R.L.O.: 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.
R.L.O.
Largest movements
- Cash -€23,724
down €23,724 (-90.2%), from €26,308 to €2,584
mainly Trade debts (-€10,967) and Net result for the year (-€7,553)
- Receivables within one year +€6,330
up €6,330 (+1.2%), from €507,707 to €514,037
of which Other amounts receivable: +€15,234
- Trade debts -€10,967
down €10,967 (-88.6%), from €12,377 to €1,410
- Profit (loss) carried forward -€7,553
down €7,553 (-1.7%), from -€457,555 to -€465,108
- Gross operating margin -€24,917
down €24,917 (-58.8%), from €42,366 to €17,449
- Financial charges -€7,935
down €7,935 (-20.4%), from €38,883 to €30,948
- Depreciation +€635
up €635 (+18.2%), from €3,488 to €4,124
- Other operating charges -€481
down €481 (-60.2%), from €799 to €318
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 | €549,373 | €531,096 | -€18,278 | -3.3% |
| Fixed assets | 21/28 | €8,417 | €7,533 | -€884 | -10.5% |
| Tangible fixed assets | 22/27 | €8,411 | €7,528 | -€884 | -10.5% |
| Furniture and vehicles | 24 | €8,411 | €7,528 | -€884 | -10.5% |
| Financial fixed assets | 28 | €6 | €6 | = | 0.0% |
| Current assets | 29/58 | €540,957 | €523,563 | -€17,394 | -3.2% |
| Stocks and contracts in progress | 3 | €6,942 | €6,942 | = | 0.0% |
| Stocks | 30/36 | €6,942 | €6,942 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €507,707 | €514,037 | +€6,330 | +1.2% |
| Trade receivables | 40 | €34,448 | €25,543 | -€8,905 | -25.8% |
| Other amounts receivable | 41 | €473,259 | €488,493 | +€15,234 | +3.2% |
| Cash at bank and in hand | 54/58 | €26,308 | €2,584 | -€23,724 | -90.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €549,373 | €531,096 | -€18,278 | -3.3% |
| Equity | 10/15 | -€320,904 | -€328,457 | -€7,553 | -2.4% |
| Contributions | 10/11 | €130,144 | €130,144 | = | 0.0% |
| Capital | 10 | €130,144 | €130,144 | = | 0.0% |
| Issued capital | 100 | €130,144 | €130,144 | = | 0.0% |
| Reserves | 13 | €6,507 | €6,507 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,507 | €6,507 | = | 0.0% |
| Legal reserve | 130 | €6,507 | €6,507 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€457,555 | -€465,108 | -€7,553 | -1.7% |
| Amounts payable | 17/49 | €870,277 | €859,553 | -€10,725 | -1.2% |
| Amounts payable within one year | 42/48 | €870,277 | €859,553 | -€10,725 | -1.2% |
| Financial debts | 43 | €300,000 | €300,000 | = | 0.0% |
| Credit institutions | 430/8 | €300,000 | €300,000 | = | 0.0% |
| Trade debts | 44 | €12,377 | €1,410 | -€10,967 | -88.6% |
| Suppliers | 440/4 | €12,377 | €1,410 | -€10,967 | -88.6% |
| Taxes, remuneration and social security | 45 | €38 | €0 | -€38 | -100% |
| Taxes | 450/3 | €38 | €0 | -€38 | -100% |
| Other amounts payable | 47/48 | €557,862 | €558,142 | +€280 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,488 | €4,124 | +€635 | +18.2% |
| Other operating charges | 640/8 | €799 | €318 | -€481 | -60.2% |
| Gross operating margin | 9900 | €42,366 | €17,449 | -€24,917 | -58.8% |
| Operating profit (loss) | 9901 | €38,079 | €13,007 | -€25,072 | -65.8% |
| Financial income | 75/76B | €10,039 | €10,388 | +€349 | +3.5% |
| Recurring financial income | 75 | €10,039 | €10,388 | +€349 | +3.5% |
| Financial charges | 65/66B | €38,883 | €30,948 | -€7,935 | -20.4% |
| Recurring financial charges | 65 | €38,883 | €30,948 | -€7,935 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €9,234 | -€7,553 | -€16,787 | |
| Profit (loss) for the period | 9904 | €9,234 | -€7,553 | -€16,787 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,234 | -€7,553 | -€16,787 |
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 31 October 2026 via checked.be.