ECOV: what changed
Two fiscal 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
ECOV
NACE 38.210, Materials recovery from waste
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€602,854
2024 · -€319,609+€922,464
Equity
€3.5m
2024 · €2.9m+€602,854
Cash
€2.2m
2024 · €996,042+€1.2m
Balance sheet total
€8.8m
2024 · €12.3m-€3.5m
Largest movements
Assets
- Financial fixed assets -€4.9m
down €4.9m (-100.0%), from €4.9m to €0
- Cash +€1.2m
up €1.2m (+117.1%), from €996,042 to €2.2m
mainly Investment in fixed assets (net) (+€4.9m) and Net result for the year (+€602,854)
- Receivables within one year +€323,437
up €323,437 (+5.1%), from €6.3m to €6.7m
of which Trade receivables: +€443,898
Equity and liabilities
- Trade debts -€2.4m
down €2.4m (-36.5%), from €6.7m to €4.3m
- Short-term financial debts -€1.9m
no longer reported in 2025 (was €1.9m)
- Profit (loss) carried forward +€602,854
up €602,854, from -€229,841 to €373,014
- Accrued charges and deferred income +€483,004
up €483,004 (+1426.9%), from €33,851 to €516,854
Income statement
- Services and other goods -€1.6m
down €1.6m (-22.5%), from €7.0m to €5.4m
- Other operating income -€1.1m
down €1.1m (-22.6%), from €5.0m to €3.9m
- Staff costs +€418,463
up €418,463 (+42.9%), from €975,346 to €1.4m
- Depreciation -€301,940
down €301,940 (-97.1%), from €310,845 to €8,905
- Provisions -€286,279
down €286,279, from €192,000 to -€94,279
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
-€319,609
Turnover
-€133,956
Other operating income
-€1.1m
Goods and materials
+€147,664
Services and other goods
+€1.6m
Staff costs
-€418,463
Depreciation
+€301,940
Provisions
+€286,279
Other operating charges
+€203
Other operating items
-€29,953
Financial income
+€229,085
Financial charges
+€111,610
Taxes
-€2,173
Result 2025
€602,854
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.
From operations
-€1.9m
Investment
+€4.9m
Financing
-€1.9m
Cash 2024
€996,042
From operations (derived)
-€1.9m
Net result for the year
+€602,854
Depreciation
+€8,905
Receivables within one year
-€323,437
Deferred charges and accrued income
-€1,454
Provisions
-€94,279
Trade debts
-€2.4m
Tax, wage and social debts
-€104,694
Accrued charges and deferred income
+€483,004
Investment (derived)
+€4.9m
Investment in fixed assets (net)
+€4.9m
Financing
-€1.9m
Short-term financial debts
-€1.9m
Cash 2025
€2.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,284,218 | €8,823,499 | -€3.5m | -28.2% |
| Fixed assets | 21/28 | €4,953,184 | €1,262 | -€5.0m | -100.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €32,120 | €1,262 | -€30,858 | -96.1% |
| Plant, machinery and equipment | 23 | €7,728 | €1,262 | -€6,466 | -83.7% |
| Furniture and vehicles | 24 | €24,392 | €0 | -€24,392 | -100.0% |
| Financial fixed assets | 28 | €4,921,064 | €0 | -€4.9m | -100.0% |
| Companies linked by participating interests | 282/3 | €4,921,064 | €0 | -€4.9m | -100.0% |
| Participating interests | 282 | €4,921,064 | €0 | -€4.9m | -100.0% |
| Current assets | 29/58 | €7,331,034 | €8,822,236 | +€1.5m | +20.3% |
| Amounts receivable within one year | 40/41 | €6,330,325 | €6,653,763 | +€323,437 | +5.1% |
| Trade receivables | 40 | €6,197,185 | €6,641,083 | +€443,898 | +7.2% |
| Other amounts receivable | 41 | €133,140 | €12,680 | -€120,461 | -90.5% |
| Cash at bank and in hand | 54/58 | €996,042 | €2,162,353 | +€1.2m | +117.1% |
| Deferred charges and accrued income | 490/1 | €4,667 | €6,121 | +€1,454 | +31.1% |
| Total equity and liabilities | 10/49 | €12,284,218 | €8,823,499 | -€3.5m | -28.2% |
| Equity | 10/15 | €2,915,418 | €3,518,272 | +€602,854 | +20.7% |
| Contributions | 10/11 | €2,500,000 | €2,500,000 | = | 0.0% |
| Capital | 10 | €2,500,000 | €2,500,000 | = | 0.0% |
| Issued capital | 100 | €2,500,000 | €2,500,000 | = | 0.0% |
| Reserves | 13 | €645,258 | €645,258 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Legal reserve | 130 | €250,000 | €250,000 | = | 0.0% |
| Distributable reserves | 133 | €395,258 | €395,258 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€229,841 | €373,014 | +€602,854 | |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €576,000 | €481,721 | -€94,279 | -16.4% |
| Provisions for liabilities and charges | 160/5 | €576,000 | €481,721 | -€94,279 | -16.4% |
| Pensions and similar obligations | 160 | €576,000 | €481,721 | -€94,279 | -16.4% |
| Amounts payable | 17/49 | €8,792,800 | €4,823,506 | -€4.0m | -45.1% |
| Amounts payable within one year | 42/48 | €8,758,950 | €4,306,652 | -€4.5m | -50.8% |
| Financial debts | 43 | €1,900,000 | - | -€1.9m | |
| Other loans | 439 | €1,900,000 | - | -€1.9m | |
| Trade debts | 44 | €6,706,423 | €4,258,819 | -€2.4m | -36.5% |
| Suppliers | 440/4 | €6,706,423 | €4,258,819 | -€2.4m | -36.5% |
| Taxes, remuneration and social security | 45 | €152,527 | €47,832 | -€104,694 | -68.6% |
| Taxes | 450/3 | €8,700 | €4,028 | -€4,672 | -53.7% |
| Remuneration and social security | 454/9 | €143,826 | €43,804 | -€100,022 | -69.5% |
| Accrued charges and deferred income | 492/3 | €33,851 | €516,854 | +€483,004 | +1426.9% |
| Operating income | 70/76A | €22,957,117 | €21,664,354 | -€1.3m | -5.6% |
| Turnover | 70 | €17,924,359 | €17,790,403 | -€133,956 | -0.7% |
| Other operating income | 74 | €5,007,257 | €3,873,951 | -€1.1m | -22.6% |
| Non-recurring operating income | 76A | €25,500 | - | -€25,500 | |
| Operating charges | 60/66A | €23,202,088 | €21,325,384 | -€1.9m | -8.1% |
| Goods for resale, raw materials and consumables | 60 | €14,759,581 | €14,611,917 | -€147,664 | -1.0% |
| Purchases | 600/8 | €14,759,581 | €14,611,917 | -€147,664 | -1.0% |
| Services and other goods | 61 | €6,962,641 | €5,399,109 | -€1.6m | -22.5% |
| Remuneration, social security and pensions | 62 | €975,346 | €1,393,809 | +€418,463 | +42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €310,845 | €8,905 | -€301,940 | -97.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €192,000 | -€94,279 | -€286,279 | |
| Other operating charges | 640/8 | €1,675 | €1,472 | -€203 | -12.1% |
| Non-recurring operating charges | 66A | - | €4,453 | +€4,453 | |
| Operating profit (loss) | 9901 | -€244,971 | €338,970 | +€583,941 | |
| Financial income | 75/76B | €78,824 | €307,910 | +€229,085 | +290.6% |
| Recurring financial income | 75 | €78,824 | €307,910 | +€229,085 | +290.6% |
| Income from financial fixed assets | 750 | - | €307,533 | +€307,533 | |
| Other financial income | 752/9 | €78,824 | €377 | -€78,448 | -99.5% |
| Financial charges | 65/66B | €154,499 | €42,889 | -€111,610 | -72.2% |
| Recurring financial charges | 65 | €154,499 | €42,889 | -€111,610 | -72.2% |
| Debt charges | 650 | €153,395 | €42,550 | -€110,845 | -72.3% |
| Other financial charges | 652/9 | €1,104 | €339 | -€765 | -69.3% |
| Profit (loss) for the period before taxes | 9903 | -€320,646 | €603,990 | +€924,636 | |
| Income taxes | 67/77 | -€1,037 | €1,136 | +€2,173 | |
| Taxes | 670/3 | - | €1,136 | +€1,136 | |
| Tax adjustments and reversals of tax provisions | 77 | €1,037 | - | -€1,037 | |
| Profit (loss) for the period | 9904 | -€319,609 | €602,854 | +€922,464 | |
| Profit (loss) for the period to be appropriated | 9905 | -€319,609 | €602,854 | +€922,464 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.