B-RECRUITED: 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.
B-RECRUITED
Largest movements
- Receivables within one year +€83,740
up €83,740 (+38.2%), from €219,009 to €302,749
- Tangible fixed assets +€33,983
new in 2025: €33,983
of which Plant, machinery and equipment: +€26,130
- Cash +€29,594
up €29,594 (+265%), from €11,152 to €40,746
mainly Debts after one year (+€202,250) and Other debts (+€17,138)
- Debts after one year +€202,250
up €202,250 (+61.0%), from €331,749 to €533,999
- Tax, wage and social debts -€53,069
down €53,069 (-44.0%), from €120,573 to €67,504
of which Taxes: -€26,608
- Trade debts -€41,012
down €41,012 (-23.3%), from €176,015 to €135,003
- Other debts +€17,138
new in 2025: €17,138
- Profit (loss) carried forward +€15,206
up €15,206 (+3.6%), from -€424,571 to -€409,365
- Gross operating margin +€316,990
up €316,990 (+200%), from €158,151 to €475,141
- Staff costs +€176,599
up €176,599 (+64.1%), from €275,526 to €452,125
- Financial charges -€8,430
down €8,430 (-78.8%), from €10,701 to €2,271
- Financial income -€7,368
down €7,368 (-69.3%), from €10,635 to €3,267
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 | €237,316 | €386,415 | +€149,099 | +62.8% |
| Fixed assets | 21/28 | €4,843 | €37,054 | +€32,212 | +665% |
| Intangible fixed assets | 21 | €4,843 | €3,072 | -€1,771 | -36.6% |
| Tangible fixed assets | 22/27 | - | €33,983 | +€33,983 | |
| Plant, machinery and equipment | 23 | - | €26,130 | +€26,130 | |
| Furniture and vehicles | 24 | - | €7,852 | +€7,852 | |
| Current assets | 29/58 | €232,473 | €349,361 | +€116,887 | +50.3% |
| Amounts receivable within one year | 40/41 | €219,009 | €302,749 | +€83,740 | +38.2% |
| Trade receivables | 40 | €219,009 | €302,749 | +€83,740 | +38.2% |
| Cash at bank and in hand | 54/58 | €11,152 | €40,746 | +€29,594 | +265% |
| Deferred charges and accrued income | 490/1 | €2,313 | €5,866 | +€3,553 | +154% |
| Total equity and liabilities | 10/49 | €237,316 | €386,415 | +€149,099 | +62.8% |
| Equity | 10/15 | -€404,771 | -€389,565 | +€15,206 | +3.8% |
| Contributions | 10/11 | €19,800 | €19,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€424,571 | -€409,365 | +€15,206 | +3.6% |
| Amounts payable | 17/49 | €642,087 | €775,980 | +€133,893 | +20.9% |
| Amounts payable after more than one year | 17 | €331,749 | €533,999 | +€202,250 | +61.0% |
| Financial debts | 170/4 | €331,749 | €533,999 | +€202,250 | +61.0% |
| Amounts payable within one year | 42/48 | €296,588 | €231,202 | -€65,386 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,557 | +€11,557 | |
| Trade debts | 44 | €176,015 | €135,003 | -€41,012 | -23.3% |
| Suppliers | 440/4 | €176,015 | €135,003 | -€41,012 | -23.3% |
| Taxes, remuneration and social security | 45 | €120,573 | €67,504 | -€53,069 | -44.0% |
| Taxes | 450/3 | €53,440 | €26,832 | -€26,608 | -49.8% |
| Remuneration and social security | 454/9 | €67,133 | €40,671 | -€26,461 | -39.4% |
| Other amounts payable | 47/48 | - | €17,138 | +€17,138 | |
| Accrued charges and deferred income | 492/3 | €13,750 | €10,778 | -€2,972 | -21.6% |
| Remuneration, social security and pensions | 62 | €275,526 | €452,125 | +€176,599 | +64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,776 | €6,222 | +€4,446 | +250% |
| Other operating charges | 640/8 | €4,943 | €1,584 | -€3,359 | -68.0% |
| Gross operating margin | 9900 | €158,151 | €475,141 | +€316,990 | +200% |
| Operating profit (loss) | 9901 | -€124,094 | €15,210 | +€139,305 | |
| Financial income | 75/76B | €10,635 | €3,267 | -€7,368 | -69.3% |
| Recurring financial income | 75 | €10,635 | €3,267 | -€7,368 | -69.3% |
| Financial charges | 65/66B | €10,701 | €2,271 | -€8,430 | -78.8% |
| Recurring financial charges | 65 | €10,701 | €2,271 | -€8,430 | -78.8% |
| Profit (loss) for the period before taxes | 9903 | -€124,160 | €16,206 | +€140,366 | |
| Income taxes | 67/77 | €1,320 | €1,000 | -€320 | -24.2% |
| Profit (loss) for the period | 9904 | -€125,479 | €15,206 | +€140,686 | |
| Profit (loss) for the period to be appropriated | 9905 | -€125,479 | €15,206 | +€140,686 |
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.