VRS Recycling: what changed
What changed
VRS Recycling
NACE 46.649, Wholesale of other machinery and equipment
filed annual accounts (NBB)
Net result for the year
€25,110
2024 · €174,403-€149,293
Equity
€1.0m
2024 · €983,209+€25,110
Cash
€609,219
2024 · €315,210+€294,009
Balance sheet total
€3.9m
2024 · €2.8m+€1.1m
Largest movements
Assets
- Receivables within one year +€688,158
up €688,158 (+44.0%), from €1.6m to €2.3m
of which Trade receivables: +€837,373
- Cash +€294,009
up €294,009 (+93.3%), from €315,210 to €609,219
mainly Trade debts (+€691,798) and Short-term financial debts (+€198,716)
- Stocks and contracts +€55,900
up €55,900 (+9.2%), from €610,702 to €666,602
Equity and liabilities
- Trade debts +€691,798
up €691,798 (+56.5%), from €1.2m to €1.9m
- Short-term financial debts +€198,716
up €198,716 (+250%), from €79,583 to €278,299
- Tax, wage and social debts +€188,086
up €188,086 (+85.3%), from €220,423 to €408,509
of which Taxes: +€168,036
- Debts after one year -€59,196
down €59,196 (-29.2%), from €202,691 to €143,495
Income statement
- Staff costs +€89,545
up €89,545 (+27.2%), from €329,504 to €419,049
- Gross operating margin -€80,116
down €80,116 (-14.1%), from €566,298 to €486,182
- Taxes -€46,834
down €46,834 (-78.7%), from €59,519 to €12,685
- Financial income -€16,721
down €16,721 (-100%), from €16,721 to €0
- Financial charges +€8,285
up €8,285 (+55.3%), from €14,985 to €23,270
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€174,403
Gross operating margin
-€80,116
Staff costs
-€89,545
Other operating charges
-€1,460
Financial income
-€16,721
Financial charges
-€8,285
Taxes
+€46,834
Result 2025
€25,110
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€151,848
Investment
€0
Financing
+€142,161
Cash 2024
€315,210
From operations (derived)
+€151,848
Net result for the year
+€25,110
Depreciation
+€3,213
Receivables after one year
-€25,000
Stocks and contracts
-€55,900
Receivables within one year
-€688,158
Trade debts
+€691,798
Tax, wage and social debts
+€188,086
Other debts
-€11,000
Accrued charges and deferred income
+€23,700
Financing
+€142,161
Debts after one year
-€59,196
Current portion of long-term debt
+€2,641
Short-term financial debts
+€198,716
Cash 2025
€609,219
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,801,363 | €3,861,218 | +€1.1m | +37.8% |
| Fixed assets | 21/28 | €11,899 | €8,686 | -€3,213 | -27.0% |
| Tangible fixed assets | 22/27 | €11,899 | €8,686 | -€3,213 | -27.0% |
| Furniture and vehicles | 24 | €11,899 | €8,686 | -€3,213 | -27.0% |
| Current assets | 29/58 | €2,789,464 | €3,852,532 | +€1.1m | +38.1% |
| Amounts receivable after more than one year | 29 | €300,000 | €325,000 | +€25,000 | +8.3% |
| Other amounts receivable | 291 | €300,000 | €325,000 | +€25,000 | +8.3% |
| Stocks and contracts in progress | 3 | €610,702 | €666,602 | +€55,900 | +9.2% |
| Stocks | 30/36 | €610,702 | €666,602 | +€55,900 | +9.2% |
| Amounts receivable within one year | 40/41 | €1,563,553 | €2,251,711 | +€688,158 | +44.0% |
| Trade receivables | 40 | €929,036 | €1,766,410 | +€837,373 | +90.1% |
| Other amounts receivable | 41 | €634,516 | €485,301 | -€149,215 | -23.5% |
| Cash at bank and in hand | 54/58 | €315,210 | €609,219 | +€294,009 | +93.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,801,363 | €3,861,218 | +€1.1m | +37.8% |
| Equity | 10/15 | €983,209 | €1,008,319 | +€25,110 | +2.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €958,209 | €983,319 | +€25,110 | +2.6% |
| Distributable reserves | 133 | €958,209 | €983,319 | +€25,110 | +2.6% |
| Amounts payable | 17/49 | €1,818,154 | €2,852,899 | +€1.0m | +56.9% |
| Amounts payable after more than one year | 17 | €202,691 | €143,495 | -€59,196 | -29.2% |
| Financial debts | 170/4 | €202,691 | €143,495 | -€59,196 | -29.2% |
| Amounts payable within one year | 42/48 | €1,615,464 | €2,685,704 | +€1.1m | +66.2% |
| Current portion of amounts payable after more than one year | 42 | €56,555 | €59,196 | +€2,641 | +4.7% |
| Financial debts | 43 | €79,583 | €278,299 | +€198,716 | +250% |
| Credit institutions | 430/8 | €79,583 | €278,299 | +€198,716 | +250% |
| Trade debts | 44 | €1,224,519 | €1,916,317 | +€691,798 | +56.5% |
| Suppliers | 440/4 | €1,224,519 | €1,916,317 | +€691,798 | +56.5% |
| Taxes, remuneration and social security | 45 | €220,423 | €408,509 | +€188,086 | +85.3% |
| Taxes | 450/3 | €170,700 | €338,736 | +€168,036 | +98.4% |
| Remuneration and social security | 454/9 | €49,723 | €69,773 | +€20,050 | +40.3% |
| Other amounts payable | 47/48 | €34,383 | €23,383 | -€11,000 | -32.0% |
| Accrued charges and deferred income | 492/3 | - | €23,700 | +€23,700 | |
| Remuneration, social security and pensions | 62 | €329,504 | €419,049 | +€89,545 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,213 | €3,213 | = | 0.0% |
| Other operating charges | 640/8 | €1,396 | €2,855 | +€1,460 | +105% |
| Gross operating margin | 9900 | €566,298 | €486,182 | -€80,116 | -14.1% |
| Operating profit (loss) | 9901 | €232,186 | €61,065 | -€171,120 | -73.7% |
| Financial income | 75/76B | €16,721 | €0 | -€16,721 | -100% |
| Recurring financial income | 75 | €16,721 | €0 | -€16,721 | -100% |
| Financial charges | 65/66B | €14,985 | €23,270 | +€8,285 | +55.3% |
| Recurring financial charges | 65 | €14,985 | €23,270 | +€8,285 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | €233,922 | €37,795 | -€196,127 | -83.8% |
| Income taxes | 67/77 | €59,519 | €12,685 | -€46,834 | -78.7% |
| Profit (loss) for the period | 9904 | €174,403 | €25,110 | -€149,293 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | €174,403 | €25,110 | -€149,293 | -85.6% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.