RELAX & RENEW: 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.
RELAX & RENEW
Largest movements
- Tangible fixed assets +€29,909
up €29,909 (+25.5%), from €117,135 to €147,044
of which Other tangible fixed assets: +€32,994
- Receivables within one year -€2,031
down €2,031 (-19.8%), from €10,280 to €8,249
of which Other amounts receivable: -€2,952
- Debts after one year +€98,557
up €98,557 (+55.6%), from €177,343 to €275,900
- Profit (loss) carried forward -€64,001
down €64,001 (-113.6%), from -€56,339 to -€120,340
- Other debts -€5,296
down €5,296 (-61.6%), from €8,594 to €3,298
- Trade debts -€2,020
down €2,020 (-64.0%), from €3,158 to €1,137
- Depreciation +€17,018
up €17,018 (+132.8%), from €12,819 to €29,838
- Gross operating margin +€9,654
up €9,654 (+23.4%), from -€41,265 to -€31,611
- Financial charges +€705
up €705 (+42.5%), from €1,660 to €2,365
- Financial income +€512
up €512 (+699.6%), from €73 to €586
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 | €146,306 | €174,411 | +€28,105 | +19.2% |
| Formation expenses | 20 | €2,498 | €1,898 | -€600 | -24.0% |
| Fixed assets | 21/28 | €124,885 | €153,530 | +€28,644 | +22.9% |
| Intangible fixed assets | 21 | €4,300 | €3,036 | -€1,264 | -29.4% |
| Tangible fixed assets | 22/27 | €117,135 | €147,044 | +€29,909 | +25.5% |
| Plant, machinery and equipment | 23 | €17,201 | €19,797 | +€2,597 | +15.1% |
| Furniture and vehicles | 24 | €56,568 | €50,886 | -€5,682 | -10.0% |
| Other tangible fixed assets | 26 | €43,367 | €76,361 | +€32,994 | +76.1% |
| Financial fixed assets | 28 | €3,450 | €3,450 | = | 0.0% |
| Current assets | 29/58 | €18,922 | €18,983 | +€61 | +0.3% |
| Amounts receivable within one year | 40/41 | €10,280 | €8,249 | -€2,031 | -19.8% |
| Trade receivables | 40 | €3,992 | €4,913 | +€921 | +23.1% |
| Other amounts receivable | 41 | €6,288 | €3,336 | -€2,952 | -47.0% |
| Cash at bank and in hand | 54/58 | €7,140 | €8,573 | +€1,433 | +20.1% |
| Deferred charges and accrued income | 490/1 | €1,502 | €2,161 | +€660 | +43.9% |
| Total equity and liabilities | 10/49 | €146,306 | €174,411 | +€28,105 | +19.2% |
| Equity | 10/15 | -€51,839 | -€115,840 | -€64,001 | -123.5% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,339 | -€120,340 | -€64,001 | -113.6% |
| Amounts payable | 17/49 | €198,145 | €290,252 | +€92,106 | +46.5% |
| Amounts payable after more than one year | 17 | €177,343 | €275,900 | +€98,557 | +55.6% |
| Financial debts | 170/4 | €177,343 | €275,900 | +€98,557 | +55.6% |
| Amounts payable within one year | 42/48 | €20,802 | €14,351 | -€6,451 | -31.0% |
| Current portion of amounts payable after more than one year | 42 | €7,864 | €8,222 | +€358 | +4.6% |
| Trade debts | 44 | €3,158 | €1,137 | -€2,020 | -64.0% |
| Suppliers | 440/4 | €3,158 | €1,137 | -€2,020 | -64.0% |
| Taxes, remuneration and social security | 45 | €1,187 | €1,694 | +€507 | +42.7% |
| Taxes | 450/3 | €1,187 | €1,694 | +€507 | +42.7% |
| Other amounts payable | 47/48 | €8,594 | €3,298 | -€5,296 | -61.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,819 | €29,838 | +€17,018 | +132.8% |
| Other operating charges | 640/8 | €552 | €641 | +€89 | +16.2% |
| Gross operating margin | 9900 | -€41,265 | -€31,611 | +€9,654 | +23.4% |
| Operating profit (loss) | 9901 | -€54,635 | -€62,089 | -€7,454 | -13.6% |
| Financial income | 75/76B | €73 | €586 | +€512 | +699.6% |
| Recurring financial income | 75 | €73 | €586 | +€512 | +699.6% |
| Financial charges | 65/66B | €1,660 | €2,365 | +€705 | +42.5% |
| Recurring financial charges | 65 | €1,660 | €2,365 | +€705 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | -€56,222 | -€63,869 | -€7,647 | -13.6% |
| Income taxes | 67/77 | €117 | €132 | +€15 | +12.8% |
| Profit (loss) for the period | 9904 | -€56,339 | -€64,001 | -€7,661 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,339 | -€64,001 | -€7,661 | -13.6% |
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 10 October 2026 via checked.be.