RECA ASSOCIATES: 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.
RECA ASSOCIATES
Largest movements
- Tangible fixed assets -€45,664
down €45,664 (-9.6%), from €476,436 to €430,773
of which Land and buildings: -€45,025
- Cash +€21,997
up €21,997 (+1,579%), from €1,393 to €23,391
mainly Depreciation (+€56,304) and Receivables within one year (+€12,180)
- Receivables within one year -€12,180
down €12,180 (-79.3%), from €15,360 to €3,180
of which Trade receivables: -€15,056
- Debts after one year -€29,473
down €29,473 (-9.5%), from €310,726 to €281,253
of which Financial debts: -€29,473
- Trade debts -€16,452
down €16,452 (-97.6%), from €16,851 to €400
- Profit (loss) carried forward +€11,459
up €11,459 (+89.0%), from -€12,882 to -€1,423
- Depreciation +€7,731
up €7,731 (+15.9%), from €48,573 to €56,304
- Gross operating margin -€2,254
down €2,254 (-2.7%), from €83,916 to €81,662
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 | €495,392 | €459,632 | -€35,760 | -7.2% |
| Fixed assets | 21/28 | €476,436 | €430,773 | -€45,664 | -9.6% |
| Tangible fixed assets | 22/27 | €476,436 | €430,773 | -€45,664 | -9.6% |
| Land and buildings | 22 | €474,599 | €429,574 | -€45,025 | -9.5% |
| Plant, machinery and equipment | 23 | €1,838 | €1,199 | -€639 | -34.8% |
| Current assets | 29/58 | €18,956 | €28,859 | +€9,903 | +52.2% |
| Amounts receivable within one year | 40/41 | €15,360 | €3,180 | -€12,180 | -79.3% |
| Trade receivables | 40 | €15,056 | €0 | -€15,056 | -100% |
| Other amounts receivable | 41 | €304 | €3,180 | +€2,876 | +948% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,393 | €23,391 | +€21,997 | +1,579% |
| Deferred charges and accrued income | 490/1 | €2,203 | €2,289 | +€86 | +3.9% |
| Total equity and liabilities | 10/49 | €495,392 | €459,632 | -€35,760 | -7.2% |
| Equity | 10/15 | €107,118 | €118,577 | +€11,459 | +10.7% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,882 | -€1,423 | +€11,459 | +89.0% |
| Amounts payable | 17/49 | €388,274 | €341,055 | -€47,220 | -12.2% |
| Amounts payable after more than one year | 17 | €310,726 | €281,253 | -€29,473 | -9.5% |
| Financial debts | 170/4 | €120,726 | €91,253 | -€29,473 | -24.4% |
| Other amounts payable | 178/9 | €190,000 | €190,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €77,549 | €59,802 | -€17,747 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €33,174 | €29,473 | -€3,702 | -11.2% |
| Trade debts | 44 | €16,851 | €400 | -€16,452 | -97.6% |
| Suppliers | 440/4 | €16,851 | €400 | -€16,452 | -97.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €27,523 | €29,929 | +€2,406 | +8.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,573 | €56,304 | +€7,731 | +15.9% |
| Other operating charges | 640/8 | €3,657 | €3,772 | +€115 | +3.1% |
| Non-recurring operating charges | 66A | - | €56 | +€56 | |
| Gross operating margin | 9900 | €83,916 | €81,662 | -€2,254 | -2.7% |
| Operating profit (loss) | 9901 | €31,687 | €21,530 | -€10,156 | -32.1% |
| Financial income | 75/76B | €599 | €0 | -€599 | -100% |
| Recurring financial income | 75 | €599 | €0 | -€599 | -100% |
| Financial charges | 65/66B | €9,900 | €10,071 | +€171 | +1.7% |
| Recurring financial charges | 65 | €9,900 | €10,071 | +€171 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €22,386 | €11,459 | -€10,927 | -48.8% |
| Profit (loss) for the period | 9904 | €22,386 | €11,459 | -€10,927 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,386 | €11,459 | -€10,927 | -48.8% |
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 25 October 2026 via checked.be.