FILAO: 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.
What changed
FILAO
NACE 38.210, Materials recovery from waste
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€456,574
2024 · -€1.8m+€2.3m
Equity
€4.0m
2024 · €750,342+€3.2m
Cash
-
2024 · €1.7m-€1.7m
Balance sheet total
€47.6m
2024 · €51.2m-€3.6m
Largest movements
Assets
- Tangible fixed assets -€4.4m
down €4.4m (-11.3%), from €38.7m to €34.4m
of which Plant, machinery and equipment: -€2.5m
- Cash -€1.7m
no longer reported in 2025 (was €1.7m)
mainly Debts after one year (-€3.3m) and Other debts (-€2.7m)
- Stocks and contracts +€1.3m
up €1.3m (+40.9%), from €3.1m to €4.4m
- Receivables within one year +€1.1m
up €1.1m (+14.7%), from €7.7m to €8.8m
of which Other amounts receivable: +€3.1m
Equity and liabilities
- Debts after one year -€3.3m
down €3.3m (-16.4%), from €20.1m to €16.8m
- Other debts -€2.7m
down €2.7m (-16.4%), from €16.4m to €13.7m
- Profit (loss) carried forward +€2.5m
up €2.5m (+28.0%), from -€8.8m to -€6.3m
- Contributions +€680,000
up €680,000 (+9.3%), from €7.3m to €8.0m
- Trade debts -€584,489
down €584,489 (-6.0%), from €9.8m to €9.2m
Income statement
- Turnover +€44.7m
new in 2025: €44.7m
- Goods and materials +€24.5m
new in 2025: €24.5m
of which Purchases: +€25.9m
- Services and other goods +€12.1m
new in 2025: €12.1m
- Gross operating margin -€6.7m
no longer reported in 2025 (was €6.7m)
- Other operating income +€794,629
new in 2025: €794,629
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
-€1.8m
Turnover
+€44.7m
Other operating income
+€794,629
Goods and materials
-€24.5m
Services and other goods
-€12.1m
Staff costs
-€43,892
Depreciation
-€286,671
Other operating charges
+€18,604
Other operating items
-€6.8m
Financial income
+€23,360
Financial charges
+€423,010
Taxes
+€229
Result 2025
€456,574
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€33,823
Investment
-€930,998
Financing
-€767,340
Cash 2024
€1.7m
From operations (derived)
+€33,823
Net result for the year
+€456,574
Depreciation
+€5.3m
Stocks and contracts
-€1.3m
Receivables within one year
-€1.1m
Deferred charges and accrued income
-€32,271
Trade debts
-€584,489
Tax, wage and social debts
-€18,623
Other debts
-€2.7m
Accrued charges and deferred income
+€12,057
Investment (derived)
-€930,998
Investment in fixed assets (net)
-€930,998
Financing
-€767,340
Debts after one year
-€3.3m
Current portion of long-term debt
-€253,716
Contributions, distributions and other
+€2.8m
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,209,495 | €47,627,675 | -€3.6m | -7.0% |
| Fixed assets | 21/28 | €38,709,981 | €34,351,724 | -€4.4m | -11.3% |
| Tangible fixed assets | 22/27 | €38,708,981 | €34,351,724 | -€4.4m | -11.3% |
| Land and buildings | 22 | €19,953,571 | €18,169,477 | -€1.8m | -8.9% |
| Plant, machinery and equipment | 23 | €18,436,518 | €15,911,679 | -€2.5m | -13.7% |
| Furniture and vehicles | 24 | €316,608 | €268,995 | -€47,612 | -15.0% |
| Assets under construction and advance payments | 27 | €2,285 | €1,573 | -€712 | -31.2% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €12,499,514 | €13,275,950 | +€776,437 | +6.2% |
| Stocks and contracts in progress | 3 | €3,124,625 | €4,402,416 | +€1.3m | +40.9% |
| Stocks | 30/36 | €3,124,625 | €4,402,416 | +€1.3m | +40.9% |
| Raw materials and consumables | 30/31 | - | €4,366,947 | +€4.4m | |
| Finished goods | 33 | - | €35,469 | +€35,469 | |
| Amounts receivable within one year | 40/41 | €7,686,941 | €8,817,831 | +€1.1m | +14.7% |
| Trade receivables | 40 | €5,902,987 | €3,914,510 | -€2.0m | -33.7% |
| Other amounts receivable | 41 | €1,783,955 | €4,903,321 | +€3.1m | +175% |
| Cash at bank and in hand | 54/58 | €1,664,515 | - | -€1.7m | |
| Deferred charges and accrued income | 490/1 | €23,432 | €55,703 | +€32,271 | +138% |
| Total equity and liabilities | 10/49 | €51,209,495 | €47,627,675 | -€3.6m | -7.0% |
| Equity | 10/15 | €750,342 | €3,976,941 | +€3.2m | +430% |
| Contributions | 10/11 | €7,320,000 | €8,000,000 | +€680,000 | +9.3% |
| Capital | 10 | €7,320,000 | €8,000,000 | +€680,000 | +9.3% |
| Issued capital | 100 | €7,320,000 | €8,000,000 | +€680,000 | +9.3% |
| Profit (loss) carried forward | 14 | -€8,755,474 | -€6,299,588 | +€2.5m | +28.0% |
| Investment grants | 15 | €2,185,816 | €2,276,528 | +€90,712 | +4.2% |
| Amounts payable | 17/49 | €50,459,154 | €43,650,734 | -€6.8m | -13.5% |
| Amounts payable after more than one year | 17 | €20,072,361 | €16,788,712 | -€3.3m | -16.4% |
| Financial debts | 170/4 | €20,072,361 | €16,788,712 | -€3.3m | -16.4% |
| Credit institutions | 173 | - | €16,788,712 | +€16.8m | |
| Amounts payable within one year | 42/48 | €29,949,944 | €26,413,116 | -€3.5m | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €3,537,365 | €3,283,649 | -€253,716 | -7.2% |
| Trade debts | 44 | €9,764,003 | €9,179,514 | -€584,489 | -6.0% |
| Suppliers | 440/4 | €9,764,003 | €9,179,514 | -€584,489 | -6.0% |
| Taxes, remuneration and social security | 45 | €268,576 | €249,953 | -€18,623 | -6.9% |
| Taxes | 450/3 | €9,722 | €532 | -€9,190 | -94.5% |
| Remuneration and social security | 454/9 | €258,854 | €249,421 | -€9,433 | -3.6% |
| Other amounts payable | 47/48 | €16,380,000 | €13,700,000 | -€2.7m | -16.4% |
| Accrued charges and deferred income | 492/3 | €436,849 | €448,906 | +€12,057 | +2.8% |
| Operating income | 70/76A | - | €45,343,864 | +€45.3m | |
| Turnover | 70 | - | €44,667,008 | +€44.7m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | -€117,772 | -€117,772 | |
| Other operating income | 74 | - | €794,629 | +€794,629 | |
| Non-recurring operating income | 76A | €178,690 | - | -€178,690 | |
| Operating charges | 60/66A | - | €44,437,379 | +€44.4m | |
| Goods for resale, raw materials and consumables | 60 | - | €24,480,218 | +€24.5m | |
| Purchases | 600/8 | - | €25,875,781 | +€25.9m | |
| Change in stocks: decrease (increase) | 609 | - | -€1,395,563 | -€1.4m | |
| Services and other goods | 61 | - | €12,050,504 | +€12.1m | |
| Remuneration, social security and pensions | 62 | €2,450,881 | €2,494,773 | +€43,892 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,002,584 | €5,289,256 | +€286,671 | +5.7% |
| Other operating charges | 640/8 | €123,193 | €104,589 | -€18,604 | -15.1% |
| Non-recurring operating charges | 66A | - | €18,039 | +€18,039 | |
| Gross operating margin | 9900 | €6,668,688 | - | -€6.7m | |
| Operating profit (loss) | 9901 | -€907,970 | €906,486 | +€1.8m | |
| Financial income | 75/76B | €284,288 | €307,648 | +€23,360 | +8.2% |
| Recurring financial income | 75 | €284,288 | €307,648 | +€23,360 | +8.2% |
| Other financial income | 752/9 | - | €307,648 | +€307,648 | |
| Financial charges | 65/66B | €1,180,037 | €757,028 | -€423,010 | -35.8% |
| Recurring financial charges | 65 | €1,180,037 | €757,028 | -€423,010 | -35.8% |
| Debt charges | 650 | - | €725,131 | +€725,131 | |
| Other financial charges | 652/9 | - | €31,897 | +€31,897 | |
| Profit (loss) for the period before taxes | 9903 | -€1,803,719 | €457,106 | +€2.3m | |
| Income taxes | 67/77 | €761 | €532 | -€229 | -30.1% |
| Taxes | 670/3 | - | €532 | +€532 | |
| Profit (loss) for the period | 9904 | -€1,804,480 | €456,574 | +€2.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,804,480 | €456,574 | +€2.3m |
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 24 October 2026 via checked.be.