C4WASTE: 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.
C4WASTE
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+87.3%), from €1.3m to €2.5m
of which Trade receivables: +€1.3m
- Cash -€176,292
down €176,292 (-46.0%), from €383,509 to €207,217
mainly Receivables within one year (-€1.2m) and Contributions, distributions and other (-€370,000)
- Intangible fixed assets -€80,000
down €80,000 (-20.4%), from €393,005 to €313,005
- Trade debts +€578,189
up €578,189 (+53.8%), from €1.1m to €1.7m
- Other debts +€267,186
up €267,186 (+259.8%), from €102,851 to €370,037
- Profit (loss) carried forward +€248,322
up €248,322 (+182.8%), from €135,850 to €384,172
- Reserves -€222,650
down €222,650 (-26.2%), from €849,760 to €627,110
of which Distributable reserves: -€370,000
- Tax, wage and social debts +€33,894
up €33,894 (+115.6%), from €29,317 to €63,211
of which Taxes: +€31,525
- Gross operating margin +€250,559
up €250,559 (+42.7%), from €587,059 to €837,618
- Depreciation +€89,643
up €89,643 (+749.9%), from €11,955 to €101,598
- Other operating charges +€77,075
up €77,075 (+190.4%), from €40,474 to €117,549
- Staff costs +€20,839
up €20,839 (+30.2%), from €69,066 to €89,905
- Taxes -€17,302
down €17,302 (-11.5%), from €151,001 to €133,699
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.
Cash bridge derived
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 | €2,210,702 | €3,115,643 | +€904,941 | +40.9% |
| Fixed assets | 21/28 | €492,723 | €428,734 | -€63,988 | -13.0% |
| Intangible fixed assets | 21 | €393,005 | €313,005 | -€80,000 | -20.4% |
| Tangible fixed assets | 22/27 | €15,942 | €28,254 | +€12,312 | +77.2% |
| Plant, machinery and equipment | 23 | €4,540 | €20,508 | +€15,968 | +351.7% |
| Furniture and vehicles | 24 | €11,402 | €7,746 | -€3,656 | -32.1% |
| Financial fixed assets | 28 | €83,775 | €87,475 | +€3,700 | +4.4% |
| Current assets | 29/58 | €1,717,979 | €2,686,908 | +€968,929 | +56.4% |
| Amounts receivable within one year | 40/41 | €1,320,024 | €2,472,277 | +€1.2m | +87.3% |
| Trade receivables | 40 | €1,202,939 | €2,454,604 | +€1.3m | +104.1% |
| Other amounts receivable | 41 | €117,085 | €17,673 | -€99,412 | -84.9% |
| Cash at bank and in hand | 54/58 | €383,509 | €207,217 | -€176,292 | -46.0% |
| Deferred charges and accrued income | 490/1 | €14,446 | €7,414 | -€7,032 | -48.7% |
| Total equity and liabilities | 10/49 | €2,210,702 | €3,115,643 | +€904,941 | +40.9% |
| Equity | 10/15 | €1,004,210 | €1,029,882 | +€25,672 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €849,760 | €627,110 | -€222,650 | -26.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €147,350 | +€147,350 | |
| Distributable reserves | 133 | €847,900 | €477,900 | -€370,000 | -43.6% |
| Profit (loss) carried forward | 14 | €135,850 | €384,172 | +€248,322 | +182.8% |
| Amounts payable | 17/49 | €1,206,492 | €2,085,761 | +€879,269 | +72.9% |
| Amounts payable within one year | 42/48 | €1,206,492 | €2,085,761 | +€879,269 | +72.9% |
| Trade debts | 44 | €1,074,324 | €1,652,513 | +€578,189 | +53.8% |
| Suppliers | 440/4 | €1,074,324 | €1,652,513 | +€578,189 | +53.8% |
| Taxes, remuneration and social security | 45 | €29,317 | €63,211 | +€33,894 | +115.6% |
| Taxes | 450/3 | €20,310 | €51,835 | +€31,525 | +155.2% |
| Remuneration and social security | 454/9 | €9,007 | €11,376 | +€2,370 | +26.3% |
| Other amounts payable | 47/48 | €102,851 | €370,037 | +€267,186 | +259.8% |
| Remuneration, social security and pensions | 62 | €69,066 | €89,905 | +€20,839 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,955 | €101,598 | +€89,643 | +749.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €40,474 | €117,549 | +€77,075 | +190.4% |
| Gross operating margin | 9900 | €587,059 | €837,618 | +€250,559 | +42.7% |
| Operating profit (loss) | 9901 | €465,564 | €528,565 | +€63,002 | +13.5% |
| Financial income | 75/76B | €4,257 | €3,469 | -€789 | -18.5% |
| Recurring financial income | 75 | €4,257 | €3,469 | -€789 | -18.5% |
| Financial charges | 65/66B | €656 | €2,664 | +€2,008 | +306.1% |
| Recurring financial charges | 65 | €656 | €2,664 | +€2,008 | +306.1% |
| Profit (loss) for the period before taxes | 9903 | €469,165 | €529,370 | +€60,205 | +12.8% |
| Income taxes | 67/77 | €151,001 | €133,699 | -€17,302 | -11.5% |
| Profit (loss) for the period | 9904 | €318,164 | €395,672 | +€77,508 | +24.4% |
| Transfer to tax-exempt reserves | 689 | - | €147,350 | +€147,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €318,164 | €248,322 | -€69,842 | -22.0% |
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 12 October 2026 via checked.be.