LE RELAIS: what changed
Two financial 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.
LE RELAIS
Largest movements
- Cash +€11,749
up €11,749 (+57.6%), from €20,398 to €32,147
mainly Depreciation (+€10,001) and Stocks and contracts (+€7,556)
- Tangible fixed assets -€8,365
down €8,365 (-17.3%), from €48,399 to €40,034
of which Plant, machinery and equipment: -€5,862
- Stocks and contracts -€7,556
down €7,556 (-50.4%), from €14,992 to €7,436
- Receivables within one year -€4,017
down €4,017 (-23.3%), from €17,227 to €13,209
of which Trade receivables: -€5,692
- Deferred charges and accrued income -€1,528
down €1,528 (-31.7%), from €4,819 to €3,291
- Debts after one year -€6,344
no longer reported in 2025 (was €6,344)
- Profit (loss) carried forward +€3,994
up €3,994 (+12.7%), from €31,433 to €35,427
- Current portion of long-term debt -€3,737
down €3,737 (-37.1%), from €10,081 to €6,344
- Trade debts -€3,323
down €3,323 (-49.6%), from €6,697 to €3,374
- Gross operating margin -€5,906
down €5,906 (-6.7%), from €88,264 to €82,358
- Depreciation -€5,821
down €5,821 (-36.8%), from €15,822 to €10,001
- Staff costs -€3,644
down €3,644 (-5.5%), from €66,647 to €63,003
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.
Derived cash bridge
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,835 | €96,116 | -€9,718 | -9.2% |
| Fixed assets | 21/28 | €48,399 | €40,034 | -€8,365 | -17.3% |
| Tangible fixed assets | 22/27 | €48,399 | €40,034 | -€8,365 | -17.3% |
| Land and buildings | 22 | €14,353 | €13,456 | -€897 | -6.3% |
| Plant, machinery and equipment | 23 | €31,674 | €25,812 | -€5,862 | -18.5% |
| Furniture and vehicles | 24 | €2,372 | €766 | -€1,606 | -67.7% |
| Current assets | 29/58 | €57,435 | €56,082 | -€1,353 | -2.4% |
| Stocks and contracts in progress | 3 | €14,992 | €7,436 | -€7,556 | -50.4% |
| Stocks | 30/36 | €14,992 | €7,436 | -€7,556 | -50.4% |
| Amounts receivable within one year | 40/41 | €17,227 | €13,209 | -€4,017 | -23.3% |
| Trade receivables | 40 | €14,362 | €8,670 | -€5,692 | -39.6% |
| Other amounts receivable | 41 | €2,864 | €4,539 | +€1,675 | +58.5% |
| Cash at bank and in hand | 54/58 | €20,398 | €32,147 | +€11,749 | +57.6% |
| Deferred charges and accrued income | 490/1 | €4,819 | €3,291 | -€1,528 | -31.7% |
| Total equity and liabilities | 10/49 | €105,835 | €96,116 | -€9,718 | -9.2% |
| Equity | 10/15 | €75,433 | €79,427 | +€3,994 | +5.3% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €16,500 | €16,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,500 | €16,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,433 | €35,427 | +€3,994 | +12.7% |
| Amounts payable | 17/49 | €30,402 | €16,690 | -€13,712 | -45.1% |
| Amounts payable after more than one year | 17 | €6,344 | - | -€6,344 | |
| Financial debts | 170/4 | €6,344 | - | -€6,344 | |
| Amounts payable within one year | 42/48 | €24,058 | €16,690 | -€7,368 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €10,081 | €6,344 | -€3,737 | -37.1% |
| Trade debts | 44 | €6,697 | €3,374 | -€3,323 | -49.6% |
| Suppliers | 440/4 | €6,697 | €3,374 | -€3,323 | -49.6% |
| Taxes, remuneration and social security | 45 | €7,280 | €6,971 | -€309 | -4.2% |
| Taxes | 450/3 | €1,446 | €1,796 | +€350 | +24.2% |
| Remuneration and social security | 454/9 | €5,835 | €5,176 | -€659 | -11.3% |
| Remuneration, social security and pensions | 62 | €66,647 | €63,003 | -€3,644 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,822 | €10,001 | -€5,821 | -36.8% |
| Other operating charges | 640/8 | €4,968 | €5,159 | +€191 | +3.8% |
| Gross operating margin | 9900 | €88,264 | €82,358 | -€5,906 | -6.7% |
| Operating profit (loss) | 9901 | €827 | €4,195 | +€3,369 | +407% |
| Financial income | 75/76B | €605 | €523 | -€83 | -13.7% |
| Recurring financial income | 75 | €605 | €523 | -€83 | -13.7% |
| Financial charges | 65/66B | €1,084 | €724 | -€360 | -33.2% |
| Recurring financial charges | 65 | €1,084 | €724 | -€360 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €348 | €3,994 | +€3,646 | +1,048% |
| Profit (loss) for the period | 9904 | €348 | €3,994 | +€3,646 | +1,048% |
| Profit (loss) for the period to be appropriated | 9905 | €348 | €3,994 | +€3,646 | +1,048% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.