T-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.
T-METAL
Largest movements
- Cash -€21,063
down €21,063 (-79.1%), from €26,618 to €5,555
mainly Trade debts (-€76,590) and Advances received (-€17,000)
- Tangible fixed assets -€14,604
down €14,604 (-20.6%), from €70,766 to €56,162
of which Furniture and vehicles: -€12,222
- Receivables within one year +€9,500
up €9,500 (+4.1%), from €232,744 to €242,244
of which Other amounts receivable: +€101,158
- Stocks and contracts +€5,275
up €5,275 (+11.2%), from €47,035 to €52,310
- Trade debts -€76,590
down €76,590 (-43.7%), from €175,163 to €98,573
- Debts after one year +€34,663
up €34,663 (+90.1%), from €38,491 to €73,153
- Current portion of long-term debt +€24,190
up €24,190 (+103%), from €23,437 to €47,627
- Advances received -€17,000
no longer reported in 2025 (was €17,000)
- Profit (loss) carried forward +€9,158
up €9,158 (+9.3%), from €98,587 to €107,746
- Staff costs +€23,491
up €23,491 (+26.9%), from €87,281 to €110,772
- Gross operating margin -€14,324
down €14,324 (-7.9%), from €181,151 to €166,827
- Taxes -€7,746
down €7,746 (-75.3%), from €10,291 to €2,545
- Other operating charges +€6,321
up €6,321 (+261%), from €2,422 to €8,743
- Depreciation +€3,818
up €3,818 (+17.7%), from €21,538 to €25,355
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 | €385,680 | €362,724 | -€22,956 | -6.0% |
| Fixed assets | 21/28 | €77,268 | €62,429 | -€14,839 | -19.2% |
| Intangible fixed assets | 21 | €1,552 | €1,318 | -€235 | -15.1% |
| Tangible fixed assets | 22/27 | €70,766 | €56,162 | -€14,604 | -20.6% |
| Plant, machinery and equipment | 23 | €4,812 | €3,147 | -€1,666 | -34.6% |
| Furniture and vehicles | 24 | €49,409 | €37,187 | -€12,222 | -24.7% |
| Other tangible fixed assets | 26 | €16,544 | €15,828 | -€717 | -4.3% |
| Financial fixed assets | 28 | €4,950 | €4,950 | = | 0.0% |
| Current assets | 29/58 | €308,412 | €300,294 | -€8,117 | -2.6% |
| Stocks and contracts in progress | 3 | €47,035 | €52,310 | +€5,275 | +11.2% |
| Stocks | 30/36 | €47,035 | €52,310 | +€5,275 | +11.2% |
| Amounts receivable within one year | 40/41 | €232,744 | €242,244 | +€9,500 | +4.1% |
| Trade receivables | 40 | €188,967 | €97,310 | -€91,657 | -48.5% |
| Other amounts receivable | 41 | €43,776 | €144,934 | +€101,158 | +231% |
| Cash at bank and in hand | 54/58 | €26,618 | €5,555 | -€21,063 | -79.1% |
| Deferred charges and accrued income | 490/1 | €2,015 | €185 | -€1,830 | -90.8% |
| Total equity and liabilities | 10/49 | €385,680 | €362,724 | -€22,956 | -6.0% |
| Equity | 10/15 | €101,587 | €110,746 | +€9,158 | +9.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,587 | €107,746 | +€9,158 | +9.3% |
| Amounts payable | 17/49 | €284,093 | €251,978 | -€32,115 | -11.3% |
| Amounts payable after more than one year | 17 | €38,491 | €73,153 | +€34,663 | +90.1% |
| Financial debts | 170/4 | €38,491 | €73,153 | +€34,663 | +90.1% |
| Amounts payable within one year | 42/48 | €245,602 | €178,825 | -€66,777 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €23,437 | €47,627 | +€24,190 | +103% |
| Trade debts | 44 | €175,163 | €98,573 | -€76,590 | -43.7% |
| Suppliers | 440/4 | €175,163 | €98,573 | -€76,590 | -43.7% |
| Advances received on contracts in progress | 46 | €17,000 | - | -€17,000 | |
| Taxes, remuneration and social security | 45 | €30,002 | €32,624 | +€2,622 | +8.7% |
| Taxes | 450/3 | €17,712 | €14,075 | -€3,638 | -20.5% |
| Remuneration and social security | 454/9 | €12,289 | €18,549 | +€6,260 | +50.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €87,281 | €110,772 | +€23,491 | +26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,538 | €25,355 | +€3,818 | +17.7% |
| Other operating charges | 640/8 | €2,422 | €8,743 | +€6,321 | +261% |
| Gross operating margin | 9900 | €181,151 | €166,827 | -€14,324 | -7.9% |
| Operating profit (loss) | 9901 | €69,911 | €21,958 | -€47,953 | -68.6% |
| Financial income | 75/76B | €16 | €9 | -€7 | -41.4% |
| Recurring financial income | 75 | €16 | €9 | -€7 | -41.4% |
| Financial charges | 65/66B | €7,621 | €10,263 | +€2,642 | +34.7% |
| Recurring financial charges | 65 | €7,621 | €10,263 | +€2,642 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €62,305 | €11,704 | -€50,602 | -81.2% |
| Income taxes | 67/77 | €10,291 | €2,545 | -€7,746 | -75.3% |
| Profit (loss) for the period | 9904 | €52,014 | €9,158 | -€42,856 | -82.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,014 | €9,158 | -€42,856 | -82.4% |
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 21 October 2026 via checked.be.