RECYCLO: 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.
RECYCLO
Largest movements
- Cash +€35,375
up €35,375 (+2,137%), from €1,655 to €37,030
mainly Net result for the year (+€110,768) and Receivables within one year (+€24,991)
- Tangible fixed assets +€33,066
up €33,066 (+70.3%), from €47,067 to €80,133
of which Furniture and vehicles: +€35,783
- Receivables within one year -€24,991
down €24,991 (-26.4%), from €94,769 to €69,778
of which Trade receivables: -€24,991
- Deferred charges and accrued income +€3,549
new in 2025: €3,549
- Profit (loss) carried forward +€110,768
up €110,768 (+63.5%), from -€174,543 to -€63,776
- Trade debts -€56,812
down €56,812 (-70.6%), from €80,498 to €23,686
- Investment grants -€18,038
down €18,038 (-33.3%), from €54,114 to €36,076
- Tax, wage and social debts +€15,624
up €15,624 (+38.5%), from €40,548 to €56,171
of which Taxes: +€21,099
- Other debts -€4,540
down €4,540 (-3.7%), from €124,275 to €119,735
- Gross operating margin +€233,083
up €233,083 (+162%), from €144,201 to €377,284
- Staff costs +€90,834
up €90,834 (+51.1%), from €177,831 to €268,664
- Other operating charges -€5,222
down €5,222 (-85.9%), from €6,078 to €856
- Depreciation +€3,997
up €3,997 (+36.5%), from €10,937 to €14,934
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 | €143,491 | €190,491 | +€47,000 | +32.8% |
| Fixed assets | 21/28 | €47,067 | €80,133 | +€33,066 | +70.3% |
| Tangible fixed assets | 22/27 | €47,067 | €80,133 | +€33,066 | +70.3% |
| Plant, machinery and equipment | 23 | €14,145 | €12,048 | -€2,097 | -14.8% |
| Furniture and vehicles | 24 | €29,063 | €64,846 | +€35,783 | +123% |
| Other tangible fixed assets | 26 | €3,859 | €3,239 | -€620 | -16.1% |
| Current assets | 29/58 | €96,424 | €110,358 | +€13,934 | +14.5% |
| Amounts receivable within one year | 40/41 | €94,769 | €69,778 | -€24,991 | -26.4% |
| Trade receivables | 40 | €94,769 | €69,778 | -€24,991 | -26.4% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €1,655 | €37,030 | +€35,375 | +2,137% |
| Deferred charges and accrued income | 490/1 | - | €3,549 | +€3,549 | |
| Total equity and liabilities | 10/49 | €143,491 | €190,491 | +€47,000 | +32.8% |
| Equity | 10/15 | -€101,829 | -€9,100 | +€92,730 | +91.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,543 | -€63,776 | +€110,768 | +63.5% |
| Investment grants | 15 | €54,114 | €36,076 | -€18,038 | -33.3% |
| Amounts payable | 17/49 | €245,320 | €199,591 | -€45,729 | -18.6% |
| Amounts payable within one year | 42/48 | €245,320 | €199,591 | -€45,729 | -18.6% |
| Trade debts | 44 | €80,498 | €23,686 | -€56,812 | -70.6% |
| Suppliers | 440/4 | €80,498 | €23,686 | -€56,812 | -70.6% |
| Taxes, remuneration and social security | 45 | €40,548 | €56,171 | +€15,624 | +38.5% |
| Taxes | 450/3 | €10,512 | €31,611 | +€21,099 | +201% |
| Remuneration and social security | 454/9 | €30,035 | €24,560 | -€5,475 | -18.2% |
| Other amounts payable | 47/48 | €124,275 | €119,735 | -€4,540 | -3.7% |
| Remuneration, social security and pensions | 62 | €177,831 | €268,664 | +€90,834 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,937 | €14,934 | +€3,997 | +36.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,665 | - | -€2,665 | |
| Other operating charges | 640/8 | €6,078 | €856 | -€5,222 | -85.9% |
| Gross operating margin | 9900 | €144,201 | €377,284 | +€233,083 | +162% |
| Operating profit (loss) | 9901 | -€53,308 | €92,830 | +€146,138 | |
| Financial income | 75/76B | €18,038 | €18,038 | -€0 | 0.0% |
| Recurring financial income | 75 | €18,038 | €18,038 | -€0 | 0.0% |
| Financial charges | 65/66B | €544 | €101 | -€443 | -81.5% |
| Recurring financial charges | 65 | €544 | €101 | -€443 | -81.5% |
| Profit (loss) for the period before taxes | 9903 | -€35,814 | €110,768 | +€146,582 | |
| Profit (loss) for the period | 9904 | -€35,814 | €110,768 | +€146,582 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,814 | €110,768 | +€146,582 |
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 19 October 2026 via checked.be.