MLD Recyclage: 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.
MLD Recyclage
Largest movements
- Receivables within one year -€321,872
down €321,872 (-56.3%), from €571,972 to €250,100
- Tangible fixed assets -€54,172
down €54,172 (-53.1%), from €101,981 to €47,809
of which Leasing and similar rights: -€36,429
- Cash +€16,902
up €16,902 (+32.2%), from €52,463 to €69,365
mainly Receivables within one year (+€321,872) and Depreciation (+€58,772)
- Deferred charges and accrued income +€13,448
up €13,448 (+501%), from €2,685 to €16,133
- Trade debts -€151,757
down €151,757 (-44.6%), from €339,924 to €188,167
- Other debts -€103,032
down €103,032 (-83.9%), from €122,787 to €19,755
- Current portion of long-term debt -€41,707
no longer reported in 2025 (was €41,707)
- Profit (loss) carried forward -€26,341
down €26,341 (-10.5%), from €250,347 to €224,006
- Investment grants -€18,735
no longer reported in 2025 (was €18,735)
- Gross operating margin -€46,187
down €46,187 (-49.4%), from €93,565 to €47,378
- Depreciation -€32,918
down €32,918 (-35.9%), from €91,690 to €58,772
- Staff costs +€28,040
up €28,040 (+195%), from €14,385 to €42,425
- Financial income -€5,548
down €5,548 (-14.5%), from €38,211 to €32,664
- Other operating charges -€3,517
down €3,517 (-70.1%), from €5,014 to €1,498
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 | €856,319 | €517,576 | -€338,742 | -39.6% |
| Fixed assets | 21/28 | €136,976 | €82,804 | -€54,172 | -39.5% |
| Tangible fixed assets | 22/27 | €101,981 | €47,809 | -€54,172 | -53.1% |
| Land and buildings | 22 | €10,791 | €8,633 | -€2,158 | -20.0% |
| Plant, machinery and equipment | 23 | €51,826 | €37,630 | -€14,196 | -27.4% |
| Furniture and vehicles | 24 | €2,935 | €1,546 | -€1,389 | -47.3% |
| Leasing and similar rights | 25 | €36,429 | - | -€36,429 | |
| Financial fixed assets | 28 | €34,995 | €34,995 | = | 0.0% |
| Current assets | 29/58 | €719,343 | €434,773 | -€284,571 | -39.6% |
| Stocks and contracts in progress | 3 | €92,223 | €99,175 | +€6,952 | +7.5% |
| Stocks | 30/36 | €92,223 | €99,175 | +€6,952 | +7.5% |
| Amounts receivable within one year | 40/41 | €571,972 | €250,100 | -€321,872 | -56.3% |
| Trade receivables | 40 | €571,972 | €250,100 | -€321,872 | -56.3% |
| Cash at bank and in hand | 54/58 | €52,463 | €69,365 | +€16,902 | +32.2% |
| Deferred charges and accrued income | 490/1 | €2,685 | €16,133 | +€13,448 | +501% |
| Total equity and liabilities | 10/49 | €856,319 | €517,576 | -€338,742 | -39.6% |
| Equity | 10/15 | €302,082 | €257,006 | -€45,076 | -14.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €250,347 | €224,006 | -€26,341 | -10.5% |
| Investment grants | 15 | €18,735 | - | -€18,735 | |
| Amounts payable | 17/49 | €554,237 | €260,571 | -€293,667 | -53.0% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €514,237 | €220,571 | -€293,667 | -57.1% |
| Current portion of amounts payable after more than one year | 42 | €41,707 | - | -€41,707 | |
| Trade debts | 44 | €339,924 | €188,167 | -€151,757 | -44.6% |
| Suppliers | 440/4 | €339,924 | €188,167 | -€151,757 | -44.6% |
| Taxes, remuneration and social security | 45 | €9,819 | €12,648 | +€2,829 | +28.8% |
| Taxes | 450/3 | €9,819 | €3,820 | -€5,999 | -61.1% |
| Remuneration and social security | 454/9 | - | €8,828 | +€8,828 | |
| Other amounts payable | 47/48 | €122,787 | €19,755 | -€103,032 | -83.9% |
| Remuneration, social security and pensions | 62 | €14,385 | €42,425 | +€28,040 | +195% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,690 | €58,772 | -€32,918 | -35.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €159 | +€159 | |
| Other operating charges | 640/8 | €5,014 | €1,498 | -€3,517 | -70.1% |
| Gross operating margin | 9900 | €93,565 | €47,378 | -€46,187 | -49.4% |
| Operating profit (loss) | 9901 | -€17,525 | -€55,476 | -€37,951 | -217% |
| Financial income | 75/76B | €38,211 | €32,664 | -€5,548 | -14.5% |
| Recurring financial income | 75 | €38,211 | €32,664 | -€5,548 | -14.5% |
| Financial charges | 65/66B | €3,746 | €3,529 | -€218 | -5.8% |
| Recurring financial charges | 65 | €3,746 | €3,529 | -€218 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €16,940 | -€26,341 | -€43,281 | |
| Income taxes | 67/77 | €3,156 | - | -€3,156 | |
| Profit (loss) for the period | 9904 | €13,784 | -€26,341 | -€40,125 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,784 | -€26,341 | -€40,125 |
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 31 October 2026 via checked.be.