RECIM: 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.
What changed
RECIM
NACE 52.100, Warehousing and storage
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€601,313
2024 · €599,489+€1,824
Equity
€5.1m
2024 · €4.5m+€601,313
Cash
€58,755
2024 · €45,367+€13,389
Balance sheet total
€16.9m
2024 · €14.3m+€2.6m
Largest movements
Assets
- Receivables within one year +€2.8m
up €2.8m (+91.0%), from €3.1m to €5.9m
of which Other amounts receivable: +€2.4m
- Tangible fixed assets -€226,228
down €226,228 (-2.0%), from €11.2m to €10.9m
of which Land and buildings: -€180,378
Equity and liabilities
- Short-term financial debts +€4.0m
up €4.0m (+5964.7%), from €67,604 to €4.1m
- Debts after one year -€2.1m
down €2.1m (-23.6%), from €9.0m to €6.9m
- Profit (loss) carried forward +€571,248
up €571,248 (+39.3%), from €1.5m to €2.0m
- Tax, wage and social debts +€176,550
up €176,550 (+206.4%), from €85,530 to €262,080
Income statement
- Financial charges -€98,614
down €98,614 (-25.0%), from €394,511 to €295,897
- Gross operating margin -€71,719
down €71,719 (-5.4%), from €1.3m to €1.3m
- Taxes +€22,999
up €22,999 (+11.7%), from €195,981 to €218,980
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
€599,489
Gross operating margin
-€71,719
Depreciation
-€1,293
Other operating charges
-€1,126
Financial income
+€346
Financial charges
+€98,614
Taxes
-€22,999
Result 2025
€601,313
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.
From operations
-€1.8m
Investment
+€20,000
Financing
+€1.8m
Cash 2024
€45,367
From operations (derived)
-€1.8m
Net result for the year
+€601,313
Depreciation
+€206,228
Receivables within one year
-€2.8m
Deferred charges and accrued income
+€448
Trade debts
-€14,103
Tax, wage and social debts
+€176,550
Investment (derived)
+€20,000
Investment in fixed assets (net)
+€20,000
Financing
+€1.8m
Debts after one year
-€2.1m
Current portion of long-term debt
-€60,677
Short-term financial debts
+€4.0m
Cash 2025
€58,755
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,306,612 | €16,910,599 | +€2.6m | +18.2% |
| Fixed assets | 21/28 | €11,163,318 | €10,937,090 | -€226,228 | -2.0% |
| Tangible fixed assets | 22/27 | €11,163,318 | €10,937,090 | -€226,228 | -2.0% |
| Land and buildings | 22 | €11,117,468 | €10,937,090 | -€180,378 | -1.6% |
| Assets under construction and advance payments | 27 | €45,850 | €0 | -€45,850 | -100.0% |
| Current assets | 29/58 | €3,143,294 | €5,973,509 | +€2.8m | +90.0% |
| Amounts receivable within one year | 40/41 | €3,097,479 | €5,914,754 | +€2.8m | +91.0% |
| Trade receivables | 40 | €15,000 | €389,110 | +€374,110 | +2494.1% |
| Other amounts receivable | 41 | €3,082,479 | €5,525,643 | +€2.4m | +79.3% |
| Cash at bank and in hand | 54/58 | €45,367 | €58,755 | +€13,389 | +29.5% |
| Deferred charges and accrued income | 490/1 | €448 | €0 | -€448 | -100.0% |
| Total equity and liabilities | 10/49 | €14,306,612 | €16,910,599 | +€2.6m | +18.2% |
| Equity | 10/15 | €4,493,974 | €5,095,288 | +€601,313 | +13.4% |
| Contributions | 10/11 | €2,817,268 | €2,817,268 | = | 0.0% |
| Capital | 10 | €2,817,268 | €2,817,268 | = | 0.0% |
| Issued capital | 100 | €2,817,268 | €2,817,268 | = | 0.0% |
| Reserves | 13 | €221,987 | €252,053 | +€30,066 | +13.5% |
| Non-distributable reserves | 130/1 | €158,837 | €188,903 | +€30,066 | +18.9% |
| Legal reserve | 130 | €154,966 | €185,032 | +€30,066 | +19.4% |
| Reserves not available under the articles | 1311 | €3,871 | €3,871 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,454,719 | €2,025,967 | +€571,248 | +39.3% |
| Amounts payable | 17/49 | €9,812,638 | €11,815,311 | +€2.0m | +20.4% |
| Amounts payable after more than one year | 17 | €9,028,822 | €6,897,330 | -€2.1m | -23.6% |
| Financial debts | 170/4 | €9,028,822 | €6,897,330 | -€2.1m | -23.6% |
| Amounts payable within one year | 42/48 | €783,816 | €4,917,981 | +€4.1m | +527.4% |
| Current portion of amounts payable after more than one year | 42 | €610,517 | €549,840 | -€60,677 | -9.9% |
| Financial debts | 43 | €67,604 | €4,100,000 | +€4.0m | +5964.7% |
| Credit institutions | 430/8 | €67,604 | €4,100,000 | +€4.0m | +5964.7% |
| Trade debts | 44 | €20,165 | €6,061 | -€14,103 | -69.9% |
| Suppliers | 440/4 | €20,165 | €6,061 | -€14,103 | -69.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €85,530 | €262,080 | +€176,550 | +206.4% |
| Taxes | 450/3 | €85,530 | €262,080 | +€176,550 | +206.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,936 | €206,228 | +€1,293 | +0.6% |
| Other operating charges | 640/8 | €35,913 | €37,038 | +€1,126 | +3.1% |
| Gross operating margin | 9900 | €1,328,154 | €1,256,435 | -€71,719 | -5.4% |
| Operating profit (loss) | 9901 | €1,087,305 | €1,013,168 | -€74,137 | -6.8% |
| Financial income | 75/76B | €102,676 | €103,022 | +€346 | +0.3% |
| Recurring financial income | 75 | €102,676 | €103,022 | +€346 | +0.3% |
| Financial charges | 65/66B | €394,511 | €295,897 | -€98,614 | -25.0% |
| Recurring financial charges | 65 | €394,511 | €295,897 | -€98,614 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €795,470 | €820,293 | +€24,823 | +3.1% |
| Income taxes | 67/77 | €195,981 | €218,980 | +€22,999 | +11.7% |
| Profit (loss) for the period | 9904 | €599,489 | €601,313 | +€1,824 | +0.3% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €0 | -€63,150 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €536,339 | €601,313 | +€64,974 | +12.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.