RECYHOLD: what changed
Two fiscal 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.
RECYHOLD
Largest movements
- Tangible fixed assets -€14,596
down €14,596 (-98.8%), from €14,777 to €181
of which Leasing and similar rights: -€14,164
- Receivables within one year -€10,894
no longer reported in 2025 (was €10,894)
- Cash -€6,764
down €6,764 (-37.3%), from €18,114 to €11,350
mainly Current portion of long-term debt (-€58,996) and Trade debts (-€2,079)
- Current portion of long-term debt -€58,996
no longer reported in 2025 (was €58,996)
- Reserves +€21,860
up €21,860 (+5.7%), from €385,073 to €406,932
of which Distributable reserves: +€21,860
- Gross operating margin -€6,147
down €6,147 (-10.9%), from €56,589 to €50,443
- Other operating charges +€1,762
up €1,762 (+455.0%), from €387 to €2,150
- Taxes -€1,513
down €1,513 (-12.8%), from €11,794 to €10,281
- Depreciation -€909
down €909 (-5.9%), from €15,505 to €14,596
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.
Cash bridge derived
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 | €646,122 | €612,143 | -€33,980 | -5.3% |
| Fixed assets | 21/28 | €614,777 | €600,181 | -€14,596 | -2.4% |
| Tangible fixed assets | 22/27 | €14,777 | €181 | -€14,596 | -98.8% |
| Furniture and vehicles | 24 | €613 | €181 | -€432 | -70.4% |
| Leasing and similar rights | 25 | €14,164 | - | -€14,164 | |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €31,345 | €11,962 | -€19,383 | -61.8% |
| Amounts receivable within one year | 40/41 | €10,894 | - | -€10,894 | |
| Other amounts receivable | 41 | €10,894 | - | -€10,894 | |
| Cash at bank and in hand | 54/58 | €18,114 | €11,350 | -€6,764 | -37.3% |
| Deferred charges and accrued income | 490/1 | €2,336 | €612 | -€1,725 | -73.8% |
| Total equity and liabilities | 10/49 | €646,122 | €612,143 | -€33,980 | -5.3% |
| Equity | 10/15 | €425,073 | €446,932 | +€21,860 | +5.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €385,073 | €406,932 | +€21,860 | +5.7% |
| 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 | €381,073 | €402,932 | +€21,860 | +5.7% |
| Amounts payable | 17/49 | €221,050 | €165,211 | -€55,839 | -25.3% |
| Amounts payable after more than one year | 17 | €130,000 | €130,000 | = | 0.0% |
| Financial debts | 170/4 | €130,000 | €130,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €91,050 | €35,211 | -€55,839 | -61.3% |
| Current portion of amounts payable after more than one year | 42 | €58,996 | - | -€58,996 | |
| Trade debts | 44 | €2,948 | €869 | -€2,079 | -70.5% |
| Suppliers | 440/4 | €2,948 | €869 | -€2,079 | -70.5% |
| Taxes, remuneration and social security | 45 | €28,898 | €34,134 | +€5,236 | +18.1% |
| Taxes | 450/3 | €28,898 | €34,134 | +€5,236 | +18.1% |
| Other amounts payable | 47/48 | €208 | €208 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,505 | €14,596 | -€909 | -5.9% |
| Other operating charges | 640/8 | €387 | €2,150 | +€1,762 | +455.0% |
| Gross operating margin | 9900 | €56,589 | €50,443 | -€6,147 | -10.9% |
| Operating profit (loss) | 9901 | €40,697 | €33,697 | -€7,000 | -17.2% |
| Financial charges | 65/66B | €1,657 | €1,556 | -€101 | -6.1% |
| Recurring financial charges | 65 | €1,657 | €1,556 | -€101 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €39,040 | €32,140 | -€6,900 | -17.7% |
| Income taxes | 67/77 | €11,794 | €10,281 | -€1,513 | -12.8% |
| Profit (loss) for the period | 9904 | €27,246 | €21,860 | -€5,387 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,246 | €21,860 | -€5,387 | -19.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.