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 +€34,685
up €34,685 (+57.5%), from €60,371 to €95,056
mainly Other debts (+€31,298) and Depreciation (+€16,999)
- Tangible fixed assets +€14,720
up €14,720 (+29.2%), from €50,479 to €65,200
of which Furniture and vehicles: +€18,708
- Receivables within one year -€2,526
down €2,526 (-9.8%), from €25,787 to €23,262
of which Trade receivables: -€4,587
- Other debts +€31,298
up €31,298 (+98.7%), from €31,702 to €63,000
- Reserves +€10,000
up €10,000 (+14.9%), from €67,000 to €77,000
- Accrued charges and deferred income +€6,333
up €6,333 (+481.9%), from €1,314 to €7,647
- Trade debts +€3,468
up €3,468 (+30.6%), from €11,344 to €14,812
- Current portion of long-term debt -€3,453
down €3,453 (-74.7%), from €4,619 to €1,167
- Financial charges +€5,456
up €5,456 (+518.4%), from €1,053 to €6,509
- Depreciation -€1,927
down €1,927 (-10.2%), from €18,926 to €16,999
- Other operating charges -€1,744
down €1,744 (-19.3%), from €9,050 to €7,306
- Gross operating margin -€1,278
down €1,278 (-2.8%), from €45,724 to €44,446
- Taxes -€992
down €992 (-30.6%), from €3,240 to €2,248
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139,750 | €188,173 | +€48,423 | +34.6% |
| Fixed assets | 21/28 | €50,479 | €65,200 | +€14,720 | +29.2% |
| Tangible fixed assets | 22/27 | €50,479 | €65,200 | +€14,720 | +29.2% |
| Land and buildings | 22 | €5,441 | €4,807 | -€634 | -11.6% |
| Plant, machinery and equipment | 23 | €20,414 | €17,661 | -€2,753 | -13.5% |
| Furniture and vehicles | 24 | €23,256 | €41,964 | +€18,708 | +80.4% |
| Other tangible fixed assets | 26 | €1,368 | €768 | -€600 | -43.9% |
| Current assets | 29/58 | €89,271 | €122,973 | +€33,702 | +37.8% |
| Amounts receivable within one year | 40/41 | €25,787 | €23,262 | -€2,526 | -9.8% |
| Trade receivables | 40 | €25,597 | €21,010 | -€4,587 | -17.9% |
| Other amounts receivable | 41 | €191 | €2,252 | +€2,061 | +1081.6% |
| Cash at bank and in hand | 54/58 | €60,371 | €95,056 | +€34,685 | +57.5% |
| Deferred charges and accrued income | 490/1 | €3,113 | €4,656 | +€1,543 | +49.6% |
| Total equity and liabilities | 10/49 | €139,750 | €188,173 | +€48,423 | +34.6% |
| Equity | 10/15 | €86,169 | €95,738 | +€9,569 | +11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,000 | €77,000 | +€10,000 | +14.9% |
| Distributable reserves | 133 | €67,000 | €77,000 | +€10,000 | +14.9% |
| Profit (loss) carried forward | 14 | €569 | €138 | -€431 | -75.7% |
| Amounts payable | 17/49 | €53,581 | €92,434 | +€38,853 | +72.5% |
| Amounts payable after more than one year | 17 | €1,167 | €0 | -€1,167 | -100.0% |
| Financial debts | 170/4 | €1,167 | €0 | -€1,167 | -100.0% |
| Amounts payable within one year | 42/48 | €51,101 | €84,788 | +€33,687 | +65.9% |
| Current portion of amounts payable after more than one year | 42 | €4,619 | €1,167 | -€3,453 | -74.7% |
| Trade debts | 44 | €11,344 | €14,812 | +€3,468 | +30.6% |
| Suppliers | 440/4 | €11,344 | €14,812 | +€3,468 | +30.6% |
| Taxes, remuneration and social security | 45 | €3,436 | €5,809 | +€2,373 | +69.1% |
| Taxes | 450/3 | €3,436 | €5,809 | +€2,373 | +69.1% |
| Other amounts payable | 47/48 | €31,702 | €63,000 | +€31,298 | +98.7% |
| Accrued charges and deferred income | 492/3 | €1,314 | €7,647 | +€6,333 | +481.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,926 | €16,999 | -€1,927 | -10.2% |
| Other operating charges | 640/8 | €9,050 | €7,306 | -€1,744 | -19.3% |
| Non-recurring operating charges | 66A | €125 | €1,983 | +€1,858 | +1486.8% |
| Gross operating margin | 9900 | €45,724 | €44,446 | -€1,278 | -2.8% |
| Operating profit (loss) | 9901 | €17,623 | €18,157 | +€535 | +3.0% |
| Financial income | 75/76B | €411 | €169 | -€241 | -58.8% |
| Recurring financial income | 75 | €411 | €169 | -€241 | -58.8% |
| Financial charges | 65/66B | €1,053 | €6,509 | +€5,456 | +518.4% |
| Recurring financial charges | 65 | €1,053 | €6,509 | +€5,456 | +518.4% |
| Profit (loss) for the period before taxes | 9903 | €16,980 | €11,817 | -€5,163 | -30.4% |
| Income taxes | 67/77 | €3,240 | €2,248 | -€992 | -30.6% |
| Profit (loss) for the period | 9904 | €13,741 | €9,569 | -€4,171 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,741 | €9,569 | -€4,171 | -30.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.