Grand Recycle: 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.
Grand Recycle
Largest movements
- Receivables within one year +€525,494
up €525,494 (+922%), from €56,966 to €582,460
of which Trade receivables: +€522,265
- Stocks and contracts +€93,000
up €93,000 (+88.2%), from €105,479 to €198,479
- Cash -€16,607
down €16,607 (-20.3%), from €81,732 to €65,125
mainly Receivables within one year (-€525,494) and Stocks and contracts (-€93,000)
- Trade debts +€219,767
up €219,767 (+1,153%), from €19,053 to €238,821
- Tax, wage and social debts +€202,514
up €202,514 (+437%), from €46,374 to €248,888
of which Taxes: +€198,972
- Profit (loss) carried forward +€145,124
up €145,124 (+91.6%), from €158,468 to €303,592
- Current portion of long-term debt +€48,719
up €48,719 (+193%), from €25,304 to €74,023
- Debts after one year -€20,063
down €20,063 (-32.9%), from €60,940 to €40,877
- Gross operating margin +€142,339
up €142,339 (+136%), from €104,485 to €246,823
- Staff costs +€36,769
new in 2025: €36,769
- Taxes +€26,548
up €26,548 (+131%), from €20,223 to €46,771
- Financial charges -€3,122
down €3,122 (-61.4%), from €5,087 to €1,964
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 | €312,573 | €908,283 | +€595,710 | +191% |
| Fixed assets | 21/28 | €51,287 | €43,780 | -€7,507 | -14.6% |
| Tangible fixed assets | 22/27 | €51,287 | €43,780 | -€7,507 | -14.6% |
| Furniture and vehicles | 24 | €51,287 | €43,780 | -€7,507 | -14.6% |
| Current assets | 29/58 | €261,286 | €864,503 | +€603,217 | +231% |
| Amounts receivable after more than one year | 29 | €17,110 | €17,110 | = | 0.0% |
| Other amounts receivable | 291 | €17,110 | €17,110 | = | 0.0% |
| Stocks and contracts in progress | 3 | €105,479 | €198,479 | +€93,000 | +88.2% |
| Stocks | 30/36 | €105,479 | €198,479 | +€93,000 | +88.2% |
| Amounts receivable within one year | 40/41 | €56,966 | €582,460 | +€525,494 | +922% |
| Trade receivables | 40 | €56,966 | €579,231 | +€522,265 | +917% |
| Other amounts receivable | 41 | - | €3,230 | +€3,230 | |
| Cash at bank and in hand | 54/58 | €81,732 | €65,125 | -€16,607 | -20.3% |
| Deferred charges and accrued income | 490/1 | - | €1,329 | +€1,329 | |
| Total equity and liabilities | 10/49 | €312,573 | €908,283 | +€595,710 | +191% |
| Equity | 10/15 | €160,468 | €305,592 | +€145,124 | +90.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,468 | €303,592 | +€145,124 | +91.6% |
| Amounts payable | 17/49 | €152,105 | €602,691 | +€450,586 | +296% |
| Amounts payable after more than one year | 17 | €60,940 | €40,877 | -€20,063 | -32.9% |
| Financial debts | 170/4 | €60,940 | €40,877 | -€20,063 | -32.9% |
| Amounts payable within one year | 42/48 | €91,165 | €561,814 | +€470,649 | +516% |
| Current portion of amounts payable after more than one year | 42 | €25,304 | €74,023 | +€48,719 | +193% |
| Trade debts | 44 | €19,053 | €238,821 | +€219,767 | +1,153% |
| Suppliers | 440/4 | €19,053 | €238,821 | +€219,767 | +1,153% |
| Taxes, remuneration and social security | 45 | €46,374 | €248,888 | +€202,514 | +437% |
| Taxes | 450/3 | €46,374 | €245,346 | +€198,972 | +429% |
| Remuneration and social security | 454/9 | - | €3,542 | +€3,542 | |
| Other amounts payable | 47/48 | €433 | €83 | -€350 | -80.9% |
| Remuneration, social security and pensions | 62 | - | €36,769 | +€36,769 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,579 | €16,389 | +€810 | +5.2% |
| Other operating charges | 640/8 | €2,449 | €1,149 | -€1,300 | -53.1% |
| Gross operating margin | 9900 | €104,485 | €246,823 | +€142,339 | +136% |
| Operating profit (loss) | 9901 | €86,457 | €192,516 | +€106,059 | +123% |
| Financial income | 75/76B | €2,672 | €1,343 | -€1,329 | -49.7% |
| Recurring financial income | 75 | €2,672 | €1,343 | -€1,329 | -49.7% |
| Financial charges | 65/66B | €5,087 | €1,964 | -€3,122 | -61.4% |
| Recurring financial charges | 65 | €5,087 | €1,964 | -€3,122 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €84,042 | €191,894 | +€107,853 | +128% |
| Income taxes | 67/77 | €20,223 | €46,771 | +€26,548 | +131% |
| Profit (loss) for the period | 9904 | €63,819 | €145,124 | +€81,305 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €63,819 | €145,124 | +€81,305 | +127% |
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 26 October 2026 via checked.be.