RECOFIX: 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.
RECOFIX
Largest movements
- Receivables within one year +€175,427
up €175,427 (+146%), from €120,078 to €295,504
of which Other amounts receivable: +€205,262
- Cash -€72,567
down €72,567 (-86.0%), from €84,343 to €11,776
- Tangible fixed assets -€8,151
down €8,151 (-100%), from €8,151 to €0
of which Furniture and vehicles: -€8,151
- Other debts +€188,234
up €188,234 (+63.8%), from €294,893 to €483,126
- Debts after one year -€73,315
down €73,315 (-100%), from €73,315 to €0
- Current portion of long-term debt -€36,354
down €36,354 (-100%), from €36,354 to €0
- Trade debts +€29,742
up €29,742 (+711%), from €4,184 to €33,926
- Reserves -€16,000
down €16,000 (-11.5%), from €138,889 to €122,889
- Gross operating margin -€108,314
down €108,314 (-93.8%), from €115,451 to €7,137
- Taxes -€17,835
down €17,835 (-90.7%), from €19,674 to €1,839
- Depreciation -€10,939
down €10,939 (-100%), from €10,939 to €0
- Other operating charges -€1,364
down €1,364 (-51.3%), from €2,659 to €1,295
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €690,516 | €782,825 | +€92,308 | +13.4% |
| Fixed assets | 21/28 | €483,151 | €475,000 | -€8,151 | -1.7% |
| Tangible fixed assets | 22/27 | €8,151 | €0 | -€8,151 | -100% |
| Furniture and vehicles | 24 | €8,151 | €0 | -€8,151 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €475,000 | €475,000 | = | 0.0% |
| Current assets | 29/58 | €207,365 | €307,825 | +€100,460 | +48.4% |
| Amounts receivable within one year | 40/41 | €120,078 | €295,504 | +€175,427 | +146% |
| Trade receivables | 40 | €29,835 | €0 | -€29,835 | -100% |
| Other amounts receivable | 41 | €90,243 | €295,504 | +€205,262 | +227% |
| Cash at bank and in hand | 54/58 | €84,343 | €11,776 | -€72,567 | -86.0% |
| Deferred charges and accrued income | 490/1 | €2,945 | €544 | -€2,400 | -81.5% |
| Total equity and liabilities | 10/49 | €690,516 | €782,825 | +€92,308 | +13.4% |
| Equity | 10/15 | €223,929 | €211,010 | -€12,919 | -5.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €138,889 | €122,889 | -€16,000 | -11.5% |
| Distributable reserves | 133 | €138,889 | €122,889 | -€16,000 | -11.5% |
| Profit (loss) carried forward | 14 | €78,840 | €81,921 | +€3,081 | +3.9% |
| Provisions and deferred taxes | 16 | €46,000 | €46,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €46,000 | €46,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €46,000 | €46,000 | = | 0.0% |
| Amounts payable | 17/49 | €420,587 | €525,815 | +€105,228 | +25.0% |
| Amounts payable after more than one year | 17 | €73,315 | €0 | -€73,315 | -100% |
| Financial debts | 170/4 | €73,315 | €0 | -€73,315 | -100% |
| Amounts payable within one year | 42/48 | €347,272 | €525,815 | +€178,543 | +51.4% |
| Current portion of amounts payable after more than one year | 42 | €36,354 | €0 | -€36,354 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,184 | €33,926 | +€29,742 | +711% |
| Suppliers | 440/4 | €4,184 | €33,926 | +€29,742 | +711% |
| Taxes, remuneration and social security | 45 | €11,842 | €8,763 | -€3,079 | -26.0% |
| Taxes | 450/3 | €9,117 | €8,763 | -€354 | -3.9% |
| Remuneration and social security | 454/9 | €2,725 | €0 | -€2,725 | -100% |
| Other amounts payable | 47/48 | €294,893 | €483,126 | +€188,234 | +63.8% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,939 | €0 | -€10,939 | -100% |
| Other operating charges | 640/8 | €2,659 | €1,295 | -€1,364 | -51.3% |
| Non-recurring operating charges | 66A | €3,985 | €0 | -€3,985 | -100% |
| Gross operating margin | 9900 | €115,451 | €7,137 | -€108,314 | -93.8% |
| Operating profit (loss) | 9901 | €97,869 | €5,842 | -€92,027 | -94.0% |
| Financial income | 75/76B | €697 | €716 | +€19 | +2.7% |
| Recurring financial income | 75 | €697 | €716 | +€19 | +2.7% |
| Financial charges | 65/66B | €2,126 | €1,637 | -€489 | -23.0% |
| Recurring financial charges | 65 | €2,126 | €1,637 | -€489 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €96,439 | €4,920 | -€91,519 | -94.9% |
| Income taxes | 67/77 | €19,674 | €1,839 | -€17,835 | -90.7% |
| Profit (loss) for the period | 9904 | €76,765 | €3,081 | -€73,684 | -96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,765 | €3,081 | -€73,684 | -96.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.