RECUP ' AIR: what changed
RECUP ' AIR
Largest movements
- Tangible fixed assets +€41,235
up €41,235 (+24.0%), from €171,543 to €212,778
- Receivables within one year -€20,126
down €20,126 (-88.8%), from €22,677 to €2,551
of which Trade receivables: -€21,054
- Cash +€4,218
up €4,218 (+71.7%), from €5,886 to €10,104
mainly Debts after one year (+€20,402) and Receivables within one year (+€20,126)
- Trade debts -€21,241
down €21,241 (-75.8%), from €28,031 to €6,790
- Debts after one year +€20,402
up €20,402 (+82.0%), from €24,889 to €45,290
of which Financial debts: +€17,402
- Other debts +€17,110
up €17,110 (+116%), from €14,749 to €31,859
- Contributions +€11,600
up €11,600 (+166%), from €7,000 to €18,600
- Tax, wage and social debts -€8,497
down €8,497 (-88.6%), from €9,595 to €1,098
- Write-downs -€13,031
down €13,031 (-93.6%), from €13,916 to €885
- Other operating charges +€8,656
new in 2025: €8,656
- Gross operating margin -€7,852
down €7,852 (-24.9%), from €31,561 to €23,709
- Financial charges -€1,720
down €1,720 (-40.0%), from €4,298 to €2,577
- Taxes -€377
down €377 (-23.8%), from €1,581 to €1,204
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,355 | €225,434 | +€25,078 | +12.5% |
| Fixed assets | 21/28 | €171,543 | €212,778 | +€41,235 | +24.0% |
| Tangible fixed assets | 22/27 | €171,543 | €212,778 | +€41,235 | +24.0% |
| Land and buildings | 22 | €171,543 | €212,778 | +€41,235 | +24.0% |
| Current assets | 29/58 | €28,812 | €12,655 | -€16,157 | -56.1% |
| Amounts receivable within one year | 40/41 | €22,677 | €2,551 | -€20,126 | -88.8% |
| Trade receivables | 40 | €22,660 | €1,606 | -€21,054 | -92.9% |
| Other amounts receivable | 41 | €17 | €945 | +€928 | +5,505% |
| Cash at bank and in hand | 54/58 | €5,886 | €10,104 | +€4,218 | +71.7% |
| Deferred charges and accrued income | 490/1 | €249 | - | -€249 | |
| Total equity and liabilities | 10/49 | €200,355 | €225,434 | +€25,078 | +12.5% |
| Equity | 10/15 | €99,763 | €113,886 | +€14,123 | +14.2% |
| Contributions | 10/11 | €7,000 | €18,600 | +€11,600 | +166% |
| Reserves | 13 | €11,860 | €11,860 | = | 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 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,687 | €75,477 | +€2,790 | +3.8% |
| Investment grants | 15 | €8,217 | €7,949 | -€267 | -3.3% |
| Amounts payable | 17/49 | €100,592 | €111,547 | +€10,955 | +10.9% |
| Amounts payable after more than one year | 17 | €24,889 | €45,290 | +€20,402 | +82.0% |
| Financial debts | 170/4 | €24,889 | €42,290 | +€17,402 | +69.9% |
| Other amounts payable | 178/9 | - | €3,000 | +€3,000 | |
| Amounts payable within one year | 42/48 | €75,704 | €66,257 | -€9,446 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €21,333 | €26,511 | +€5,178 | +24.3% |
| Financial debts | 43 | €1,995 | - | -€1,995 | |
| Credit institutions | 430/8 | €1,995 | - | -€1,995 | |
| Trade debts | 44 | €28,031 | €6,790 | -€21,241 | -75.8% |
| Suppliers | 440/4 | €28,031 | €6,790 | -€21,241 | -75.8% |
| Taxes, remuneration and social security | 45 | €9,595 | €1,098 | -€8,497 | -88.6% |
| Taxes | 450/3 | €9,595 | €1,098 | -€8,497 | -88.6% |
| Other amounts payable | 47/48 | €14,749 | €31,859 | +€17,110 | +116% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,504 | €7,864 | +€360 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,916 | €885 | -€13,031 | -93.6% |
| Other operating charges | 640/8 | - | €8,656 | +€8,656 | |
| Gross operating margin | 9900 | €31,561 | €23,709 | -€7,852 | -24.9% |
| Operating profit (loss) | 9901 | €10,141 | €6,304 | -€3,837 | -37.8% |
| Financial income | 75/76B | €268 | €268 | -€0 | -0.1% |
| Recurring financial income | 75 | €268 | €268 | -€0 | -0.1% |
| Financial charges | 65/66B | €4,298 | €2,577 | -€1,720 | -40.0% |
| Recurring financial charges | 65 | €4,298 | €2,577 | -€1,720 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €6,112 | €3,995 | -€2,117 | -34.6% |
| Income taxes | 67/77 | €1,581 | €1,204 | -€377 | -23.8% |
| Profit (loss) for the period | 9904 | €4,531 | €2,790 | -€1,740 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,531 | €2,790 | -€1,740 | -38.4% |
Next steps
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.