RCYCL: 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.
RCYCL
Largest movements
- Receivables within one year +€37,577
up €37,577 (+21.4%), from €175,712 to €213,289
of which Trade receivables: +€38,853
- Tangible fixed assets +€29,033
up €29,033 (+3.5%), from €832,408 to €861,441
of which Plant, machinery and equipment: +€91,556
- Cash +€14,101
up €14,101 (+8.0%), from €176,514 to €190,615
mainly Depreciation (+€84,564) and Debts within one year (+€50,075)
- Debts within one year +€50,075
up €50,075 (+22.8%), from €219,547 to €269,622
of which Tax, wage and social debts: +€55,321
- Debts after one year +€44,691
up €44,691 (+79.3%), from €56,331 to €101,022
- Investment grants -€26,991
down €26,991 (-8.2%), from €331,065 to €304,074
- Profit (loss) carried forward +€21,391
up €21,391 (+3.7%), from €579,597 to €600,989
- Staff costs +€148,153
up €148,153 (+18.9%), from €784,344 to €932,497
- Gross operating margin +€116,270
up €116,270 (+12.8%), from €906,133 to €1.0m
- Financial income -€27,763
down €27,763 (-39.8%), from €69,725 to €41,962
of which Non-recurring financial income: -€27,910
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.
Cash bridge derived
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 | €1,188,990 | €1,278,232 | +€89,242 | +7.5% |
| Fixed assets | 21/28 | €832,408 | €861,441 | +€29,033 | +3.5% |
| Tangible fixed assets | 22/27 | €832,408 | €861,441 | +€29,033 | +3.5% |
| Land and buildings | 22 | €798,658 | €726,166 | -€72,492 | -9.1% |
| Plant, machinery and equipment | 23 | €27,742 | €119,298 | +€91,556 | +330.0% |
| Furniture and vehicles | 24 | €6,008 | €15,977 | +€9,969 | +165.9% |
| Current assets | 29/58 | €356,582 | €416,791 | +€60,209 | +16.9% |
| Amounts receivable within one year | 40/41 | €175,712 | €213,289 | +€37,577 | +21.4% |
| Trade receivables | 40 | €125,352 | €164,204 | +€38,853 | +31.0% |
| Other amounts receivable | 41 | €50,360 | €49,084 | -€1,276 | -2.5% |
| Cash at bank and in hand | 54/58 | €176,514 | €190,615 | +€14,101 | +8.0% |
| Deferred charges and accrued income | 490/1 | €4,357 | €12,887 | +€8,531 | +195.8% |
| Total equity and liabilities | 10/49 | €1,188,990 | €1,278,232 | +€89,242 | +7.5% |
| Equity | 10/15 | €910,662 | €905,062 | -€5,600 | -0.6% |
| Profit (loss) carried forward | 14 | €579,597 | €600,989 | +€21,391 | +3.7% |
| Investment grants | 15 | €331,065 | €304,074 | -€26,991 | -8.2% |
| Amounts payable | 17/49 | €278,328 | €373,170 | +€94,842 | +34.1% |
| Amounts payable after more than one year | 17 | €56,331 | €101,022 | +€44,691 | +79.3% |
| Financial debts | 170/4 | €56,331 | €101,022 | +€44,691 | +79.3% |
| Amounts payable within one year | 42/48 | €219,547 | €269,622 | +€50,075 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €42,966 | €52,227 | +€9,261 | +21.6% |
| Trade debts | 44 | €76,096 | €63,606 | -€12,490 | -16.4% |
| Suppliers | 440/4 | €76,096 | €63,606 | -€12,490 | -16.4% |
| Taxes, remuneration and social security | 45 | €98,469 | €153,789 | +€55,321 | +56.2% |
| Taxes | 450/3 | €9,364 | €18,281 | +€8,917 | +95.2% |
| Remuneration and social security | 454/9 | €89,105 | €135,509 | +€46,404 | +52.1% |
| Accrued charges and deferred income | 492/3 | €2,450 | €2,525 | +€75 | +3.1% |
| Remuneration, social security and pensions | 62 | €784,344 | €932,497 | +€148,153 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,773 | €84,564 | -€208 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17 | €0 | -€17 | -100.0% |
| Other operating charges | 640/8 | €21,586 | €21,962 | +€377 | +1.7% |
| Non-recurring operating charges | 66A | €0 | €0 | = | |
| Gross operating margin | 9900 | €906,133 | €1,022,403 | +€116,270 | +12.8% |
| Operating profit (loss) | 9901 | €15,415 | -€16,620 | -€32,035 | |
| Financial income | 75/76B | €69,725 | €41,962 | -€27,763 | -39.8% |
| Recurring financial income | 75 | €32,132 | €32,279 | +€147 | +0.5% |
| Non-recurring financial income | 76B | €37,593 | €9,683 | -€27,910 | -74.2% |
| Financial charges | 65/66B | €8,511 | €3,873 | -€4,639 | -54.5% |
| Recurring financial charges | 65 | €4,066 | €3,448 | -€619 | -15.2% |
| Non-recurring financial charges | 66B | €4,445 | €425 | -€4,020 | -90.4% |
| Profit (loss) for the period before taxes | 9903 | €76,628 | €21,470 | -€55,159 | -72.0% |
| Income taxes | 67/77 | €74 | €78 | +€4 | +6.1% |
| Profit (loss) for the period | 9904 | €76,555 | €21,391 | -€55,163 | -72.1% |
| Profit (loss) for the period to be appropriated | 9905 | €76,555 | €21,391 | -€55,163 | -72.1% |
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 12 October 2026 via checked.be.