METSERS - BUELENS: 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.
METSERS - BUELENS
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Cash -€107,429
down €107,429 (-78.7%), from €136,570 to €29,141
mainly Current investments (-€200,000) and Investment in fixed assets (net) (-€22,957)
- Tangible fixed assets +€17,836
up €17,836 (+138%), from €12,897 to €30,734
of which Land and buildings: +€21,093
- Receivables within one year -€10,050
down €10,050 (-38.3%), from €26,231 to €16,182
of which Trade receivables: -€5,820
- Reserves +€81,876
up €81,876 (+47.4%), from €172,595 to €254,471
- Other debts +€18,150
up €18,150 (+1,056%), from €1,718 to €19,868
- Gross operating margin -€118,409
down €118,409 (-51.3%), from €231,017 to €112,608
- Taxes -€30,791
down €30,791 (-57.9%), from €53,151 to €22,360
- Depreciation +€3,260
up €3,260 (+175%), from €1,861 to €5,121
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 | €180,198 | €280,319 | +€100,122 | +55.6% |
| Fixed assets | 21/28 | €12,897 | €30,734 | +€17,836 | +138% |
| Tangible fixed assets | 22/27 | €12,897 | €30,734 | +€17,836 | +138% |
| Land and buildings | 22 | €2,212 | €23,304 | +€21,093 | +954% |
| Plant, machinery and equipment | 23 | €2,412 | €1,635 | -€777 | -32.2% |
| Furniture and vehicles | 24 | €8,273 | €5,794 | -€2,479 | -30.0% |
| Current assets | 29/58 | €167,301 | €249,586 | +€82,285 | +49.2% |
| Amounts receivable within one year | 40/41 | €26,231 | €16,182 | -€10,050 | -38.3% |
| Trade receivables | 40 | €14,362 | €8,542 | -€5,820 | -40.5% |
| Other amounts receivable | 41 | €11,869 | €7,640 | -€4,230 | -35.6% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €136,570 | €29,141 | -€107,429 | -78.7% |
| Deferred charges and accrued income | 490/1 | €4,499 | €4,263 | -€237 | -5.3% |
| Total equity and liabilities | 10/49 | €180,198 | €280,319 | +€100,122 | +55.6% |
| Equity | 10/15 | €177,595 | €259,471 | +€81,876 | +46.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €172,595 | €254,471 | +€81,876 | +47.4% |
| Distributable reserves | 133 | €172,595 | €254,471 | +€81,876 | +47.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,603 | €20,848 | +€18,245 | +701% |
| Amounts payable within one year | 42/48 | €2,603 | €20,848 | +€18,245 | +701% |
| Trade debts | 44 | €885 | €980 | +€95 | +10.7% |
| Suppliers | 440/4 | €885 | €980 | +€95 | +10.7% |
| Other amounts payable | 47/48 | €1,718 | €19,868 | +€18,150 | +1,056% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,861 | €5,121 | +€3,260 | +175% |
| Other operating charges | 640/8 | €502 | €507 | +€5 | +1.0% |
| Gross operating margin | 9900 | €231,017 | €112,608 | -€118,409 | -51.3% |
| Operating profit (loss) | 9901 | €228,654 | €106,980 | -€121,674 | -53.2% |
| Financial income | 75/76B | €218 | €0 | -€218 | -100.0% |
| Recurring financial income | 75 | €218 | €0 | -€218 | -100.0% |
| Financial charges | 65/66B | €1,408 | €1,077 | -€331 | -23.5% |
| Recurring financial charges | 65 | €1,408 | €1,077 | -€331 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €227,464 | €105,903 | -€121,561 | -53.4% |
| Income taxes | 67/77 | €53,151 | €22,360 | -€30,791 | -57.9% |
| Profit (loss) for the period | 9904 | €174,313 | €83,542 | -€90,770 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €174,313 | €83,542 | -€90,770 | -52.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.