R.L.S.: 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.S.
Largest movements
- Tangible fixed assets +€1.9m
up €1.9m (+141%), from €1.3m to €3.2m
of which Land and buildings: +€1.5m
- Receivables within one year -€1.7m
down €1.7m (-97.2%), from €1.8m to €49,309
of which Other amounts receivable: -€1.7m
- Other debts +€249,620
new in 2025: €249,620
- Trade debts -€111,957
down €111,957 (-100.0%), from €112,000 to €43
- Reserves -€32,329
down €32,329 (-1.9%), from €1.7m to €1.6m
of which Tax-exempt reserves: -€32,329
- Depreciation +€52,367
up €52,367 (+99.8%), from €52,471 to €104,839
- Gross operating margin +€35,289
up €35,289 (+102%), from €34,627 to €69,916
- Financial income -€7,333
down €7,333 (-19.9%), from €36,856 to €29,523
- Taxes -€5,660
down €5,660 (-40.7%), from €13,894 to €8,234
- Other operating charges +€1,248
up €1,248 (+34.6%), from €3,611 to €4,860
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 | €3,103,559 | €3,222,545 | +€118,986 | +3.8% |
| Fixed assets | 21/28 | €1,313,440 | €3,164,678 | +€1.9m | +141% |
| Tangible fixed assets | 22/27 | €1,313,440 | €3,164,678 | +€1.9m | +141% |
| Land and buildings | 22 | €818,598 | €2,276,780 | +€1.5m | +178% |
| Other tangible fixed assets | 26 | €494,842 | €887,898 | +€393,056 | +79.4% |
| Current assets | 29/58 | €1,790,119 | €57,867 | -€1.7m | -96.8% |
| Amounts receivable within one year | 40/41 | €1,788,074 | €49,309 | -€1.7m | -97.2% |
| Trade receivables | 40 | €17,697 | €20,358 | +€2,661 | +15.0% |
| Other amounts receivable | 41 | €1,770,377 | €28,951 | -€1.7m | -98.4% |
| Cash at bank and in hand | 54/58 | €2,045 | €8,558 | +€6,513 | +319% |
| Total equity and liabilities | 10/49 | €3,103,559 | €3,222,545 | +€118,986 | +3.8% |
| Equity | 10/15 | €2,522,554 | €2,514,530 | -€8,024 | -0.3% |
| Contributions | 10/11 | €480,000 | €480,000 | = | 0.0% |
| Reserves | 13 | €1,673,128 | €1,640,799 | -€32,329 | -1.9% |
| Non-distributable reserves | 130/1 | €48,000 | €48,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €48,000 | €48,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,402,833 | €1,370,503 | -€32,329 | -2.3% |
| Distributable reserves | 133 | €222,296 | €222,296 | = | 0.0% |
| Profit (loss) carried forward | 14 | €369,426 | €393,731 | +€24,306 | +6.6% |
| Provisions and deferred taxes | 16 | €467,611 | €456,834 | -€10,776 | -2.3% |
| Deferred taxes | 168 | €467,611 | €456,834 | -€10,776 | -2.3% |
| Amounts payable | 17/49 | €113,394 | €251,180 | +€137,786 | +122% |
| Amounts payable within one year | 42/48 | €113,394 | €251,180 | +€137,786 | +122% |
| Trade debts | 44 | €112,000 | €43 | -€111,957 | -100.0% |
| Suppliers | 440/4 | €112,000 | €43 | -€111,957 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,394 | €1,517 | +€123 | +8.8% |
| Taxes | 450/3 | €1,394 | €1,517 | +€123 | +8.8% |
| Other amounts payable | 47/48 | - | €249,620 | +€249,620 | |
| Non-recurring operating income | 76A | - | €20,734 | +€20,734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,471 | €104,839 | +€52,367 | +99.8% |
| Other operating charges | 640/8 | €3,611 | €4,860 | +€1,248 | +34.6% |
| Gross operating margin | 9900 | €34,627 | €69,916 | +€35,289 | +102% |
| Operating profit (loss) | 9901 | -€21,456 | -€39,782 | -€18,326 | -85.4% |
| Financial income | 75/76B | €36,856 | €29,523 | -€7,333 | -19.9% |
| Recurring financial income | 75 | €36,856 | €29,523 | -€7,333 | -19.9% |
| Financial charges | 65/66B | €385 | €308 | -€77 | -20.0% |
| Recurring financial charges | 65 | €385 | €308 | -€77 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €15,016 | -€10,566 | -€25,582 | |
| Transfer from deferred taxes | 780 | €9,681 | €10,776 | +€1,095 | +11.3% |
| Income taxes | 67/77 | €13,894 | €8,234 | -€5,660 | -40.7% |
| Profit (loss) for the period | 9904 | €10,803 | -€8,024 | -€18,826 | |
| Transfer from tax-exempt reserves | 789 | €29,043 | €32,329 | +€3,286 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,846 | €24,306 | -€15,540 | -39.0% |
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 19 October 2026 via checked.be.