RECOL'TERRE: 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.
RECOL'TERRE
Largest movements
- Cash +€659,338
up €659,338 (+767%), from €86,003 to €745,342
mainly Debts after one year (+€580,195) and Depreciation (+€289,134)
- Receivables within one year +€293,586
up €293,586 (+32.1%), from €914,464 to €1.2m
of which Trade receivables: +€299,481
- Tangible fixed assets -€118,215
down €118,215 (-6.4%), from €1.8m to €1.7m
of which Leasing and similar rights: -€434,545
- Financial fixed assets +€70,986
up €70,986 (+202%), from €35,118 to €106,104
- Debts after one year +€580,195
up €580,195 (+60.0%), from €966,460 to €1.5m
- Current portion of long-term debt -€162,433
down €162,433 (-31.9%), from €508,413 to €345,981
- Contributions +€150,000
up €150,000 (+30.0%), from €500,000 to €650,000
- Tax, wage and social debts +€108,246
up €108,246 (+34.5%), from €314,093 to €422,339
of which Taxes: +€55,448
- Trade debts +€88,337
up €88,337 (+11.6%), from €764,714 to €853,051
- Gross operating margin +€373,693
up €373,693 (+17.6%), from €2.1m to €2.5m
- Depreciation -€142,335
down €142,335 (-33.0%), from €431,469 to €289,134
- Staff costs -€135,594
down €135,594 (-6.8%), from €2.0m to €1.9m
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 | €2,994,615 | €3,891,165 | +€896,550 | +29.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,872,745 | €1,823,466 | -€49,279 | -2.6% |
| Intangible fixed assets | 21 | €4,094 | €2,044 | -€2,050 | -50.1% |
| Tangible fixed assets | 22/27 | €1,833,533 | €1,715,318 | -€118,215 | -6.4% |
| Land and buildings | 22 | €110,639 | €98,615 | -€12,023 | -10.9% |
| Plant, machinery and equipment | 23 | €3,146 | €81,246 | +€78,099 | +2,482% |
| Furniture and vehicles | 24 | €67,149 | €53,717 | -€13,432 | -20.0% |
| Leasing and similar rights | 25 | €1,649,669 | €1,215,125 | -€434,545 | -26.3% |
| Other tangible fixed assets | 26 | €2,930 | €2,186 | -€743 | -25.4% |
| Assets under construction and advance payments | 27 | - | €264,429 | +€264,429 | |
| Financial fixed assets | 28 | €35,118 | €106,104 | +€70,986 | +202% |
| Current assets | 29/58 | €1,121,870 | €2,067,699 | +€945,829 | +84.3% |
| Stocks and contracts in progress | 3 | €54,312 | €62,927 | +€8,615 | +15.9% |
| Stocks | 30/36 | €54,312 | €62,927 | +€8,615 | +15.9% |
| Amounts receivable within one year | 40/41 | €914,464 | €1,208,051 | +€293,586 | +32.1% |
| Trade receivables | 40 | €853,902 | €1,153,383 | +€299,481 | +35.1% |
| Other amounts receivable | 41 | €60,562 | €54,667 | -€5,895 | -9.7% |
| Cash at bank and in hand | 54/58 | €86,003 | €745,342 | +€659,338 | +767% |
| Deferred charges and accrued income | 490/1 | €67,090 | €51,380 | -€15,710 | -23.4% |
| Total equity and liabilities | 10/49 | €2,994,615 | €3,891,165 | +€896,550 | +29.9% |
| Equity | 10/15 | -€146,741 | €13,100 | +€159,841 | |
| Contributions | 10/11 | €500,000 | €650,000 | +€150,000 | +30.0% |
| Reserves | 13 | €172,081 | €172,081 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,163 | €30,163 | = | 0.0% |
| Reserves not available under the articles | 1311 | €30,163 | €30,163 | = | 0.0% |
| Tax-exempt reserves | 132 | €141,917 | €141,917 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€827,465 | -€815,098 | +€12,368 | +1.5% |
| Investment grants | 15 | €8,643 | €6,117 | -€2,526 | -29.2% |
| Amounts payable | 17/49 | €3,141,356 | €3,878,065 | +€736,708 | +23.5% |
| Amounts payable after more than one year | 17 | €966,460 | €1,546,655 | +€580,195 | +60.0% |
| Financial debts | 170/4 | €966,460 | €1,546,655 | +€580,195 | +60.0% |
| Amounts payable within one year | 42/48 | €2,155,350 | €2,326,026 | +€170,676 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €508,413 | €345,981 | -€162,433 | -31.9% |
| Financial debts | 43 | €363,538 | €434,656 | +€71,118 | +19.6% |
| Credit institutions | 430/8 | €363,538 | €434,656 | +€71,118 | +19.6% |
| Trade debts | 44 | €764,714 | €853,051 | +€88,337 | +11.6% |
| Suppliers | 440/4 | €764,714 | €853,051 | +€88,337 | +11.6% |
| Taxes, remuneration and social security | 45 | €314,093 | €422,339 | +€108,246 | +34.5% |
| Taxes | 450/3 | €62,243 | €117,691 | +€55,448 | +89.1% |
| Remuneration and social security | 454/9 | €251,850 | €304,648 | +€52,798 | +21.0% |
| Other amounts payable | 47/48 | €204,592 | €270,000 | +€65,409 | +32.0% |
| Accrued charges and deferred income | 492/3 | €19,546 | €5,383 | -€14,164 | -72.5% |
| Remuneration, social security and pensions | 62 | €1,994,314 | €1,858,720 | -€135,594 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €431,469 | €289,134 | -€142,335 | -33.0% |
| Other operating charges | 640/8 | €252,339 | €263,562 | +€11,223 | +4.4% |
| Gross operating margin | 9900 | €2,123,478 | €2,497,171 | +€373,693 | +17.6% |
| Operating profit (loss) | 9901 | -€554,644 | €85,755 | +€640,399 | |
| Financial income | 75/76B | €3,027 | €3,048 | +€21 | +0.7% |
| Recurring financial income | 75 | €3,027 | €3,048 | +€21 | +0.7% |
| Financial charges | 65/66B | €54,499 | €76,105 | +€21,606 | +39.6% |
| Recurring financial charges | 65 | €54,499 | €76,105 | +€21,606 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | -€606,117 | €12,698 | +€618,815 | |
| Income taxes | 67/77 | €150 | €331 | +€181 | +120% |
| Profit (loss) for the period | 9904 | -€606,267 | €12,368 | +€618,634 | |
| Profit (loss) for the period to be appropriated | 9905 | -€606,267 | €12,368 | +€618,634 |
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 29 October 2026 via checked.be.