Relayer & Relier: 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.
Relayer & Relier
Largest movements
- Receivables within one year +€21,141
up €21,141 (+85.0%), from €24,880 to €46,021
of which Other amounts receivable: +€26,353
- Cash -€13,365
down €13,365 (-64.9%), from €20,586 to €7,221
mainly Receivables within one year (-€21,141) and Other debts (-€3,721)
- Reserves +€17,272
up €17,272 (+80.0%), from €21,579 to €38,852
- Other debts -€3,721
no longer reported in 2025 (was €3,721)
- Trade debts -€3,612
down €3,612 (-58.8%), from €6,148 to €2,536
- Tax, wage and social debts -€2,520
down €2,520 (-24.7%), from €10,185 to €7,665
- Gross operating margin -€5,367
down €5,367 (-18.8%), from €28,505 to €23,138
- Taxes -€794
down €794 (-12.0%), from €6,606 to €5,812
- Financial income +€336
up €336 (+768.4%), from €44 to €379
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 | €46,634 | €54,053 | +€7,419 | +15.9% |
| Fixed assets | 21/28 | €1,168 | €811 | -€357 | -30.5% |
| Tangible fixed assets | 22/27 | €768 | €411 | -€357 | -46.4% |
| Furniture and vehicles | 24 | €768 | €411 | -€357 | -46.4% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €45,466 | €53,241 | +€7,776 | +17.1% |
| Amounts receivable within one year | 40/41 | €24,880 | €46,021 | +€21,141 | +85.0% |
| Trade receivables | 40 | €24,880 | €19,668 | -€5,212 | -20.9% |
| Other amounts receivable | 41 | - | €26,353 | +€26,353 | |
| Cash at bank and in hand | 54/58 | €20,586 | €7,221 | -€13,365 | -64.9% |
| Total equity and liabilities | 10/49 | €46,634 | €54,053 | +€7,419 | +15.9% |
| Equity | 10/15 | €26,579 | €43,852 | +€17,272 | +65.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €21,579 | €38,852 | +€17,272 | +80.0% |
| Distributable reserves | 133 | €21,579 | €38,852 | +€17,272 | +80.0% |
| Amounts payable | 17/49 | €20,054 | €10,201 | -€9,853 | -49.1% |
| Amounts payable within one year | 42/48 | €20,054 | €10,201 | -€9,853 | -49.1% |
| Trade debts | 44 | €6,148 | €2,536 | -€3,612 | -58.8% |
| Suppliers | 440/4 | €6,148 | €2,536 | -€3,612 | -58.8% |
| Taxes, remuneration and social security | 45 | €10,185 | €7,665 | -€2,520 | -24.7% |
| Taxes | 450/3 | €10,185 | €7,665 | -€2,520 | -24.7% |
| Other amounts payable | 47/48 | €3,721 | - | -€3,721 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €302 | €357 | +€55 | +18.1% |
| Gross operating margin | 9900 | €28,505 | €23,138 | -€5,367 | -18.8% |
| Operating profit (loss) | 9901 | €28,204 | €22,782 | -€5,422 | -19.2% |
| Financial income | 75/76B | €44 | €379 | +€336 | +768.4% |
| Recurring financial income | 75 | €44 | €379 | +€336 | +768.4% |
| Financial charges | 65/66B | €62 | €77 | +€15 | +24.1% |
| Recurring financial charges | 65 | €62 | €77 | +€15 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €28,185 | €23,084 | -€5,101 | -18.1% |
| Income taxes | 67/77 | €6,606 | €5,812 | -€794 | -12.0% |
| Profit (loss) for the period | 9904 | €21,579 | €17,272 | -€4,307 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,579 | €17,272 | -€4,307 | -20.0% |
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 5 October 2026 via checked.be.