RECTICEL: what changed
What changed
RECTICEL
NACE 20.590, Manufacture of chemicals and chemical products
filed annual accounts (NBB)
Net result for the year
-€807,927
2024 · -€71.8m+€71.0m
Equity
€655.6m
2024 · €673.0m-€17.3m
Cash
€45,221
2024 · €60,720-€15,499
Balance sheet total
€746.4m
2024 · €765.9m-€19.5m
Largest movements
Assets
- Current investments -€39.0m
down €39.0m (-96.5%), from €40.4m to €1.4m
of which Other investments: -€39.0m
- Financial fixed assets +€35.6m
up €35.6m (+5.8%), from €617.5m to €653.1m
of which Affiliated companies: +€47.2m
- Receivables within one year -€30.5m
down €30.5m (-60.3%), from €50.6m to €20.1m
of which Other amounts receivable: -€15.8m
Equity and liabilities
- Profit (loss) carried forward -€18.4m
down €18.4m (-4.9%), from €375.6m to €357.2m
Income statement
- Financial charges -€107.5m
down €107.5m (-86.0%), from €125.0m to €17.5m
of which Non-recurring financial charges: -€110.0m
- Financial income -€46.2m
down €46.2m (-83.2%), from €55.5m to €9.3m
of which Financial income: -€44.7m
- Turnover +€10.0m
up €10.0m (+8.5%), from €118.3m to €128.3m
- Provisions -€9.1m
down €9.1m, from €3.0m to -€6.1m
- Goods and materials +€5.9m
up €5.9m (+7.2%), from €82.3m to €88.2m
of which Purchases: +€5.1m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€71.8m
Turnover
+€10.0m
Other operating income
-€860,170
Goods and materials
-€5.9m
Services and other goods
-€5.7m
Staff costs
+€1.6m
Depreciation
+€156,484
Write-downs
-€508,266
Provisions
+€9.1m
Other operating charges
+€50,947
Other operating items
+€1.1m
Financial income
-€46.2m
Financial charges
+€107.5m
Taxes
+€655,469
Result 2025
-€807,927
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€23.4m
Investment
-€10.0m
Financing
-€13.4m
Cash 2024
€60,720
From operations (derived)
+€23.4m
Net result for the year
-€807,927
Depreciation
+€6.7m
Receivables after one year
-€7.4m
Stocks and contracts
-€617,892
Receivables within one year
+€30.5m
Deferred charges and accrued income
+€322,051
Provisions
-€6.1m
Trade debts
+€1.2m
Tax, wage and social debts
-€497,974
Other debts
+€163,167
Accrued charges and deferred income
-€73,544
Investment (derived)
-€10.0m
Investment in fixed assets (net)
-€49.0m
Current investments
+€39.0m
Financing
-€13.4m
Debts after one year
+€2.8m
Current portion of long-term debt
+€289,384
Short-term financial debts
+€30,566
Contributions, distributions and other
-€16.5m
Cash 2025
€45,221
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €765,891,498 | €746,360,636 | -€19.5m | -2.6% |
| Fixed assets | 21/28 | €660,800,461 | €703,126,015 | +€42.3m | +6.4% |
| Intangible fixed assets | 21 | €11,106,154 | €12,783,469 | +€1.7m | +15.1% |
| Tangible fixed assets | 22/27 | €32,230,689 | €37,242,071 | +€5.0m | +15.5% |
| Land and buildings | 22 | €8,812,397 | €8,321,754 | -€490,643 | -5.6% |
| Plant, machinery and equipment | 23 | €12,425,118 | €11,564,207 | -€860,911 | -6.9% |
| Furniture and vehicles | 24 | €959,963 | €561,935 | -€398,028 | -41.5% |
| Leasing and similar rights | 25 | €9,415,180 | €9,034,214 | -€380,966 | -4.0% |
| Assets under construction and advance payments | 27 | €618,030 | €7,759,960 | +€7.1m | +1,156% |
| Financial fixed assets | 28 | €617,463,618 | €653,100,475 | +€35.6m | +5.8% |
| Affiliated companies | 280/1 | €605,111,135 | €652,341,284 | +€47.2m | +7.8% |
| Participating interests | 280 | €552,121,194 | €599,781,795 | +€47.7m | +8.6% |
| Amounts receivable | 281 | €52,989,940 | €52,559,489 | -€430,451 | -0.8% |
| Companies linked by participating interests | 282/3 | €11,524,280 | - | -€11.5m | |
| Amounts receivable | 283 | €11,524,280 | - | -€11.5m | |
| Other financial fixed assets | 284/8 | €828,203 | €759,190 | -€69,013 | -8.3% |
| Shares | 284 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €328,203 | €259,190 | -€69,013 | -21.0% |
| Current assets | 29/58 | €105,091,037 | €43,234,621 | -€61.9m | -58.9% |
| Amounts receivable after more than one year | 29 | €1,792,110 | €9,142,347 | +€7.4m | +410% |
| Other amounts receivable | 291 | €1,792,110 | €9,142,347 | +€7.4m | +410% |
| Stocks and contracts in progress | 3 | €10,476,605 | €11,094,498 | +€617,892 | +5.9% |
| Stocks | 30/36 | €10,476,605 | €11,094,498 | +€617,892 | +5.9% |
| Raw materials and consumables | 30/31 | €5,416,246 | €4,893,552 | -€522,694 | -9.7% |
| Work in progress | 32 | €5,662 | €50,164 | +€44,501 | +786% |
| Finished goods | 33 | €4,833,247 | €5,105,683 | +€272,436 | +5.6% |
| Goods purchased for resale | 34 | €221,450 | €177,048 | -€44,402 | -20.1% |
| Advance payments | 36 | - | €868,051 | +€868,051 | |
| Amounts receivable within one year | 40/41 | €50,550,693 | €20,063,699 | -€30.5m | -60.3% |
| Trade receivables | 40 | €23,099,547 | €8,371,373 | -€14.7m | -63.8% |
| Other amounts receivable | 41 | €27,451,146 | €11,692,327 | -€15.8m | -57.4% |
| Current investments | 50/53 | €40,398,050 | €1,398,050 | -€39.0m | -96.5% |
| Own shares | 50 | €1,398,050 | €1,398,050 | = | 0.0% |
| Other investments | 51/53 | €39,000,000 | €0 | -€39.0m | -100% |
| Cash at bank and in hand | 54/58 | €60,720 | €45,221 | -€15,499 | -25.5% |
| Deferred charges and accrued income | 490/1 | €1,812,858 | €1,490,806 | -€322,051 | -17.8% |
| Total equity and liabilities | 10/49 | €765,891,498 | €746,360,636 | -€19.5m | -2.6% |
| Equity | 10/15 | €672,990,843 | €655,641,161 | -€17.3m | -2.6% |
| Contributions | 10/11 | €277,210,830 | €278,262,480 | +€1.1m | +0.4% |
| Capital | 10 | €141,514,800 | €141,882,300 | +€367,500 | +0.3% |
| Issued capital | 100 | €141,514,800 | €141,882,300 | +€367,500 | +0.3% |
| Contributions outside capital | 11 | €135,696,030 | €136,380,180 | +€684,150 | +0.5% |
| Share premium | 1100/10 | €135,696,030 | €136,380,180 | +€684,150 | +0.5% |
| Revaluation surpluses | 12 | €2,551,433 | €2,551,433 | = | 0.0% |
| Reserves | 13 | €17,645,265 | €17,645,265 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,455,780 | €15,455,780 | = | 0.0% |
| Legal reserve | 130 | €14,057,730 | €14,057,730 | = | 0.0% |
| Own shares acquired | 1312 | €1,398,050 | €1,398,050 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,781 | €15,781 | = | 0.0% |
| Distributable reserves | 133 | €2,173,704 | €2,173,704 | = | 0.0% |
| Profit (loss) carried forward | 14 | €375,583,314 | €357,181,982 | -€18.4m | -4.9% |
| Provisions and deferred taxes | 16 | €19,946,566 | €13,872,084 | -€6.1m | -30.5% |
| Provisions for liabilities and charges | 160/5 | €19,946,566 | €13,872,084 | -€6.1m | -30.5% |
| Environmental obligations | 163 | €885,258 | €122,276 | -€762,982 | -86.2% |
| Other liabilities and charges | 164/5 | €19,061,308 | €13,749,808 | -€5.3m | -27.9% |
| Amounts payable | 17/49 | €72,954,090 | €76,847,391 | +€3.9m | +5.3% |
| Amounts payable after more than one year | 17 | €4,375,662 | €7,201,681 | +€2.8m | +64.6% |
| Financial debts | 170/4 | €4,375,662 | €7,201,681 | +€2.8m | +64.6% |
| Leasing and similar obligations | 172 | €4,375,662 | €3,744,355 | -€631,308 | -14.4% |
| Credit institutions | 173 | - | €3,457,326 | +€3.5m | |
| Amounts payable within one year | 42/48 | €67,152,271 | €68,293,098 | +€1.1m | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €625,655 | €915,039 | +€289,384 | +46.3% |
| Financial debts | 43 | €26,000,797 | €26,031,363 | +€30,566 | +0.1% |
| Other loans | 439 | €26,000,797 | €26,031,363 | +€30,566 | +0.1% |
| Trade debts | 44 | €16,684,349 | €17,840,033 | +€1.2m | +6.9% |
| Suppliers | 440/4 | €16,684,349 | €17,840,033 | +€1.2m | +6.9% |
| Taxes, remuneration and social security | 45 | €4,248,456 | €3,750,482 | -€497,974 | -11.7% |
| Taxes | 450/3 | €274,616 | €74,715 | -€199,901 | -72.8% |
| Remuneration and social security | 454/9 | €3,973,840 | €3,675,767 | -€298,073 | -7.5% |
| Other amounts payable | 47/48 | €19,593,015 | €19,756,182 | +€163,167 | +0.8% |
| Accrued charges and deferred income | 492/3 | €1,426,156 | €1,352,612 | -€73,544 | -5.2% |
| Operating income | 70/76A | €145,053,519 | €154,401,807 | +€9.3m | +6.4% |
| Turnover | 70 | €118,300,635 | €128,314,819 | +€10.0m | +8.5% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €522,341 | €313,482 | -€208,858 | -40.0% |
| Own construction capitalised | 72 | €3,048,836 | €4,054,626 | +€1.0m | +33.0% |
| Other operating income | 74 | €22,491,065 | €21,630,894 | -€860,170 | -3.8% |
| Non-recurring operating income | 76A | €690,643 | €87,985 | -€602,658 | -87.3% |
| Operating charges | 60/66A | €146,649,112 | €146,914,271 | +€265,159 | +0.2% |
| Goods for resale, raw materials and consumables | 60 | €82,304,373 | €88,231,370 | +€5.9m | +7.2% |
| Purchases | 600/8 | €82,312,241 | €87,419,079 | +€5.1m | +6.2% |
| Change in stocks: decrease (increase) | 609 | -€7,868 | €812,291 | +€820,159 | |
| Services and other goods | 61 | €27,365,710 | €33,034,181 | +€5.7m | +20.7% |
| Remuneration, social security and pensions | 62 | €26,068,958 | €24,439,610 | -€1.6m | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,825,957 | €6,669,473 | -€156,484 | -2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€365,198 | €143,068 | +€508,266 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,956,101 | -€6,133,842 | -€9.1m | |
| Other operating charges | 640/8 | €510,035 | €459,089 | -€50,947 | -10.0% |
| Non-recurring operating charges | 66A | €983,176 | €71,323 | -€911,854 | -92.7% |
| Operating profit (loss) | 9901 | -€1,595,593 | €7,487,536 | +€9.1m | |
| Financial income | 75/76B | €55,544,634 | €9,327,071 | -€46.2m | -83.2% |
| Recurring financial income | 75 | €54,040,434 | €9,327,071 | -€44.7m | -82.7% |
| Income from financial fixed assets | 750 | €48,011,640 | €34,206 | -€48.0m | -99.9% |
| Income from current assets | 751 | €3,662,776 | €4,304,959 | +€642,184 | +17.5% |
| Other financial income | 752/9 | €2,366,018 | €4,987,906 | +€2.6m | +111% |
| Non-recurring financial income | 76B | €1,504,201 | €0 | -€1.5m | -100% |
| Financial charges | 65/66B | €125,026,244 | €17,548,879 | -€107.5m | -86.0% |
| Recurring financial charges | 65 | €2,615,665 | €5,099,087 | +€2.5m | +94.9% |
| Debt charges | 650 | €264,462 | €702,989 | +€438,527 | +166% |
| Other financial charges | 652/9 | €2,351,204 | €4,396,098 | +€2.0m | +87.0% |
| Non-recurring financial charges | 66B | €122,410,579 | €12,449,792 | -€110.0m | -89.8% |
| Profit (loss) for the period before taxes | 9903 | -€71,077,203 | -€734,272 | +€70.3m | +99.0% |
| Income taxes | 67/77 | €729,124 | €73,655 | -€655,469 | -89.9% |
| Taxes | 670/3 | €729,124 | €73,813 | -€655,311 | -89.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €159 | +€159 | |
| Profit (loss) for the period | 9904 | -€71,806,327 | -€807,927 | +€71.0m | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,806,327 | -€807,927 | +€71.0m | +98.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.