RECOMAT: 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.
RECOMAT
Largest movements
- Receivables within one year +€2.0m
up €2.0m (+63.1%), from €3.2m to €5.2m
of which Trade receivables: +€2.1m
- Cash -€384,679
down €384,679 (-25.5%), from €1.5m to €1.1m
mainly Receivables within one year (-€2.0m) and Investment in fixed assets (net) (-€2.0m)
- Current investments +€293,266
up €293,266 (+47.2%), from €621,181 to €914,448
- Reserves +€2.4m
up €2.4m (+82.8%), from €2.9m to €5.3m
of which Distributable reserves: +€2.4m
- Debts after one year -€1.5m
down €1.5m (-18.0%), from €8.3m to €6.8m
- Tax, wage and social debts +€928,114
up €928,114 (+391.6%), from €237,002 to €1.2m
of which Taxes: +€909,283
- Current portion of long-term debt +€535,457
up €535,457 (+29.0%), from €1.8m to €2.4m
- Trade debts -€222,451
down €222,451 (-74.0%), from €300,806 to €78,355
- Gross operating margin +€2.2m
up €2.2m (+59.6%), from €3.6m to €5.8m
- Taxes +€909,802
up €909,802 (+427.5%), from €212,843 to €1.1m
- Write-downs -€503,700
no longer reported in 2025 (was €503,700)
- Staff costs +€117,310
up €117,310 (+52.0%), from €225,585 to €342,894
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,584,765 | €18,653,670 | +€2.1m | +12.5% |
| Fixed assets | 21/28 | €11,223,106 | €11,364,608 | +€141,502 | +1.3% |
| Tangible fixed assets | 22/27 | €11,223,106 | €11,364,608 | +€141,502 | +1.3% |
| Land and buildings | 22 | €2,141,477 | €1,939,810 | -€201,666 | -9.4% |
| Plant, machinery and equipment | 23 | €5,954,648 | €6,661,093 | +€706,445 | +11.9% |
| Furniture and vehicles | 24 | €22,848 | €15,146 | -€7,702 | -33.7% |
| Leasing and similar rights | 25 | €3,104,133 | €2,748,558 | -€355,575 | -11.5% |
| Current assets | 29/58 | €5,361,660 | €7,289,062 | +€1.9m | +35.9% |
| Stocks and contracts in progress | 3 | €15,404 | €7,036 | -€8,368 | -54.3% |
| Stocks | 30/36 | €15,404 | €7,036 | -€8,368 | -54.3% |
| Amounts receivable within one year | 40/41 | €3,214,804 | €5,241,987 | +€2.0m | +63.1% |
| Trade receivables | 40 | €2,882,718 | €5,018,822 | +€2.1m | +74.1% |
| Other amounts receivable | 41 | €332,086 | €223,165 | -€108,921 | -32.8% |
| Current investments | 50/53 | €621,181 | €914,448 | +€293,266 | +47.2% |
| Cash at bank and in hand | 54/58 | €1,510,271 | €1,125,592 | -€384,679 | -25.5% |
| Total equity and liabilities | 10/49 | €16,584,765 | €18,653,670 | +€2.1m | +12.5% |
| Equity | 10/15 | €5,860,792 | €8,185,168 | +€2.3m | +39.7% |
| Contributions | 10/11 | €274,141 | €274,141 | = | 0.0% |
| Reserves | 13 | €2,887,300 | €5,277,300 | +€2.4m | +82.8% |
| Non-distributable reserves | 130/1 | €19,800 | €19,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,800 | €19,800 | = | 0.0% |
| Distributable reserves | 133 | €2,867,500 | €5,257,500 | +€2.4m | +83.3% |
| Profit (loss) carried forward | 14 | €2,210,532 | €2,215,595 | +€5,063 | +0.2% |
| Investment grants | 15 | €488,819 | €418,133 | -€70,686 | -14.5% |
| Amounts payable | 17/49 | €10,723,973 | €10,468,502 | -€255,472 | -2.4% |
| Amounts payable after more than one year | 17 | €8,337,978 | €6,840,460 | -€1.5m | -18.0% |
| Financial debts | 170/4 | €8,337,978 | €6,840,460 | -€1.5m | -18.0% |
| Amounts payable within one year | 42/48 | €2,385,995 | €3,628,041 | +€1.2m | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €1,844,844 | €2,380,301 | +€535,457 | +29.0% |
| Trade debts | 44 | €300,806 | €78,355 | -€222,451 | -74.0% |
| Suppliers | 440/4 | €300,806 | €78,355 | -€222,451 | -74.0% |
| Taxes, remuneration and social security | 45 | €237,002 | €1,165,116 | +€928,114 | +391.6% |
| Taxes | 450/3 | €212,611 | €1,121,895 | +€909,283 | +427.7% |
| Remuneration and social security | 454/9 | €24,391 | €43,222 | +€18,831 | +77.2% |
| Other amounts payable | 47/48 | €3,343 | €4,269 | +€926 | +27.7% |
| Remuneration, social security and pensions | 62 | €225,585 | €342,894 | +€117,310 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,852,774 | €1,819,368 | -€33,405 | -1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €503,700 | - | -€503,700 | |
| Other operating charges | 640/8 | €13,552 | €15,987 | +€2,435 | +18.0% |
| Gross operating margin | 9900 | €3,629,912 | €5,794,913 | +€2.2m | +59.6% |
| Operating profit (loss) | 9901 | €1,034,302 | €3,616,664 | +€2.6m | +249.7% |
| Financial income | 75/76B | €88,732 | €81,743 | -€6,990 | -7.9% |
| Recurring financial income | 75 | €88,732 | €81,743 | -€6,990 | -7.9% |
| Financial charges | 65/66B | €165,347 | €180,699 | +€15,352 | +9.3% |
| Recurring financial charges | 65 | €165,347 | €180,699 | +€15,352 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €957,688 | €3,517,708 | +€2.6m | +267.3% |
| Income taxes | 67/77 | €212,843 | €1,122,645 | +€909,802 | +427.5% |
| Profit (loss) for the period | 9904 | €744,845 | €2,395,063 | +€1.7m | +221.6% |
| Profit (loss) for the period to be appropriated | 9905 | €744,845 | €2,395,063 | +€1.7m | +221.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.