RELAW: what changed
Two fiscal 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.
RELAW
Largest movements
- Cash -€94,855
down €94,855 (-28.7%), from €330,635 to €235,781
mainly Contributions, distributions and other (-€414,519) and Other debts (-€151,198)
- Receivables within one year -€30,969
down €30,969 (-13.0%), from €237,674 to €206,704
of which Trade receivables: -€34,371
- Other debts -€151,198
down €151,198 (-26.5%), from €570,616 to €419,418
- Tax, wage and social debts +€15,558
up €15,558 (+129.2%), from €12,043 to €27,601
- Trade debts +€13,280
up €13,280 (+349.3%), from €3,802 to €17,082
- Gross operating margin -€139,818
down €139,818 (-24.9%), from €562,158 to €422,340
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 | €588,961 | €466,601 | -€122,360 | -20.8% |
| Fixed assets | 21/28 | €9,893 | €8,510 | -€1,383 | -14.0% |
| Tangible fixed assets | 22/27 | €9,893 | €8,510 | -€1,383 | -14.0% |
| Furniture and vehicles | 24 | €9,893 | €8,510 | -€1,383 | -14.0% |
| Current assets | 29/58 | €579,068 | €458,090 | -€120,977 | -20.9% |
| Amounts receivable within one year | 40/41 | €237,674 | €206,704 | -€30,969 | -13.0% |
| Trade receivables | 40 | €236,076 | €201,705 | -€34,371 | -14.6% |
| Other amounts receivable | 41 | €1,598 | €5,000 | +€3,402 | +213.0% |
| Cash at bank and in hand | 54/58 | €330,635 | €235,781 | -€94,855 | -28.7% |
| Deferred charges and accrued income | 490/1 | €10,759 | €15,605 | +€4,847 | +45.0% |
| Total equity and liabilities | 10/49 | €588,961 | €466,601 | -€122,360 | -20.8% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €586,461 | €464,101 | -€122,360 | -20.9% |
| Amounts payable within one year | 42/48 | €586,461 | €464,101 | -€122,360 | -20.9% |
| Trade debts | 44 | €3,802 | €17,082 | +€13,280 | +349.3% |
| Suppliers | 440/4 | €3,802 | €17,082 | +€13,280 | +349.3% |
| Taxes, remuneration and social security | 45 | €12,043 | €27,601 | +€15,558 | +129.2% |
| Taxes | 450/3 | €12,043 | €27,601 | +€15,558 | +129.2% |
| Other amounts payable | 47/48 | €570,616 | €419,418 | -€151,198 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,087 | €4,821 | +€2,734 | +131.0% |
| Other operating charges | 640/8 | - | €2,662 | +€2,662 | |
| Gross operating margin | 9900 | €562,158 | €422,340 | -€139,818 | -24.9% |
| Operating profit (loss) | 9901 | €560,071 | €414,857 | -€145,214 | -25.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €203 | €270 | +€67 | +33.0% |
| Recurring financial charges | 65 | €203 | €270 | +€67 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €559,868 | €414,587 | -€145,281 | -25.9% |
| Income taxes | 67/77 | - | €69 | +€69 | |
| Profit (loss) for the period | 9904 | €559,868 | €414,519 | -€145,350 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €559,868 | €414,519 | -€145,350 | -26.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.