METTLE TRAIL: 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.
METTLE TRAIL
Largest movements
- Current investments +€125,000
new in 2025: €125,000
- Receivables within one year +€86,217
up €86,217 (+292.1%), from €29,519 to €115,736
of which Trade receivables: +€89,384
- Tangible fixed assets -€10,626
down €10,626 (-20.6%), from €51,697 to €41,071
of which Furniture and vehicles: -€9,894
- Reserves +€163,384
up €163,384 (+110.4%), from €148,026 to €311,410
- Tax, wage and social debts +€34,345
up €34,345 (+85.1%), from €40,365 to €74,710
- Gross operating margin +€108,658
up €108,658 (+95.0%), from €114,332 to €222,990
- Taxes +€24,583
up €24,583 (+97.9%), from €25,105 to €49,688
- Depreciation +€9,193
up €9,193 (+641.2%), from €1,434 to €10,626
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 | €197,094 | €396,603 | +€199,509 | +101.2% |
| Fixed assets | 21/28 | €51,697 | €41,071 | -€10,626 | -20.6% |
| Tangible fixed assets | 22/27 | €51,697 | €41,071 | -€10,626 | -20.6% |
| Furniture and vehicles | 24 | €48,118 | €38,224 | -€9,894 | -20.6% |
| Other tangible fixed assets | 26 | €3,579 | €2,847 | -€732 | -20.5% |
| Current assets | 29/58 | €145,397 | €355,532 | +€210,135 | +144.5% |
| Amounts receivable within one year | 40/41 | €29,519 | €115,736 | +€86,217 | +292.1% |
| Trade receivables | 40 | €25,766 | €115,151 | +€89,384 | +346.9% |
| Other amounts receivable | 41 | €3,753 | €585 | -€3,168 | -84.4% |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €114,383 | €112,493 | -€1,890 | -1.7% |
| Deferred charges and accrued income | 490/1 | €1,494 | €2,303 | +€809 | +54.2% |
| Total equity and liabilities | 10/49 | €197,094 | €396,603 | +€199,509 | +101.2% |
| Equity | 10/15 | €154,026 | €317,410 | +€163,384 | +106.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €148,026 | €311,410 | +€163,384 | +110.4% |
| Distributable reserves | 133 | €148,026 | €311,410 | +€163,384 | +110.4% |
| Amounts payable | 17/49 | €43,068 | €79,193 | +€36,125 | +83.9% |
| Amounts payable within one year | 42/48 | €41,809 | €78,709 | +€36,899 | +88.3% |
| Trade debts | 44 | €0 | €3,476 | +€3,476 | |
| Suppliers | 440/4 | €0 | €3,476 | +€3,476 | |
| Taxes, remuneration and social security | 45 | €40,365 | €74,710 | +€34,345 | +85.1% |
| Taxes | 450/3 | €40,365 | €74,710 | +€34,345 | +85.1% |
| Other amounts payable | 47/48 | €1,444 | €522 | -€922 | -63.8% |
| Accrued charges and deferred income | 492/3 | €1,259 | €485 | -€774 | -61.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,434 | €10,626 | +€9,193 | +641.2% |
| Other operating charges | 640/8 | - | €118 | +€118 | |
| Non-recurring operating charges | 66A | - | €137 | +€137 | |
| Gross operating margin | 9900 | €114,332 | €222,990 | +€108,658 | +95.0% |
| Operating profit (loss) | 9901 | €112,898 | €212,109 | +€99,211 | +87.9% |
| Financial income | 75/76B | €1 | €1,033 | +€1,032 | +158838.5% |
| Recurring financial income | 75 | €1 | €1,033 | +€1,032 | +158838.5% |
| Financial charges | 65/66B | €73 | €70 | -€3 | -3.7% |
| Recurring financial charges | 65 | €73 | €70 | -€3 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €112,826 | €213,072 | +€100,246 | +88.8% |
| Income taxes | 67/77 | €25,105 | €49,688 | +€24,583 | +97.9% |
| Profit (loss) for the period | 9904 | €87,721 | €163,384 | +€75,663 | +86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €87,721 | €163,384 | +€75,663 | +86.3% |
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 1 October 2026 via checked.be.