RECMA: 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
RECMA
NACE 38.210, Materials recovery from waste
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · -€583,630+€1.7m
Equity
€1.5m
2024 · €379,651+€1.1m
Cash
€793,129
2024 · €2.4m-€1.6m
Balance sheet total
€4.7m
2024 · €4.0m+€743,792
Largest movements
Assets
- Current investments +€2.7m
new in 2025: €2.7m
- Cash -€1.6m
down €1.6m (-67.0%), from €2.4m to €793,129
mainly Current investments (-€2.7m) and Accrued charges and deferred income (-€375,407)
- Tangible fixed assets -€172,816
down €172,816 (-23.8%), from €725,444 to €552,628
of which Land and buildings: -€198,372
- Receivables within one year -€143,406
down €143,406 (-21.4%), from €671,396 to €527,990
of which Trade receivables: -€78,962
Equity and liabilities
- Profit (loss) carried forward +€1.1m
up €1.1m, from -€1.1m to €5,701
- Provisions +€528,841
up €528,841 (+2073.9%), from €25,500 to €554,341
- Accrued charges and deferred income -€375,407
down €375,407 (-22.9%), from €1.6m to €1.3m
- Tax, wage and social debts -€267,927
down €267,927 (-46.3%), from €579,062 to €311,135
of which Remuneration and social security: -€263,701
- Debts after one year -€212,049
down €212,049 (-21.7%), from €976,494 to €764,445
Income statement
- Staff costs -€1.6m
down €1.6m (-37.5%), from €4.3m to €2.7m
- Turnover -€1.3m
down €1.3m (-32.2%), from €4.0m to €2.7m
- Gross operating margin +€621,066
up €621,066 (+15.7%), from €4.0m to €4.6m
- Purchases and services -€342,321
down €342,321 (-30.7%), from €1.1m to €773,683
- Provisions +€128,841
new in 2025: €128,841
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
-€583,630
Gross operating margin
+€621,066
Staff costs
+€1.6m
Depreciation
+€13,875
Write-downs
+€12,453
Provisions
-€128,841
Other operating charges
+€2,356
Other operating items
-€388,872
Financial income
+€14,124
Financial charges
-€36,349
Taxes
-€294
Result 2025
€1.1m
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
+€1.2m
Investment
-€2.6m
Financing
-€208,287
Cash 2024
€2.4m
From operations (derived)
+€1.2m
Net result for the year
+€1.1m
Depreciation
+€105,982
Receivables within one year
+€143,406
Deferred charges and accrued income
+€2,378
Provisions
+€528,841
Trade debts
-€90,859
Tax, wage and social debts
-€267,927
Other debts
+€11,078
Accrued charges and deferred income
-€375,407
Investment (derived)
-€2.6m
Investment in fixed assets (net)
+€96,804
Current investments
-€2.7m
Financing
-€208,287
Debts after one year
-€212,049
Current portion of long-term debt
+€10,819
Contributions, distributions and other
-€7,057
Cash 2025
€793,129
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,977,868 | €4,721,660 | +€743,792 | +18.7% |
| Fixed assets | 21/28 | €871,467 | €668,681 | -€202,786 | -23.3% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €725,444 | €552,628 | -€172,816 | -23.8% |
| Land and buildings | 22 | €547,360 | €348,988 | -€198,372 | -36.2% |
| Plant, machinery and equipment | 23 | €80,851 | €122,479 | +€41,629 | +51.5% |
| Furniture and vehicles | 24 | €18,136 | €11,914 | -€6,223 | -34.3% |
| Leasing and similar rights | 25 | €79,097 | €69,247 | -€9,850 | -12.5% |
| Financial fixed assets | 28 | €146,023 | €116,053 | -€29,970 | -20.5% |
| Current assets | 29/58 | €3,106,401 | €4,052,979 | +€946,578 | +30.5% |
| Amounts receivable within one year | 40/41 | €671,396 | €527,990 | -€143,406 | -21.4% |
| Trade receivables | 40 | €388,339 | €309,377 | -€78,962 | -20.3% |
| Other amounts receivable | 41 | €283,057 | €218,614 | -€64,443 | -22.8% |
| Current investments | 50/53 | - | €2,700,000 | +€2.7m | |
| Cash at bank and in hand | 54/58 | €2,400,768 | €793,129 | -€1.6m | -67.0% |
| Deferred charges and accrued income | 490/1 | €34,237 | €31,860 | -€2,378 | -6.9% |
| Total equity and liabilities | 10/49 | €3,977,868 | €4,721,660 | +€743,792 | +18.7% |
| Equity | 10/15 | €379,651 | €1,518,947 | +€1.1m | +300.1% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €1,447,782 | €1,447,782 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,909 | €27,909 | = | 0.0% |
| Reserves not available under the articles | 1311 | €27,909 | €27,909 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,419,873 | €1,419,873 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,140,652 | €5,701 | +€1.1m | |
| Investment grants | 15 | €41,534 | €34,477 | -€7,057 | -17.0% |
| Provisions and deferred taxes | 16 | €25,500 | €554,341 | +€528,841 | +2073.9% |
| Provisions for liabilities and charges | 160/5 | €25,500 | €554,341 | +€528,841 | +2073.9% |
| Environmental obligations | 163 | €25,500 | €25,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | - | €528,841 | +€528,841 | |
| Amounts payable | 17/49 | €3,572,718 | €2,648,373 | -€924,345 | -25.9% |
| Amounts payable after more than one year | 17 | €976,494 | €764,445 | -€212,049 | -21.7% |
| Financial debts | 170/4 | €976,494 | €764,445 | -€212,049 | -21.7% |
| Amounts payable within one year | 42/48 | €960,171 | €623,282 | -€336,888 | -35.1% |
| Current portion of amounts payable after more than one year | 42 | €178,983 | €189,803 | +€10,819 | +6.0% |
| Trade debts | 44 | €190,454 | €99,595 | -€90,859 | -47.7% |
| Suppliers | 440/4 | €190,454 | €99,595 | -€90,859 | -47.7% |
| Taxes, remuneration and social security | 45 | €579,062 | €311,135 | -€267,927 | -46.3% |
| Taxes | 450/3 | €29,520 | €25,294 | -€4,226 | -14.3% |
| Remuneration and social security | 454/9 | €549,542 | €285,841 | -€263,701 | -48.0% |
| Other amounts payable | 47/48 | €11,672 | €22,750 | +€11,078 | +94.9% |
| Accrued charges and deferred income | 492/3 | €1,636,053 | €1,260,646 | -€375,407 | -22.9% |
| Turnover | 70 | €4,044,866 | €2,742,009 | -€1.3m | -32.2% |
| Non-recurring operating income | 76A | €36,427 | €1,529,047 | +€1.5m | +4097.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,116,004 | €773,683 | -€342,321 | -30.7% |
| Remuneration, social security and pensions | 62 | €4,321,366 | €2,700,901 | -€1.6m | -37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,857 | €105,982 | -€13,875 | -11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €29,500 | €17,047 | -€12,453 | -42.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €128,841 | +€128,841 | |
| Other operating charges | 640/8 | €40,623 | €38,267 | -€2,356 | -5.8% |
| Non-recurring operating charges | 66A | €11,128 | €400,000 | +€388,872 | +3494.4% |
| Gross operating margin | 9900 | €3,956,109 | €4,577,175 | +€621,066 | +15.7% |
| Operating profit (loss) | 9901 | -€566,364 | €1,186,137 | +€1.8m | |
| Financial income | 75/76B | €18,423 | €32,547 | +€14,124 | +76.7% |
| Recurring financial income | 75 | €18,423 | €32,547 | +€14,124 | +76.7% |
| Financial charges | 65/66B | €35,689 | €72,037 | +€36,349 | +101.8% |
| Recurring financial charges | 65 | €35,689 | €67,769 | +€32,080 | +89.9% |
| Non-recurring financial charges | 66B | - | €4,269 | +€4,269 | |
| Profit (loss) for the period before taxes | 9903 | -€583,630 | €1,146,647 | +€1.7m | |
| Income taxes | 67/77 | - | €294 | +€294 | |
| Profit (loss) for the period | 9904 | -€583,630 | €1,146,353 | +€1.7m | |
| Profit (loss) for the period to be appropriated | 9905 | -€583,630 | €1,146,353 | +€1.7m |
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.