RECYCLINVEST: 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
RECYCLINVEST
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.3m
2024 · €487,409+€1.8m
Equity
€4.2m
2024 · €1.9m+€2.3m
Cash
€316,157
2024 · €242,112+€74,045
Balance sheet total
€13.4m
2024 · €12.3m+€1.1m
Largest movements
Assets
- Current investments +€851,984
new in 2025: €851,984
Equity and liabilities
- Reserves +€2.3m
up €2.3m (+160%), from €1.4m to €3.7m
- Debts after one year -€851,765
down €851,765 (-9.7%), from €8.8m to €7.9m
- Advances received -€256,082
down €256,082 (-100%), from €256,082 to €0
Income statement
- Financial income +€1.8m
up €1.8m, from €0 to €1.8m
- Financial charges +€43,476
up €43,476 (+9.3%), from €468,783 to €512,259
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
€487,409
Gross operating margin
-€2,331
Other operating charges
-€613
Financial income
+€1.8m
Financial charges
-€43,476
Taxes
+€11,047
Result 2025
€2.3m
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
+€1.8m
Investment
-€851,984
Financing
-€830,363
Cash 2024
€242,112
From operations (derived)
+€1.8m
Net result for the year
+€2.3m
Receivables within one year
-€128,100
Trade debts
-€750
Tax, wage and social debts
-€17,978
Advances received
-€256,082
Accrued charges and deferred income
-€95,671
Investment (derived)
-€851,984
Current investments
-€851,984
Financing
-€830,363
Debts after one year
-€851,765
Current portion of long-term debt
+€21,402
Cash 2025
€316,157
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,347,863 | €13,401,992 | +€1.1m | +8.5% |
| Fixed assets | 21/28 | €12,000,000 | €12,000,000 | = | 0.0% |
| Financial fixed assets | 28 | €12,000,000 | €12,000,000 | = | 0.0% |
| Current assets | 29/58 | €347,863 | €1,401,992 | +€1.1m | +303% |
| Amounts receivable within one year | 40/41 | €105,000 | €233,100 | +€128,100 | +122% |
| Trade receivables | 40 | €105,000 | €233,100 | +€128,100 | +122% |
| Current investments | 50/53 | - | €851,984 | +€851,984 | |
| Cash at bank and in hand | 54/58 | €242,112 | €316,157 | +€74,045 | +30.6% |
| Deferred charges and accrued income | 490/1 | €751 | €751 | = | 0.0% |
| Total equity and liabilities | 10/49 | €12,347,863 | €13,401,992 | +€1.1m | +8.5% |
| Equity | 10/15 | €1,906,183 | €4,161,156 | +€2.3m | +118% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €1,406,183 | €3,661,156 | +€2.3m | +160% |
| Distributable reserves | 133 | €1,406,183 | €3,661,156 | +€2.3m | +160% |
| Amounts payable | 17/49 | €10,441,680 | €9,240,836 | -€1.2m | -11.5% |
| Amounts payable after more than one year | 17 | €8,752,212 | €7,900,447 | -€851,765 | -9.7% |
| Financial debts | 170/4 | €8,752,212 | €7,900,447 | -€851,765 | -9.7% |
| Amounts payable within one year | 42/48 | €1,498,126 | €1,244,718 | -€253,408 | -16.9% |
| Current portion of amounts payable after more than one year | 42 | €830,363 | €851,765 | +€21,402 | +2.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €21,115 | €20,364 | -€750 | -3.6% |
| Suppliers | 440/4 | €21,115 | €20,364 | -€750 | -3.6% |
| Advances received on contracts in progress | 46 | €256,082 | €0 | -€256,082 | -100% |
| Taxes, remuneration and social security | 45 | €390,566 | €372,589 | -€17,978 | -4.6% |
| Taxes | 450/3 | €390,566 | €372,589 | -€17,978 | -4.6% |
| Accrued charges and deferred income | 492/3 | €191,342 | €95,671 | -€95,671 | -50.0% |
| Other operating charges | 640/8 | €535 | €1,148 | +€613 | +115% |
| Gross operating margin | 9900 | €1,119,196 | €1,116,865 | -€2,331 | -0.2% |
| Operating profit (loss) | 9901 | €1,118,661 | €1,115,717 | -€2,944 | -0.3% |
| Financial income | 75/76B | €0 | €1,802,937 | +€1.8m | |
| Recurring financial income | 75 | €0 | €1,802,937 | +€1.8m | |
| Financial charges | 65/66B | €468,783 | €512,259 | +€43,476 | +9.3% |
| Recurring financial charges | 65 | €468,783 | €512,259 | +€43,476 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €649,878 | €2,406,395 | +€1.8m | +270% |
| Income taxes | 67/77 | €162,470 | €151,422 | -€11,047 | -6.8% |
| Profit (loss) for the period | 9904 | €487,409 | €2,254,973 | +€1.8m | +363% |
| Profit (loss) for the period to be appropriated | 9905 | €487,409 | €2,254,973 | +€1.8m | +363% |
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 27 October 2026 via checked.be.