RECOVER: 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.
RECOVER
Largest movements
- Receivables within one year -€39,131
down €39,131 (-72.5%), from €53,950 to €14,819
of which Trade receivables: -€22,937
- Receivables after one year +€19,174
new in 2025: €19,174
- Cash +€2,748
up €2,748 (+354%), from €776 to €3,524
mainly Receivables within one year (+€39,131) and Short-term financial debts (+€14,050)
- Other debts -€20,600
down €20,600 (-100%), from €20,600 to €0
- Short-term financial debts +€14,050
up €14,050 (+128%), from €10,950 to €25,000
- Current portion of long-term debt -€10,000
down €10,000 (-100%), from €10,000 to €0
- Tax, wage and social debts -€1,336
down €1,336 (-77.5%), from €1,724 to €389
- Profit (loss) carried forward +€586
up €586 (+316%), from €186 to €771
- Turnover -€12,100
down €12,100 (-68.4%), from €17,700 to €5,600
- Gross operating margin -€2,289
down €2,289 (-40.1%), from €5,713 to €3,424
- Purchases and services +€1,791
up €1,791 (+12.6%), from €14,181 to €15,972
- Other operating charges -€1,502
down €1,502 (-59.9%), from €2,510 to €1,007
- Write-downs +€800
no longer reported in 2025 (was -€800)
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 | €57,746 | €40,436 | -€17,310 | -30.0% |
| Fixed assets | 21/28 | €3,020 | €2,920 | -€100 | -3.3% |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €3,020 | €2,920 | -€100 | -3.3% |
| Current assets | 29/58 | €54,726 | €37,516 | -€17,210 | -31.4% |
| Amounts receivable after more than one year | 29 | - | €19,174 | +€19,174 | |
| Other amounts receivable | 291 | - | €19,174 | +€19,174 | |
| Amounts receivable within one year | 40/41 | €53,950 | €14,819 | -€39,131 | -72.5% |
| Trade receivables | 40 | €26,086 | €3,149 | -€22,937 | -87.9% |
| Other amounts receivable | 41 | €27,864 | €11,670 | -€16,194 | -58.1% |
| Cash at bank and in hand | 54/58 | €776 | €3,524 | +€2,748 | +354% |
| Total equity and liabilities | 10/49 | €57,746 | €40,436 | -€17,310 | -30.0% |
| Equity | 10/15 | €12,386 | €12,971 | +€586 | +4.7% |
| Contributions | 10/11 | €9,360 | €9,360 | = | 0.0% |
| Reserves | 13 | €2,840 | €2,840 | = | 0.0% |
| Distributable reserves | 133 | €2,840 | €2,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | €186 | €771 | +€586 | +316% |
| Amounts payable | 17/49 | €45,361 | €27,465 | -€17,896 | -39.5% |
| Amounts payable within one year | 42/48 | €45,361 | €27,465 | -€17,896 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €0 | -€10,000 | -100% |
| Financial debts | 43 | €10,950 | €25,000 | +€14,050 | +128% |
| Credit institutions | 430/8 | €10,950 | €25,000 | +€14,050 | +128% |
| Trade debts | 44 | €2,086 | €2,076 | -€10 | -0.5% |
| Suppliers | 440/4 | €2,086 | €2,076 | -€10 | -0.5% |
| Taxes, remuneration and social security | 45 | €1,724 | €389 | -€1,336 | -77.5% |
| Taxes | 450/3 | €1,724 | €389 | -€1,336 | -77.5% |
| Other amounts payable | 47/48 | €20,600 | €0 | -€20,600 | -100% |
| Turnover | 70 | €17,700 | €5,600 | -€12,100 | -68.4% |
| Non-recurring operating income | 76A | - | €10,000 | +€10,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €14,181 | €15,972 | +€1,791 | +12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€800 | - | +€800 | |
| Other operating charges | 640/8 | €2,510 | €1,007 | -€1,502 | -59.9% |
| Gross operating margin | 9900 | €5,713 | €3,424 | -€2,289 | -40.1% |
| Operating profit (loss) | 9901 | €4,003 | €2,417 | -€1,586 | -39.6% |
| Financial income | 75/76B | €432 | €398 | -€34 | -7.8% |
| Recurring financial income | 75 | €432 | €398 | -€34 | -7.8% |
| Financial charges | 65/66B | €1,405 | €2,088 | +€683 | +48.6% |
| Recurring financial charges | 65 | €1,405 | €2,088 | +€683 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €3,030 | €727 | -€2,303 | -76.0% |
| Income taxes | 67/77 | €207 | €141 | -€66 | -32.0% |
| Profit (loss) for the period | 9904 | €2,822 | €586 | -€2,236 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,822 | €586 | -€2,236 | -79.2% |
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 13 October 2026 via checked.be.