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 -€189,520
down €189,520 (-24.2%), from €783,978 to €594,458
of which Other amounts receivable: -€150,730
- Financial fixed assets +€55,000
up €55,000 (+65.6%), from €83,846 to €138,846
- Profit (loss) carried forward -€192,743
down €192,743 (-58.5%), from -€329,217 to -€521,960
- Revaluation surpluses +€55,000
up €55,000 (+32.6%), from €168,611 to €223,611
- Financial income -€33,567
down €33,567 (-57.5%), from €58,386 to €24,819
- Gross operating margin +€7,540
up €7,540 (+43.7%), from €17,272 to €24,812
- Depreciation -€1,180
down €1,180 (-9.0%), from €13,130 to €11,950
- Staff costs -€923
down €923 (-4.8%), from €19,103 to €18,180
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,377,821 | €1,234,153 | -€143,668 | -10.4% |
| Fixed assets | 21/28 | €548,049 | €606,583 | +€58,534 | +10.7% |
| Tangible fixed assets | 22/27 | €464,203 | €467,737 | +€3,534 | +0.8% |
| Land and buildings | 22 | €463,673 | €467,452 | +€3,778 | +0.8% |
| Plant, machinery and equipment | 23 | €203 | €116 | -€88 | -43.2% |
| Furniture and vehicles | 24 | €327 | €170 | -€157 | -48.0% |
| Financial fixed assets | 28 | €83,846 | €138,846 | +€55,000 | +65.6% |
| Current assets | 29/58 | €829,771 | €627,570 | -€202,202 | -24.4% |
| Amounts receivable within one year | 40/41 | €783,978 | €594,458 | -€189,520 | -24.2% |
| Trade receivables | 40 | €59,770 | €20,980 | -€38,790 | -64.9% |
| Other amounts receivable | 41 | €724,208 | €573,478 | -€150,730 | -20.8% |
| Cash at bank and in hand | 54/58 | €45,793 | €33,111 | -€12,682 | -27.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,377,821 | €1,234,153 | -€143,668 | -10.4% |
| Equity | 10/15 | €583,201 | €445,459 | -€137,743 | -23.6% |
| Contributions | 10/11 | €728,807 | €728,807 | = | 0.0% |
| Capital | 10 | €728,807 | €728,807 | = | 0.0% |
| Issued capital | 100 | €728,807 | €728,807 | = | 0.0% |
| Revaluation surpluses | 12 | €168,611 | €223,611 | +€55,000 | +32.6% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€329,217 | -€521,960 | -€192,743 | -58.5% |
| Amounts payable | 17/49 | €794,620 | €788,694 | -€5,925 | -0.7% |
| Amounts payable within one year | 42/48 | €793,659 | €788,694 | -€4,965 | -0.6% |
| Trade debts | 44 | €4,428 | €9,021 | +€4,592 | +104% |
| Suppliers | 440/4 | €4,428 | €9,021 | +€4,592 | +104% |
| Taxes, remuneration and social security | 45 | €4,225 | €6,063 | +€1,837 | +43.5% |
| Taxes | 450/3 | €0 | €3,069 | +€3,069 | |
| Remuneration and social security | 454/9 | €4,225 | €2,993 | -€1,232 | -29.2% |
| Other amounts payable | 47/48 | €785,006 | €773,611 | -€11,395 | -1.5% |
| Accrued charges and deferred income | 492/3 | €960 | €0 | -€960 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €19,103 | €18,180 | -€923 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,130 | €11,950 | -€1,180 | -9.0% |
| Other operating charges | 640/8 | €4,074 | €3,955 | -€120 | -2.9% |
| Non-recurring operating charges | 66A | - | €208,000 | +€208,000 | |
| Gross operating margin | 9900 | €17,272 | €24,812 | +€7,540 | +43.7% |
| Operating profit (loss) | 9901 | -€19,036 | -€217,273 | -€198,237 | -1,041% |
| Financial income | 75/76B | €58,386 | €24,819 | -€33,567 | -57.5% |
| Recurring financial income | 75 | €58,386 | €24,819 | -€33,567 | -57.5% |
| Financial charges | 65/66B | €423 | €289 | -€134 | -31.7% |
| Recurring financial charges | 65 | €423 | €289 | -€134 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €38,928 | -€192,743 | -€231,670 | |
| Profit (loss) for the period | 9904 | €38,928 | -€192,743 | -€231,670 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,928 | -€192,743 | -€231,670 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.