RECUERO: 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.
RECUERO
Largest movements
- Receivables within one year -€48,394
down €48,394 (-47.4%), from €102,175 to €53,781
of which Trade receivables: -€65,075
- Tangible fixed assets -€17,223
down €17,223 (-35.9%), from €47,967 to €30,744
of which Other tangible fixed assets: -€12,380
- Cash -€15,250
down €15,250 (-83.3%), from €18,303 to €3,052
mainly Net result for the year (-€34,647) and Trade debts (-€28,053)
- Profit (loss) carried forward -€34,647
down €34,647 (-78.1%), from €44,390 to €9,743
- Trade debts -€28,053
down €28,053 (-94.2%), from €29,771 to €1,718
- Tax, wage and social debts -€18,167
no longer reported in 2025 (was €18,167)
- Gross operating margin -€84,219
down €84,219, from €67,287 to -€16,933
- Taxes -€10,628
no longer reported in 2025 (was €10,628)
- Write-downs -€4,701
no longer reported in 2025 (was €4,701)
- Depreciation +€4,563
up €4,563 (+30.5%), from €14,976 to €19,538
- Financial charges -€3,745
down €3,745 (-86.9%), from €4,312 to €567
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 | €168,469 | €87,602 | -€80,867 | -48.0% |
| Fixed assets | 21/28 | €47,992 | €30,769 | -€17,223 | -35.9% |
| Tangible fixed assets | 22/27 | €47,967 | €30,744 | -€17,223 | -35.9% |
| Furniture and vehicles | 24 | €13,507 | €8,663 | -€4,843 | -35.9% |
| Other tangible fixed assets | 26 | €34,460 | €22,081 | -€12,380 | -35.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €120,477 | €56,833 | -€63,644 | -52.8% |
| Amounts receivable within one year | 40/41 | €102,175 | €53,781 | -€48,394 | -47.4% |
| Trade receivables | 40 | €66,908 | €1,833 | -€65,075 | -97.3% |
| Other amounts receivable | 41 | €35,266 | €51,947 | +€16,681 | +47.3% |
| Cash at bank and in hand | 54/58 | €18,303 | €3,052 | -€15,250 | -83.3% |
| Total equity and liabilities | 10/49 | €168,469 | €87,602 | -€80,867 | -48.0% |
| Equity | 10/15 | €120,531 | €85,884 | -€34,647 | -28.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €69,941 | €69,941 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €68,081 | €68,081 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,390 | €9,743 | -€34,647 | -78.1% |
| Amounts payable | 17/49 | €47,938 | €1,718 | -€46,220 | -96.4% |
| Amounts payable within one year | 42/48 | €47,938 | €1,718 | -€46,220 | -96.4% |
| Trade debts | 44 | €29,771 | €1,718 | -€28,053 | -94.2% |
| Suppliers | 440/4 | €29,771 | €1,718 | -€28,053 | -94.2% |
| Taxes, remuneration and social security | 45 | €18,167 | - | -€18,167 | |
| Taxes | 450/3 | €18,167 | - | -€18,167 | |
| Remuneration, social security and pensions | 62 | €2,765 | - | -€2,765 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,976 | €19,538 | +€4,563 | +30.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,701 | - | -€4,701 | |
| Other operating charges | 640/8 | €1,131 | - | -€1,131 | |
| Gross operating margin | 9900 | €67,287 | -€16,933 | -€84,219 | |
| Operating profit (loss) | 9901 | €43,714 | -€36,471 | -€80,185 | |
| Financial income | 75/76B | €2,525 | €2,391 | -€134 | -5.3% |
| Recurring financial income | 75 | €2,525 | €2,391 | -€134 | -5.3% |
| Financial charges | 65/66B | €4,312 | €567 | -€3,745 | -86.9% |
| Recurring financial charges | 65 | €4,312 | €567 | -€3,745 | -86.9% |
| Profit (loss) for the period before taxes | 9903 | €41,927 | -€34,647 | -€76,574 | |
| Income taxes | 67/77 | €10,628 | - | -€10,628 | |
| Profit (loss) for the period | 9904 | €31,299 | -€34,647 | -€65,946 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,299 | -€34,647 | -€65,946 |
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 15 October 2026 via checked.be.