METAPHORE: what changed
Two fiscal 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.
METAPHORE
Largest movements
- Cash +€78,173
up €78,173 (+3885.4%), from €2,012 to €80,185
mainly Depreciation (+€93,916) and Other debts (+€9,928)
- Intangible fixed assets -€49,715
no longer reported in 2025 (was €49,715)
- Tangible fixed assets -€44,201
down €44,201 (-5.9%), from €746,910 to €702,709
of which Land and buildings: -€36,474
- Reserves -€17,032
down €17,032 (-10.0%), from €170,375 to €153,343
of which Tax-exempt reserves: -€17,032
- Other debts +€9,928
up €9,928 (+7.7%), from €129,171 to €139,099
- Depreciation +€45,833
up €45,833 (+95.3%), from €48,083 to €93,916
- Gross operating margin +€15,568
up €15,568 (+20.8%), from €74,775 to €90,342
- Taxes -€9,293
down €9,293 (-77.3%), from €12,018 to €2,725
- Other operating charges +€2,264
up €2,264 (+30.8%), from €7,354 to €9,618
- Financial charges +€2,060
up €2,060 (+44.0%), from €4,678 to €6,738
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 | €803,129 | €786,540 | -€16,589 | -2.1% |
| Fixed assets | 21/28 | €796,871 | €702,955 | -€93,916 | -11.8% |
| Intangible fixed assets | 21 | €49,715 | - | -€49,715 | |
| Tangible fixed assets | 22/27 | €746,910 | €702,709 | -€44,201 | -5.9% |
| Land and buildings | 22 | €725,447 | €688,973 | -€36,474 | -5.0% |
| Furniture and vehicles | 24 | €7,372 | €1,695 | -€5,676 | -77.0% |
| Other tangible fixed assets | 26 | €14,092 | €12,042 | -€2,050 | -14.5% |
| Financial fixed assets | 28 | €246 | €246 | = | 0.0% |
| Current assets | 29/58 | €6,259 | €83,585 | +€77,326 | +1235.5% |
| Amounts receivable within one year | 40/41 | €3,634 | €1,214 | -€2,419 | -66.6% |
| Trade receivables | 40 | €3,304 | €665 | -€2,639 | -79.9% |
| Other amounts receivable | 41 | €329 | €549 | +€220 | +66.8% |
| Cash at bank and in hand | 54/58 | €2,012 | €80,185 | +€78,173 | +3885.4% |
| Deferred charges and accrued income | 490/1 | €613 | €2,186 | +€1,573 | +256.5% |
| Total equity and liabilities | 10/49 | €803,129 | €786,540 | -€16,589 | -2.1% |
| Equity | 10/15 | €352,684 | €337,090 | -€15,594 | -4.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €170,375 | €153,343 | -€17,032 | -10.0% |
| Tax-exempt reserves | 132 | €168,515 | €151,483 | -€17,032 | -10.1% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,109 | €177,547 | +€1,438 | +0.8% |
| Provisions and deferred taxes | 16 | €70,785 | €63,631 | -€7,154 | -10.1% |
| Deferred taxes | 168 | €70,785 | €63,631 | -€7,154 | -10.1% |
| Amounts payable | 17/49 | €379,660 | €385,819 | +€6,159 | +1.6% |
| Amounts payable after more than one year | 17 | €215,000 | €215,000 | = | 0.0% |
| Other amounts payable | 178/9 | €215,000 | €215,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €160,280 | €169,639 | +€9,359 | +5.8% |
| Trade debts | 44 | €2,444 | €6,628 | +€4,183 | +171.1% |
| Suppliers | 440/4 | €2,444 | €6,628 | +€4,183 | +171.1% |
| Taxes, remuneration and social security | 45 | €28,665 | €23,912 | -€4,753 | -16.6% |
| Taxes | 450/3 | €28,665 | €23,912 | -€4,753 | -16.6% |
| Other amounts payable | 47/48 | €129,171 | €139,099 | +€9,928 | +7.7% |
| Accrued charges and deferred income | 492/3 | €4,380 | €1,180 | -€3,200 | -73.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,083 | €93,916 | +€45,833 | +95.3% |
| Other operating charges | 640/8 | €7,354 | €9,618 | +€2,264 | +30.8% |
| Non-recurring operating charges | 66A | - | €159 | +€159 | |
| Gross operating margin | 9900 | €74,775 | €90,342 | +€15,568 | +20.8% |
| Operating profit (loss) | 9901 | €19,338 | -€13,350 | -€32,688 | |
| Financial income | 75/76B | €183 | €65 | -€118 | -64.4% |
| Recurring financial income | 75 | €183 | €65 | -€118 | -64.4% |
| Financial charges | 65/66B | €4,678 | €6,738 | +€2,060 | +44.0% |
| Recurring financial charges | 65 | €4,678 | €6,738 | +€2,060 | +44.0% |
| Profit (loss) for the period before taxes | 9903 | €14,843 | -€20,023 | -€34,866 | |
| Transfer from deferred taxes | 780 | €7,154 | €7,154 | = | 0.0% |
| Income taxes | 67/77 | €12,018 | €2,725 | -€9,293 | -77.3% |
| Profit (loss) for the period | 9904 | €9,979 | -€15,594 | -€25,573 | |
| Transfer from tax-exempt reserves | 789 | €17,032 | €17,032 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,011 | €1,438 | -€25,573 | -94.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.