RECYCLING: 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
RECYCLING
NACE 39.000, Remediation activities and other waste management service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€12,049
2024 · €19,102-€7,053
Equity
€1.6m
2024 · €1.6m+€12,049
Cash
€45,554
2024 · €6,739+€38,815
Balance sheet total
€2.7m
2024 · €2.3m+€380,430
Largest movements
Assets
- Receivables within one year +€377,952
up €377,952 (+17.0%), from €2.2m to €2.6m
of which Other amounts receivable: +€293,967
- Cash +€38,815
up €38,815 (+576%), from €6,739 to €45,554
mainly Trade debts (+€371,473) and Depreciation (+€27,230)
- Tangible fixed assets -€27,230
down €27,230 (-53.1%), from €51,294 to €24,064
Equity and liabilities
- Trade debts +€371,473
up €371,473 (+251%), from €147,760 to €519,232
Income statement
- Turnover +€234,479
up €234,479 (+20.4%), from €1.1m to €1.4m
- Goods and materials +€178,975
up €178,975 (+31.4%), from €570,440 to €749,415
- Services and other goods +€54,723
up €54,723 (+12.8%), from €427,808 to €482,531
- Staff costs +€15,313
up €15,313 (+29.5%), from €51,953 to €67,266
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
€19,102
Turnover
+€234,479
Other operating income
-€80
Goods and materials
-€178,975
Services and other goods
-€54,723
Staff costs
-€15,313
Depreciation
+€4,157
Other operating charges
-€882
Financial income
+€500
Financial charges
+€1,352
Taxes
+€2,431
Result 2025
€12,049
raises the resultlowers the result
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
+€35,452
Investment
€0
Financing
+€3,363
Cash 2024
€6,739
From operations (derived)
+€35,452
Net result for the year
+€12,049
Depreciation
+€27,230
Receivables within one year
-€377,952
Deferred charges and accrued income
+€9,107
Trade debts
+€371,473
Tax, wage and social debts
-€13,410
Other debts
+€6,957
Financing
+€3,363
Short-term financial debts
+€3,363
Cash 2025
€45,554
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,292,604 | €2,673,035 | +€380,430 | +16.6% |
| Fixed assets | 21/28 | €51,404 | €24,174 | -€27,230 | -53.0% |
| Tangible fixed assets | 22/27 | €51,294 | €24,064 | -€27,230 | -53.1% |
| Plant, machinery and equipment | 23 | €51,294 | €24,064 | -€27,230 | -53.1% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Other financial fixed assets | 284/8 | €110 | €110 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €2,241,201 | €2,648,860 | +€407,660 | +18.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,225,354 | €2,603,306 | +€377,952 | +17.0% |
| Trade receivables | 40 | €456,208 | €540,193 | +€83,985 | +18.4% |
| Other amounts receivable | 41 | €1,769,146 | €2,063,114 | +€293,967 | +16.6% |
| Cash at bank and in hand | 54/58 | €6,739 | €45,554 | +€38,815 | +576% |
| Deferred charges and accrued income | 490/1 | €9,107 | €0 | -€9,107 | -100% |
| Total equity and liabilities | 10/49 | €2,292,604 | €2,673,035 | +€380,430 | +16.6% |
| Equity | 10/15 | €1,560,912 | €1,572,960 | +€12,049 | +0.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,275,000 | €1,275,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €1,250,000 | €1,250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,912 | €47,960 | +€12,049 | +33.6% |
| Amounts payable | 17/49 | €731,692 | €1,100,074 | +€368,382 | +50.3% |
| Amounts payable within one year | 42/48 | €491,692 | €860,074 | +€368,382 | +74.9% |
| Financial debts | 43 | - | €3,363 | +€3,363 | |
| Credit institutions | 430/8 | - | €3,363 | +€3,363 | |
| Trade debts | 44 | €147,760 | €519,232 | +€371,473 | +251% |
| Suppliers | 440/4 | €147,760 | €519,232 | +€371,473 | +251% |
| Taxes, remuneration and social security | 45 | €22,372 | €8,962 | -€13,410 | -59.9% |
| Taxes | 450/3 | €14,476 | €552 | -€13,925 | -96.2% |
| Remuneration and social security | 454/9 | €7,895 | €8,410 | +€515 | +6.5% |
| Other amounts payable | 47/48 | €321,561 | €328,517 | +€6,957 | +2.2% |
| Accrued charges and deferred income | 492/3 | €240,000 | €240,000 | = | 0.0% |
| Operating income | 70/76A | €1,150,077 | €1,384,476 | +€234,399 | +20.4% |
| Turnover | 70 | €1,149,997 | €1,384,476 | +€234,479 | +20.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €0 | - | = | |
| Other operating income | 74 | €80 | €0 | -€80 | -100% |
| Operating charges | 60/66A | €1,118,879 | €1,364,615 | +€245,736 | +22.0% |
| Goods for resale, raw materials and consumables | 60 | €570,440 | €749,415 | +€178,975 | +31.4% |
| Purchases | 600/8 | €570,440 | €749,415 | +€178,975 | +31.4% |
| Services and other goods | 61 | €427,808 | €482,531 | +€54,723 | +12.8% |
| Remuneration, social security and pensions | 62 | €51,953 | €67,266 | +€15,313 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,387 | €27,230 | -€4,157 | -13.2% |
| Other operating charges | 640/8 | €37,292 | €38,174 | +€882 | +2.4% |
| Operating profit (loss) | 9901 | €31,198 | €19,861 | -€11,337 | -36.3% |
| Financial income | 75/76B | €9 | €508 | +€500 | +5,806% |
| Recurring financial income | 75 | €9 | €508 | +€500 | +5,806% |
| Other financial income | 752/9 | €9 | €508 | +€500 | +5,806% |
| Financial charges | 65/66B | €4,658 | €3,305 | -€1,352 | -29.0% |
| Recurring financial charges | 65 | €4,658 | €3,305 | -€1,352 | -29.0% |
| Debt charges | 650 | €4,185 | €2,645 | -€1,539 | -36.8% |
| Other financial charges | 652/9 | €473 | €660 | +€187 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €26,549 | €17,064 | -€9,485 | -35.7% |
| Income taxes | 67/77 | €7,447 | €5,016 | -€2,431 | -32.6% |
| Taxes | 670/3 | €7,600 | €5,016 | -€2,584 | -34.0% |
| Tax adjustments and reversals of tax provisions | 77 | €153 | €0 | -€153 | -100% |
| Profit (loss) for the period | 9904 | €19,102 | €12,049 | -€7,053 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,102 | €12,049 | -€7,053 | -36.9% |
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 28 October 2026 via checked.be.