RECOFI: 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.
RECOFI
Largest movements
- Tangible fixed assets -€20,404
down €20,404 (-7.9%), from €257,787 to €237,384
of which Furniture and vehicles: -€15,002
- Cash +€14,568
up €14,568 (+29.5%), from €49,332 to €63,900
mainly Net result for the year (+€65,675) and Other debts (+€63,818)
- Profit (loss) carried forward -€64,325
down €64,325 (-49.3%), from €130,469 to €66,144
- Other debts +€63,818
up €63,818 (+119%), from €53,518 to €117,336
- Debts after one year -€5,377
down €5,377 (-6.1%), from €87,948 to €82,571
- Gross operating margin +€9,362
up €9,362 (+9.4%), from €99,739 to €109,102
- Depreciation +€2,259
up €2,259 (+12.4%), from €18,145 to €20,404
- Taxes +€1,950
up €1,950 (+12.7%), from €15,299 to €17,249
- Other operating charges -€1,631
down €1,631 (-49.2%), from €3,313 to €1,682
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 | €311,215 | €305,268 | -€5,947 | -1.9% |
| Fixed assets | 21/28 | €257,787 | €237,384 | -€20,404 | -7.9% |
| Tangible fixed assets | 22/27 | €257,787 | €237,384 | -€20,404 | -7.9% |
| Land and buildings | 22 | €198,473 | €193,451 | -€5,022 | -2.5% |
| Plant, machinery and equipment | 23 | €1,016 | €637 | -€379 | -37.3% |
| Furniture and vehicles | 24 | €58,299 | €43,296 | -€15,002 | -25.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €53,428 | €67,884 | +€14,457 | +27.1% |
| Amounts receivable after more than one year | 29 | €268 | €268 | = | 0.0% |
| Other amounts receivable | 291 | €268 | €268 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €485 | €300 | -€185 | -38.2% |
| Other amounts receivable | 41 | €485 | €300 | -€185 | -38.2% |
| Cash at bank and in hand | 54/58 | €49,332 | €63,900 | +€14,568 | +29.5% |
| Deferred charges and accrued income | 490/1 | €3,343 | €3,417 | +€74 | +2.2% |
| Total equity and liabilities | 10/49 | €311,215 | €305,268 | -€5,947 | -1.9% |
| Equity | 10/15 | €150,540 | €86,215 | -€64,325 | -42.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,471 | €1,471 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,471 | €1,471 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,471 | €1,471 | = | 0.0% |
| Profit (loss) carried forward | 14 | €130,469 | €66,144 | -€64,325 | -49.3% |
| Amounts payable | 17/49 | €160,675 | €219,053 | +€58,378 | +36.3% |
| Amounts payable after more than one year | 17 | €87,948 | €82,571 | -€5,377 | -6.1% |
| Financial debts | 170/4 | €87,948 | €82,571 | -€5,377 | -6.1% |
| Amounts payable within one year | 42/48 | €72,728 | €136,482 | +€63,755 | +87.7% |
| Current portion of amounts payable after more than one year | 42 | €5,150 | €5,377 | +€227 | +4.4% |
| Trade debts | 44 | €2,183 | €2,691 | +€508 | +23.3% |
| Suppliers | 440/4 | €2,183 | €2,691 | +€508 | +23.3% |
| Taxes, remuneration and social security | 45 | €11,878 | €11,079 | -€799 | -6.7% |
| Taxes | 450/3 | €11,878 | €11,079 | -€799 | -6.7% |
| Other amounts payable | 47/48 | €53,518 | €117,336 | +€63,818 | +119% |
| Non-recurring operating income | 76A | €2,401 | €0 | -€2,401 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,145 | €20,404 | +€2,259 | +12.4% |
| Other operating charges | 640/8 | €3,313 | €1,682 | -€1,631 | -49.2% |
| Gross operating margin | 9900 | €99,739 | €109,102 | +€9,362 | +9.4% |
| Operating profit (loss) | 9901 | €78,282 | €87,016 | +€8,734 | +11.2% |
| Financial charges | 65/66B | €4,305 | €4,092 | -€213 | -4.9% |
| Recurring financial charges | 65 | €4,305 | €4,092 | -€213 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €73,977 | €82,924 | +€8,947 | +12.1% |
| Income taxes | 67/77 | €15,299 | €17,249 | +€1,950 | +12.7% |
| Profit (loss) for the period | 9904 | €58,678 | €65,675 | +€6,997 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,678 | €65,675 | +€6,997 | +11.9% |
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 18 October 2026 via checked.be.