The recycling of ultralight foam concrete (ULFC), both with and without phase-change material (PCM), involves crushing it and using the resulting recycled foam concrete powder (RFCP) as a partial substitute for cement or sand in cement composites. These recycling paths remain insufficiently explored in the literature regarding practical feasibility. Since both RFCP and PCM reduce the flowability of fresh mortars, incorporating RFCP with PCM is, in practice, only feasible with the addition of a superplasticizer (SP). The primary objectives of this study were to determine: (1) the effect of RFCP with PCM, when used to replace cement or sand, on mortar properties, and (2) its influence on the performance of the superplasticizer (SP), to assess the feasibility of using RFCP with PCM in cement composites. The addition of RFCP, both without PCM (RFCP_0) and with PCM (RFCP_PCM), deteriorates the properties of fresh and hardened mortars compared to reference mortars. The negative impact of RFCP is less pronounced when it replaces sand rather than cement. Compared to RFCP_0 mortars, RFCP_PCM mortars exhibit reduced flowability. PCM delays setting and reduces heat evolution during the first 48 h of hardening. PCM does not significantly affect strength or water absorption but increases shrinkage and lowers thermal conductivity. While RFCP_PCM does not impair SP efficiency, PCM causes SP to significantly retard setting and hardening.