RECYMAT: 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.
RECYMAT
Largest movements
- Receivables within one year +€155,092
up €155,092 (+23.2%), from €669,924 to €825,017
of which Other amounts receivable: +€90,630
- Cash +€80,565
up €80,565 (+169.4%), from €47,566 to €128,131
mainly Depreciation (+€620,406) and Net result for the year (+€172,192)
- Tangible fixed assets -€58,353
down €58,353 (-2.1%), from €2.8m to €2.7m
of which Leasing and similar rights: -€189,277
- Current portion of long-term debt +€87,198
up €87,198 (+14.3%), from €609,946 to €697,144
- Profit (loss) carried forward +€87,192
up €87,192 (+17.0%), from €513,692 to €600,884
- Debts after one year -€76,418
down €76,418 (-5.0%), from €1.5m to €1.5m
of which Financial debts: -€76,418
- Tax, wage and social debts +€56,367
up €56,367 (+97.3%), from €57,932 to €114,300
of which Taxes: +€40,442
- Gross operating margin +€126,955
up €126,955 (+9.3%), from €1.4m to €1.5m
- Depreciation +€48,945
up €48,945 (+8.6%), from €571,461 to €620,406
- Taxes +€41,326
new in 2025: €41,326
- Staff costs +€17,583
up €17,583 (+3.3%), from €524,905 to €542,488
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 | €3,657,541 | €3,820,606 | +€163,065 | +4.5% |
| Fixed assets | 21/28 | €2,804,845 | €2,746,628 | -€58,218 | -2.1% |
| Tangible fixed assets | 22/27 | €2,799,305 | €2,740,953 | -€58,353 | -2.1% |
| Plant, machinery and equipment | 23 | €59,994 | €47,543 | -€12,451 | -20.8% |
| Furniture and vehicles | 24 | €398,926 | €499,025 | +€100,100 | +25.1% |
| Leasing and similar rights | 25 | €2,340,385 | €2,151,108 | -€189,277 | -8.1% |
| Other tangible fixed assets | 26 | - | €43,276 | +€43,276 | |
| Financial fixed assets | 28 | €5,540 | €5,675 | +€135 | +2.4% |
| Current assets | 29/58 | €852,696 | €1,073,979 | +€221,283 | +26.0% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €54,526 | €52,700 | -€1,827 | -3.4% |
| Stocks | 30/36 | €54,526 | €52,700 | -€1,827 | -3.4% |
| Amounts receivable within one year | 40/41 | €669,924 | €825,017 | +€155,092 | +23.2% |
| Trade receivables | 40 | €585,322 | €649,785 | +€64,463 | +11.0% |
| Other amounts receivable | 41 | €84,602 | €175,232 | +€90,630 | +107.1% |
| Cash at bank and in hand | 54/58 | €47,566 | €128,131 | +€80,565 | +169.4% |
| Deferred charges and accrued income | 490/1 | €55,679 | €43,131 | -€12,548 | -22.5% |
| Total equity and liabilities | 10/49 | €3,657,541 | €3,820,606 | +€163,065 | +4.5% |
| Equity | 10/15 | €532,327 | €619,519 | +€87,192 | +16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35 | €35 | = | 0.0% |
| Distributable reserves | 133 | €35 | €35 | = | 0.0% |
| Profit (loss) carried forward | 14 | €513,692 | €600,884 | +€87,192 | +17.0% |
| Amounts payable | 17/49 | €3,125,214 | €3,201,087 | +€75,873 | +2.4% |
| Amounts payable after more than one year | 17 | €1,528,118 | €1,451,700 | -€76,418 | -5.0% |
| Financial debts | 170/4 | €1,518,118 | €1,441,700 | -€76,418 | -5.0% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,597,096 | €1,749,387 | +€152,291 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €609,946 | €697,144 | +€87,198 | +14.3% |
| Financial debts | 43 | €98,000 | €81,300 | -€16,700 | -17.0% |
| Credit institutions | 430/8 | €98,000 | €81,300 | -€16,700 | -17.0% |
| Trade debts | 44 | €739,217 | €752,326 | +€13,109 | +1.8% |
| Suppliers | 440/4 | €739,217 | €752,326 | +€13,109 | +1.8% |
| Taxes, remuneration and social security | 45 | €57,932 | €114,300 | +€56,367 | +97.3% |
| Taxes | 450/3 | €3,636 | €44,078 | +€40,442 | +1112.2% |
| Remuneration and social security | 454/9 | €54,296 | €70,222 | +€15,926 | +29.3% |
| Other amounts payable | 47/48 | €92,000 | €104,318 | +€12,318 | +13.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €5,974 | +€5,974 | |
| Remuneration, social security and pensions | 62 | €524,905 | €542,488 | +€17,583 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €571,461 | €620,406 | +€48,945 | +8.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,049 | +€5,049 | |
| Other operating charges | 640/8 | €17,546 | €20,518 | +€2,972 | +16.9% |
| Gross operating margin | 9900 | €1,362,272 | €1,489,226 | +€126,955 | +9.3% |
| Operating profit (loss) | 9901 | €248,360 | €300,765 | +€52,406 | +21.1% |
| Financial income | 75/76B | €374 | €1,723 | +€1,350 | +361.3% |
| Recurring financial income | 75 | €374 | €1,723 | +€1,350 | +361.3% |
| Financial charges | 65/66B | €84,130 | €88,970 | +€4,840 | +5.8% |
| Recurring financial charges | 65 | €84,130 | €88,970 | +€4,840 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €164,603 | €213,518 | +€48,915 | +29.7% |
| Income taxes | 67/77 | - | €41,326 | +€41,326 | |
| Profit (loss) for the period | 9904 | €164,603 | €172,192 | +€7,589 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €164,603 | €172,192 | +€7,589 | +4.6% |
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 11 October 2026 via checked.be.