NELLES RECYCLAGE: what changed
What changed
NELLES RECYCLAGE
NACE 38.210, Materials recovery from waste
filed annual accounts (NBB)
Net result for the year
€7,650
2024 · -€55,492+€63,142
Equity
€379,785
2024 · €372,135+€7,650
Cash
€28,593
2024 · €48,510-€19,917
Balance sheet total
€2.0m
2024 · €2.1m-€112,865
Largest movements
Assets
- Tangible fixed assets -€112,769
down €112,769 (-6.1%), from €1.9m to €1.7m
of which Leasing and similar rights: -€163,857
- Stocks and contracts +€43,849
up €43,849 (+85.7%), from €51,174 to €95,023
- Receivables within one year -€21,751
down €21,751 (-23.6%), from €92,020 to €70,269
of which Other amounts receivable: -€13,062
Equity and liabilities
- Debts after one year -€112,929
down €112,929 (-9.0%), from €1.3m to €1.1m
Income statement
- Gross operating margin +€95,072
up €95,072 (+25.2%), from €377,330 to €472,402
- Depreciation +€31,102
up €31,102 (+17.3%), from €180,050 to €211,152
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€55,492
Gross operating margin
+€95,072
Staff costs
+€3,069
Depreciation
-€31,102
Write-downs
+€634
Other operating charges
-€2,167
Other operating items
-€435
Financial income
-€23
Financial charges
-€1,896
Taxes
-€8
Result 2025
€7,650
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€171,322
Investment
-€98,383
Financing
-€92,855
Cash 2024
€48,510
From operations (derived)
+€171,322
Net result for the year
+€7,650
Depreciation
+€211,152
Stocks and contracts
-€43,849
Receivables within one year
+€21,751
Deferred charges and accrued income
+€2,278
Provisions
-€1,563
Trade debts
-€13,180
Tax, wage and social debts
-€12,917
Investment (derived)
-€98,383
Investment in fixed assets (net)
-€98,383
Financing
-€92,855
Debts after one year
-€112,929
Current portion of long-term debt
+€20,073
Cash 2025
€28,593
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,080,467 | €1,967,602 | -€112,865 | -5.4% |
| Fixed assets | 21/28 | €1,886,485 | €1,773,717 | -€112,769 | -6.0% |
| Tangible fixed assets | 22/27 | €1,854,112 | €1,741,343 | -€112,769 | -6.1% |
| Land and buildings | 22 | €711,672 | €673,808 | -€37,864 | -5.3% |
| Plant, machinery and equipment | 23 | €16,838 | €79,340 | +€62,502 | +371% |
| Furniture and vehicles | 24 | €6,029 | €2,198 | -€3,831 | -63.5% |
| Leasing and similar rights | 25 | €1,119,573 | €955,716 | -€163,857 | -14.6% |
| Assets under construction and advance payments | 27 | - | €30,282 | +€30,282 | |
| Financial fixed assets | 28 | €32,373 | €32,373 | = | 0.0% |
| Current assets | 29/58 | €193,981 | €193,885 | -€96 | 0.0% |
| Stocks and contracts in progress | 3 | €51,174 | €95,023 | +€43,849 | +85.7% |
| Stocks | 30/36 | €51,174 | €95,023 | +€43,849 | +85.7% |
| Amounts receivable within one year | 40/41 | €92,020 | €70,269 | -€21,751 | -23.6% |
| Trade receivables | 40 | €70,913 | €62,224 | -€8,689 | -12.3% |
| Other amounts receivable | 41 | €21,107 | €8,045 | -€13,062 | -61.9% |
| Cash at bank and in hand | 54/58 | €48,510 | €28,593 | -€19,917 | -41.1% |
| Deferred charges and accrued income | 490/1 | €2,278 | - | -€2,278 | |
| Total equity and liabilities | 10/49 | €2,080,467 | €1,967,602 | -€112,865 | -5.4% |
| Equity | 10/15 | €372,135 | €379,785 | +€7,650 | +2.1% |
| Contributions | 10/11 | €115,000 | €119,535 | +€4,535 | +3.9% |
| Reserves | 13 | €306,306 | €297,084 | -€9,222 | -3.0% |
| Non-distributable reserves | 130/1 | €4,535 | - | -€4,535 | |
| Reserves not available under the articles | 1311 | €4,535 | - | -€4,535 | |
| Tax-exempt reserves | 132 | €51,771 | €47,084 | -€4,688 | -9.1% |
| Distributable reserves | 133 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,171 | -€36,834 | +€12,337 | +25.1% |
| Provisions and deferred taxes | 16 | €12,924 | €11,361 | -€1,563 | -12.1% |
| Deferred taxes | 168 | €12,924 | €11,361 | -€1,563 | -12.1% |
| Amounts payable | 17/49 | €1,695,408 | €1,576,456 | -€118,952 | -7.0% |
| Amounts payable after more than one year | 17 | €1,255,632 | €1,142,703 | -€112,929 | -9.0% |
| Financial debts | 170/4 | €1,255,632 | €1,142,703 | -€112,929 | -9.0% |
| Amounts payable within one year | 42/48 | €439,776 | €433,752 | -€6,024 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €183,880 | €203,953 | +€20,073 | +10.9% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €86,438 | €73,258 | -€13,180 | -15.2% |
| Suppliers | 440/4 | €86,438 | €73,258 | -€13,180 | -15.2% |
| Taxes, remuneration and social security | 45 | €19,428 | €6,511 | -€12,917 | -66.5% |
| Taxes | 450/3 | €5,189 | €1,735 | -€3,454 | -66.6% |
| Remuneration and social security | 454/9 | €14,238 | €4,776 | -€9,462 | -66.5% |
| Other amounts payable | 47/48 | €30 | €30 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €194,040 | €190,971 | -€3,069 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180,050 | €211,152 | +€31,102 | +17.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€634 | -€634 | |
| Other operating charges | 640/8 | €8,158 | €10,325 | +€2,167 | +26.6% |
| Non-recurring operating charges | 66A | - | €435 | +€435 | |
| Gross operating margin | 9900 | €377,330 | €472,402 | +€95,072 | +25.2% |
| Operating profit (loss) | 9901 | -€4,918 | €60,153 | +€65,070 | |
| Financial income | 75/76B | €24 | €0 | -€23 | -98.0% |
| Recurring financial income | 75 | €24 | €0 | -€23 | -98.0% |
| Financial charges | 65/66B | €51,965 | €53,862 | +€1,896 | +3.6% |
| Recurring financial charges | 65 | €51,965 | €53,862 | +€1,896 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€56,859 | €6,292 | +€63,150 | |
| Transfer from deferred taxes | 780 | €1,563 | €1,563 | = | 0.0% |
| Income taxes | 67/77 | €196 | €204 | +€8 | +4.3% |
| Profit (loss) for the period | 9904 | -€55,492 | €7,650 | +€63,142 | |
| Transfer from tax-exempt reserves | 789 | €4,688 | €4,688 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,805 | €12,337 | +€63,142 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.