RECOsol: 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.
RECOsol
Largest movements
- Tangible fixed assets -€44,812
down €44,812 (-34.1%), from €131,365 to €86,553
of which Furniture and vehicles: -€33,190
- Receivables within one year +€40,564
up €40,564 (+15.4%), from €264,177 to €304,741
of which Trade receivables: +€42,574
- Cash +€17,813
up €17,813 (+28.4%), from €62,749 to €80,562
mainly Trade debts (+€63,098) and Depreciation (+€42,174)
- Trade debts +€63,098
up €63,098 (+41.4%), from €152,306 to €215,404
- Tax, wage and social debts -€47,832
down €47,832 (-40.6%), from €117,780 to €69,948
of which Taxes: -€43,915
- Other debts +€18,237
up €18,237 (+41.8%), from €43,649 to €61,886
- Profit (loss) carried forward -€12,477
down €12,477 (-15.3%), from €81,388 to €68,911
- Debts after one year -€5,176
no longer reported in 2025 (was €5,176)
- Staff costs +€7,854
up €7,854 (+3.7%), from €211,216 to €219,070
- Gross operating margin -€6,312
down €6,312 (-2.3%), from €273,341 to €267,029
- Taxes -€5,740
down €5,740 (-89.7%), from €6,398 to €658
- Other operating charges +€4,877
up €4,877 (+72.6%), from €6,714 to €11,590
- Depreciation -€2,927
down €2,927 (-6.5%), from €45,101 to €42,174
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 | €470,764 | €486,751 | +€15,987 | +3.4% |
| Fixed assets | 21/28 | €131,365 | €86,553 | -€44,812 | -34.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €131,365 | €86,553 | -€44,812 | -34.1% |
| Plant, machinery and equipment | 23 | €33,956 | €21,315 | -€12,641 | -37.2% |
| Furniture and vehicles | 24 | €94,859 | €61,668 | -€33,190 | -35.0% |
| Other tangible fixed assets | 26 | €2,551 | €3,569 | +€1,019 | +39.9% |
| Current assets | 29/58 | €339,398 | €400,198 | +€60,800 | +17.9% |
| Amounts receivable within one year | 40/41 | €264,177 | €304,741 | +€40,564 | +15.4% |
| Trade receivables | 40 | €255,003 | €297,577 | +€42,574 | +16.7% |
| Other amounts receivable | 41 | €9,174 | €7,164 | -€2,010 | -21.9% |
| Cash at bank and in hand | 54/58 | €62,749 | €80,562 | +€17,813 | +28.4% |
| Deferred charges and accrued income | 490/1 | €12,473 | €14,895 | +€2,422 | +19.4% |
| Total equity and liabilities | 10/49 | €470,764 | €486,751 | +€15,987 | +3.4% |
| Equity | 10/15 | €146,766 | €134,289 | -€12,477 | -8.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €59,178 | €59,178 | = | 0.0% |
| Distributable reserves | 133 | €59,178 | €59,178 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,388 | €68,911 | -€12,477 | -15.3% |
| Amounts payable | 17/49 | €323,998 | €352,462 | +€28,465 | +8.8% |
| Amounts payable after more than one year | 17 | €5,176 | - | -€5,176 | |
| Financial debts | 170/4 | €5,176 | - | -€5,176 | |
| Amounts payable within one year | 42/48 | €318,822 | €352,450 | +€33,628 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €5,087 | €5,176 | +€89 | +1.8% |
| Financial debts | 43 | - | €36 | +€36 | |
| Credit institutions | 430/8 | - | €36 | +€36 | |
| Trade debts | 44 | €152,306 | €215,404 | +€63,098 | +41.4% |
| Suppliers | 440/4 | €152,306 | €215,404 | +€63,098 | +41.4% |
| Taxes, remuneration and social security | 45 | €117,780 | €69,948 | -€47,832 | -40.6% |
| Taxes | 450/3 | €78,806 | €34,891 | -€43,915 | -55.7% |
| Remuneration and social security | 454/9 | €38,973 | €35,056 | -€3,917 | -10.1% |
| Other amounts payable | 47/48 | €43,649 | €61,886 | +€18,237 | +41.8% |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Remuneration, social security and pensions | 62 | €211,216 | €219,070 | +€7,854 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,101 | €42,174 | -€2,927 | -6.5% |
| Other operating charges | 640/8 | €6,714 | €11,590 | +€4,877 | +72.6% |
| Non-recurring operating charges | 66A | €570 | €3,847 | +€3,277 | +575% |
| Gross operating margin | 9900 | €273,341 | €267,029 | -€6,312 | -2.3% |
| Operating profit (loss) | 9901 | €9,740 | -€9,653 | -€19,393 | |
| Financial income | 75/76B | €37 | €241 | +€204 | +543% |
| Recurring financial income | 75 | €37 | €241 | +€204 | +543% |
| Financial charges | 65/66B | €2,061 | €2,407 | +€346 | +16.8% |
| Recurring financial charges | 65 | €2,061 | €2,407 | +€346 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €7,716 | -€11,819 | -€19,536 | |
| Income taxes | 67/77 | €6,398 | €658 | -€5,740 | -89.7% |
| Profit (loss) for the period | 9904 | €1,318 | -€12,477 | -€13,795 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,318 | -€12,477 | -€13,795 |
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 15 October 2026 via checked.be.