BELGIAN RECYCLE NETWORK: 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.
BELGIAN RECYCLE NETWORK
Largest movements
- Current investments +€379,156
up €379,156 (+7.3%), from €5.2m to €5.6m
- Receivables within one year -€90,098
down €90,098 (-11.9%), from €760,206 to €670,108
of which Trade receivables: -€101,082
- Reserves +€1.0m
up €1.0m (+33.4%), from €3.1m to €4.1m
of which Distributable reserves: +€1.0m
- Accrued charges and deferred income -€953,201
down €953,201 (-35.3%), from €2.7m to €1.7m
- Tax, wage and social debts +€280,373
up €280,373 (+171%), from €163,793 to €444,166
of which Taxes: +€266,960
- Trade debts -€152,825
down €152,825 (-34.6%), from €441,504 to €288,679
- Gross operating margin +€701,272
up €701,272 (+73.7%), from €951,108 to €1.7m
- Taxes +€280,643
up €280,643 (+88.0%), from €318,983 to €599,627
- Financial income -€83,324
down €83,324 (-15.6%), from €534,330 to €451,006
- Staff costs +€28,796
up €28,796 (+30.2%), from €95,269 to €124,065
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 | €6,422,429 | €6,683,334 | +€260,905 | +4.1% |
| Fixed assets | 21/28 | €310,331 | €265,928 | -€44,403 | -14.3% |
| Tangible fixed assets | 22/27 | €310,331 | €265,928 | -€44,403 | -14.3% |
| Land and buildings | 22 | €280,367 | €239,539 | -€40,828 | -14.6% |
| Plant, machinery and equipment | 23 | €7,945 | €8,631 | +€686 | +8.6% |
| Furniture and vehicles | 24 | €22,019 | €17,758 | -€4,261 | -19.4% |
| Current assets | 29/58 | €6,112,098 | €6,417,406 | +€305,308 | +5.0% |
| Stocks and contracts in progress | 3 | €6,200 | €6,074 | -€126 | -2.0% |
| Stocks | 30/36 | €6,200 | €6,074 | -€126 | -2.0% |
| Amounts receivable within one year | 40/41 | €760,206 | €670,108 | -€90,098 | -11.9% |
| Trade receivables | 40 | €589,274 | €488,192 | -€101,082 | -17.2% |
| Other amounts receivable | 41 | €170,932 | €181,916 | +€10,984 | +6.4% |
| Current investments | 50/53 | €5,224,151 | €5,603,306 | +€379,156 | +7.3% |
| Cash at bank and in hand | 54/58 | €121,541 | €137,918 | +€16,377 | +13.5% |
| Total equity and liabilities | 10/49 | €6,422,429 | €6,683,334 | +€260,905 | +4.1% |
| Equity | 10/15 | €3,118,902 | €4,155,459 | +€1.0m | +33.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,106,502 | €4,143,059 | +€1.0m | +33.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,106,502 | €4,143,059 | +€1.0m | +33.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,303,527 | €2,527,875 | -€775,652 | -23.5% |
| Amounts payable within one year | 42/48 | €605,297 | €782,845 | +€177,548 | +29.3% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €441,504 | €288,679 | -€152,825 | -34.6% |
| Suppliers | 440/4 | €441,504 | €288,679 | -€152,825 | -34.6% |
| Taxes, remuneration and social security | 45 | €163,793 | €444,166 | +€280,373 | +171% |
| Taxes | 450/3 | €142,063 | €409,023 | +€266,960 | +188% |
| Remuneration and social security | 454/9 | €21,730 | €35,143 | +€13,413 | +61.7% |
| Accrued charges and deferred income | 492/3 | €2,698,231 | €1,745,030 | -€953,201 | -35.3% |
| Non-recurring operating income | 76A | - | €169 | +€169 | |
| Remuneration, social security and pensions | 62 | €95,269 | €124,065 | +€28,796 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,323 | €52,449 | +€1,126 | +2.2% |
| Other operating charges | 640/8 | €5,764 | €13,405 | +€7,641 | +133% |
| Non-recurring operating charges | 66A | €2,614 | €0 | -€2,614 | -100% |
| Gross operating margin | 9900 | €951,108 | €1,652,380 | +€701,272 | +73.7% |
| Operating profit (loss) | 9901 | €796,138 | €1,462,462 | +€666,323 | +83.7% |
| Financial income | 75/76B | €534,330 | €451,006 | -€83,324 | -15.6% |
| Recurring financial income | 75 | €534,330 | €451,006 | -€83,324 | -15.6% |
| Financial charges | 65/66B | €62,155 | €71,415 | +€9,260 | +14.9% |
| Recurring financial charges | 65 | €62,155 | €71,415 | +€9,260 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | €1,268,314 | €1,842,052 | +€573,738 | +45.2% |
| Income taxes | 67/77 | €318,983 | €599,627 | +€280,643 | +88.0% |
| Profit (loss) for the period | 9904 | €949,330 | €1,242,425 | +€293,095 | +30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €949,330 | €1,242,425 | +€293,095 | +30.9% |
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 19 October 2026 via checked.be.