VABEAU RECYCLING: 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.
VABEAU RECYCLING
Largest movements
- Cash -€45,725
down €45,725 (-10.3%), from €444,783 to €399,058
mainly Other debts (-€71,148) and Short-term financial debts (-€43,333)
- Stocks and contracts -€35,729
down €35,729 (-29.1%), from €122,926 to €87,197
- Other debts -€71,148
down €71,148 (-49.0%), from €145,279 to €74,131
- Short-term financial debts -€43,333
down €43,333 (-33.3%), from €130,000 to €86,667
- Reserves +€20,987
up €20,987 (+4.4%), from €477,214 to €498,201
- Trade debts +€14,645
up €14,645 (+552%), from €2,654 to €17,300
- Gross operating margin -€15,979
down €15,979 (-18.7%), from €85,566 to €69,587
- Financial charges -€8,891
down €8,891 (-46.3%), from €19,213 to €10,322
- Taxes -€3,965
down €3,965 (-28.0%), from €14,149 to €10,184
- Other operating charges +€2,134
up €2,134 (+54.6%), from €3,911 to €6,045
- Financial income -€2,068
down €2,068 (-72.1%), from €2,869 to €802
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 | €1,026,319 | €934,259 | -€92,060 | -9.0% |
| Fixed assets | 21/28 | €451,495 | €444,595 | -€6,900 | -1.5% |
| Tangible fixed assets | 22/27 | €446,495 | €439,595 | -€6,900 | -1.5% |
| Land and buildings | 22 | €412,845 | €397,103 | -€15,742 | -3.8% |
| Plant, machinery and equipment | 23 | €33,650 | €42,492 | +€8,842 | +26.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €574,824 | €489,664 | -€85,160 | -14.8% |
| Stocks and contracts in progress | 3 | €122,926 | €87,197 | -€35,729 | -29.1% |
| Stocks | 30/36 | €122,926 | €87,197 | -€35,729 | -29.1% |
| Amounts receivable within one year | 40/41 | €6,901 | €2,229 | -€4,673 | -67.7% |
| Trade receivables | 40 | €5,564 | €0 | -€5,564 | -100% |
| Other amounts receivable | 41 | €1,338 | €2,229 | +€891 | +66.6% |
| Cash at bank and in hand | 54/58 | €444,783 | €399,058 | -€45,725 | -10.3% |
| Deferred charges and accrued income | 490/1 | €213 | €1,180 | +€967 | +453% |
| Total equity and liabilities | 10/49 | €1,026,319 | €934,259 | -€92,060 | -9.0% |
| Equity | 10/15 | €718,892 | €739,879 | +€20,987 | +2.9% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €477,214 | €498,201 | +€20,987 | +4.4% |
| Distributable reserves | 133 | €477,214 | €498,201 | +€20,987 | +4.4% |
| Profit (loss) carried forward | 14 | €1,678 | €1,678 | = | 0.0% |
| Amounts payable | 17/49 | €307,427 | €194,380 | -€113,047 | -36.8% |
| Amounts payable within one year | 42/48 | €296,178 | €188,281 | -€107,897 | -36.4% |
| Financial debts | 43 | €130,000 | €86,667 | -€43,333 | -33.3% |
| Credit institutions | 430/8 | €130,000 | €86,667 | -€43,333 | -33.3% |
| Trade debts | 44 | €2,654 | €17,300 | +€14,645 | +552% |
| Suppliers | 440/4 | €2,654 | €17,300 | +€14,645 | +552% |
| Advances received on contracts in progress | 46 | €3,840 | €0 | -€3,840 | -100% |
| Taxes, remuneration and social security | 45 | €14,405 | €10,184 | -€4,221 | -29.3% |
| Taxes | 450/3 | €14,405 | €10,184 | -€4,221 | -29.3% |
| Other amounts payable | 47/48 | €145,279 | €74,131 | -€71,148 | -49.0% |
| Accrued charges and deferred income | 492/3 | €11,249 | €6,099 | -€5,150 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,653 | €22,850 | -€803 | -3.4% |
| Other operating charges | 640/8 | €3,911 | €6,045 | +€2,134 | +54.6% |
| Gross operating margin | 9900 | €85,566 | €69,587 | -€15,979 | -18.7% |
| Operating profit (loss) | 9901 | €58,002 | €40,692 | -€17,310 | -29.8% |
| Financial income | 75/76B | €2,869 | €802 | -€2,068 | -72.1% |
| Recurring financial income | 75 | €2,869 | €802 | -€2,068 | -72.1% |
| Financial charges | 65/66B | €19,213 | €10,322 | -€8,891 | -46.3% |
| Recurring financial charges | 65 | €19,213 | €10,322 | -€8,891 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €41,658 | €31,171 | -€10,487 | -25.2% |
| Income taxes | 67/77 | €14,149 | €10,184 | -€3,965 | -28.0% |
| Profit (loss) for the period | 9904 | €27,509 | €20,987 | -€6,522 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,509 | €20,987 | -€6,522 | -23.7% |
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 30 October 2026 via checked.be.