REVERSE METALLURGY: 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.
REVERSE METALLURGY
Largest movements
- Receivables within one year +€202,281
up €202,281 (+60.9%), from €332,182 to €534,463
of which Trade receivables: +€146,083
- Current investments -€94,135
down €94,135 (-69.4%), from €135,621 to €41,486
- Trade debts +€138,392
up €138,392 (+90.4%), from €153,130 to €291,521
- Accrued charges and deferred income -€38,200
down €38,200 (-96.7%), from €39,520 to €1,320
- Write-downs -€84,678
down €84,678, from €42,339 to -€42,339
- Gross operating margin -€84,454
down €84,454, from €48,522 to -€35,932
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 | €475,639 | €578,765 | +€103,126 | +21.7% |
| Current assets | 29/58 | €475,639 | €578,765 | +€103,126 | +21.7% |
| Amounts receivable within one year | 40/41 | €332,182 | €534,463 | +€202,281 | +60.9% |
| Trade receivables | 40 | €100,353 | €246,436 | +€146,083 | +145.6% |
| Other amounts receivable | 41 | €231,829 | €288,027 | +€56,198 | +24.2% |
| Current investments | 50/53 | €135,621 | €41,486 | -€94,135 | -69.4% |
| Cash at bank and in hand | 54/58 | €7,836 | €2,816 | -€5,020 | -64.1% |
| Total equity and liabilities | 10/49 | €475,639 | €578,765 | +€103,126 | +21.7% |
| Equity | 10/15 | €54,141 | €57,002 | +€2,861 | +5.3% |
| Contributions | 10/11 | €34,000 | €36,000 | +€2,000 | +5.9% |
| Reserves | 13 | €10,943 | €10,943 | = | 0.0% |
| Distributable reserves | 133 | €10,943 | €10,943 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,199 | €10,059 | +€861 | +9.4% |
| Amounts payable | 17/49 | €421,498 | €521,763 | +€100,266 | +23.8% |
| Amounts payable after more than one year | 17 | €228,752 | €228,752 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Other amounts payable | 178/9 | €128,752 | €128,752 | = | 0.0% |
| Amounts payable within one year | 42/48 | €153,226 | €291,691 | +€138,466 | +90.4% |
| Trade debts | 44 | €153,130 | €291,521 | +€138,392 | +90.4% |
| Suppliers | 440/4 | €153,130 | €291,521 | +€138,392 | +90.4% |
| Taxes, remuneration and social security | 45 | €96 | €170 | +€74 | +77.2% |
| Taxes | 450/3 | €96 | €170 | +€74 | +77.2% |
| Accrued charges and deferred income | 492/3 | €39,520 | €1,320 | -€38,200 | -96.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €42,339 | -€42,339 | -€84,678 | |
| Other operating charges | 640/8 | €707 | €632 | -€75 | -10.6% |
| Gross operating margin | 9900 | €48,522 | -€35,932 | -€84,454 | |
| Operating profit (loss) | 9901 | €5,475 | €5,775 | +€299 | +5.5% |
| Financial income | 75/76B | €733 | €800 | +€67 | +9.2% |
| Recurring financial income | 75 | €733 | €800 | +€67 | +9.2% |
| Financial charges | 65/66B | €5,342 | €5,328 | -€14 | -0.3% |
| Recurring financial charges | 65 | €5,342 | €5,328 | -€14 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €866 | €1,247 | +€381 | +43.9% |
| Income taxes | 67/77 | €246 | €386 | +€141 | +57.2% |
| Profit (loss) for the period | 9904 | €621 | €861 | +€240 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €621 | €861 | +€240 | +38.7% |
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 4 October 2026 via checked.be.