RECY-KAB: 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.
What changed
RECY-KAB
NACE 38.210, Materials recovery from waste
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€17,377
2024 · -€47,705+€65,082
Equity
€572,741
2024 · -€32,035+€604,776
Cash
€26,107
2024 · €22,766+€3,341
Balance sheet total
€1.5m
2024 · €1.0m+€532,511
Largest movements
Assets
- Tangible fixed assets +€476,375
up €476,375 (+55.5%), from €858,988 to €1.3m
of which Land and buildings: +€538,463
- Stocks and contracts +€55,653
up €55,653 (+45.5%), from €122,329 to €177,983
Equity and liabilities
- Revaluation surpluses +€575,000
new in 2025: €575,000
- Debts after one year -€65,815
down €65,815 (-9.3%), from €707,203 to €641,388
- Tax, wage and social debts +€18,856
up €18,856 (+126%), from €14,911 to €33,767
of which Remuneration and social security: +€14,850
- Profit (loss) carried forward +€17,377
up €17,377 (+11.0%), from -€157,275 to -€139,898
Income statement
- Gross operating margin +€57,581
up €57,581 (+22.0%), from €261,946 to €319,527
- Depreciation -€12,780
down €12,780 (-12.5%), from €102,498 to €89,718
- Staff costs -€12,537
down €12,537 (-7.6%), from €164,690 to €152,153
- Financial charges +€3,726
up €3,726 (+11.2%), from €33,351 to €37,077
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.
Result 2024
-€47,705
Gross operating margin
+€57,581
Staff costs
+€12,537
Depreciation
+€12,780
Other operating charges
+€442
Other operating items
-€14,242
Financial income
+€6
Financial charges
-€3,726
Taxes
-€296
Result 2025
€17,377
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€63,258
Investment
-€566,593
Financing
+€506,676
Cash 2024
€22,766
From operations (derived)
+€63,258
Net result for the year
+€17,377
Depreciation
+€89,718
Stocks and contracts
-€55,653
Receivables within one year
+€2,025
Deferred charges and accrued income
+€1,333
Trade debts
-€8,220
Tax, wage and social debts
+€18,856
Other debts
-€6,030
Accrued charges and deferred income
+€3,852
Investment (derived)
-€566,593
Investment in fixed assets (net)
-€566,593
Financing
+€506,676
Debts after one year
-€65,815
Current portion of long-term debt
-€14,908
Contributions, distributions and other
+€587,399
Cash 2025
€26,107
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,016,360 | €1,548,871 | +€532,511 | +52.4% |
| Fixed assets | 21/28 | €858,988 | €1,335,863 | +€476,875 | +55.5% |
| Tangible fixed assets | 22/27 | €858,988 | €1,335,363 | +€476,375 | +55.5% |
| Land and buildings | 22 | €725,585 | €1,264,049 | +€538,463 | +74.2% |
| Plant, machinery and equipment | 23 | €104,306 | €67,295 | -€37,011 | -35.5% |
| Furniture and vehicles | 24 | €29,096 | €4,019 | -€25,077 | -86.2% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €157,372 | €213,008 | +€55,636 | +35.4% |
| Stocks and contracts in progress | 3 | €122,329 | €177,983 | +€55,653 | +45.5% |
| Stocks | 30/36 | €122,329 | €177,983 | +€55,653 | +45.5% |
| Amounts receivable within one year | 40/41 | €7,373 | €5,348 | -€2,025 | -27.5% |
| Trade receivables | 40 | €3,822 | €1,893 | -€1,929 | -50.5% |
| Other amounts receivable | 41 | €3,551 | €3,456 | -€96 | -2.7% |
| Cash at bank and in hand | 54/58 | €22,766 | €26,107 | +€3,341 | +14.7% |
| Deferred charges and accrued income | 490/1 | €4,903 | €3,570 | -€1,333 | -27.2% |
| Total equity and liabilities | 10/49 | €1,016,360 | €1,548,871 | +€532,511 | +52.4% |
| Equity | 10/15 | -€32,035 | €572,741 | +€604,776 | |
| Contributions | 10/11 | €6,201 | €18,600 | +€12,399 | +200% |
| Revaluation surpluses | 12 | - | €575,000 | +€575,000 | |
| Reserves | 13 | €119,040 | €119,040 | = | 0.0% |
| Distributable reserves | 133 | €119,040 | €119,040 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,275 | -€139,898 | +€17,377 | +11.0% |
| Amounts payable | 17/49 | €1,048,395 | €976,130 | -€72,265 | -6.9% |
| Amounts payable after more than one year | 17 | €707,203 | €641,388 | -€65,815 | -9.3% |
| Financial debts | 170/4 | €707,203 | €641,388 | -€65,815 | -9.3% |
| Amounts payable within one year | 42/48 | €341,192 | €330,890 | -€10,302 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €86,774 | €71,865 | -€14,908 | -17.2% |
| Trade debts | 44 | €19,581 | €11,361 | -€8,220 | -42.0% |
| Suppliers | 440/4 | €19,581 | €11,361 | -€8,220 | -42.0% |
| Taxes, remuneration and social security | 45 | €14,911 | €33,767 | +€18,856 | +126% |
| Taxes | 450/3 | €2,376 | €6,382 | +€4,006 | +169% |
| Remuneration and social security | 454/9 | €12,535 | €27,385 | +€14,850 | +118% |
| Other amounts payable | 47/48 | €219,926 | €213,897 | -€6,030 | -2.7% |
| Accrued charges and deferred income | 492/3 | - | €3,852 | +€3,852 | |
| Non-recurring operating income | 76A | €16,934 | €19,227 | +€2,293 | +13.5% |
| Remuneration, social security and pensions | 62 | €164,690 | €152,153 | -€12,537 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,498 | €89,718 | -€12,780 | -12.5% |
| Other operating charges | 640/8 | €8,340 | €7,898 | -€442 | -5.3% |
| Non-recurring operating charges | 66A | - | €14,242 | +€14,242 | |
| Gross operating margin | 9900 | €261,946 | €319,527 | +€57,581 | +22.0% |
| Operating profit (loss) | 9901 | -€13,582 | €55,516 | +€69,098 | |
| Financial income | 75/76B | €142 | €147 | +€6 | +4.0% |
| Recurring financial income | 75 | €142 | €147 | +€6 | +4.0% |
| Financial charges | 65/66B | €33,351 | €37,077 | +€3,726 | +11.2% |
| Recurring financial charges | 65 | €33,351 | €37,077 | +€3,726 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | -€46,791 | €18,586 | +€65,378 | |
| Income taxes | 67/77 | €913 | €1,210 | +€296 | +32.5% |
| Profit (loss) for the period | 9904 | -€47,705 | €17,377 | +€65,082 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,705 | €17,377 | +€65,082 |
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 20 October 2026 via checked.be.