TRADECOWALL: 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
TRADECOWALL
NACE 38.330, Waste collection, recovery and disposal activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€908,287
2024 · €620,646+€287,641
Equity
€6.4m
2024 · €5.6m+€829,073
Cash
€1.6m
2024 · €1.0m+€600,698
Balance sheet total
€14.3m
2024 · €12.2m+€2.0m
Largest movements
Assets
- Receivables within one year +€1.5m
up €1.5m (+70.9%), from €2.2m to €3.7m
of which Trade receivables: +€1.8m
- Cash +€600,698
up €600,698 (+58.8%), from €1.0m to €1.6m
mainly Depreciation (+€1.5m) and Trade debts (+€1.2m)
- Tangible fixed assets -€148,604
down €148,604 (-2.8%), from €5.4m to €5.2m
of which Plant, machinery and equipment: -€213,465
Equity and liabilities
- Trade debts +€1.2m
up €1.2m (+67.0%), from €1.8m to €3.0m
of which Suppliers: +€1.2m
- Reserves +€820,407
up €820,407 (+26.1%), from €3.1m to €4.0m
of which Distributable reserves: +€790,920
- Tax, wage and social debts +€162,397
up €162,397 (+38.1%), from €426,514 to €588,911
of which Taxes: +€223,757
Income statement
- Goods and materials -€1.2m
down €1.2m (-36.0%), from €3.5m to €2.2m
- Turnover -€1.1m
down €1.1m (-8.3%), from €12.8m to €11.8m
- Services and other goods -€835,774
down €835,774 (-17.2%), from €4.9m to €4.0m
- Staff costs +€258,941
up €258,941 (+8.3%), from €3.1m to €3.4m
- Depreciation +€217,548
up €217,548 (+17.0%), from €1.3m to €1.5m
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
€620,646
Turnover
-€1.1m
Other operating income
-€50,122
Goods and materials
+€1.2m
Services and other goods
+€835,774
Staff costs
-€258,941
Depreciation
-€217,548
Write-downs
-€1,349
Provisions
-€58,629
Other operating charges
-€19,991
Other operating items
+€5,956
Financial income
-€16,611
Financial charges
-€11,928
Taxes
-€128,514
Deferred taxes and other
+€20,122
Result 2025
€908,287
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
+€2.0m
Investment
-€1.4m
Financing
-€28,889
Cash 2024
€1.0m
From operations (derived)
+€2.0m
Net result for the year
+€908,287
Depreciation
+€1.5m
Stocks and contracts
-€33,368
Receivables within one year
-€1.5m
Deferred charges and accrued income
+€5,668
Provisions
-€76,915
Trade debts
+€1.2m
Tax, wage and social debts
+€162,397
Other debts
-€111,945
Accrued charges and deferred income
-€32,200
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.3m
Current investments
-€48,492
Financing
-€28,889
Debts after one year
-€43,205
Current portion of long-term debt
+€93,530
Contributions, distributions and other
-€79,214
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,242,504 | €14,285,676 | +€2.0m | +16.7% |
| Fixed assets | 21/28 | €6,848,947 | €6,680,931 | -€168,016 | -2.5% |
| Intangible fixed assets | 21 | €69,821 | €50,409 | -€19,413 | -27.8% |
| Tangible fixed assets | 22/27 | €5,365,525 | €5,216,921 | -€148,604 | -2.8% |
| Land and buildings | 22 | €1,891,442 | €1,828,930 | -€62,512 | -3.3% |
| Plant, machinery and equipment | 23 | €1,821,771 | €1,608,306 | -€213,465 | -11.7% |
| Furniture and vehicles | 24 | €43,927 | €43,796 | -€131 | -0.3% |
| Leasing and similar rights | 25 | €1,608,384 | €1,735,888 | +€127,504 | +7.9% |
| Financial fixed assets | 28 | €1,413,601 | €1,413,601 | = | 0.0% |
| Affiliated companies | 280/1 | €296,692 | €296,692 | = | 0.0% |
| Participating interests | 280 | €296,692 | €296,692 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €788,911 | €788,911 | = | 0.0% |
| Participating interests | 282 | €788,911 | €788,911 | = | 0.0% |
| Other financial fixed assets | 284/8 | €327,999 | €327,999 | = | 0.0% |
| Shares | 284 | €20,399 | €20,399 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €307,600 | €307,600 | = | 0.0% |
| Current assets | 29/58 | €5,393,557 | €7,604,745 | +€2.2m | +41.0% |
| Stocks and contracts in progress | 3 | €4,359 | €37,727 | +€33,368 | +765.5% |
| Stocks | 30/36 | €4,359 | €37,727 | +€33,368 | +765.5% |
| Finished goods | 33 | €4,359 | €37,727 | +€33,368 | +765.5% |
| Amounts receivable within one year | 40/41 | €2,164,413 | €3,698,712 | +€1.5m | +70.9% |
| Trade receivables | 40 | €1,726,122 | €3,562,859 | +€1.8m | +106.4% |
| Other amounts receivable | 41 | €438,291 | €135,853 | -€302,439 | -69.0% |
| Current investments | 50/53 | €2,046,210 | €2,094,702 | +€48,492 | +2.4% |
| Other investments | 51/53 | €2,046,210 | €2,094,702 | +€48,492 | +2.4% |
| Cash at bank and in hand | 54/58 | €1,021,685 | €1,622,383 | +€600,698 | +58.8% |
| Deferred charges and accrued income | 490/1 | €156,890 | €151,222 | -€5,668 | -3.6% |
| Total equity and liabilities | 10/49 | €12,242,504 | €14,285,676 | +€2.0m | +16.7% |
| Equity | 10/15 | €5,558,850 | €6,387,923 | +€829,073 | +14.9% |
| Contributions | 10/11 | €2,359,325 | €2,370,246 | +€10,921 | +0.5% |
| Reserves | 13 | €3,141,738 | €3,962,145 | +€820,407 | +26.1% |
| Non-distributable reserves | 130/1 | €46,705 | €46,705 | = | 0.0% |
| Reserves not available under the articles | 1311 | €46,705 | €46,705 | = | 0.0% |
| Tax-exempt reserves | 132 | €201,361 | €230,848 | +€29,486 | +14.6% |
| Distributable reserves | 133 | €2,893,671 | €3,684,592 | +€790,920 | +27.3% |
| Investment grants | 15 | €57,788 | €55,533 | -€2,255 | -3.9% |
| Provisions and deferred taxes | 16 | €1,708,612 | €1,631,697 | -€76,915 | -4.5% |
| Provisions for liabilities and charges | 160/5 | €1,641,492 | €1,554,748 | -€86,744 | -5.3% |
| Other liabilities and charges | 164/5 | €1,641,492 | €1,554,748 | -€86,744 | -5.3% |
| Deferred taxes | 168 | €67,120 | €76,949 | +€9,829 | +14.6% |
| Amounts payable | 17/49 | €4,975,042 | €6,266,056 | +€1.3m | +25.9% |
| Amounts payable after more than one year | 17 | €1,677,954 | €1,634,749 | -€43,205 | -2.6% |
| Financial debts | 170/4 | €1,677,954 | €1,634,749 | -€43,205 | -2.6% |
| Leasing and similar obligations | 172 | €1,188,737 | €1,247,408 | +€58,671 | +4.9% |
| Credit institutions | 173 | €249,217 | €147,341 | -€101,877 | -40.9% |
| Other loans | 174 | €240,000 | €240,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,244,124 | €4,610,543 | +€1.4m | +42.1% |
| Current portion of amounts payable after more than one year | 42 | €692,190 | €785,721 | +€93,530 | +13.5% |
| Trade debts | 44 | €1,823,307 | €3,045,744 | +€1.2m | +67.0% |
| Suppliers | 440/4 | €1,823,307 | €3,009,590 | +€1.2m | +65.1% |
| Bills of exchange payable | 441 | - | €36,153 | +€36,153 | |
| Taxes, remuneration and social security | 45 | €426,514 | €588,911 | +€162,397 | +38.1% |
| Taxes | 450/3 | €34,535 | €258,292 | +€223,757 | +647.9% |
| Remuneration and social security | 454/9 | €391,979 | €330,619 | -€61,360 | -15.7% |
| Other amounts payable | 47/48 | €302,113 | €190,168 | -€111,945 | -37.1% |
| Accrued charges and deferred income | 492/3 | €52,964 | €20,764 | -€32,200 | -60.8% |
| Operating income | 70/76A | €13,654,334 | €12,552,099 | -€1.1m | -8.1% |
| Turnover | 70 | €12,814,555 | €11,756,026 | -€1.1m | -8.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€44,659 | €33,368 | +€78,027 | |
| Other operating income | 74 | €656,335 | €606,213 | -€50,122 | -7.6% |
| Non-recurring operating income | 76A | €228,104 | €156,493 | -€71,612 | -31.4% |
| Operating charges | 60/66A | €12,844,422 | €11,317,615 | -€1.5m | -11.9% |
| Goods for resale, raw materials and consumables | 60 | €3,468,688 | €2,220,739 | -€1.2m | -36.0% |
| Purchases | 600/8 | €3,468,688 | €2,220,739 | -€1.2m | -36.0% |
| Services and other goods | 61 | €4,865,948 | €4,030,173 | -€835,774 | -17.2% |
| Remuneration, social security and pensions | 62 | €3,111,882 | €3,370,823 | +€258,941 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,277,152 | €1,494,699 | +€217,548 | +17.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,489 | €8,838 | +€1,349 | +18.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€145,373 | -€86,744 | +€58,629 | +40.3% |
| Other operating charges | 640/8 | €253,009 | €273,000 | +€19,991 | +7.9% |
| Non-recurring operating charges | 66A | €5,628 | €6,087 | +€459 | +8.2% |
| Operating profit (loss) | 9901 | €809,912 | €1,234,484 | +€424,572 | +52.4% |
| Financial income | 75/76B | €90,945 | €74,334 | -€16,611 | -18.3% |
| Recurring financial income | 75 | €90,945 | €74,334 | -€16,611 | -18.3% |
| Income from financial fixed assets | 750 | €79,759 | €64,087 | -€15,671 | -19.6% |
| Income from current assets | 751 | €7,929 | €7,989 | +€60 | +0.8% |
| Other financial income | 752/9 | €3,258 | €2,258 | -€999 | -30.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €107,993 | €119,921 | +€11,928 | +11.0% |
| Recurring financial charges | 65 | €107,993 | €119,921 | +€11,928 | +11.0% |
| Debt charges | 650 | €104,475 | €113,435 | +€8,960 | +8.6% |
| Other financial charges | 652/9 | €3,518 | €6,486 | +€2,967 | +84.3% |
| Profit (loss) for the period before taxes | 9903 | €792,864 | €1,188,897 | +€396,033 | +49.9% |
| Transfer from deferred taxes | 780 | €16,473 | €29,055 | +€12,582 | +76.4% |
| Transfer to deferred taxes | 680 | €46,424 | €38,884 | -€7,540 | -16.2% |
| Income taxes | 67/77 | €142,268 | €270,782 | +€128,514 | +90.3% |
| Taxes | 670/3 | €142,268 | €281,630 | +€139,362 | +98.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €10,848 | +€10,848 | |
| Profit (loss) for the period | 9904 | €620,646 | €908,287 | +€287,641 | +46.3% |
| Transfer from tax-exempt reserves | 789 | €49,419 | €87,166 | +€37,747 | +76.4% |
| Transfer to tax-exempt reserves | 689 | €139,272 | €116,652 | -€22,620 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €530,792 | €878,800 | +€348,008 | +65.6% |
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.