METAVAN REELS: 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.
METAVAN REELS
Largest movements
- Receivables within one year +€264,472
up €264,472 (+27.9%), from €946,425 to €1.2m
of which Other amounts receivable: +€407,807
- Tangible fixed assets -€231,034
down €231,034 (-34.8%), from €663,973 to €432,940
- Cash -€78,535
down €78,535 (-31.8%), from €246,747 to €168,212
mainly Receivables within one year (-€264,472) and Net result for the year (-€238,491)
- Stocks and contracts +€25,624
up €25,624 (+4.0%), from €633,161 to €658,784
- Other debts +€430,319
up €430,319 (+3,308%), from €13,010 to €443,329
- Reserves -€238,411
down €238,411 (-14.9%), from €1.6m to €1.4m
of which Distributable reserves: -€238,411
- Debts after one year -€145,785
down €145,785 (-51.8%), from €281,682 to €135,897
- Current portion of long-term debt -€139,830
down €139,830 (-55.6%), from €251,337 to €111,506
- Trade debts +€117,844
up €117,844 (+60.7%), from €194,203 to €312,047
- Gross operating margin -€212,641
down €212,641 (-25.1%), from €846,917 to €634,276
- Staff costs -€33,395
down €33,395 (-5.7%), from €582,897 to €549,503
- Other operating charges +€23,195
up €23,195 (+560%), from €4,142 to €27,337
- Financial charges -€19,199
down €19,199 (-25.1%), from €76,342 to €57,144
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 | €2,500,619 | €2,502,258 | +€1,639 | +0.1% |
| Fixed assets | 21/28 | €665,963 | €434,189 | -€231,774 | -34.8% |
| Intangible fixed assets | 21 | €1,989 | €1,249 | -€740 | -37.2% |
| Tangible fixed assets | 22/27 | €663,973 | €432,940 | -€231,034 | -34.8% |
| Land and buildings | 22 | €10,436 | €0 | -€10,436 | -100% |
| Plant, machinery and equipment | 23 | €511,244 | €402,231 | -€109,012 | -21.3% |
| Furniture and vehicles | 24 | €59,316 | €15,640 | -€43,675 | -73.6% |
| Leasing and similar rights | 25 | €82,977 | €0 | -€82,977 | -100% |
| Other tangible fixed assets | 26 | - | €15,068 | +€15,068 | |
| Current assets | 29/58 | €1,834,657 | €2,068,070 | +€233,413 | +12.7% |
| Stocks and contracts in progress | 3 | €633,161 | €658,784 | +€25,624 | +4.0% |
| Stocks | 30/36 | €633,161 | €658,784 | +€25,624 | +4.0% |
| Amounts receivable within one year | 40/41 | €946,425 | €1,210,898 | +€264,472 | +27.9% |
| Trade receivables | 40 | €435,754 | €292,420 | -€143,334 | -32.9% |
| Other amounts receivable | 41 | €510,671 | €918,477 | +€407,807 | +79.9% |
| Cash at bank and in hand | 54/58 | €246,747 | €168,212 | -€78,535 | -31.8% |
| Deferred charges and accrued income | 490/1 | €8,324 | €30,176 | +€21,852 | +263% |
| Total equity and liabilities | 10/49 | €2,500,619 | €2,502,258 | +€1,639 | +0.1% |
| Equity | 10/15 | €1,670,572 | €1,425,239 | -€245,333 | -14.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,602,150 | €1,363,739 | -€238,411 | -14.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,596,000 | €1,357,589 | -€238,411 | -14.9% |
| Profit (loss) carried forward | 14 | €80 | €0 | -€80 | -100% |
| Investment grants | 15 | €6,842 | €0 | -€6,842 | -100% |
| Amounts payable | 17/49 | €830,048 | €1,077,020 | +€246,972 | +29.8% |
| Amounts payable after more than one year | 17 | €281,682 | €135,897 | -€145,785 | -51.8% |
| Financial debts | 170/4 | €281,682 | €135,897 | -€145,785 | -51.8% |
| Amounts payable within one year | 42/48 | €548,338 | €938,094 | +€389,757 | +71.1% |
| Current portion of amounts payable after more than one year | 42 | €251,337 | €111,506 | -€139,830 | -55.6% |
| Trade debts | 44 | €194,203 | €312,047 | +€117,844 | +60.7% |
| Suppliers | 440/4 | €194,203 | €312,047 | +€117,844 | +60.7% |
| Taxes, remuneration and social security | 45 | €89,788 | €71,212 | -€18,576 | -20.7% |
| Taxes | 450/3 | €17,079 | €13,520 | -€3,559 | -20.8% |
| Remuneration and social security | 454/9 | €72,709 | €57,692 | -€15,017 | -20.7% |
| Other amounts payable | 47/48 | €13,010 | €443,329 | +€430,319 | +3,308% |
| Accrued charges and deferred income | 492/3 | €28 | €3,029 | +€3,001 | +10,771% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €582,897 | €549,503 | -€33,395 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €244,816 | €249,476 | +€4,659 | +1.9% |
| Other operating charges | 640/8 | €4,142 | €27,337 | +€23,195 | +560% |
| Non-recurring operating charges | 66A | - | €4,460 | +€4,460 | |
| Gross operating margin | 9900 | €846,917 | €634,276 | -€212,641 | -25.1% |
| Operating profit (loss) | 9901 | €15,062 | -€196,499 | -€211,561 | |
| Financial income | 75/76B | €12,913 | €15,659 | +€2,746 | +21.3% |
| Recurring financial income | 75 | €12,913 | €15,659 | +€2,746 | +21.3% |
| Financial charges | 65/66B | €76,342 | €57,144 | -€19,199 | -25.1% |
| Recurring financial charges | 65 | €76,342 | €57,144 | -€19,199 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | -€48,368 | -€237,984 | -€189,616 | -392% |
| Income taxes | 67/77 | €4,104 | €507 | -€3,596 | -87.6% |
| Profit (loss) for the period | 9904 | -€52,471 | -€238,491 | -€186,020 | -355% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,471 | -€238,491 | -€186,020 | -355% |
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 31 October 2026 via checked.be.