RECLAM: 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.
RECLAM
Largest movements
- Receivables within one year -€40,857
down €40,857 (-20.0%), from €203,800 to €162,943
of which Other amounts receivable: -€53,619
- Stocks and contracts +€30,631
up €30,631 (+86.8%), from €35,283 to €65,915
- Tangible fixed assets -€17,379
down €17,379 (-16.8%), from €103,220 to €85,841
of which Other tangible fixed assets: -€14,023
- Cash -€7,395
down €7,395 (-11.0%), from €66,980 to €59,585
mainly Contributions, distributions and other (-€111,455) and Stocks and contracts (-€30,631)
- Deferred charges and accrued income -€5,959
down €5,959 (-21.9%), from €27,147 to €21,188
- Reserves -€93,244
down €93,244 (-39.4%), from €236,518 to €143,273
of which Distributable reserves: -€90,563
- Other debts +€50,604
new in 2025: €50,604
- Trade debts +€24,886
up €24,886 (+69.8%), from €35,635 to €60,521
- Tax, wage and social debts -€23,114
down €23,114 (-32.3%), from €71,628 to €48,513
of which Remuneration and social security: -€23,676
- Current portion of long-term debt +€5,335
up €5,335 (+25.7%), from €20,792 to €26,126
- Staff costs -€41,017
down €41,017 (-17.1%), from €239,599 to €198,582
- Gross operating margin -€19,375
down €19,375 (-5.8%), from €332,681 to €313,306
- Other operating charges +€15,937
up €15,937 (+435%), from €3,663 to €19,600
- Financial charges -€5,729
down €5,729 (-38.9%), from €14,726 to €8,997
- Taxes -€5,320
down €5,320 (-17.5%), from €30,321 to €25,001
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 | €441,692 | €400,269 | -€41,422 | -9.4% |
| Fixed assets | 21/28 | €108,482 | €90,638 | -€17,844 | -16.4% |
| Intangible fixed assets | 21 | €629 | €164 | -€465 | -73.9% |
| Tangible fixed assets | 22/27 | €103,220 | €85,841 | -€17,379 | -16.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €21,511 | €13,870 | -€7,641 | -35.5% |
| Furniture and vehicles | 24 | €52,721 | €57,006 | +€4,286 | +8.1% |
| Other tangible fixed assets | 26 | €28,988 | €14,965 | -€14,023 | -48.4% |
| Financial fixed assets | 28 | €4,633 | €4,633 | = | 0.0% |
| Current assets | 29/58 | €333,210 | €309,631 | -€23,579 | -7.1% |
| Stocks and contracts in progress | 3 | €35,283 | €65,915 | +€30,631 | +86.8% |
| Stocks | 30/36 | €35,283 | €65,915 | +€30,631 | +86.8% |
| Amounts receivable within one year | 40/41 | €203,800 | €162,943 | -€40,857 | -20.0% |
| Trade receivables | 40 | €141,172 | €153,934 | +€12,762 | +9.0% |
| Other amounts receivable | 41 | €62,628 | €9,009 | -€53,619 | -85.6% |
| Cash at bank and in hand | 54/58 | €66,980 | €59,585 | -€7,395 | -11.0% |
| Deferred charges and accrued income | 490/1 | €27,147 | €21,188 | -€5,959 | -21.9% |
| Total equity and liabilities | 10/49 | €441,692 | €400,269 | -€41,422 | -9.4% |
| Equity | 10/15 | €255,118 | €161,873 | -€93,244 | -36.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €236,518 | €143,273 | -€93,244 | -39.4% |
| Tax-exempt reserves | 132 | €32,580 | €29,898 | -€2,682 | -8.2% |
| Distributable reserves | 133 | €203,938 | €113,375 | -€90,563 | -44.4% |
| Provisions and deferred taxes | 16 | €8,145 | €7,475 | -€670 | -8.2% |
| Deferred taxes | 168 | €8,145 | €7,475 | -€670 | -8.2% |
| Amounts payable | 17/49 | €178,429 | €230,922 | +€52,492 | +29.4% |
| Amounts payable after more than one year | 17 | €49,659 | €45,156 | -€4,503 | -9.1% |
| Financial debts | 170/4 | €49,659 | €45,156 | -€4,503 | -9.1% |
| Amounts payable within one year | 42/48 | €128,771 | €185,765 | +€56,995 | +44.3% |
| Current portion of amounts payable after more than one year | 42 | €20,792 | €26,126 | +€5,335 | +25.7% |
| Financial debts | 43 | €716 | - | -€716 | |
| Credit institutions | 430/8 | €710 | - | -€710 | |
| Other loans | 439 | €6 | - | -€6 | |
| Trade debts | 44 | €35,635 | €60,521 | +€24,886 | +69.8% |
| Suppliers | 440/4 | €35,635 | €60,521 | +€24,886 | +69.8% |
| Taxes, remuneration and social security | 45 | €71,628 | €48,513 | -€23,114 | -32.3% |
| Taxes | 450/3 | €32,127 | €32,689 | +€562 | +1.7% |
| Remuneration and social security | 454/9 | €39,501 | €15,824 | -€23,676 | -59.9% |
| Other amounts payable | 47/48 | - | €50,604 | +€50,604 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €239,599 | €198,582 | -€41,017 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,639 | €44,312 | -€1,327 | -2.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €3,663 | €19,600 | +€15,937 | +435% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €332,681 | €313,306 | -€19,375 | -5.8% |
| Operating profit (loss) | 9901 | €43,779 | €50,811 | +€7,032 | +16.1% |
| Financial income | 75/76B | €3,127 | €726 | -€2,400 | -76.8% |
| Recurring financial income | 75 | €3,127 | €726 | -€2,400 | -76.8% |
| Financial charges | 65/66B | €14,726 | €8,997 | -€5,729 | -38.9% |
| Recurring financial charges | 65 | €14,726 | €8,997 | -€5,729 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €32,180 | €42,541 | +€10,361 | +32.2% |
| Transfer from deferred taxes | 780 | €670 | €670 | = | 0.0% |
| Income taxes | 67/77 | €30,321 | €25,001 | -€5,320 | -17.5% |
| Profit (loss) for the period | 9904 | €2,530 | €18,210 | +€15,681 | +620% |
| Transfer from tax-exempt reserves | 789 | €2,682 | €2,682 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,211 | €20,892 | +€15,681 | +301% |
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 19 October 2026 via checked.be.