Movarec: 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
Movarec
NACE 38.210, Materials recovery from waste
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€109,605
2024 · €211,228-€101,623
Equity
€2.2m
2024 · €2.1m+€109,605
Cash
€398,336
2024 · €483,705-€85,369
Balance sheet total
€3.4m
2024 · €3.8m-€436,652
Largest movements
Assets
- Tangible fixed assets -€387,857
down €387,857 (-32.5%), from €1.2m to €806,039
of which Leasing and similar rights: -€379,638
- Cash -€85,369
down €85,369 (-17.6%), from €483,705 to €398,336
mainly Debts after one year (-€343,685) and Current portion of long-term debt (-€144,328)
- Deferred charges and accrued income +€42,793
up €42,793 (+2,049%), from €2,089 to €44,882
Equity and liabilities
- Reserves +€425,190
up €425,190 (+27.2%), from €1.6m to €2.0m
of which Distributable reserves: +€455,266
- Debts after one year -€343,685
down €343,685 (-43.4%), from €791,661 to €447,977
- Profit (loss) carried forward -€315,585
down €315,585 (-100%), from €315,585 to €0
- Current portion of long-term debt -€144,328
down €144,328 (-29.6%), from €488,013 to €343,685
Income statement
- Gross operating margin -€497,139
down €497,139 (-43.1%), from €1.2m to €655,498
- Depreciation -€131,592
down €131,592 (-25.0%), from €527,051 to €395,459
- Financial charges -€101,457
down €101,457 (-79.9%), from €127,034 to €25,577
of which Non-recurring financial charges: -€66,536
- Staff costs -€66,333
down €66,333 (-27.8%), from €238,592 to €172,258
- Taxes +€17,355
up €17,355 (+3,359%), from €517 to €17,872
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
€211,228
Gross operating margin
-€497,139
Staff costs
+€66,333
Depreciation
+€131,592
Write-downs
+€2,550
Other operating charges
+€14,608
Other operating items
+€2,374
Financial income
-€15,774
Financial charges
+€101,457
Taxes
-€17,355
Deferred taxes and other
+€109,729
Result 2025
€109,605
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
+€410,246
Investment
-€7,602
Financing
-€488,013
Cash 2024
€483,705
From operations (derived)
+€410,246
Net result for the year
+€109,605
Depreciation
+€395,459
Receivables after one year
-€10,765
Stocks and contracts
+€29,255
Receivables within one year
-€12,271
Deferred charges and accrued income
-€42,793
Provisions
-€10,026
Trade debts
-€31,927
Tax, wage and social debts
-€6,195
Other debts
-€36
Accrued charges and deferred income
-€10,060
Investment (derived)
-€7,602
Investment in fixed assets (net)
-€7,602
Financing
-€488,013
Debts after one year
-€343,685
Current portion of long-term debt
-€144,328
Cash 2025
€398,336
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,818,305 | €3,381,654 | -€436,652 | -11.4% |
| Fixed assets | 21/28 | €1,393,896 | €1,006,039 | -€387,857 | -27.8% |
| Tangible fixed assets | 22/27 | €1,193,896 | €806,039 | -€387,857 | -32.5% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €14,622 | €11,155 | -€3,467 | -23.7% |
| Furniture and vehicles | 24 | €17,356 | €12,603 | -€4,753 | -27.4% |
| Leasing and similar rights | 25 | €1,161,919 | €782,281 | -€379,638 | -32.7% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €2,424,409 | €2,375,614 | -€48,795 | -2.0% |
| Amounts receivable after more than one year | 29 | €269,137 | €279,902 | +€10,765 | +4.0% |
| Other amounts receivable | 291 | €269,137 | €279,902 | +€10,765 | +4.0% |
| Stocks and contracts in progress | 3 | €29,255 | €0 | -€29,255 | -100% |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €29,255 | €0 | -€29,255 | -100% |
| Amounts receivable within one year | 40/41 | €1,640,224 | €1,652,494 | +€12,271 | +0.7% |
| Trade receivables | 40 | €496,674 | €389,855 | -€106,819 | -21.5% |
| Other amounts receivable | 41 | €1,143,550 | €1,262,639 | +€119,089 | +10.4% |
| Cash at bank and in hand | 54/58 | €483,705 | €398,336 | -€85,369 | -17.6% |
| Deferred charges and accrued income | 490/1 | €2,089 | €44,882 | +€42,793 | +2,049% |
| Total equity and liabilities | 10/49 | €3,818,305 | €3,381,654 | -€436,652 | -11.4% |
| Equity | 10/15 | €2,120,985 | €2,230,590 | +€109,605 | +5.2% |
| Contributions | 10/11 | €245,000 | €245,000 | = | 0.0% |
| Reserves | 13 | €1,560,400 | €1,985,590 | +€425,190 | +27.2% |
| Tax-exempt reserves | 132 | €564,900 | €534,823 | -€30,077 | -5.3% |
| Distributable reserves | 133 | €995,500 | €1,450,766 | +€455,266 | +45.7% |
| Profit (loss) carried forward | 14 | €315,585 | €0 | -€315,585 | -100% |
| Provisions and deferred taxes | 16 | €188,300 | €178,274 | -€10,026 | -5.3% |
| Deferred taxes | 168 | €188,300 | €178,274 | -€10,026 | -5.3% |
| Amounts payable | 17/49 | €1,509,021 | €972,790 | -€536,231 | -35.5% |
| Amounts payable after more than one year | 17 | €791,661 | €447,977 | -€343,685 | -43.4% |
| Financial debts | 170/4 | €791,661 | €447,977 | -€343,685 | -43.4% |
| Amounts payable within one year | 42/48 | €707,299 | €524,813 | -€182,486 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €488,013 | €343,685 | -€144,328 | -29.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €208,688 | €176,761 | -€31,927 | -15.3% |
| Suppliers | 440/4 | €208,688 | €176,761 | -€31,927 | -15.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €10,562 | €4,367 | -€6,195 | -58.7% |
| Taxes | 450/3 | €8,001 | €368 | -€7,634 | -95.4% |
| Remuneration and social security | 454/9 | €2,561 | €4,000 | +€1,438 | +56.2% |
| Other amounts payable | 47/48 | €36 | €0 | -€36 | -100% |
| Accrued charges and deferred income | 492/3 | €10,060 | €0 | -€10,060 | -100% |
| Non-recurring operating income | 76A | €520,174 | €33,000 | -€487,174 | -93.7% |
| Remuneration, social security and pensions | 62 | €238,592 | €172,258 | -€66,333 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €527,051 | €395,459 | -€131,592 | -25.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,896 | -€654 | -€2,550 | |
| Other operating charges | 640/8 | €16,577 | €1,969 | -€14,608 | -88.1% |
| Non-recurring operating charges | 66A | €2,438 | €63 | -€2,374 | -97.4% |
| Gross operating margin | 9900 | €1,152,637 | €655,498 | -€497,139 | -43.1% |
| Operating profit (loss) | 9901 | €366,084 | €86,403 | -€279,680 | -76.4% |
| Financial income | 75/76B | €72,398 | €56,625 | -€15,774 | -21.8% |
| Recurring financial income | 75 | €52,254 | €54,644 | +€2,390 | +4.6% |
| Non-recurring financial income | 76B | €20,145 | €1,981 | -€18,164 | -90.2% |
| Financial charges | 65/66B | €127,034 | €25,577 | -€101,457 | -79.9% |
| Recurring financial charges | 65 | €60,499 | €25,577 | -€34,922 | -57.7% |
| Non-recurring financial charges | 66B | €66,536 | €0 | -€66,536 | -100% |
| Profit (loss) for the period before taxes | 9903 | €311,448 | €117,451 | -€193,997 | -62.3% |
| Transfer from deferred taxes | 780 | €13,707 | €18,276 | +€4,569 | +33.3% |
| Transfer to deferred taxes | 680 | €113,410 | €8,250 | -€105,160 | -92.7% |
| Income taxes | 67/77 | €517 | €17,872 | +€17,355 | +3,359% |
| Profit (loss) for the period | 9904 | €211,228 | €109,605 | -€101,623 | -48.1% |
| Transfer from tax-exempt reserves | 789 | €41,120 | €54,827 | +€13,707 | +33.3% |
| Transfer to tax-exempt reserves | 689 | €340,229 | €24,750 | -€315,479 | -92.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,881 | €139,682 | +€227,562 |
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 13 October 2026 via checked.be.