RALEX: 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.
RALEX
Largest movements
- Cash +€32,777
up €32,777 (+21.9%), from €149,899 to €182,676
mainly Other debts (+€54,228) and Depreciation (+€36,738)
- Intangible fixed assets -€32,000
down €32,000 (-33.3%), from €96,000 to €64,000
- Receivables within one year +€24,698
up €24,698 (+206.1%), from €11,985 to €36,683
of which Trade receivables: +€21,242
- Tangible fixed assets -€4,738
down €4,738 (-33.3%), from €14,215 to €9,477
- Other debts +€54,228
up €54,228 (+53.3%), from €101,746 to €155,974
- Trade debts -€49,828
down €49,828 (-35.6%), from €139,980 to €90,152
- Reserves +€8,571
up €8,571 (+72.5%), from €11,821 to €20,392
of which Distributable reserves: +€8,571
- Advances received +€3,899
up €3,899 (+64.6%), from €6,040 to €9,939
- Tax, wage and social debts +€3,867
up €3,867 (+153.9%), from €2,512 to €6,379
- Gross operating margin +€3,099
up €3,099 (+6.6%), from €47,142 to €50,241
- Taxes +€802
up €802 (+31.9%), from €2,512 to €3,314
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 | €272,099 | €292,836 | +€20,737 | +7.6% |
| Fixed assets | 21/28 | €110,215 | €73,477 | -€36,738 | -33.3% |
| Intangible fixed assets | 21 | €96,000 | €64,000 | -€32,000 | -33.3% |
| Tangible fixed assets | 22/27 | €14,215 | €9,477 | -€4,738 | -33.3% |
| Land and buildings | 22 | €14,215 | €9,477 | -€4,738 | -33.3% |
| Current assets | 29/58 | €161,884 | €219,359 | +€57,475 | +35.5% |
| Amounts receivable within one year | 40/41 | €11,985 | €36,683 | +€24,698 | +206.1% |
| Trade receivables | 40 | €9,744 | €30,986 | +€21,242 | +218.0% |
| Other amounts receivable | 41 | €2,241 | €5,697 | +€3,456 | +154.2% |
| Cash at bank and in hand | 54/58 | €149,899 | €182,676 | +€32,777 | +21.9% |
| Total equity and liabilities | 10/49 | €272,099 | €292,836 | +€20,737 | +7.6% |
| Equity | 10/15 | €21,821 | €30,392 | +€8,571 | +39.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €11,821 | €20,392 | +€8,571 | +72.5% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €10,821 | €19,392 | +€8,571 | +79.2% |
| Amounts payable | 17/49 | €250,278 | €262,444 | +€12,166 | +4.9% |
| Amounts payable within one year | 42/48 | €250,278 | €262,444 | +€12,166 | +4.9% |
| Trade debts | 44 | €139,980 | €90,152 | -€49,828 | -35.6% |
| Suppliers | 440/4 | €139,980 | €90,152 | -€49,828 | -35.6% |
| Advances received on contracts in progress | 46 | €6,040 | €9,939 | +€3,899 | +64.6% |
| Taxes, remuneration and social security | 45 | €2,512 | €6,379 | +€3,867 | +153.9% |
| Taxes | 450/3 | €2,512 | €6,379 | +€3,867 | +153.9% |
| Other amounts payable | 47/48 | €101,746 | €155,974 | +€54,228 | +53.3% |
| Remuneration, social security and pensions | 62 | €932 | €1,111 | +€179 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,739 | €36,738 | -€1 | 0.0% |
| Other operating charges | 640/8 | €449 | €462 | +€13 | +2.9% |
| Gross operating margin | 9900 | €47,142 | €50,241 | +€3,099 | +6.6% |
| Operating profit (loss) | 9901 | €9,022 | €11,930 | +€2,908 | +32.2% |
| Financial charges | 65/66B | €47 | €45 | -€2 | -4.3% |
| Recurring financial charges | 65 | €47 | €45 | -€2 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €8,975 | €11,885 | +€2,910 | +32.4% |
| Income taxes | 67/77 | €2,512 | €3,314 | +€802 | +31.9% |
| Profit (loss) for the period | 9904 | €6,463 | €8,571 | +€2,108 | +32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,463 | €8,571 | +€2,108 | +32.6% |
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 12 October 2026 via checked.be.