METAMORPHOSE: 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.
METAMORPHOSE
Largest movements
- Receivables within one year +€90,715
up €90,715 (+136%), from €66,786 to €157,501
of which Trade receivables: +€90,419
- Cash -€46,078
down €46,078 (-97.0%), from €47,500 to €1,422
mainly Receivables within one year (-€90,715) and Other debts (-€1,650)
- Tangible fixed assets -€2,507
down €2,507 (-87.3%), from €2,871 to €364
- Reserves +€21,000
up €21,000 (+1,050%), from €2,000 to €23,000
of which Distributable reserves: +€21,000
- Tax, wage and social debts +€20,339
up €20,339 (+489%), from €4,158 to €24,497
of which Taxes: +€12,908
- Other debts -€1,650
down €1,650 (-6.0%), from €27,333 to €25,683
- Staff costs +€38,380
up €38,380 (+721%), from €5,322 to €43,702
- Gross operating margin +€35,307
up €35,307 (+77.4%), from €45,613 to €80,920
- Other operating charges -€14,954
down €14,954 (-98.1%), from €15,251 to €297
- Taxes +€9,243
up €9,243 (+313%), from €2,956 to €12,200
- Depreciation -€1,017
down €1,017 (-28.9%), from €3,524 to €2,507
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 | €118,819 | €159,548 | +€40,729 | +34.3% |
| Fixed assets | 21/28 | €2,931 | €424 | -€2,507 | -85.5% |
| Tangible fixed assets | 22/27 | €2,871 | €364 | -€2,507 | -87.3% |
| Furniture and vehicles | 24 | €2,871 | €364 | -€2,507 | -87.3% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €115,888 | €159,124 | +€43,236 | +37.3% |
| Amounts receivable within one year | 40/41 | €66,786 | €157,501 | +€90,715 | +136% |
| Trade receivables | 40 | €66,181 | €156,600 | +€90,419 | +137% |
| Other amounts receivable | 41 | €605 | €900 | +€295 | +48.8% |
| Cash at bank and in hand | 54/58 | €47,500 | €1,422 | -€46,078 | -97.0% |
| Deferred charges and accrued income | 490/1 | €1,601 | €201 | -€1,401 | -87.5% |
| Total equity and liabilities | 10/49 | €118,819 | €159,548 | +€40,729 | +34.3% |
| Equity | 10/15 | €21,631 | €43,771 | +€22,139 | +102% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €23,000 | +€21,000 | +1,050% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | - | €21,000 | +€21,000 | |
| Profit (loss) carried forward | 14 | -€369 | €771 | +€1,139 | |
| Amounts payable | 17/49 | €97,188 | €115,777 | +€18,589 | +19.1% |
| Amounts payable within one year | 42/48 | €97,188 | €115,777 | +€18,589 | +19.1% |
| Trade debts | 44 | €65,697 | €65,597 | -€100 | -0.2% |
| Suppliers | 440/4 | €65,697 | €65,597 | -€100 | -0.2% |
| Taxes, remuneration and social security | 45 | €4,158 | €24,497 | +€20,339 | +489% |
| Taxes | 450/3 | €2,956 | €15,864 | +€12,908 | +437% |
| Remuneration and social security | 454/9 | €1,202 | €8,633 | +€7,431 | +618% |
| Other amounts payable | 47/48 | €27,333 | €25,683 | -€1,650 | -6.0% |
| Non-recurring operating income | 76A | €85,985 | - | -€85,985 | |
| Remuneration, social security and pensions | 62 | €5,322 | €43,702 | +€38,380 | +721% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,524 | €2,507 | -€1,017 | -28.9% |
| Other operating charges | 640/8 | €15,251 | €297 | -€14,954 | -98.1% |
| Gross operating margin | 9900 | €45,613 | €80,920 | +€35,307 | +77.4% |
| Operating profit (loss) | 9901 | €21,515 | €34,414 | +€12,899 | +60.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €362 | €75 | -€287 | -79.3% |
| Recurring financial charges | 65 | €362 | €75 | -€287 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | €21,154 | €34,339 | +€13,185 | +62.3% |
| Income taxes | 67/77 | €2,956 | €12,200 | +€9,243 | +313% |
| Profit (loss) for the period | 9904 | €18,197 | €22,139 | +€3,942 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,197 | €22,139 | +€3,942 | +21.7% |
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 15 October 2026 via checked.be.