Recyclaz: 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.
Recyclaz
Largest movements
- Receivables within one year -€203,712
down €203,712 (-40.6%), from €501,400 to €297,687
of which Trade receivables: -€213,208
- Tangible fixed assets +€173,284
up €173,284 (+19.8%), from €873,409 to €1.0m
of which Plant, machinery and equipment: +€120,276
- Cash -€23,465
down €23,465 (-28.2%), from €83,241 to €59,776
mainly Investment in fixed assets (net) (-€261,882) and Trade debts (-€90,504)
- Trade debts -€90,504
down €90,504 (-22.0%), from €410,715 to €320,211
- Reserves +€50,000
up €50,000 (+37.9%), from €132,000 to €182,000
of which Distributable reserves: +€50,000
- Gross operating margin +€66,573
up €66,573 (+30.2%), from €220,643 to €287,216
- Depreciation +€38,111
up €38,111 (+75.5%), from €50,488 to €88,598
- Other operating charges +€16,346
up €16,346 (+451%), from €3,621 to €19,967
- Staff costs +€14,423
up €14,423 (+24.3%), from €59,452 to €73,876
- Financial charges +€4,619
up €4,619 (+20.0%), from €23,052 to €27,671
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 | €1,461,961 | €1,409,705 | -€52,256 | -3.6% |
| Fixed assets | 21/28 | €873,409 | €1,046,693 | +€173,284 | +19.8% |
| Tangible fixed assets | 22/27 | €873,409 | €1,046,693 | +€173,284 | +19.8% |
| Land and buildings | 22 | €684,683 | €699,580 | +€14,897 | +2.2% |
| Plant, machinery and equipment | 23 | €166,348 | €286,624 | +€120,276 | +72.3% |
| Furniture and vehicles | 24 | €22,378 | €60,489 | +€38,111 | +170% |
| Current assets | 29/58 | €588,552 | €363,012 | -€225,540 | -38.3% |
| Amounts receivable within one year | 40/41 | €501,400 | €297,687 | -€203,712 | -40.6% |
| Trade receivables | 40 | €497,183 | €283,976 | -€213,208 | -42.9% |
| Other amounts receivable | 41 | €4,217 | €13,712 | +€9,495 | +225% |
| Cash at bank and in hand | 54/58 | €83,241 | €59,776 | -€23,465 | -28.2% |
| Deferred charges and accrued income | 490/1 | €3,911 | €5,549 | +€1,637 | +41.9% |
| Total equity and liabilities | 10/49 | €1,461,961 | €1,409,705 | -€52,256 | -3.6% |
| Equity | 10/15 | €300,714 | €351,757 | +€51,043 | +17.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €132,000 | €182,000 | +€50,000 | +37.9% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €128,000 | €178,000 | +€50,000 | +39.1% |
| Profit (loss) carried forward | 14 | €118,714 | €119,757 | +€1,043 | +0.9% |
| Amounts payable | 17/49 | €1,161,247 | €1,057,948 | -€103,298 | -8.9% |
| Amounts payable after more than one year | 17 | €563,968 | €560,087 | -€3,881 | -0.7% |
| Financial debts | 170/4 | €563,968 | €560,087 | -€3,881 | -0.7% |
| Amounts payable within one year | 42/48 | €597,279 | €497,861 | -€99,418 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €90,402 | €91,563 | +€1,161 | +1.3% |
| Trade debts | 44 | €410,715 | €320,211 | -€90,504 | -22.0% |
| Suppliers | 440/4 | €410,715 | €320,211 | -€90,504 | -22.0% |
| Taxes, remuneration and social security | 45 | €59,825 | €49,655 | -€10,171 | -17.0% |
| Taxes | 450/3 | €59,225 | €48,771 | -€10,454 | -17.7% |
| Remuneration and social security | 454/9 | €600 | €883 | +€283 | +47.2% |
| Other amounts payable | 47/48 | €36,337 | €36,433 | +€96 | +0.3% |
| Remuneration, social security and pensions | 62 | €59,452 | €73,876 | +€14,423 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,488 | €88,598 | +€38,111 | +75.5% |
| Other operating charges | 640/8 | €3,621 | €19,967 | +€16,346 | +451% |
| Gross operating margin | 9900 | €220,643 | €287,216 | +€66,573 | +30.2% |
| Operating profit (loss) | 9901 | €107,083 | €104,775 | -€2,307 | -2.2% |
| Financial income | 75/76B | €129 | €83 | -€46 | -35.6% |
| Recurring financial income | 75 | €129 | €83 | -€46 | -35.6% |
| Financial charges | 65/66B | €23,052 | €27,671 | +€4,619 | +20.0% |
| Recurring financial charges | 65 | €23,052 | €27,671 | +€4,619 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €84,159 | €77,188 | -€6,972 | -8.3% |
| Income taxes | 67/77 | €22,671 | €26,145 | +€3,473 | +15.3% |
| Profit (loss) for the period | 9904 | €61,488 | €51,043 | -€10,445 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,488 | €51,043 | -€10,445 | -17.0% |
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 16 October 2026 via checked.be.