FKL: what changed
Two fiscal 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
FKL
NACE 38.330, Waste collection, recovery and disposal activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €3.0m-€1.5m
Equity
€4.5m
2024 · €3.0m+€1.5m
Cash
€1.2m
2024 · €64,761+€1.1m
Balance sheet total
€17.7m
2024 · €15.0m+€2.7m
Largest movements
Assets
- Receivables within one year +€5.4m
up €5.4m (+64.2%), from €8.4m to €13.8m
of which Other amounts receivable: +€3.7m
- Intangible fixed assets -€3.7m
down €3.7m (-100.0%), from €3.7m to €0
- Cash +€1.1m
up €1.1m (+1745.8%), from €64,761 to €1.2m
mainly Investment in fixed assets (net) (+€3.8m) and Accrued charges and deferred income (+€1.7m)
- Stocks and contracts -€632,378
down €632,378 (-71.8%), from €880,989 to €248,611
- Deferred charges and accrued income +€611,222
up €611,222 (+40.0%), from €1.5m to €2.1m
Equity and liabilities
- Accrued charges and deferred income +€1.7m
up €1.7m (+120.5%), from €1.4m to €3.2m
- Reserves +€1.5m
up €1.5m (+50.4%), from €3.0m to €4.5m
- Other debts +€732,494
up €732,494 (+291.3%), from €251,486 to €983,981
- Short-term financial debts -€513,375
down €513,375 (-12.6%), from €4.1m to €3.6m
of which Other loans: -€513,375
- Tax, wage and social debts -€440,317
down €440,317 (-38.2%), from €1.2m to €712,316
of which Taxes: -€420,301
Income statement
- Turnover -€4.2m
down €4.2m (-13.9%), from €30.1m to €26.0m
- Services and other goods -€2.4m
down €2.4m (-13.6%), from €17.3m to €15.0m
- Write-downs +€649,555
new in 2025: €649,555
- Taxes -€425,097
down €425,097 (-42.3%), from €1.0m to €579,413
- Depreciation -€352,101
down €352,101 (-78.5%), from €448,304 to €96,203
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
€3.0m
Turnover
-€4.2m
Other operating income
+€51,682
Goods and materials
+€40,890
Services and other goods
+€2.4m
Staff costs
-€153,901
Depreciation
+€352,101
Write-downs
-€649,555
Other operating charges
+€9,847
Other operating items
+€188,892
Financial income
+€66,714
Financial charges
+€11,006
Taxes
+€425,097
Result 2025
€1.5m
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
-€2.1m
Investment
+€3.8m
Financing
-€564,366
Cash 2024
€64,761
From operations (derived)
-€2.1m
Net result for the year
+€1.5m
Depreciation
+€96,203
Receivables after one year
-€30,000
Stocks and contracts
+€632,378
Receivables within one year
-€5.4m
Deferred charges and accrued income
-€611,222
Trade debts
-€308,160
Tax, wage and social debts
-€440,317
Other debts
+€732,494
Accrued charges and deferred income
+€1.7m
Investment (derived)
+€3.8m
Investment in fixed assets (net)
+€3.8m
Financing
-€564,366
Debts after one year
-€52,788
Current portion of long-term debt
+€1,797
Short-term financial debts
-€513,375
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,028,910 | €17,690,511 | +€2.7m | +17.7% |
| Fixed assets | 21/28 | €4,154,405 | €285,078 | -€3.9m | -93.1% |
| Intangible fixed assets | 21 | €3,707,110 | €0 | -€3.7m | -100.0% |
| Tangible fixed assets | 22/27 | €447,295 | €285,078 | -€162,217 | -36.3% |
| Plant, machinery and equipment | 23 | €18,812 | €23,462 | +€4,650 | +24.7% |
| Furniture and vehicles | 24 | €336,216 | €261,616 | -€74,600 | -22.2% |
| Assets under construction and advance payments | 27 | €92,267 | €0 | -€92,267 | -100.0% |
| Current assets | 29/58 | €10,874,505 | €17,405,434 | +€6.5m | +60.1% |
| Amounts receivable after more than one year | 29 | €5,359 | €35,359 | +€30,000 | +559.9% |
| Trade receivables | 290 | €5,359 | €0 | -€5,359 | -100.0% |
| Other amounts receivable | 291 | - | €35,359 | +€35,359 | |
| Stocks and contracts in progress | 3 | €880,989 | €248,611 | -€632,378 | -71.8% |
| Stocks | 30/36 | €880,989 | €248,611 | -€632,378 | -71.8% |
| Raw materials and consumables | 30/31 | €880,989 | €248,611 | -€632,378 | -71.8% |
| Amounts receivable within one year | 40/41 | €8,394,378 | €13,785,842 | +€5.4m | +64.2% |
| Trade receivables | 40 | €5,773,555 | €7,467,431 | +€1.7m | +29.3% |
| Other amounts receivable | 41 | €2,620,823 | €6,318,411 | +€3.7m | +141.1% |
| Cash at bank and in hand | 54/58 | €64,761 | €1,195,382 | +€1.1m | +1745.8% |
| Deferred charges and accrued income | 490/1 | €1,529,018 | €2,140,241 | +€611,222 | +40.0% |
| Total equity and liabilities | 10/49 | €15,028,910 | €17,690,511 | +€2.7m | +17.7% |
| Equity | 10/15 | €3,018,880 | €4,526,988 | +€1.5m | +50.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,993,880 | €4,501,988 | +€1.5m | +50.4% |
| Distributable reserves | 133 | €2,993,880 | €4,501,988 | +€1.5m | +50.4% |
| Amounts payable | 17/49 | €12,010,030 | €13,163,523 | +€1.2m | +9.6% |
| Amounts payable after more than one year | 17 | €164,009 | €111,221 | -€52,788 | -32.2% |
| Financial debts | 170/4 | €164,009 | €111,221 | -€52,788 | -32.2% |
| Credit institutions | 173 | - | €111,221 | +€111,221 | |
| Other loans | 174 | €164,009 | €0 | -€164,009 | -100.0% |
| Amounts payable within one year | 42/48 | €10,406,662 | €9,879,101 | -€527,561 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €50,991 | €52,788 | +€1,797 | +3.5% |
| Financial debts | 43 | €4,090,442 | €3,577,067 | -€513,375 | -12.6% |
| Credit institutions | 430/8 | €3,500,000 | €3,500,000 | = | 0.0% |
| Other loans | 439 | €590,442 | €77,067 | -€513,375 | -86.9% |
| Trade debts | 44 | €4,861,109 | €4,552,949 | -€308,160 | -6.3% |
| Suppliers | 440/4 | €4,861,109 | €4,552,949 | -€308,160 | -6.3% |
| Taxes, remuneration and social security | 45 | €1,152,633 | €712,316 | -€440,317 | -38.2% |
| Taxes | 450/3 | €996,197 | €575,895 | -€420,301 | -42.2% |
| Remuneration and social security | 454/9 | €156,436 | €136,421 | -€20,015 | -12.8% |
| Other amounts payable | 47/48 | €251,486 | €983,981 | +€732,494 | +291.3% |
| Accrued charges and deferred income | 492/3 | €1,439,360 | €3,173,202 | +€1.7m | +120.5% |
| Operating income | 70/76A | €30,334,146 | €26,310,642 | -€4.0m | -13.3% |
| Turnover | 70 | €30,141,988 | €25,954,735 | -€4.2m | -13.9% |
| Other operating income | 74 | €192,159 | €243,841 | +€51,682 | +26.9% |
| Non-recurring operating income | 76A | - | €112,067 | +€112,067 | |
| Operating charges | 60/66A | €26,133,439 | €24,098,522 | -€2.0m | -7.8% |
| Goods for resale, raw materials and consumables | 60 | €6,722,900 | €6,682,010 | -€40,890 | -0.6% |
| Purchases | 600/8 | €7,603,890 | €6,049,632 | -€1.6m | -20.4% |
| Change in stocks: decrease (increase) | 609 | -€880,989 | €632,378 | +€1.5m | |
| Services and other goods | 61 | €17,327,524 | €14,968,815 | -€2.4m | -13.6% |
| Remuneration, social security and pensions | 62 | €1,517,405 | €1,671,306 | +€153,901 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €448,304 | €96,203 | -€352,101 | -78.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €649,555 | +€649,555 | |
| Other operating charges | 640/8 | €31,857 | €22,010 | -€9,847 | -30.9% |
| Non-recurring operating charges | 66A | €85,449 | €8,624 | -€76,826 | -89.9% |
| Operating profit (loss) | 9901 | €4,200,708 | €2,212,120 | -€2.0m | -47.3% |
| Financial income | 75/76B | €56 | €66,769 | +€66,714 | +119924.0% |
| Recurring financial income | 75 | €56 | €66,769 | +€66,714 | +119924.0% |
| Income from current assets | 751 | - | €59,600 | +€59,600 | |
| Other financial income | 752/9 | €56 | €7,169 | +€7,114 | +12787.8% |
| Financial charges | 65/66B | €202,374 | €191,368 | -€11,006 | -5.4% |
| Recurring financial charges | 65 | €202,374 | €191,368 | -€11,006 | -5.4% |
| Debt charges | 650 | €180,554 | €165,308 | -€15,246 | -8.4% |
| Other financial charges | 652/9 | €21,820 | €26,060 | +€4,240 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €3,998,389 | €2,087,521 | -€1.9m | -47.8% |
| Income taxes | 67/77 | €1,004,509 | €579,413 | -€425,097 | -42.3% |
| Taxes | 670/3 | €1,004,509 | €579,413 | -€425,097 | -42.3% |
| Profit (loss) for the period | 9904 | €2,993,880 | €1,508,108 | -€1.5m | -49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,993,880 | €1,508,108 | -€1.5m | -49.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.