9% |
| Gross operating margin | 9900 | €153,224 | €622,837 | +€469,613 | +306.5% |
| Operating profit (loss) | 9901 | €28,411 | €473,437 | +€445,026 | +1566.4% |
| Financial income | 75/76B | €1,456 | €1,063 | -€393 | -27.0% |
| Recurring financial income | 75 | €1,456 | €1,063 | -€393 | -27.0% |
| Financial charges | 65/66B | €1,313 | €3,115 | +€1,802 | +137.2% |
| Recurring financial charges | 65 | €1,313 | €3,115 | +€1,802 | +137.2% |
| Profit (loss) for the period before taxes | 9903 | €28,554 | €471,385 | +€442,831 | +1550.9% |
| Income taxes | 67/77 | €190 | €90,279 | +€90,089 | +47377.9% |
| Profit (loss) for the period | 9904 | €28,364 | €381,106 | +€352,742 | +1243.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,364 | €381,106 | +€352,742 | +1243.6% |
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 9 October 2026 via checked.be.