FM 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.
FM Recycling
Largest movements
- Tangible fixed assets -€83,053
down €83,053 (-95.7%), from €86,817 to €3,764
of which Furniture and vehicles: -€82,555
- Receivables within one year -€20,210
down €20,210 (-30.9%), from €65,303 to €45,093
of which Trade receivables: -€52,310
- Stocks and contracts -€5,392
down €5,392 (-74.5%), from €7,242 to €1,850
- Current portion of long-term debt -€52,177
down €52,177 (-100%), from €52,177 to €0
- Debts after one year -€38,349
no longer reported in 2025 (was €38,349)
- Profit (loss) carried forward -€21,627
down €21,627 (-97.3%), from €22,222 to €595
- Other debts +€7,427
up €7,427 (+18.2%), from €40,785 to €48,212
- Gross operating margin -€52,772
down €52,772 (-69.6%), from €75,824 to €23,052
- Other operating charges -€15,354
down €15,354 (-86.2%), from €17,809 to €2,456
- Depreciation -€10,162
down €10,162 (-26.1%), from €38,990 to €28,828
- Taxes -€1,833
down €1,833 (-100%), from €1,833 to €0
- Financial income +€846
new in 2025: €846
of which Financial income: +€846
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €182,884 | €73,641 | -€109,242 | -59.7% |
| Fixed assets | 21/28 | €86,817 | €4,264 | -€82,553 | -95.1% |
| Tangible fixed assets | 22/27 | €86,817 | €3,764 | -€83,053 | -95.7% |
| Plant, machinery and equipment | 23 | €498 | - | -€498 | |
| Furniture and vehicles | 24 | €86,319 | €3,764 | -€82,555 | -95.6% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €96,066 | €69,377 | -€26,689 | -27.8% |
| Stocks and contracts in progress | 3 | €7,242 | €1,850 | -€5,392 | -74.5% |
| Stocks | 30/36 | €7,242 | €1,850 | -€5,392 | -74.5% |
| Amounts receivable within one year | 40/41 | €65,303 | €45,093 | -€20,210 | -30.9% |
| Trade receivables | 40 | €54,664 | €2,354 | -€52,310 | -95.7% |
| Other amounts receivable | 41 | €10,639 | €42,739 | +€32,100 | +302% |
| Cash at bank and in hand | 54/58 | €8,906 | €7,146 | -€1,759 | -19.8% |
| Deferred charges and accrued income | 490/1 | €14,615 | €15,288 | +€672 | +4.6% |
| Total equity and liabilities | 10/49 | €182,884 | €73,641 | -€109,242 | -59.7% |
| Equity | 10/15 | €23,222 | €1,595 | -€21,627 | -93.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,222 | €595 | -€21,627 | -97.3% |
| Amounts payable | 17/49 | €159,662 | €72,047 | -€87,616 | -54.9% |
| Amounts payable after more than one year | 17 | €38,349 | - | -€38,349 | |
| Financial debts | 170/4 | €38,349 | - | -€38,349 | |
| Amounts payable within one year | 42/48 | €119,988 | €72,047 | -€47,942 | -40.0% |
| Current portion of amounts payable after more than one year | 42 | €52,177 | €0 | -€52,177 | -100% |
| Trade debts | 44 | €21,940 | €20,551 | -€1,389 | -6.3% |
| Suppliers | 440/4 | €21,940 | €20,551 | -€1,389 | -6.3% |
| Taxes, remuneration and social security | 45 | €5,086 | €3,283 | -€1,803 | -35.4% |
| Taxes | 450/3 | €5,086 | €3,283 | -€1,803 | -35.4% |
| Other amounts payable | 47/48 | €40,785 | €48,212 | +€7,427 | +18.2% |
| Accrued charges and deferred income | 492/3 | €1,325 | - | -€1,325 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,990 | €28,828 | -€10,162 | -26.1% |
| Other operating charges | 640/8 | €17,809 | €2,456 | -€15,354 | -86.2% |
| Non-recurring operating charges | 66A | - | €6,757 | +€6,757 | |
| Gross operating margin | 9900 | €75,824 | €23,052 | -€52,772 | -69.6% |
| Operating profit (loss) | 9901 | €19,025 | -€14,988 | -€34,013 | |
| Financial income | 75/76B | - | €846 | +€846 | |
| Recurring financial income | 75 | - | €846 | +€846 | |
| Non-recurring financial income | 76B | - | €0 | = | |
| Financial charges | 65/66B | €5,641 | €4,918 | -€724 | -12.8% |
| Recurring financial charges | 65 | €5,641 | €4,918 | -€724 | -12.8% |
| Non-recurring financial charges | 66B | - | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | €13,384 | -€19,060 | -€32,444 | |
| Income taxes | 67/77 | €1,833 | €0 | -€1,833 | -100% |
| Profit (loss) for the period | 9904 | €11,551 | -€19,060 | -€30,611 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,551 | -€19,060 | -€30,611 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.