RECYWAT: 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.
RECYWAT
Largest movements
- Receivables within one year +€109,025
up €109,025 (+577%), from €18,904 to €127,929
- Tangible fixed assets -€106,883
down €106,883 (-14.8%), from €719,910 to €613,028
of which Plant, machinery and equipment: -€100,079
- Stocks and contracts -€12,499
down €12,499 (-43.0%), from €29,048 to €16,549
- Deferred charges and accrued income +€11,069
up €11,069 (+732%), from €1,511 to €12,580
- Cash +€10,006
up €10,006 (+51.7%), from €19,357 to €29,362
mainly Trade debts (+€184,190) and Depreciation (+€135,661)
- Trade debts +€184,190
up €184,190 (+408%), from €45,106 to €229,297
- Debts after one year -€173,129
down €173,129 (-26.3%), from €659,109 to €485,980
- Profit (loss) carried forward -€121,884
down €121,884 (-974%), from -€12,516 to -€134,400
- Current portion of long-term debt +€74,978
up €74,978 (+108%), from €69,262 to €144,240
- Other debts +€40,000
up €40,000 (+400%), from €10,000 to €50,000
- Gross operating margin -€40,566
down €40,566 (-25.0%), from €162,544 to €121,977
- Staff costs +€33,258
up €33,258 (+95.5%), from €34,843 to €68,101
- Depreciation +€32,416
up €32,416 (+31.4%), from €103,245 to €135,661
- Write-downs -€11,899
no longer reported in 2025 (was €11,899)
- Provisions +€9,163
new in 2025: €9,163
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 | €788,854 | €799,572 | +€10,719 | +1.4% |
| Fixed assets | 21/28 | €720,034 | €613,152 | -€106,883 | -14.8% |
| Tangible fixed assets | 22/27 | €719,910 | €613,028 | -€106,883 | -14.8% |
| Plant, machinery and equipment | 23 | €421,279 | €321,200 | -€100,079 | -23.8% |
| Furniture and vehicles | 24 | €1,596 | €935 | -€661 | -41.4% |
| Leasing and similar rights | 25 | €16,130 | €12,237 | -€3,893 | -24.1% |
| Other tangible fixed assets | 26 | €280,905 | €278,655 | -€2,250 | -0.8% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €68,819 | €186,421 | +€117,601 | +171% |
| Stocks and contracts in progress | 3 | €29,048 | €16,549 | -€12,499 | -43.0% |
| Stocks | 30/36 | €29,048 | €16,549 | -€12,499 | -43.0% |
| Amounts receivable within one year | 40/41 | €18,904 | €127,929 | +€109,025 | +577% |
| Trade receivables | 40 | €18,904 | €127,929 | +€109,025 | +577% |
| Cash at bank and in hand | 54/58 | €19,357 | €29,362 | +€10,006 | +51.7% |
| Deferred charges and accrued income | 490/1 | €1,511 | €12,580 | +€11,069 | +732% |
| Total equity and liabilities | 10/49 | €788,854 | €799,572 | +€10,719 | +1.4% |
| Equity | 10/15 | -€2,516 | -€124,400 | -€121,884 | -4,845% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,516 | -€134,400 | -€121,884 | -974% |
| Provisions and deferred taxes | 16 | - | €9,163 | +€9,163 | |
| Provisions for liabilities and charges | 160/5 | - | €9,163 | +€9,163 | |
| Environmental obligations | 163 | - | €9,163 | +€9,163 | |
| Amounts payable | 17/49 | €791,369 | €914,810 | +€123,441 | +15.6% |
| Amounts payable after more than one year | 17 | €659,109 | €485,980 | -€173,129 | -26.3% |
| Financial debts | 170/4 | €659,109 | €485,980 | -€173,129 | -26.3% |
| Amounts payable within one year | 42/48 | €132,260 | €428,829 | +€296,569 | +224% |
| Current portion of amounts payable after more than one year | 42 | €69,262 | €144,240 | +€74,978 | +108% |
| Trade debts | 44 | €45,106 | €229,297 | +€184,190 | +408% |
| Suppliers | 440/4 | €45,106 | €229,297 | +€184,190 | +408% |
| Taxes, remuneration and social security | 45 | €7,892 | €5,293 | -€2,599 | -32.9% |
| Taxes | 450/3 | €5,492 | €3,451 | -€2,041 | -37.2% |
| Remuneration and social security | 454/9 | €2,400 | €1,842 | -€558 | -23.3% |
| Other amounts payable | 47/48 | €10,000 | €50,000 | +€40,000 | +400% |
| Remuneration, social security and pensions | 62 | €34,843 | €68,101 | +€33,258 | +95.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,245 | €135,661 | +€32,416 | +31.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,899 | - | -€11,899 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €9,163 | +€9,163 | |
| Other operating charges | 640/8 | €1,019 | €248 | -€771 | -75.7% |
| Gross operating margin | 9900 | €162,544 | €121,977 | -€40,566 | -25.0% |
| Operating profit (loss) | 9901 | €11,538 | -€91,195 | -€102,733 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €24,053 | €30,689 | +€6,636 | +27.6% |
| Recurring financial charges | 65 | €24,053 | €30,689 | +€6,636 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | -€12,516 | -€121,884 | -€109,369 | -874% |
| Profit (loss) for the period | 9904 | -€12,516 | -€121,884 | -€109,369 | -874% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,516 | -€121,884 | -€109,369 | -874% |
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 22 October 2026 via checked.be.