RECUPAN: 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.
RECUPAN
Largest movements
- Cash +€45,284
up €45,284 (+48.7%), from €92,987 to €138,271
mainly Net result for the year (+€116,558) and Depreciation (+€43,642)
- Receivables within one year +€13,019
up €13,019 (+15.2%), from €85,434 to €98,453
of which Trade receivables: +€6,907
- Tangible fixed assets -€11,226
down €11,226 (-2.7%), from €414,256 to €403,030
of which Furniture and vehicles: -€16,411
- Reserves +€96,371
up €96,371 (+17.3%), from €555,953 to €652,324
of which Distributable reserves: +€96,371
- Debts after one year -€24,597
down €24,597 (-100%), from €24,597 to €0
- Trade debts -€17,654
down €17,654 (-50.5%), from €34,961 to €17,307
- Gross operating margin +€62,139
up €62,139 (+39.4%), from €157,851 to €219,991
- Taxes +€28,243
up €28,243 (+108%), from €26,227 to €54,470
- Write-downs -€10,332
down €10,332 (-93.4%), from €11,059 to €728
- Depreciation +€3,908
up €3,908 (+9.8%), from €39,734 to €43,642
- Other operating charges -€3,059
down €3,059 (-75.2%), from €4,068 to €1,009
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 | €682,890 | €741,047 | +€58,157 | +8.5% |
| Fixed assets | 21/28 | €417,138 | €405,175 | -€11,962 | -2.9% |
| Intangible fixed assets | 21 | €2,881 | €2,145 | -€737 | -25.6% |
| Tangible fixed assets | 22/27 | €414,256 | €403,030 | -€11,226 | -2.7% |
| Land and buildings | 22 | €343,923 | €349,888 | +€5,965 | +1.7% |
| Plant, machinery and equipment | 23 | €2,450 | €1,670 | -€780 | -31.8% |
| Furniture and vehicles | 24 | €67,883 | €51,472 | -€16,411 | -24.2% |
| Current assets | 29/58 | €265,752 | €335,871 | +€70,119 | +26.4% |
| Stocks and contracts in progress | 3 | €81,947 | €86,503 | +€4,556 | +5.6% |
| Stocks | 30/36 | €81,947 | €86,503 | +€4,556 | +5.6% |
| Amounts receivable within one year | 40/41 | €85,434 | €98,453 | +€13,019 | +15.2% |
| Trade receivables | 40 | €68,451 | €75,357 | +€6,907 | +10.1% |
| Other amounts receivable | 41 | €16,983 | €23,095 | +€6,112 | +36.0% |
| Cash at bank and in hand | 54/58 | €92,987 | €138,271 | +€45,284 | +48.7% |
| Deferred charges and accrued income | 490/1 | €5,384 | €12,645 | +€7,260 | +135% |
| Total equity and liabilities | 10/49 | €682,890 | €741,047 | +€58,157 | +8.5% |
| Equity | 10/15 | €574,553 | €670,924 | +€96,371 | +16.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €555,953 | €652,324 | +€96,371 | +17.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €555,953 | €652,324 | +€96,371 | +17.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €108,337 | €70,123 | -€38,214 | -35.3% |
| Amounts payable after more than one year | 17 | €24,597 | €0 | -€24,597 | -100% |
| Financial debts | 170/4 | €24,597 | €0 | -€24,597 | -100% |
| Amounts payable within one year | 42/48 | €83,055 | €66,538 | -€16,517 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €28,552 | €24,597 | -€3,955 | -13.9% |
| Financial debts | 43 | €175 | €503 | +€328 | +188% |
| Credit institutions | 430/8 | €175 | €503 | +€328 | +188% |
| Trade debts | 44 | €34,961 | €17,307 | -€17,654 | -50.5% |
| Suppliers | 440/4 | €34,961 | €17,307 | -€17,654 | -50.5% |
| Taxes, remuneration and social security | 45 | €2,709 | €7,627 | +€4,918 | +182% |
| Taxes | 450/3 | €2,709 | €7,627 | +€4,918 | +182% |
| Other amounts payable | 47/48 | €16,659 | €16,505 | -€154 | -0.9% |
| Accrued charges and deferred income | 492/3 | €685 | €3,584 | +€2,900 | +423% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,734 | €43,642 | +€3,908 | +9.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,059 | €728 | -€10,332 | -93.4% |
| Other operating charges | 640/8 | €4,068 | €1,009 | -€3,059 | -75.2% |
| Gross operating margin | 9900 | €157,851 | €219,991 | +€62,139 | +39.4% |
| Operating profit (loss) | 9901 | €102,991 | €174,612 | +€71,621 | +69.5% |
| Financial income | 75/76B | €227 | €172 | -€55 | -24.2% |
| Recurring financial income | 75 | €227 | €172 | -€55 | -24.2% |
| Financial charges | 65/66B | €3,640 | €3,756 | +€116 | +3.2% |
| Recurring financial charges | 65 | €3,640 | €3,756 | +€116 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €99,578 | €171,028 | +€71,450 | +71.8% |
| Income taxes | 67/77 | €26,227 | €54,470 | +€28,243 | +108% |
| Profit (loss) for the period | 9904 | €73,351 | €116,558 | +€43,207 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,351 | €116,558 | +€43,207 | +58.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.