Recotherm: 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.
Recotherm
Largest movements
- Tangible fixed assets +€32,970
up €32,970 (+148%), from €22,306 to €55,277
of which Furniture and vehicles: +€34,337
- Receivables within one year +€31,183
up €31,183 (+87.7%), from €35,576 to €66,759
of which Trade receivables: +€34,990
- Cash -€22,419
down €22,419 (-35.7%), from €62,845 to €40,426
mainly Investment in fixed assets (net) (-€48,906) and Receivables within one year (-€31,183)
- Debts after one year +€30,684
new in 2025: €30,684
- Reserves +€6,186
up €6,186 (+6.6%), from €93,854 to €100,040
- Tax, wage and social debts +€3,227
up €3,227 (+218%), from €1,477 to €4,705
- Current portion of long-term debt +€2,531
up €2,531 (+45.1%), from €5,612 to €8,143
- Trade debts -€2,170
down €2,170 (-16.9%), from €12,837 to €10,666
- Gross operating margin -€44,413
down €44,413 (-59.0%), from €75,217 to €30,804
- Taxes -€14,708
down €14,708 (-75.4%), from €19,494 to €4,787
- Other operating charges -€863
down €863 (-45.4%), from €1,901 to €1,038
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 | €124,579 | €165,071 | +€40,491 | +32.5% |
| Fixed assets | 21/28 | €22,306 | €55,277 | +€32,970 | +148% |
| Tangible fixed assets | 22/27 | €22,306 | €55,277 | +€32,970 | +148% |
| Plant, machinery and equipment | 23 | €4,033 | €2,666 | -€1,367 | -33.9% |
| Furniture and vehicles | 24 | €18,274 | €52,611 | +€34,337 | +188% |
| Current assets | 29/58 | €102,273 | €109,794 | +€7,521 | +7.4% |
| Stocks and contracts in progress | 3 | €3,468 | €2,168 | -€1,300 | -37.5% |
| Stocks | 30/36 | €3,468 | €2,168 | -€1,300 | -37.5% |
| Amounts receivable within one year | 40/41 | €35,576 | €66,759 | +€31,183 | +87.7% |
| Trade receivables | 40 | €19,926 | €54,916 | +€34,990 | +176% |
| Other amounts receivable | 41 | €15,650 | €11,843 | -€3,807 | -24.3% |
| Cash at bank and in hand | 54/58 | €62,845 | €40,426 | -€22,419 | -35.7% |
| Deferred charges and accrued income | 490/1 | €384 | €441 | +€57 | +14.9% |
| Total equity and liabilities | 10/49 | €124,579 | €165,071 | +€40,491 | +32.5% |
| Equity | 10/15 | €103,854 | €110,040 | +€6,186 | +6.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €93,854 | €100,040 | +€6,186 | +6.6% |
| Distributable reserves | 133 | €93,854 | €100,040 | +€6,186 | +6.6% |
| Amounts payable | 17/49 | €20,726 | €55,031 | +€34,305 | +166% |
| Amounts payable after more than one year | 17 | - | €30,684 | +€30,684 | |
| Financial debts | 170/4 | - | €30,684 | +€30,684 | |
| Amounts payable within one year | 42/48 | €20,726 | €24,347 | +€3,621 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €5,612 | €8,143 | +€2,531 | +45.1% |
| Trade debts | 44 | €12,837 | €10,666 | -€2,170 | -16.9% |
| Suppliers | 440/4 | €12,837 | €10,666 | -€2,170 | -16.9% |
| Taxes, remuneration and social security | 45 | €1,477 | €4,705 | +€3,227 | +218% |
| Taxes | 450/3 | €1,477 | €4,705 | +€3,227 | +218% |
| Other amounts payable | 47/48 | €800 | €833 | +€33 | +4.1% |
| Non-recurring operating income | 76A | €3,384 | - | -€3,384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,538 | €15,936 | +€398 | +2.6% |
| Other operating charges | 640/8 | €1,901 | €1,038 | -€863 | -45.4% |
| Non-recurring operating charges | 66A | €63 | €1,758 | +€1,695 | +2,686% |
| Gross operating margin | 9900 | €75,217 | €30,804 | -€44,413 | -59.0% |
| Operating profit (loss) | 9901 | €57,715 | €12,072 | -€45,643 | -79.1% |
| Financial income | 75/76B | €442 | €726 | +€284 | +64.2% |
| Recurring financial income | 75 | €442 | €726 | +€284 | +64.2% |
| Financial charges | 65/66B | €274 | €991 | +€717 | +262% |
| Recurring financial charges | 65 | €274 | €991 | +€717 | +262% |
| Profit (loss) for the period before taxes | 9903 | €57,883 | €11,806 | -€46,076 | -79.6% |
| Income taxes | 67/77 | €19,494 | €4,787 | -€14,708 | -75.4% |
| Profit (loss) for the period | 9904 | €38,388 | €7,019 | -€31,369 | -81.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,388 | €7,019 | -€31,369 | -81.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.