RECAM: what changed
Two fiscal 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.
RECAM
Largest movements
- Cash -€28,790
down €28,790 (-35.7%), from €80,729 to €51,939
mainly Investment in fixed assets (net) (-€31,365) and Net result for the year (-€2,456)
- Tangible fixed assets +€26,000
up €26,000 (+114.0%), from €22,806 to €48,806
of which Land and buildings: +€26,431
- Profit (loss) carried forward -€2,456
down €2,456 (-6.1%), from €40,016 to €37,560
- Taxes -€2,473
down €2,473 (-91.2%), from €2,712 to €239
- Depreciation +€1,488
up €1,488 (+59.2%), from €2,512 to €4,000
- Financial income -€753
down €753 (-30.8%), from €2,447 to €1,694
- Gross operating margin +€641
up €641 (+50.6%), from €1,267 to €1,908
- Other operating charges +€611
up €611 (+62.2%), from €982 to €1,593
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 | €213,293 | €212,378 | -€915 | -0.4% |
| Fixed assets | 21/28 | €130,512 | €157,878 | +€27,365 | +21.0% |
| Tangible fixed assets | 22/27 | €22,806 | €48,806 | +€26,000 | +114.0% |
| Land and buildings | 22 | €21,944 | €48,375 | +€26,431 | +120.4% |
| Plant, machinery and equipment | 23 | €862 | €431 | -€431 | -50.0% |
| Financial fixed assets | 28 | €107,707 | €109,072 | +€1,365 | +1.3% |
| Current assets | 29/58 | €82,781 | €54,500 | -€28,281 | -34.2% |
| Amounts receivable within one year | 40/41 | €2,052 | €2,561 | +€509 | +24.8% |
| Trade receivables | 40 | €637 | €637 | = | 0.0% |
| Other amounts receivable | 41 | €1,415 | €1,925 | +€509 | +36.0% |
| Cash at bank and in hand | 54/58 | €80,729 | €51,939 | -€28,790 | -35.7% |
| Total equity and liabilities | 10/49 | €213,293 | €212,378 | -€915 | -0.4% |
| Equity | 10/15 | €210,204 | €207,747 | -€2,456 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,587 | €151,587 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,440 | €7,440 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,440 | €7,440 | = | 0.0% |
| Distributable reserves | 133 | €144,147 | €144,147 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,016 | €37,560 | -€2,456 | -6.1% |
| Amounts payable | 17/49 | €3,090 | €4,630 | +€1,541 | +49.9% |
| Amounts payable within one year | 42/48 | €3,090 | €4,630 | +€1,541 | +49.9% |
| Trade debts | 44 | €308 | €2,138 | +€1,830 | +594.5% |
| Suppliers | 440/4 | €308 | €2,138 | +€1,830 | +594.5% |
| Other amounts payable | 47/48 | €2,782 | €2,493 | -€289 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,512 | €4,000 | +€1,488 | +59.2% |
| Other operating charges | 640/8 | €982 | €1,593 | +€611 | +62.2% |
| Gross operating margin | 9900 | €1,267 | €1,908 | +€641 | +50.6% |
| Operating profit (loss) | 9901 | -€2,227 | -€3,685 | -€1,458 | -65.5% |
| Financial income | 75/76B | €2,447 | €1,694 | -€753 | -30.8% |
| Recurring financial income | 75 | €2,447 | €1,694 | -€753 | -30.8% |
| Financial charges | 65/66B | €286 | €227 | -€60 | -20.8% |
| Recurring financial charges | 65 | €286 | €227 | -€60 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | -€66 | -€2,217 | -€2,151 | -3250.6% |
| Income taxes | 67/77 | €2,712 | €239 | -€2,473 | -91.2% |
| Profit (loss) for the period | 9904 | -€2,778 | -€2,456 | +€322 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,778 | -€2,456 | +€322 | +11.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.