Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 18 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
RECYCAR from Châtelet, company number BE0456173677, closed financial year 2025 with a result of € -277,523 after tax. For that financial year RECYCAR recorded a gross margin of € 354,833 and equity of € -604,862. Compared with financial year 2024, the result moved from € -263,100 to € -277,523. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ -604,862
▼ € 277,523 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -277,523
▼ 5 % more loss than in 2024
Profit after tax over the fiscal year.
€ 5,240
▼ 94% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -715,174.
People and assets in 2025
6.9
▼ 4.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 405,525
▼ 25% vs 2024
€ 58,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 556,485
▲ 240% vs 2024
Of which on lease € 482,387.
Debts at end 2025
€ 1.2 million
▲ 27% vs 2024
€ 150,681 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 143,711
▼ 7% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 47,928
▼ 44% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 513,014 | € 446,039 | € 504,593 | € 354,833 | ▼ 30% |
| Profit after taxes | € -12,749 | € -263,729 | € -263,100 | € -277,523 | ▼ € 14,423 |
| Equity | € 199,490 | € -64,239 | € -327,339 | € -604,862 | ▼ € 277,523 |
| Total debts | € 777,106 | € 1,248,618 | € 1,208,398 | € 1,605,736 | ▲ 33% |
| Cash | € 166,272 | € 253,082 | € 93,623 | € 5,240 | ▼ 94% |
| Retained profit | € 89,177 | € -174,552 | € -437,652 | € -715,174 | ▼ € 277,523 |
| Bank debt | € 426,886 | € 1,039,650 | € 958,285 | € 1,212,499 | ▲ 27% |
| Balance sheet total | € 976,596 | € 1,184,378 | € 881,059 | € 1,000,874 | ▲ 14% |
| Employees (FTE) | 8.4 | 10.8 | 11.2 | 6.9 | ▼ 4.3 |
Key figures of RECYCAR, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to RECYCAR?
What happened at RECYCAR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Maxime GROSJEAN stepped down as director. NBB
- C.B.P.I.I. SA stepped down as director. NBB
- Aurore GROSJEAN stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 277,523. Source: NBB ↗
- Maxime GROSJEAN became a director. NBB
- C.B.P.I.I. SA became a director. NBB
- Aurore GROSJEAN became a director. NBB
- New establishment in Châtelet. KBO
In short
From € 12,749 loss in 2022 to € 277,523 loss in 2025.
Paid € 3,341 in corporate taxes since 2022.
On average € 51,400 of value added per employee in 2025.
Management
The stake of MG MANAGEMENT CONSULTING, COMET TRAITEMENTS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
RECYCARThe shares are held by MG MANAGEMENT CONSULTING (75.5%) and COMET TRAITEMENTS (24.5%).
Directors
According to the 2025 annual accounts
Maxime GROSJEAN
Managing director
Also active at: Rivage et Entrepôts de Châtelineau, COMETSAMBRE, RECYMET, COMET TYRE RECYCLING, COMET TRAITEMENTS, MG MANAGEMENT CONSULTING, COMPAGNIE BELGE DE PARTICIPATIONS INDUSTRIELLES ET IMMOBILIERES, IMMO AZUR +2 more
since 2023 · until 2029
Director · represented by Philippe GROSJEAN
Also active at: Rivage et Entrepôts de Châtelineau, COMETSAMBRE, ACIERS GROSJEAN, RECYMET, FERUTIL, COMET TYRE RECYCLING, COMET TRAITEMENTS, IMMO AZUR +2 more
since 2023 · until 2029
Aurore GROSJEAN
Director
Also active at: Rivage et Entrepôts de Châtelineau, ACOZ FERS ET METAUX, GROSJEAN ET FILS, COMETSAMBRE, ACIERS GROSJEAN, RECYMET, BRICOFER, FERUTIL +7 more
since 2023 · until 2029
Shareholders
75.5%
24.5%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Chemin du Boubier 25
6200 Châtelet
Rivage de Boubier 77
6200 Châtelet
Active since 9 November 1995
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0456.173.677
- VAT number
- BE 0456.173.677
- Registered office
- Chemin du Boubier 25, 6200 Châtelet
- Names & denominations
- RECYCAR
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 September 1995
- Peppol
- Active · Active since 19 Nov 2025
- Activities · NACE
Terugwinning van materialen uit afval
Recycling van metaalafval
Terugwinning van metaalafval
Sloop van wrakken
Sanering en ander afvalbeheer
Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (<= 3,5 ton)
Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)
Onderhoud en reparatie van auto's
+3