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01 Preface
Ten years of shared commitment to the circular economy.
This year marks an important milestone for PV CYCLE Belgium: ten years ago (on 29 April 2016), the organisation was founded with a clear ambition: to ensure that solar panels in Belgium not only generate sustainable energy, but are also collected and recycled responsibly at the end of their life.
Ten years on, it is clear that this system has become firmly established. What began with a limited number of member companies has grown into a widely supported sector-wide initiative. Producers are taking responsibility, and more and more installers and end-users are finding their way to the appropriate collection channels. This joint effort forms the basis of the results we are achieving today.
The year 2025 also confirms a trend that has become increasingly clear in recent years: the volume of solar panels being disposed of continues to grow.
With 1,785 tonnes of panels collected, we have once again set a new record. This is not a temporary peak, but a structural trend. The first generations of solar panels are reaching the end of their life and are being replaced by more efficient systems. This flow will intensify further in the coming years.
This growth requires a system that is both efficient and flexible. By 2025, the collection network had been further strengthened and, where necessary, additional recycling capacity had been deployed. Working closely with our operational partners, we thus continue to ensure reliable, high-quality processing for all collected panels.
This anniversary also marks a major turning point at the political level. The interregional cooperation agreement on extended producer responsibility has been approved in all three regions. Although not all aspects of this agreement are yet entirely clear, the aim is certainly to move towards a new, harmonised framework at the interregional level. This new framework undoubtedly confirms the importance of collective systems such as PV CYCLE Belgium.
The past ten years have demonstrated the strength of cooperation. The next ten look set to be marked by growth: rising volumes, stricter requirements and a growing need for a system that is both efficient and transparent. Together with our member companies, our partners and the public authorities, we remain firmly committed to meeting this challenge.
We would like to thank all stakeholders for their trust and cooperation. Only together can we ensure that photovoltaic panels contribute not only to the energy transition, but also to a circular economy.
Johan Goossens – Country Manager Belgium
Steven Leeten – Chairman
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02Solar panels placed on the market
A decade of producer responsibility
Ten years ago, 92 companies had joined PV CYCLE Belgium. Today there are 435, nearly five times as many — a growth that reflects the boom in the Belgian solar energy market. New players entering the panel market are choosing the collective scheme as the most effective way to meet their legal obligations. The group of affiliated companies thus continues to evolve in step with the sector.
The trend in the number of registered panels traces the history of ten years of solar energy in Belgium: from a modest start to a period of strong growth, peaking in 2023 and followed by a slowdown. These fluctuations are inherent to the market. Fluctuations in energy prices, tax measures and the falling cost of photovoltaic panels have, in recent years, had a direct impact on the pace of installations — and will continue to do so in the future.
New in 2025: plug-in solar panels
Since 2025, plug-in solar panels have been authorised on the Belgian market. These systems, which simply plug into a power socket, make solar energy accessible to a wider audience.
The impact remains, at this stage, limited: in 2025, some 14,000 plug-in solar panels were registered with PV CYCLE Belgium. This is not yet a major breakthrough, but it clearly illustrates the emergence of new, more accessible applications on the market.
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03Operational results
An efficient collection network
In collaboration with our partners, we are continuing to develop an extensive network for the collection of end-of-life photovoltaic panels. By the end of 2025, PV CYCLE Belgium had 102 collection points spread across the country (62 in Flanders, 38 in Wallonia and 2 in Brussels). This represents a slight increase compared to 2024. These collection points — often businesses within the sector itself — play a crucial role by providing a drop-off point for small quantities of panels.
For larger volumes, from around 40 panels upwards, PV CYCLE Belgium organises on-site collection. This second channel remains essential when dismantling larger installations.
In 2025, a notable shift in collection flows was observed. Around 30% of the panels collected were brought in via collection points, compared to 70% via on-site collections. By using these two collection channels in a complementary manner, we ensure that discarded photovoltaic panels are collected efficiently — regardless of their volume or location — and that they are transported to the right destination for recycling.
Collection points
Quantities collected: growth continues
In 2025, the strong growth in collected quantities continued. In total, PV CYCLE Belgium collected 1,785 tons, compared to 1,491 tons in 2024. The year 2025 thus confirms the clear upward trend observed in recent years.
This evolution reflects the ongoing development of a replacement market. More and more installations are reaching end of life and being replaced by more efficient systems, both in the residential sector and in larger-scale applications. The increase in volumes thus gives an indication of what to expect in the years ahead.
Flanders continues to account for the largest share, but collected volumes are also increasing in Wallonia and Brussels. Collection is thus gradually becoming a reality across the whole of Belgium.
Processing by several recycling partners
High-quality processing of end-of-life photovoltaic panels remains a crucial aspect of producer responsibility, for which PV CYCLE Belgium acts as guarantor. In 2025, the collected panels were processed by a group of partners, with BNE Trading & Recycling and the Comet/Recma consortium playing a key role, supplemented by other processors.
Due to operational difficulties at BNE, additional recycling capacity had to be called upon at the end of the year. In practice, a collaboration was established with Galloo (Menen) and Mirec (Eindhoven, The Netherlands). These partners enabled the continued processing of all collected photovoltaic panels without interruption.
A small proportion of the collected panels consists of CIGS panels, whose composition differs from that of conventional silicon panels. These streams are processed by Lohmann (Emsdetten, Germany).
The distribution of waste streams across several recycling partners highlights the importance of flexibility in a rapidly evolving market and ensures continuity of service. It also demonstrates that there is sufficient capacity and expertise to absorb the growing flow of end-of-life photovoltaic panels.
In 2026, PV CYCLE Belgium will put the processing contracts out to tender, with the aim of continuing to rely on stable, efficient and forward-looking processing. In collaboration with our partners, we thus ensure that end-of-life photovoltaic panels are recycled to a high standard and that their materials are reintroduced into the economy.
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04Sustainability
From recycling to measurable impact
Sustainability is at the heart of PV CYCLE Belgium's mission. By ensuring that photovoltaic panels are properly collected and recycled at the end of their life, we make it possible for valuable materials to be used again, thereby helping to reduce environmental impact.
In 2025, PV CYCLE took an important step in further professionalising its sustainability approach. Two dedicated roles were created to embed sustainability topics more firmly within the organisation: a Sustainability & Regulatory Affairs Manager and a Circularity Manager.
A materiality assessment was carried out to identify the sustainability topics most relevant to our activities. Circularity and climate change emerged as the main priorities. Other topics, such as business ethics, data protection, health and safety, responsible supply chain management and innovation, are also being further monitored.
At the core of PV CYCLE Belgium's sustainability results are, of course, the results of panel treatment. In 2025, the two main recycling partners — together accounting for 93% of the total volume — jointly achieved a recycling rate of 85.9% and a recovery rate of 96.6%. This means that the vast majority of materials are put to useful use again, either as secondary raw materials or through other forms of recovery.
Life cycle assessment confirms environmental benefits
For the first time, PV CYCLE Belgium carried out a life cycle assessment (LCA) of its activities. This analysis maps the environmental impact of the collection and treatment of end-of-life photovoltaic panels, from collection through to treatment and material recovery.
The results confirm that organised collection and recycling generate a clear net environmental benefit. For every kilogram of crystalline silicon panel treated, an average of 1.4 kg CO₂ equivalent is avoided. Applied to the total Belgian flow in 2025, this represents more than 2,327 tonnes of CO₂ equivalent avoided, which is equivalent to the emissions from 660 passenger cars, each traveling 15,000 km per year.
By contrast, the emissions linked to the operation of the system itself are much more limited. In 2025, emissions resulting from collection and the first stage of treatment amounted to 75.4 tonnes of CO₂ equivalent. The emissions avoided through recycling are therefore far higher than the emissions generated by logistics and treatment.
The analysis also shows positive effects in other areas. The recovery of materials such as aluminum, copper and glass leads to savings in primary raw materials and fossil energy. Benefits are observed across all impact categories that are typically included in an LCA.
The life cycle assessment will be published separately in 2026.
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05Communication
PV CYCLE Belgium's ten-year anniversary also marks ten years of raising awareness, thanks to effective communication campaigns.
In 2025, PV CYCLE Belgium was once again present at the sector's main trade fairs: InterSolution in Ghent, Solar Solutions in Kortrijk and Solar XPO in Marche-en-Famenne. This direct presence remains essential: it is at the trade fair that discussions begin, questions are answered and new companies take the plunge to join. Furthermore, the focus continued to be on targeted communication via the trade press, conferences and our own digital channels, with a regular newsletter and a presence on LinkedIn that continues to grow year on year. The second edition of the Stakeholders Forum, bringing together representatives from member companies, federations, public authorities and operational partners, was also a success.
Regular communication will play an increasingly vital role in the years to come. The expected sharp rise in the number of discarded panels requires maximum collection rates — and this will only be possible if every link in the chain understands and fulfils its role. For manufacturers and importers, this means a level playing field: anyone placing panels on the market must contribute to their recycling. For individuals and businesses, this means they must find their way to the correct collection channels.
Ten years of targeted communication have laid a solid foundation for achieving this. Together with our partners, we are continuing to build on this foundation so that the growing volumes of the future can also be collected and processed efficiently.
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06Key financial figures
PV CYCLE Belgium's financial results reflect market trends. In 2025, environmental contributions collected amounted to €3.5 million, compared with €3.9 million in 2024. This decline follows the drop in the number of photovoltaic panels placed on the market and confirms the volatility inherent to the sector. The contribution per panel remained unchanged.
At the same time, operating costs have risen. Expenditure on collection and processing amounted to €313,000, in line with the increase in volumes collected and the rise in processing costs per tonne. Management costs also rose, reaching €430,000, driven in particular by increased professionalisation and additional communication efforts.
The financial model is based on a long-term approach, in which environmental contributions are not spent immediately but are partly set aside to cover future costs. In 2025, €3.1 million was added to these provisions. These funds are essential to finance the collection and treatment of photovoltaic panels when current installations reach the end of their life.
| 2024 (K EUR) |
2025 (K EUR) |
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| Revenue | ||
| Environmental contributions | 3 908 | 3 488 |
| Costs | ||
| Management fees | 376 | 430 |
| Operational costs (collection and processing) | 267 | 313 |
| Provisions | ||
| Provisions for future costs | 5 358 | 3 140 |
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