POP METAL: 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.
POP METAL
Largest movements
- Receivables within one year -€194,113
down €194,113 (-23.8%), from €815,891 to €621,778
of which Trade receivables: -€258,363
- Stocks and contracts -€146,082
down €146,082 (-47.6%), from €306,774 to €160,692
of which Contracts in progress: -€148,765
- Cash +€79,944
up €79,944 (+131%), from €61,137 to €141,081
mainly Receivables within one year (+€194,113) and Stocks and contracts (+€146,082)
- Tangible fixed assets -€27,267
down €27,267 (-13.1%), from €207,558 to €180,291
of which Leasing and similar rights: -€61,090
- Short-term financial debts -€199,988
no longer reported in 2025 (was €199,988)
- Tax, wage and social debts -€43,424
down €43,424 (-41.5%), from €104,758 to €61,334
of which Remuneration and social security: -€46,755
- Debts after one year -€32,985
down €32,985 (-31.2%), from €105,653 to €72,668
- Profit (loss) carried forward +€25,527
up €25,527 (+13.3%), from €192,164 to €217,691
- Trade debts -€23,363
down €23,363 (-17.7%), from €132,150 to €108,787
- Gross operating margin -€155,191
down €155,191 (-17.5%), from €885,131 to €729,940
- Staff costs -€85,662
down €85,662 (-12.9%), from €661,740 to €576,078
- Taxes +€12,076
up €12,076 (+211%), from €5,734 to €17,810
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 | €1,410,058 | €1,111,905 | -€298,153 | -21.1% |
| Fixed assets | 21/28 | €219,057 | €184,291 | -€34,765 | -15.9% |
| Intangible fixed assets | 21 | €11,499 | €4,000 | -€7,498 | -65.2% |
| Tangible fixed assets | 22/27 | €207,558 | €180,291 | -€27,267 | -13.1% |
| Plant, machinery and equipment | 23 | €32,850 | €63,708 | +€30,858 | +93.9% |
| Furniture and vehicles | 24 | €3,139 | €6,805 | +€3,665 | +117% |
| Leasing and similar rights | 25 | €170,868 | €109,778 | -€61,090 | -35.8% |
| Other tangible fixed assets | 26 | €701 | - | -€701 | |
| Current assets | 29/58 | €1,191,001 | €927,614 | -€263,387 | -22.1% |
| Stocks and contracts in progress | 3 | €306,774 | €160,692 | -€146,082 | -47.6% |
| Stocks | 30/36 | €114,009 | €116,692 | +€2,683 | +2.4% |
| Contracts in progress | 37 | €192,765 | €44,000 | -€148,765 | -77.2% |
| Amounts receivable within one year | 40/41 | €815,891 | €621,778 | -€194,113 | -23.8% |
| Trade receivables | 40 | €746,251 | €487,888 | -€258,363 | -34.6% |
| Other amounts receivable | 41 | €69,640 | €133,889 | +€64,249 | +92.3% |
| Cash at bank and in hand | 54/58 | €61,137 | €141,081 | +€79,944 | +131% |
| Deferred charges and accrued income | 490/1 | €7,200 | €4,063 | -€3,137 | -43.6% |
| Total equity and liabilities | 10/49 | €1,410,058 | €1,111,905 | -€298,153 | -21.1% |
| Equity | 10/15 | €594,364 | €619,891 | +€25,527 | +4.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €340,200 | €340,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €124,000 | €18,750 | -€105,250 | -84.9% |
| Distributable reserves | 133 | €210,000 | €315,250 | +€105,250 | +50.1% |
| Profit (loss) carried forward | 14 | €192,164 | €217,691 | +€25,527 | +13.3% |
| Amounts payable | 17/49 | €815,694 | €492,014 | -€323,680 | -39.7% |
| Amounts payable after more than one year | 17 | €105,653 | €72,668 | -€32,985 | -31.2% |
| Financial debts | 170/4 | €105,653 | €72,668 | -€32,985 | -31.2% |
| Amounts payable within one year | 42/48 | €703,719 | €419,345 | -€284,373 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | €59,423 | €39,352 | -€20,071 | -33.8% |
| Financial debts | 43 | €199,988 | - | -€199,988 | |
| Credit institutions | 430/8 | €199,988 | - | -€199,988 | |
| Trade debts | 44 | €132,150 | €108,787 | -€23,363 | -17.7% |
| Suppliers | 440/4 | €132,150 | €108,787 | -€23,363 | -17.7% |
| Taxes, remuneration and social security | 45 | €104,758 | €61,334 | -€43,424 | -41.5% |
| Taxes | 450/3 | €8,666 | €11,997 | +€3,332 | +38.4% |
| Remuneration and social security | 454/9 | €96,092 | €49,337 | -€46,755 | -48.7% |
| Other amounts payable | 47/48 | €207,400 | €209,872 | +€2,472 | +1.2% |
| Accrued charges and deferred income | 492/3 | €6,322 | - | -€6,322 | |
| Remuneration, social security and pensions | 62 | €661,740 | €576,078 | -€85,662 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,102 | €88,363 | +€6,261 | +7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,963 | €7,235 | +€3,271 | +82.5% |
| Other operating charges | 640/8 | €3,156 | €2,950 | -€206 | -6.5% |
| Non-recurring operating charges | 66A | €131,170 | - | -€131,170 | |
| Gross operating margin | 9900 | €885,131 | €729,940 | -€155,191 | -17.5% |
| Operating profit (loss) | 9901 | €3,000 | €55,315 | +€52,315 | +1,744% |
| Financial income | 75/76B | €4,336 | €18 | -€4,318 | -99.6% |
| Recurring financial income | 75 | €1,168 | €18 | -€1,150 | -98.5% |
| Non-recurring financial income | 76B | €3,167 | - | -€3,167 | |
| Financial charges | 65/66B | €18,123 | €11,995 | -€6,128 | -33.8% |
| Recurring financial charges | 65 | €18,123 | €11,995 | -€6,128 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,788 | €43,337 | +€54,125 | |
| Income taxes | 67/77 | €5,734 | €17,810 | +€12,076 | +211% |
| Profit (loss) for the period | 9904 | -€16,522 | €25,527 | +€42,049 | |
| Transfer from tax-exempt reserves | 789 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,522 | €130,777 | +€147,299 |
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 27 October 2026 via checked.be.