RECYCLING CVB: 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.
RECYCLING CVB
Largest movements
- Receivables within one year +€1.2m
up €1.2m (+816%), from €152,858 to €1.4m
of which Trade receivables: +€1.4m
- Tangible fixed assets -€159,653
down €159,653 (-8.7%), from €1.8m to €1.7m
of which Land and buildings: -€192,750
- Profit (loss) carried forward +€859,143
up €859,143, from -€120,870 to €738,274
- Other debts +€394,660
up €394,660 (+62.8%), from €628,427 to €1.0m
- Provisions -€271,818
down €271,818 (-64.1%), from €424,093 to €152,276
of which Provisions for liabilities and charges: -€250,000
- Trade debts +€143,848
up €143,848 (+28.0%), from €514,175 to €658,024
- Reserves -€65,453
down €65,453 (-12.4%), from €528,480 to €463,027
of which Tax-exempt reserves: -€65,453
- Gross operating margin +€26,266
up €26,266 (+7.5%), from €351,760 to €378,026
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,036,280 | €3,107,778 | +€1.1m | +52.6% |
| Fixed assets | 21/28 | €1,830,672 | €1,669,187 | -€161,485 | -8.8% |
| Tangible fixed assets | 22/27 | €1,828,330 | €1,668,678 | -€159,653 | -8.7% |
| Land and buildings | 22 | €1,828,330 | €1,635,580 | -€192,750 | -10.5% |
| Furniture and vehicles | 24 | €0 | €33,098 | +€33,098 | +330,976,600% |
| Financial fixed assets | 28 | €2,342 | €510 | -€1,832 | -78.2% |
| Current assets | 29/58 | €205,608 | €1,438,591 | +€1.2m | +600% |
| Amounts receivable within one year | 40/41 | €152,858 | €1,400,695 | +€1.2m | +816% |
| Trade receivables | 40 | €6,782 | €1,398,935 | +€1.4m | +20,528% |
| Other amounts receivable | 41 | €146,077 | €1,760 | -€144,317 | -98.8% |
| Current investments | 50/53 | - | €1,832 | +€1,832 | |
| Cash at bank and in hand | 54/58 | €49,585 | €32,820 | -€16,764 | -33.8% |
| Deferred charges and accrued income | 490/1 | €3,165 | €3,243 | +€79 | +2.5% |
| Total equity and liabilities | 10/49 | €2,036,280 | €3,107,778 | +€1.1m | +52.6% |
| Equity | 10/15 | €469,584 | €1,263,274 | +€793,690 | +169% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €528,480 | €463,027 | -€65,453 | -12.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €522,280 | €456,827 | -€65,453 | -12.5% |
| Profit (loss) carried forward | 14 | -€120,870 | €738,274 | +€859,143 | |
| Provisions and deferred taxes | 16 | €424,093 | €152,276 | -€271,818 | -64.1% |
| Provisions for liabilities and charges | 160/5 | €250,000 | - | -€250,000 | |
| Other liabilities and charges | 164/5 | €250,000 | - | -€250,000 | |
| Deferred taxes | 168 | €174,093 | €152,276 | -€21,818 | -12.5% |
| Amounts payable | 17/49 | €1,142,603 | €1,692,229 | +€549,626 | +48.1% |
| Amounts payable within one year | 42/48 | €1,142,603 | €1,692,229 | +€549,626 | +48.1% |
| Trade debts | 44 | €514,175 | €658,024 | +€143,848 | +28.0% |
| Suppliers | 440/4 | €514,175 | €658,024 | +€143,848 | +28.0% |
| Taxes, remuneration and social security | 45 | - | €11,117 | +€11,117 | |
| Taxes | 450/3 | - | €11,117 | +€11,117 | |
| Other amounts payable | 47/48 | €628,427 | €1,023,088 | +€394,660 | +62.8% |
| Non-recurring operating income | 76A | - | €2,750 | +€2,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,456 | €105,010 | +€3,554 | +3.5% |
| Other operating charges | 640/8 | €29,222 | €31,110 | +€1,888 | +6.5% |
| Gross operating margin | 9900 | €351,760 | €378,026 | +€26,266 | +7.5% |
| Operating profit (loss) | 9901 | €221,082 | €241,906 | +€20,823 | +9.4% |
| Financial charges | 65/66B | €1,641 | €2,194 | +€553 | +33.7% |
| Recurring financial charges | 65 | €1,641 | €1,494 | -€147 | -8.9% |
| Non-recurring financial charges | 66B | - | €700 | +€700 | |
| Profit (loss) for the period before taxes | 9903 | €219,442 | €239,712 | +€20,270 | +9.2% |
| Transfer from deferred taxes | 780 | €10,909 | €10,909 | = | 0.0% |
| Income taxes | 67/77 | €320 | €500 | +€180 | +56.1% |
| Profit (loss) for the period | 9904 | €230,030 | €250,120 | +€20,090 | +8.7% |
| Transfer from tax-exempt reserves | 789 | €32,727 | €32,727 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €262,757 | €282,847 | +€20,090 | +7.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 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.