RECYC WEST: 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.
RECYC WEST
Largest movements
- Tangible fixed assets +€965,309
up €965,309 (+23.9%), from €4.0m to €5.0m
of which Land and buildings: +€4.7m
- Receivables after one year -€831,671
down €831,671 (-28.2%), from €3.0m to €2.1m
- Receivables within one year +€295,446
up €295,446 (+241%), from €122,721 to €418,167
of which Other amounts receivable: +€330,000
- Other debts +€768,394
up €768,394 (+36.4%), from €2.1m to €2.9m
- Trade debts -€233,447
down €233,447 (-21.6%), from €1.1m to €848,337
- Depreciation +€112,173
up €112,173 (+709%), from €15,820 to €127,993
- Gross operating margin +€15,425
up €15,425 (+395%), from €3,905 to €19,330
- Financial income -€12,380
down €12,380 (-24.8%), from €49,941 to €37,561
- Financial charges +€10,192
up €10,192 (+1,405%), from €726 to €10,918
- Other operating charges +€4,130
up €4,130 (+130%), from €3,173 to €7,303
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 | €7,164,466 | €7,592,951 | +€428,485 | +6.0% |
| Fixed assets | 21/28 | €4,038,206 | €5,000,970 | +€962,764 | +23.8% |
| Tangible fixed assets | 22/27 | €4,035,662 | €5,000,970 | +€965,309 | +23.9% |
| Land and buildings | 22 | €336,951 | €5,000,970 | +€4.7m | +1,384% |
| Assets under construction and advance payments | 27 | €3,698,711 | €0 | -€3.7m | -100% |
| Financial fixed assets | 28 | €2,545 | €0 | -€2,545 | -100% |
| Current assets | 29/58 | €3,126,260 | €2,591,980 | -€534,279 | -17.1% |
| Amounts receivable after more than one year | 29 | €2,951,815 | €2,120,144 | -€831,671 | -28.2% |
| Other amounts receivable | 291 | €2,951,815 | €2,120,144 | -€831,671 | -28.2% |
| Amounts receivable within one year | 40/41 | €122,721 | €418,167 | +€295,446 | +241% |
| Trade receivables | 40 | €34,554 | €0 | -€34,554 | -100% |
| Other amounts receivable | 41 | €88,167 | €418,167 | +€330,000 | +374% |
| Cash at bank and in hand | 54/58 | €48,690 | €48,536 | -€154 | -0.3% |
| Deferred charges and accrued income | 490/1 | €3,033 | €5,133 | +€2,100 | +69.2% |
| Total equity and liabilities | 10/49 | €7,164,466 | €7,592,951 | +€428,485 | +6.0% |
| Equity | 10/15 | €3,148,839 | €3,083,394 | -€65,445 | -2.1% |
| Contributions | 10/11 | €565,589 | €565,589 | = | 0.0% |
| Reserves | 13 | €2,583,250 | €2,517,805 | -€65,445 | -2.5% |
| Tax-exempt reserves | 132 | €2,363,989 | €2,292,353 | -€71,636 | -3.0% |
| Distributable reserves | 133 | €219,261 | €225,452 | +€6,192 | +2.8% |
| Provisions and deferred taxes | 16 | €787,996 | €764,118 | -€23,879 | -3.0% |
| Deferred taxes | 168 | €787,996 | €764,118 | -€23,879 | -3.0% |
| Amounts payable | 17/49 | €3,227,631 | €3,745,439 | +€517,808 | +16.0% |
| Amounts payable within one year | 42/48 | €3,227,631 | €3,745,439 | +€517,808 | +16.0% |
| Trade debts | 44 | €1,081,784 | €848,337 | -€233,447 | -21.6% |
| Suppliers | 440/4 | €1,081,784 | €848,337 | -€233,447 | -21.6% |
| Taxes, remuneration and social security | 45 | €36,723 | €19,584 | -€17,139 | -46.7% |
| Taxes | 450/3 | €36,723 | €19,584 | -€17,139 | -46.7% |
| Other amounts payable | 47/48 | €2,109,125 | €2,877,518 | +€768,394 | +36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,820 | €127,993 | +€112,173 | +709% |
| Other operating charges | 640/8 | €3,173 | €7,303 | +€4,130 | +130% |
| Gross operating margin | 9900 | €3,905 | €19,330 | +€15,425 | +395% |
| Operating profit (loss) | 9901 | -€15,089 | -€115,967 | -€100,878 | -669% |
| Financial income | 75/76B | €49,941 | €37,561 | -€12,380 | -24.8% |
| Recurring financial income | 75 | €49,941 | €37,561 | -€12,380 | -24.8% |
| Financial charges | 65/66B | €726 | €10,918 | +€10,192 | +1,405% |
| Recurring financial charges | 65 | €726 | €10,918 | +€10,192 | +1,405% |
| Profit (loss) for the period before taxes | 9903 | €34,126 | -€89,323 | -€123,450 | |
| Transfer from deferred taxes | 780 | - | €23,879 | +€23,879 | |
| Profit (loss) for the period | 9904 | €34,126 | -€65,445 | -€99,571 | |
| Transfer from tax-exempt reserves | 789 | - | €71,636 | +€71,636 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,126 | €6,192 | -€27,935 | -81.9% |
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 14 October 2026 via checked.be.