RALEC DEVELOPMENTS: 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.
RALEC DEVELOPMENTS
Largest movements
- Cash +€40,440
up €40,440 (+138.0%), from €29,305 to €69,745
mainly Net result for the year (+€32,533) and Tax, wage and social debts (+€6,253)
- Receivables within one year -€3,386
down €3,386 (-24.9%), from €13,578 to €10,192
of which Trade receivables: -€4,348
- Tangible fixed assets +€985
up €985 (+125.0%), from €788 to €1,773
of which Plant, machinery and equipment: +€1,550
- Profit (loss) carried forward +€32,533
up €32,533 (+114.0%), from €28,543 to €61,076
- Tax, wage and social debts +€6,253
up €6,253 (+73.8%), from €8,474 to €14,728
- Trade debts -€871
down €871 (-47.2%), from €1,846 to €975
- Gross operating margin +€37,057
up €37,057 (+560.2%), from €6,615 to €43,672
- Taxes +€7,460
up €7,460 (+679.0%), from €1,099 to €8,559
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 | €43,863 | €81,778 | +€37,916 | +86.4% |
| Fixed assets | 21/28 | €788 | €1,773 | +€985 | +125.0% |
| Tangible fixed assets | 22/27 | €788 | €1,773 | +€985 | +125.0% |
| Plant, machinery and equipment | 23 | - | €1,550 | +€1,550 | |
| Furniture and vehicles | 24 | €788 | €223 | -€565 | -71.7% |
| Current assets | 29/58 | €43,075 | €80,005 | +€36,931 | +85.7% |
| Amounts receivable within one year | 40/41 | €13,578 | €10,192 | -€3,386 | -24.9% |
| Trade receivables | 40 | €11,858 | €7,510 | -€4,348 | -36.7% |
| Other amounts receivable | 41 | €1,720 | €2,682 | +€962 | +55.9% |
| Cash at bank and in hand | 54/58 | €29,305 | €69,745 | +€40,440 | +138.0% |
| Deferred charges and accrued income | 490/1 | €191 | €68 | -€123 | -64.5% |
| Total equity and liabilities | 10/49 | €43,863 | €81,778 | +€37,916 | +86.4% |
| Equity | 10/15 | €33,543 | €66,076 | +€32,533 | +97.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,543 | €61,076 | +€32,533 | +114.0% |
| Amounts payable | 17/49 | €10,320 | €15,703 | +€5,383 | +52.2% |
| Amounts payable within one year | 42/48 | €10,320 | €15,703 | +€5,383 | +52.2% |
| Trade debts | 44 | €1,846 | €975 | -€871 | -47.2% |
| Suppliers | 440/4 | €1,846 | €975 | -€871 | -47.2% |
| Taxes, remuneration and social security | 45 | €8,474 | €14,728 | +€6,253 | +73.8% |
| Taxes | 450/3 | €8,474 | €14,728 | +€6,253 | +73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €873 | €870 | -€3 | -0.3% |
| Other operating charges | 640/8 | €354 | €430 | +€76 | +21.6% |
| Gross operating margin | 9900 | €6,615 | €43,672 | +€37,057 | +560.2% |
| Operating profit (loss) | 9901 | €5,388 | €42,371 | +€36,984 | +686.4% |
| Financial income | 75/76B | €55 | €119 | +€65 | +118.0% |
| Recurring financial income | 75 | €55 | €119 | +€65 | +118.0% |
| Financial charges | 65/66B | €1,648 | €1,399 | -€249 | -15.1% |
| Recurring financial charges | 65 | €1,648 | €1,399 | -€249 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €3,795 | €41,092 | +€37,297 | +982.8% |
| Income taxes | 67/77 | €1,099 | €8,559 | +€7,460 | +679.0% |
| Profit (loss) for the period | 9904 | €2,696 | €32,533 | +€29,837 | +1106.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,696 | €32,533 | +€29,837 | +1106.6% |
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 9 October 2026 via checked.be.