RECOVERY: 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.
RECOVERY
Largest movements
- Tangible fixed assets +€2,637
up €2,637 (+53.7%), from €4,906 to €7,543
of which Furniture and vehicles: +€3,228
- Profit (loss) carried forward +€112,939
up €112,939 (+23.6%), from -€478,289 to -€365,351
- Other debts -€71,552
down €71,552 (-36.7%), from €195,224 to €123,672
- Debts after one year -€46,000
down €46,000 (-18.4%), from €250,000 to €204,000
- Tax, wage and social debts +€7,384
up €7,384 (+24.9%), from €29,603 to €36,987
of which Taxes: +€7,659
- Trade debts -€287
down €287 (-100%), from €287 to €0
- Gross operating margin +€53,423
up €53,423 (+52.5%), from €101,847 to €155,270
- Taxes +€18,488
up €18,488 (+87.9%), from €21,037 to €39,525
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 | €15,424 | €17,908 | +€2,484 | +16.1% |
| Fixed assets | 21/28 | €4,906 | €7,543 | +€2,637 | +53.7% |
| Tangible fixed assets | 22/27 | €4,906 | €7,543 | +€2,637 | +53.7% |
| Furniture and vehicles | 24 | €1,967 | €5,195 | +€3,228 | +164% |
| Other tangible fixed assets | 26 | €2,939 | €2,348 | -€591 | -20.1% |
| Current assets | 29/58 | €10,518 | €10,365 | -€153 | -1.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €10,518 | €10,365 | -€153 | -1.5% |
| Total equity and liabilities | 10/49 | €15,424 | €17,908 | +€2,484 | +16.1% |
| Equity | 10/15 | -€459,689 | -€346,751 | +€112,939 | +24.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€478,289 | -€365,351 | +€112,939 | +23.6% |
| Amounts payable | 17/49 | €475,113 | €364,658 | -€110,455 | -23.2% |
| Amounts payable after more than one year | 17 | €250,000 | €204,000 | -€46,000 | -18.4% |
| Financial debts | 170/4 | €250,000 | €204,000 | -€46,000 | -18.4% |
| Amounts payable within one year | 42/48 | €225,113 | €160,658 | -€64,455 | -28.6% |
| Trade debts | 44 | €287 | €0 | -€287 | -100% |
| Suppliers | 440/4 | €287 | €0 | -€287 | -100% |
| Taxes, remuneration and social security | 45 | €29,603 | €36,987 | +€7,384 | +24.9% |
| Taxes | 450/3 | €25,103 | €32,762 | +€7,659 | +30.5% |
| Remuneration and social security | 454/9 | €4,500 | €4,225 | -€275 | -6.1% |
| Other amounts payable | 47/48 | €195,224 | €123,672 | -€71,552 | -36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €630 | €1,950 | +€1,321 | +210% |
| Other operating charges | 640/8 | €650 | €585 | -€65 | -10.0% |
| Gross operating margin | 9900 | €101,847 | €155,270 | +€53,423 | +52.5% |
| Operating profit (loss) | 9901 | €100,567 | €152,734 | +€52,167 | +51.9% |
| Financial charges | 65/66B | €187 | €270 | +€83 | +44.6% |
| Recurring financial charges | 65 | €187 | €270 | +€83 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €100,380 | €152,464 | +€52,084 | +51.9% |
| Income taxes | 67/77 | €21,037 | €39,525 | +€18,488 | +87.9% |
| Profit (loss) for the period | 9904 | €79,343 | €112,939 | +€33,595 | +42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,343 | €112,939 | +€33,595 | +42.3% |
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 16 October 2026 via checked.be.