TPrécup: 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.
What changed
TPrécup
NACE 38.210, Materials recovery from waste
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€536,069
2024 · €532,795+€3,275
Equity
€6.1m
2024 · €5.8m+€276,828
Cash
€253,343
2024 · €916,877-€663,534
Balance sheet total
€13.4m
2024 · €14.2m-€871,213
Largest movements
Assets
- Cash -€663,534
down €663,534 (-72.4%), from €916,877 to €253,343
mainly Investment in fixed assets (net) (-€1.1m) and Debts after one year (-€540,782)
- Tangible fixed assets -€320,269
down €320,269 (-5.6%), from €5.7m to €5.4m
of which Leasing and similar rights: -€174,289
- Receivables within one year +€195,275
up €195,275 (+6.1%), from €3.2m to €3.4m
of which Trade receivables: +€288,483
Equity and liabilities
- Debts after one year -€540,782
down €540,782 (-13.6%), from €4.0m to €3.4m
- Trade debts -€470,094
down €470,094 (-24.7%), from €1.9m to €1.4m
- Profit (loss) carried forward +€239,149
up €239,149 (+38.1%), from €628,152 to €867,302
- Other debts -€232,465
down €232,465 (-45.6%), from €510,000 to €277,535
- Tax, wage and social debts +€146,066
up €146,066 (+69.8%), from €209,407 to €355,473
of which Remuneration and social security: +€104,128
Income statement
- Gross operating margin +€1.1m
up €1.1m (+33.9%), from €3.2m to €4.3m
- Staff costs +€608,947
up €608,947 (+46.2%), from €1.3m to €1.9m
- Depreciation +€416,684
up €416,684 (+39.4%), from €1.1m to €1.5m
- Financial charges +€49,888
up €49,888 (+37.6%), from €132,585 to €182,473
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.
Result 2024
€532,795
Gross operating margin
+€1.1m
Staff costs
-€608,947
Depreciation
-€416,684
Write-downs
+€24,632
Provisions
-€3,253
Other operating charges
-€33,347
Other operating items
-€5,984
Financial income
+€2,278
Financial charges
-€49,888
Taxes
+€21,791
Deferred taxes and other
-€16,473
Result 2025
€536,069
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.
From operations
+€1.2m
Investment
-€1.1m
Financing
-€780,715
Cash 2024
€916,877
From operations (derived)
+€1.2m
Net result for the year
+€536,069
Depreciation
+€1.5m
Stocks and contracts
-€2,690
Receivables within one year
-€195,275
Deferred charges and accrued income
+€55,383
Provisions
+€16,473
Trade debts
-€470,094
Tax, wage and social debts
+€146,066
Other debts
-€232,465
Accrued charges and deferred income
-€86,547
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
-€780,715
Debts after one year
-€540,782
Current portion of long-term debt
+€19,308
Contributions, distributions and other
-€259,241
Cash 2025
€253,343
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,242,436 | €13,371,223 | -€871,213 | -6.1% |
| Fixed assets | 21/28 | €9,913,753 | €9,563,492 | -€350,262 | -3.5% |
| Intangible fixed assets | 21 | €88,355 | €58,362 | -€29,993 | -33.9% |
| Tangible fixed assets | 22/27 | €5,725,399 | €5,405,130 | -€320,269 | -5.6% |
| Land and buildings | 22 | €1,648,753 | €1,548,901 | -€99,852 | -6.1% |
| Plant, machinery and equipment | 23 | €658,588 | €631,717 | -€26,871 | -4.1% |
| Furniture and vehicles | 24 | €585,404 | €565,880 | -€19,525 | -3.3% |
| Leasing and similar rights | 25 | €2,780,961 | €2,606,673 | -€174,289 | -6.3% |
| Other tangible fixed assets | 26 | €51,692 | €51,960 | +€267 | +0.5% |
| Financial fixed assets | 28 | €4,100,000 | €4,100,000 | = | 0.0% |
| Current assets | 29/58 | €4,328,682 | €3,807,731 | -€520,951 | -12.0% |
| Amounts receivable after more than one year | 29 | €41,000 | €41,000 | = | 0.0% |
| Other amounts receivable | 291 | €41,000 | €41,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €25,310 | €28,000 | +€2,690 | +10.6% |
| Stocks | 30/36 | €25,310 | €28,000 | +€2,690 | +10.6% |
| Amounts receivable within one year | 40/41 | €3,192,741 | €3,388,016 | +€195,275 | +6.1% |
| Trade receivables | 40 | €1,866,351 | €2,154,835 | +€288,483 | +15.5% |
| Other amounts receivable | 41 | €1,326,390 | €1,233,182 | -€93,208 | -7.0% |
| Cash at bank and in hand | 54/58 | €916,877 | €253,343 | -€663,534 | -72.4% |
| Deferred charges and accrued income | 490/1 | €152,754 | €97,371 | -€55,383 | -36.3% |
| Total equity and liabilities | 10/49 | €14,242,436 | €13,371,223 | -€871,213 | -6.1% |
| Equity | 10/15 | €5,833,981 | €6,110,810 | +€276,828 | +4.7% |
| Contributions | 10/11 | €974,368 | €974,368 | = | 0.0% |
| Capital | 10 | €974,368 | €974,368 | = | 0.0% |
| Issued capital | 100 | €974,368 | €974,368 | = | 0.0% |
| Reserves | 13 | €4,197,437 | €4,246,857 | +€49,420 | +1.2% |
| Non-distributable reserves | 130/1 | €4,197,437 | €4,197,437 | = | 0.0% |
| Legal reserve | 130 | €97,437 | €97,437 | = | 0.0% |
| Financial assistance | 1313 | €4,100,000 | €4,100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €49,420 | +€49,420 | |
| Profit (loss) carried forward | 14 | €628,152 | €867,302 | +€239,149 | +38.1% |
| Investment grants | 15 | €34,024 | €22,283 | -€11,741 | -34.5% |
| Provisions and deferred taxes | 16 | €80,000 | €96,473 | +€16,473 | +20.6% |
| Provisions for liabilities and charges | 160/5 | €80,000 | €80,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €80,000 | €80,000 | = | 0.0% |
| Deferred taxes | 168 | - | €16,473 | +€16,473 | |
| Amounts payable | 17/49 | €8,328,454 | €7,163,940 | -€1.2m | -14.0% |
| Amounts payable after more than one year | 17 | €3,974,784 | €3,434,002 | -€540,782 | -13.6% |
| Financial debts | 170/4 | €3,974,784 | €3,434,002 | -€540,782 | -13.6% |
| Amounts payable within one year | 42/48 | €3,842,993 | €3,305,808 | -€537,185 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €1,216,599 | €1,235,907 | +€19,308 | +1.6% |
| Trade debts | 44 | €1,906,987 | €1,436,894 | -€470,094 | -24.7% |
| Suppliers | 440/4 | €1,906,987 | €1,436,894 | -€470,094 | -24.7% |
| Taxes, remuneration and social security | 45 | €209,407 | €355,473 | +€146,066 | +69.8% |
| Taxes | 450/3 | €26,018 | €67,955 | +€41,938 | +161.2% |
| Remuneration and social security | 454/9 | €183,389 | €287,518 | +€104,128 | +56.8% |
| Other amounts payable | 47/48 | €510,000 | €277,535 | -€232,465 | -45.6% |
| Accrued charges and deferred income | 492/3 | €510,678 | €424,131 | -€86,547 | -16.9% |
| Non-recurring operating income | 76A | €246,306 | €93,871 | -€152,435 | -61.9% |
| Remuneration, social security and pensions | 62 | €1,318,526 | €1,927,473 | +€608,947 | +46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,057,126 | €1,473,811 | +€416,684 | +39.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €34,243 | €9,611 | -€24,632 | -71.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,253 | - | +€3,253 | |
| Other operating charges | 640/8 | €155,347 | €188,694 | +€33,347 | +21.5% |
| Non-recurring operating charges | 66A | €3,770 | €9,754 | +€5,984 | +158.7% |
| Gross operating margin | 9900 | €3,211,385 | €4,300,535 | +€1.1m | +33.9% |
| Operating profit (loss) | 9901 | €645,626 | €691,193 | +€45,567 | +7.1% |
| Financial income | 75/76B | €127,767 | €130,045 | +€2,278 | +1.8% |
| Recurring financial income | 75 | €127,767 | €130,045 | +€2,278 | +1.8% |
| Financial charges | 65/66B | €132,585 | €182,473 | +€49,888 | +37.6% |
| Recurring financial charges | 65 | €132,585 | €182,473 | +€49,888 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €640,808 | €638,765 | -€2,043 | -0.3% |
| Transfer from deferred taxes | 780 | - | €1,652 | +€1,652 | |
| Transfer to deferred taxes | 680 | - | €18,125 | +€18,125 | |
| Income taxes | 67/77 | €108,013 | €86,223 | -€21,791 | -20.2% |
| Profit (loss) for the period | 9904 | €532,795 | €536,069 | +€3,275 | +0.6% |
| Transfer from tax-exempt reserves | 789 | - | €4,955 | +€4,955 | |
| Transfer to tax-exempt reserves | 689 | - | €54,375 | +€54,375 | |
| Profit (loss) for the period to be appropriated | 9905 | €532,795 | €486,649 | -€46,145 | -8.7% |
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.