RECYPAC: 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.
RECYPAC
Largest movements
- Receivables within one year +€155,457
up €155,457 (+34.0%), from €457,061 to €612,518
of which Trade receivables: +€155,457
- Tangible fixed assets -€81,805
down €81,805 (-27.3%), from €299,559 to €217,754
of which Plant, machinery and equipment: -€48,830
- Trade debts +€201,855
up €201,855 (+69.3%), from €291,241 to €493,096
- Debts after one year -€91,324
down €91,324 (-36.4%), from €250,597 to €159,273
- Current portion of long-term debt -€38,179
down €38,179 (-27.8%), from €137,141 to €98,962
- Profit (loss) carried forward +€19,263
up €19,263 (+10.6%), from €181,631 to €200,894
- Staff costs -€82,990
down €82,990 (-35.0%), from €237,127 to €154,137
- Gross operating margin -€72,115
down €72,115 (-19.9%), from €362,069 to €289,954
- Depreciation -€14,617
down €14,617 (-13.9%), from €104,998 to €90,381
- Other operating charges +€8,256
up €8,256 (+71.3%), from €11,582 to €19,838
- Taxes +€7,866
up €7,866 (+4220.1%), from €186 to €8,053
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 | €946,101 | €1,029,875 | +€83,774 | +8.9% |
| Fixed assets | 21/28 | €299,609 | €217,804 | -€81,805 | -27.3% |
| Tangible fixed assets | 22/27 | €299,559 | €217,754 | -€81,805 | -27.3% |
| Land and buildings | 22 | €153,481 | €133,222 | -€20,259 | -13.2% |
| Plant, machinery and equipment | 23 | €108,330 | €59,499 | -€48,830 | -45.1% |
| Furniture and vehicles | 24 | €37,748 | €25,033 | -€12,715 | -33.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €646,492 | €812,071 | +€165,579 | +25.6% |
| Stocks and contracts in progress | 3 | €54,329 | €60,889 | +€6,560 | +12.1% |
| Stocks | 30/36 | €54,329 | €60,889 | +€6,560 | +12.1% |
| Amounts receivable within one year | 40/41 | €457,061 | €612,518 | +€155,457 | +34.0% |
| Trade receivables | 40 | €397,061 | €552,518 | +€155,457 | +39.2% |
| Other amounts receivable | 41 | €60,000 | €60,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €98,100 | €96,525 | -€1,575 | -1.6% |
| Deferred charges and accrued income | 490/1 | €37,003 | €42,139 | +€5,136 | +13.9% |
| Total equity and liabilities | 10/49 | €946,101 | €1,029,875 | +€83,774 | +8.9% |
| Equity | 10/15 | €207,258 | €222,894 | +€15,636 | +7.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Other | 1319 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €181,631 | €200,894 | +€19,263 | +10.6% |
| Investment grants | 15 | €3,627 | - | -€3,627 | |
| Amounts payable | 17/49 | €738,842 | €806,981 | +€68,139 | +9.2% |
| Amounts payable after more than one year | 17 | €250,597 | €159,273 | -€91,324 | -36.4% |
| Financial debts | 170/4 | €250,597 | €159,273 | -€91,324 | -36.4% |
| Amounts payable within one year | 42/48 | €488,245 | €647,708 | +€159,462 | +32.7% |
| Current portion of amounts payable after more than one year | 42 | €137,141 | €98,962 | -€38,179 | -27.8% |
| Trade debts | 44 | €291,241 | €493,096 | +€201,855 | +69.3% |
| Suppliers | 440/4 | €291,241 | €493,096 | +€201,855 | +69.3% |
| Taxes, remuneration and social security | 45 | €39,569 | €36,153 | -€3,417 | -8.6% |
| Taxes | 450/3 | €10,439 | €20,384 | +€9,945 | +95.3% |
| Remuneration and social security | 454/9 | €29,131 | €15,769 | -€13,362 | -45.9% |
| Other amounts payable | 47/48 | €20,293 | €19,496 | -€797 | -3.9% |
| Non-recurring operating income | 76A | €42,491 | - | -€42,491 | |
| Remuneration, social security and pensions | 62 | €237,127 | €154,137 | -€82,990 | -35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,998 | €90,381 | -€14,617 | -13.9% |
| Other operating charges | 640/8 | €11,582 | €19,838 | +€8,256 | +71.3% |
| Non-recurring operating charges | 66A | €4,784 | - | -€4,784 | |
| Gross operating margin | 9900 | €362,069 | €289,954 | -€72,115 | -19.9% |
| Operating profit (loss) | 9901 | €3,578 | €25,598 | +€22,020 | +615.4% |
| Financial income | 75/76B | €8,058 | €7,152 | -€906 | -11.2% |
| Recurring financial income | 75 | €8,058 | €7,152 | -€906 | -11.2% |
| Financial charges | 65/66B | €7,534 | €5,434 | -€2,099 | -27.9% |
| Recurring financial charges | 65 | €7,534 | €5,434 | -€2,099 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €4,102 | €27,315 | +€23,213 | +565.9% |
| Income taxes | 67/77 | €186 | €8,053 | +€7,866 | +4220.1% |
| Profit (loss) for the period | 9904 | €3,916 | €19,263 | +€15,347 | +391.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,916 | €19,263 | +€15,347 | +391.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.