Blue 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.
Blue Recycling
Largest movements
- Cash +€47,354
up €47,354 (+55.9%), from €84,724 to €132,077
mainly Net result for the year (+€79,582) and Debts after one year (+€65,000)
- Receivables within one year -€29,499
down €29,499 (-43.6%), from €67,641 to €38,142
of which Trade receivables: -€22,270
- Tangible fixed assets -€14,900
down €14,900 (-2.7%), from €547,644 to €532,744
of which Other tangible fixed assets: -€15,773
- Other debts -€101,032
down €101,032 (-39.1%), from €258,708 to €157,676
- Reserves +€79,582
up €79,582 (+37.9%), from €210,192 to €289,774
- Debts after one year +€65,000
up €65,000 (+43.3%), from €150,000 to €215,000
- Trade debts -€47,853
down €47,853 (-72.0%), from €66,436 to €18,583
- Accrued charges and deferred income +€7,481
up €7,481 (+99.1%), from €7,549 to €15,030
- Gross operating margin +€27,577
up €27,577 (+20.4%), from €135,467 to €163,045
- Depreciation +€17,301
up €17,301 (+77.8%), from €22,230 to €39,530
- Financial charges +€7,566
up €7,566 (+98.3%), from €7,697 to €15,263
- Taxes -€4,414
down €4,414 (-16.3%), from €27,123 to €22,709
- Other operating charges -€3,170
down €3,170 (-34.6%), from €9,169 to €5,998
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 | €700,009 | €703,901 | +€3,892 | +0.6% |
| Fixed assets | 21/28 | €547,644 | €532,744 | -€14,900 | -2.7% |
| Tangible fixed assets | 22/27 | €547,644 | €532,744 | -€14,900 | -2.7% |
| Plant, machinery and equipment | 23 | €13,588 | €13,190 | -€398 | -2.9% |
| Furniture and vehicles | 24 | €21,281 | €22,552 | +€1,271 | +6.0% |
| Other tangible fixed assets | 26 | €512,775 | €497,002 | -€15,773 | -3.1% |
| Current assets | 29/58 | €152,365 | €171,156 | +€18,792 | +12.3% |
| Amounts receivable within one year | 40/41 | €67,641 | €38,142 | -€29,499 | -43.6% |
| Trade receivables | 40 | €57,417 | €35,147 | -€22,270 | -38.8% |
| Other amounts receivable | 41 | €10,224 | €2,995 | -€7,229 | -70.7% |
| Cash at bank and in hand | 54/58 | €84,724 | €132,077 | +€47,354 | +55.9% |
| Deferred charges and accrued income | 490/1 | - | €937 | +€937 | |
| Total equity and liabilities | 10/49 | €700,009 | €703,901 | +€3,892 | +0.6% |
| Equity | 10/15 | €215,192 | €294,774 | +€79,582 | +37.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €210,192 | €289,774 | +€79,582 | +37.9% |
| Distributable reserves | 133 | €210,192 | €289,774 | +€79,582 | +37.9% |
| Amounts payable | 17/49 | €484,817 | €409,127 | -€75,690 | -15.6% |
| Amounts payable after more than one year | 17 | €150,000 | €215,000 | +€65,000 | +43.3% |
| Financial debts | 170/4 | €150,000 | €215,000 | +€65,000 | +43.3% |
| Amounts payable within one year | 42/48 | €327,267 | €179,097 | -€148,171 | -45.3% |
| Trade debts | 44 | €66,436 | €18,583 | -€47,853 | -72.0% |
| Suppliers | 440/4 | €66,436 | €18,583 | -€47,853 | -72.0% |
| Taxes, remuneration and social security | 45 | €2,123 | €2,838 | +€715 | +33.7% |
| Taxes | 450/3 | €2,123 | €2,838 | +€715 | +33.7% |
| Other amounts payable | 47/48 | €258,708 | €157,676 | -€101,032 | -39.1% |
| Accrued charges and deferred income | 492/3 | €7,549 | €15,030 | +€7,481 | +99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,230 | €39,530 | +€17,301 | +77.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,331 | €0 | -€1,331 | -100% |
| Other operating charges | 640/8 | €9,169 | €5,998 | -€3,170 | -34.6% |
| Gross operating margin | 9900 | €135,467 | €163,045 | +€27,577 | +20.4% |
| Operating profit (loss) | 9901 | €102,739 | €117,516 | +€14,777 | +14.4% |
| Financial income | 75/76B | €134 | €38 | -€96 | -71.7% |
| Recurring financial income | 75 | €134 | €38 | -€96 | -71.7% |
| Financial charges | 65/66B | €7,697 | €15,263 | +€7,566 | +98.3% |
| Recurring financial charges | 65 | €7,697 | €15,263 | +€7,566 | +98.3% |
| Profit (loss) for the period before taxes | 9903 | €95,175 | €102,290 | +€7,115 | +7.5% |
| Income taxes | 67/77 | €27,123 | €22,709 | -€4,414 | -16.3% |
| Profit (loss) for the period | 9904 | €68,052 | €79,582 | +€11,529 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,052 | €79,582 | +€11,529 | +16.9% |
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 30 October 2026 via checked.be.