Recyworks: 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.
Recyworks
Largest movements
- Receivables within one year +€1.0m
up €1.0m (+1,383%), from €74,665 to €1.1m
of which Trade receivables: +€971,906
- Cash +€539,149
up €539,149 (+481%), from €112,071 to €651,220
mainly Trade debts (+€1.0m) and Accrued charges and deferred income (+€315,750)
- Tangible fixed assets +€320,988
up €320,988 (+322%), from €99,670 to €420,659
of which Leasing and similar rights: +€218,381
- Trade debts +€1.0m
up €1.0m (+1,551%), from €64,746 to €1.1m
- Accrued charges and deferred income +€315,750
new in 2025: €315,750
- Provisions +€182,298
new in 2025: €182,298
- Debts after one year +€160,493
new in 2025: €160,493
- Reserves +€155,279
up €155,279 (+80.7%), from €192,498 to €347,777
- Gross operating margin +€771,229
up €771,229 (+746%), from €103,393 to €874,623
- Staff costs +€83,676
new in 2025: €83,676
- Depreciation +€51,093
up €51,093 (+3,842%), from €1,330 to €52,423
- Taxes +€14,982
up €14,982 (+89.9%), from €16,662 to €31,643
- Other operating charges -€14,771
down €14,771 (-94.9%), from €15,559 to €788
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 | €286,406 | €2,201,492 | +€1.9m | +669% |
| Fixed assets | 21/28 | €99,670 | €433,761 | +€334,091 | +335% |
| Intangible fixed assets | 21 | - | €13,102 | +€13,102 | |
| Tangible fixed assets | 22/27 | €99,670 | €420,659 | +€320,988 | +322% |
| Plant, machinery and equipment | 23 | - | €136,274 | +€136,274 | |
| Furniture and vehicles | 24 | €99,670 | €66,004 | -€33,667 | -33.8% |
| Leasing and similar rights | 25 | - | €218,381 | +€218,381 | |
| Current assets | 29/58 | €186,736 | €1,767,730 | +€1.6m | +847% |
| Stocks and contracts in progress | 3 | - | €7,673 | +€7,673 | |
| Stocks | 30/36 | - | €7,673 | +€7,673 | |
| Amounts receivable within one year | 40/41 | €74,665 | €1,107,574 | +€1.0m | +1,383% |
| Trade receivables | 40 | €41,801 | €1,013,706 | +€971,906 | +2,325% |
| Other amounts receivable | 41 | €32,864 | €93,867 | +€61,003 | +186% |
| Cash at bank and in hand | 54/58 | €112,071 | €651,220 | +€539,149 | +481% |
| Deferred charges and accrued income | 490/1 | - | €1,265 | +€1,265 | |
| Total equity and liabilities | 10/49 | €286,406 | €2,201,492 | +€1.9m | +669% |
| Equity | 10/15 | €204,998 | €360,277 | +€155,279 | +75.7% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €192,498 | €347,777 | +€155,279 | +80.7% |
| Distributable reserves | 133 | €192,498 | €347,777 | +€155,279 | +80.7% |
| Provisions and deferred taxes | 16 | - | €182,298 | +€182,298 | |
| Provisions for liabilities and charges | 160/5 | - | €182,298 | +€182,298 | |
| Other liabilities and charges | 164/5 | - | €182,298 | +€182,298 | |
| Amounts payable | 17/49 | €81,407 | €1,658,916 | +€1.6m | +1,938% |
| Amounts payable after more than one year | 17 | - | €160,493 | +€160,493 | |
| Financial debts | 170/4 | - | €160,493 | +€160,493 | |
| Amounts payable within one year | 42/48 | €81,407 | €1,182,673 | +€1.1m | +1,353% |
| Current portion of amounts payable after more than one year | 42 | - | €55,211 | +€55,211 | |
| Trade debts | 44 | €64,746 | €1,069,077 | +€1.0m | +1,551% |
| Suppliers | 440/4 | €64,746 | €1,069,077 | +€1.0m | +1,551% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €16,662 | €58,385 | +€41,723 | +250% |
| Taxes | 450/3 | €16,662 | €48,848 | +€32,186 | +193% |
| Remuneration and social security | 454/9 | - | €9,537 | +€9,537 | |
| Accrued charges and deferred income | 492/3 | - | €315,750 | +€315,750 | |
| Non-recurring operating income | 76A | - | €500,000 | +€500,000 | |
| Remuneration, social security and pensions | 62 | - | €83,676 | +€83,676 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,330 | €52,423 | +€51,093 | +3,842% |
| Other operating charges | 640/8 | €15,559 | €788 | -€14,771 | -94.9% |
| Non-recurring operating charges | 66A | - | €539,065 | +€539,065 | |
| Gross operating margin | 9900 | €103,393 | €874,623 | +€771,229 | +746% |
| Operating profit (loss) | 9901 | €86,505 | €198,671 | +€112,166 | +130% |
| Financial income | 75/76B | €176 | €2,803 | +€2,627 | +1,492% |
| Recurring financial income | 75 | €176 | €2,803 | +€2,627 | +1,492% |
| Financial charges | 65/66B | €3,372 | €14,552 | +€11,180 | +332% |
| Recurring financial charges | 65 | €3,372 | €14,552 | +€11,180 | +332% |
| Profit (loss) for the period before taxes | 9903 | €83,309 | €186,922 | +€103,613 | +124% |
| Income taxes | 67/77 | €16,662 | €31,643 | +€14,982 | +89.9% |
| Profit (loss) for the period | 9904 | €66,648 | €155,279 | +€88,631 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €66,648 | €155,279 | +€88,631 | +133% |
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 14 October 2026 via checked.be.