RECOVR: 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.
RECOVR
Largest movements
- Cash +€3,872
up €3,872 (+12.7%), from €30,570 to €34,442
mainly Net result for the year (+€15,936) and Receivables within one year (+€901)
- Tangible fixed assets +€985
up €985 (+68.0%), from €1,449 to €2,434
- Receivables within one year -€901
down €901 (-8.9%), from €10,146 to €9,245
- Deferred charges and accrued income +€797
new in 2025: €797
- Reserves +€15,936
up €15,936 (+79.9%), from €19,950 to €35,886
- Other debts -€9,572
down €9,572 (-82.2%), from €11,650 to €2,078
- Tax, wage and social debts -€1,621
down €1,621 (-17.0%), from €9,565 to €7,944
- Gross operating margin -€8,861
down €8,861 (-25.5%), from €34,735 to €25,874
- Depreciation -€3,575
down €3,575 (-84.9%), from €4,209 to €634
- Taxes -€1,630
down €1,630 (-18.8%), from €8,665 to €7,035
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 | €42,165 | €46,918 | +€4,753 | +11.3% |
| Fixed assets | 21/28 | €1,449 | €2,434 | +€985 | +68.0% |
| Tangible fixed assets | 22/27 | €1,449 | €2,434 | +€985 | +68.0% |
| Furniture and vehicles | 24 | €1,449 | €2,434 | +€985 | +68.0% |
| Current assets | 29/58 | €40,716 | €44,483 | +€3,768 | +9.3% |
| Amounts receivable within one year | 40/41 | €10,146 | €9,245 | -€901 | -8.9% |
| Trade receivables | 40 | €10,146 | €9,245 | -€901 | -8.9% |
| Cash at bank and in hand | 54/58 | €30,570 | €34,442 | +€3,872 | +12.7% |
| Deferred charges and accrued income | 490/1 | - | €797 | +€797 | |
| Total equity and liabilities | 10/49 | €42,165 | €46,918 | +€4,753 | +11.3% |
| Equity | 10/15 | €20,950 | €36,886 | +€15,936 | +76.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €19,950 | €35,886 | +€15,936 | +79.9% |
| Distributable reserves | 133 | €19,950 | €35,886 | +€15,936 | +79.9% |
| Amounts payable | 17/49 | €21,215 | €10,032 | -€11,183 | -52.7% |
| Amounts payable within one year | 42/48 | €21,215 | €10,032 | -€11,183 | -52.7% |
| Trade debts | 44 | - | €10 | +€10 | |
| Suppliers | 440/4 | - | €10 | +€10 | |
| Taxes, remuneration and social security | 45 | €9,565 | €7,944 | -€1,621 | -17.0% |
| Taxes | 450/3 | €9,565 | €7,944 | -€1,621 | -17.0% |
| Other amounts payable | 47/48 | €11,650 | €2,078 | -€9,572 | -82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,209 | €634 | -€3,575 | -84.9% |
| Other operating charges | 640/8 | €604 | €752 | +€147 | +24.4% |
| Gross operating margin | 9900 | €34,735 | €25,874 | -€8,861 | -25.5% |
| Operating profit (loss) | 9901 | €29,921 | €24,488 | -€5,433 | -18.2% |
| Financial charges | 65/66B | €1,307 | €1,517 | +€210 | +16.1% |
| Recurring financial charges | 65 | €1,307 | €1,517 | +€210 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €28,615 | €22,972 | -€5,643 | -19.7% |
| Income taxes | 67/77 | €8,665 | €7,035 | -€1,630 | -18.8% |
| Profit (loss) for the period | 9904 | €19,950 | €15,936 | -€4,013 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,950 | €15,936 | -€4,013 | -20.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.