RECYCAM: 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.
RECYCAM
Largest movements
- Current investments +€90,000
up €90,000 (+45.0%), from €200,000 to €290,000
- Tangible fixed assets -€89,481
down €89,481 (-30.0%), from €298,392 to €208,911
of which Leasing and similar rights: -€50,490
- Cash -€67,223
down €67,223 (-50.5%), from €133,039 to €65,815
mainly Other debts (-€199,200) and Current investments (-€90,000)
- Stocks and contracts -€17,895
down €17,895 (-33.5%), from €53,445 to €35,550
- Receivables within one year +€8,347
up €8,347 (+9.4%), from €88,518 to €96,865
of which Trade receivables: +€15,016
- Other debts -€199,200
down €199,200 (-92.9%), from €214,520 to €15,320
- Profit (loss) carried forward +€161,734
up €161,734 (+377.3%), from €42,869 to €204,603
- Debts after one year -€42,989
down €42,989 (-51.2%), from €83,918 to €40,930
- Tax, wage and social debts +€11,726
up €11,726 (+27.7%), from €42,377 to €54,103
of which Taxes: +€12,202
- Gross operating margin +€89,094
up €89,094 (+24.4%), from €364,512 to €453,605
- Taxes +€25,482
up €25,482 (+84.8%), from €30,047 to €55,529
- Depreciation -€17,821
down €17,821 (-14.9%), from €119,983 to €102,162
- Staff costs +€16,666
up €16,666 (+14.4%), from €115,360 to €132,026
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.
Cash bridge derived
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 | €775,501 | €699,757 | -€75,745 | -9.8% |
| Fixed assets | 21/28 | €298,392 | €208,911 | -€89,481 | -30.0% |
| Tangible fixed assets | 22/27 | €298,392 | €208,911 | -€89,481 | -30.0% |
| Land and buildings | 22 | €29,651 | €23,288 | -€6,363 | -21.5% |
| Plant, machinery and equipment | 23 | €119,484 | €86,856 | -€32,628 | -27.3% |
| Leasing and similar rights | 25 | €149,257 | €98,767 | -€50,490 | -33.8% |
| Current assets | 29/58 | €477,110 | €490,846 | +€13,736 | +2.9% |
| Stocks and contracts in progress | 3 | €53,445 | €35,550 | -€17,895 | -33.5% |
| Stocks | 30/36 | €53,445 | €35,550 | -€17,895 | -33.5% |
| Amounts receivable within one year | 40/41 | €88,518 | €96,865 | +€8,347 | +9.4% |
| Trade receivables | 40 | €81,849 | €96,865 | +€15,016 | +18.3% |
| Other amounts receivable | 41 | €6,669 | - | -€6,669 | |
| Current investments | 50/53 | €200,000 | €290,000 | +€90,000 | +45.0% |
| Cash at bank and in hand | 54/58 | €133,039 | €65,815 | -€67,223 | -50.5% |
| Deferred charges and accrued income | 490/1 | €2,109 | €2,616 | +€508 | +24.1% |
| Total equity and liabilities | 10/49 | €775,501 | €699,757 | -€75,745 | -9.8% |
| Equity | 10/15 | €372,869 | €534,603 | +€161,734 | +43.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,869 | €204,603 | +€161,734 | +377.3% |
| Amounts payable | 17/49 | €402,633 | €165,154 | -€237,479 | -59.0% |
| Amounts payable after more than one year | 17 | €83,918 | €40,930 | -€42,989 | -51.2% |
| Financial debts | 170/4 | €83,918 | €40,930 | -€42,989 | -51.2% |
| Amounts payable within one year | 42/48 | €318,714 | €124,021 | -€194,693 | -61.1% |
| Current portion of amounts payable after more than one year | 42 | €45,070 | €42,989 | -€2,081 | -4.6% |
| Trade debts | 44 | €16,748 | €11,609 | -€5,138 | -30.7% |
| Suppliers | 440/4 | €16,748 | €11,609 | -€5,138 | -30.7% |
| Taxes, remuneration and social security | 45 | €42,377 | €54,103 | +€11,726 | +27.7% |
| Taxes | 450/3 | €35,252 | €47,454 | +€12,202 | +34.6% |
| Remuneration and social security | 454/9 | €7,125 | €6,649 | -€476 | -6.7% |
| Other amounts payable | 47/48 | €214,520 | €15,320 | -€199,200 | -92.9% |
| Accrued charges and deferred income | 492/3 | - | €203 | +€203 | |
| Non-recurring operating income | 76A | €2,547 | - | -€2,547 | |
| Remuneration, social security and pensions | 62 | €115,360 | €132,026 | +€16,666 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,983 | €102,162 | -€17,821 | -14.9% |
| Other operating charges | 640/8 | €76 | €1,015 | +€940 | +1243.8% |
| Gross operating margin | 9900 | €364,512 | €453,605 | +€89,094 | +24.4% |
| Operating profit (loss) | 9901 | €129,094 | €218,402 | +€89,308 | +69.2% |
| Financial income | 75/76B | €5,375 | €4,513 | -€862 | -16.0% |
| Recurring financial income | 75 | €5,375 | €4,513 | -€862 | -16.0% |
| Financial charges | 65/66B | €7,330 | €5,651 | -€1,679 | -22.9% |
| Recurring financial charges | 65 | €7,330 | €5,651 | -€1,679 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €127,138 | €217,264 | +€90,125 | +70.9% |
| Income taxes | 67/77 | €30,047 | €55,529 | +€25,482 | +84.8% |
| Profit (loss) for the period | 9904 | €97,092 | €161,734 | +€64,643 | +66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €97,092 | €161,734 | +€64,643 | +66.6% |
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 11 October 2026 via checked.be.