AC RECYCLING: 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.
What changed
AC RECYCLING
NACE 38.210, Materials recovery from waste
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€175,269
2024 · €27,660+€147,609
Equity
€422,282
2024 · €247,013+€175,269
Cash
€89,433
2024 · €81,638+€7,795
Balance sheet total
€9.6m
2024 · €8.6m+€992,747
Largest movements
Assets
- Tangible fixed assets +€1.7m
up €1.7m (+27.8%), from €6.0m to €7.6m
of which Leasing and similar rights: +€1.3m
- Receivables within one year -€554,881
down €554,881 (-28.3%), from €2.0m to €1.4m
of which Trade receivables: -€547,271
Equity and liabilities
- Accrued charges and deferred income +€1.5m
up €1.5m (+759%), from €197,549 to €1.7m
- Other debts -€1.0m
down €1.0m (-45.7%), from €2.3m to €1.2m
- Debts after one year +€493,698
up €493,698 (+27.9%), from €1.8m to €2.3m
- Trade debts -€345,454
down €345,454 (-13.2%), from €2.6m to €2.3m
- Current portion of long-term debt +€216,720
up €216,720 (+30.4%), from €713,796 to €930,515
Income statement
- Goods and materials -€1.5m
down €1.5m (-40.6%), from €3.8m to €2.3m
of which Purchases: -€1.6m
- Services and other goods +€1.3m
up €1.3m (+21.5%), from €5.9m to €7.1m
- Turnover -€182,475
down €182,475 (-1.6%), from €11.5m to €11.3m
- Staff costs -€139,932
down €139,932 (-26.0%), from €538,409 to €398,477
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.
Result 2024
€27,660
Turnover
-€182,475
Other operating income
-€86,826
Goods and materials
+€1.5m
Services and other goods
-€1.3m
Staff costs
+€139,932
Depreciation
-€108,886
Write-downs
+€112,115
Other operating charges
-€42,888
Other operating items
+€24,181
Financial income
+€3,855
Financial charges
+€1,844
Taxes
-€19
Result 2025
€175,269
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.0m
Investment
-€2.8m
Financing
+€716,105
Cash 2024
€81,638
From operations (derived)
+€2.0m
Net result for the year
+€175,269
Depreciation
+€1.2m
Stocks and contracts
+€21,058
Receivables within one year
+€554,881
Deferred charges and accrued income
+€4,253
Trade debts
-€345,454
Tax, wage and social debts
-€17,708
Other debts
-€1.0m
Accrued charges and deferred income
+€1.5m
Investment (derived)
-€2.8m
Investment in fixed assets (net)
-€2.8m
Financing
+€716,105
Debts after one year
+€493,698
Current portion of long-term debt
+€216,720
Short-term financial debts
+€5,687
Cash 2025
€89,433
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,594,110 | €9,586,858 | +€992,747 | +11.6% |
| Formation expenses | 20 | €86,333 | €12,333 | -€74,000 | -85.7% |
| Fixed assets | 21/28 | €6,034,229 | €7,673,374 | +€1.6m | +27.2% |
| Intangible fixed assets | 21 | €56,546 | €33,645 | -€22,901 | -40.5% |
| Tangible fixed assets | 22/27 | €5,972,785 | €7,634,830 | +€1.7m | +27.8% |
| Land and buildings | 22 | €118,932 | €89,035 | -€29,897 | -25.1% |
| Plant, machinery and equipment | 23 | €1,483,182 | €1,671,808 | +€188,626 | +12.7% |
| Furniture and vehicles | 24 | €569,931 | €769,155 | +€199,224 | +35.0% |
| Leasing and similar rights | 25 | €3,319,591 | €4,615,228 | +€1.3m | +39.0% |
| Other tangible fixed assets | 26 | €481,148 | €489,603 | +€8,455 | +1.8% |
| Financial fixed assets | 28 | €4,899 | €4,899 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,899 | €4,899 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,899 | €4,899 | = | 0.0% |
| Current assets | 29/58 | €2,473,548 | €1,901,151 | -€572,397 | -23.1% |
| Stocks and contracts in progress | 3 | €324,923 | €303,865 | -€21,058 | -6.5% |
| Stocks | 30/36 | €324,923 | €303,865 | -€21,058 | -6.5% |
| Raw materials and consumables | 30/31 | €322,513 | €303,865 | -€18,648 | -5.8% |
| Goods purchased for resale | 34 | €2,411 | - | -€2,411 | |
| Amounts receivable within one year | 40/41 | €1,959,311 | €1,404,430 | -€554,881 | -28.3% |
| Trade receivables | 40 | €1,950,815 | €1,403,544 | -€547,271 | -28.1% |
| Other amounts receivable | 41 | €8,496 | €886 | -€7,610 | -89.6% |
| Cash at bank and in hand | 54/58 | €81,638 | €89,433 | +€7,795 | +9.5% |
| Deferred charges and accrued income | 490/1 | €107,675 | €103,423 | -€4,253 | -3.9% |
| Total equity and liabilities | 10/49 | €8,594,110 | €9,586,858 | +€992,747 | +11.6% |
| Equity | 10/15 | €247,013 | €422,282 | +€175,269 | +71.0% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,263 | €353,532 | +€175,269 | +98.3% |
| Amounts payable | 17/49 | €8,347,097 | €9,164,576 | +€817,479 | +9.8% |
| Amounts payable after more than one year | 17 | €1,769,970 | €2,263,668 | +€493,698 | +27.9% |
| Financial debts | 170/4 | €1,769,970 | €2,263,668 | +€493,698 | +27.9% |
| Leasing and similar obligations | 172 | €1,769,970 | €2,263,668 | +€493,698 | +27.9% |
| Amounts payable within one year | 42/48 | €6,379,578 | €5,203,328 | -€1.2m | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €713,796 | €930,515 | +€216,720 | +30.4% |
| Financial debts | 43 | €725,301 | €730,989 | +€5,687 | +0.8% |
| Credit institutions | 430/8 | €725,301 | €730,989 | +€5,687 | +0.8% |
| Trade debts | 44 | €2,617,722 | €2,272,268 | -€345,454 | -13.2% |
| Suppliers | 440/4 | €2,617,722 | €2,272,268 | -€345,454 | -13.2% |
| Taxes, remuneration and social security | 45 | €57,230 | €39,522 | -€17,708 | -30.9% |
| Remuneration and social security | 454/9 | €57,230 | €39,522 | -€17,708 | -30.9% |
| Other amounts payable | 47/48 | €2,265,529 | €1,230,034 | -€1.0m | -45.7% |
| Accrued charges and deferred income | 492/3 | €197,549 | €1,697,579 | +€1.5m | +759% |
| Operating income | 70/76A | €11,626,305 | €11,385,060 | -€241,245 | -2.1% |
| Turnover | 70 | €11,526,810 | €11,344,335 | -€182,475 | -1.6% |
| Other operating income | 74 | €99,495 | €12,670 | -€86,826 | -87.3% |
| Non-recurring operating income | 76A | - | €28,056 | +€28,056 | |
| Operating charges | 60/66A | €11,394,446 | €11,011,273 | -€383,173 | -3.4% |
| Goods for resale, raw materials and consumables | 60 | €3,808,960 | €2,261,688 | -€1.5m | -40.6% |
| Purchases | 600/8 | €3,840,308 | €2,240,629 | -€1.6m | -41.7% |
| Change in stocks: decrease (increase) | 609 | -€31,349 | €21,058 | +€52,407 | |
| Services and other goods | 61 | €5,870,595 | €7,131,092 | +€1.3m | +21.5% |
| Remuneration, social security and pensions | 62 | €538,409 | €398,477 | -€139,932 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,083,729 | €1,192,614 | +€108,886 | +10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €56,057 | -€56,057 | -€112,115 | |
| Other operating charges | 640/8 | €36,696 | €79,584 | +€42,888 | +117% |
| Non-recurring operating charges | 66A | - | €3,875 | +€3,875 | |
| Operating profit (loss) | 9901 | €231,859 | €373,787 | +€141,928 | +61.2% |
| Financial income | 75/76B | €10,061 | €13,916 | +€3,855 | +38.3% |
| Recurring financial income | 75 | €10,061 | €13,916 | +€3,855 | +38.3% |
| Other financial income | 752/9 | €10,061 | €13,916 | +€3,855 | +38.3% |
| Financial charges | 65/66B | €213,597 | €211,753 | -€1,844 | -0.9% |
| Recurring financial charges | 65 | €213,597 | €211,753 | -€1,844 | -0.9% |
| Debt charges | 650 | €213,597 | €211,753 | -€1,844 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €28,323 | €175,951 | +€147,628 | +521% |
| Income taxes | 67/77 | €663 | €682 | +€19 | +2.8% |
| Taxes | 670/3 | €663 | €682 | +€19 | +2.8% |
| Profit (loss) for the period | 9904 | €27,660 | €175,269 | +€147,609 | +534% |
| Profit (loss) for the period to be appropriated | 9905 | €27,660 | €175,269 | +€147,609 | +534% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.