RELCA: 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.
RELCA
Largest movements
- Cash -€7,492
down €7,492 (-7.8%), from €96,120 to €88,629
mainly Trade debts (-€5,750) and Tax, wage and social debts (-€4,906)
- Stocks and contracts -€3,715
down €3,715 (-4.0%), from €93,917 to €90,203
- Trade debts -€5,750
down €5,750 (-59.4%), from €9,684 to €3,934
- Tax, wage and social debts -€4,906
down €4,906 (-17.5%), from €28,034 to €23,128
of which Remuneration and social security: -€4,506
- Staff costs -€13,485
down €13,485 (-20.7%), from €64,989 to €51,504
- Gross operating margin -€7,121
down €7,121 (-12.1%), from €58,809 to €51,689
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 | €242,287 | €231,264 | -€11,024 | -4.5% |
| Current assets | 29/58 | €242,287 | €231,264 | -€11,024 | -4.5% |
| Stocks and contracts in progress | 3 | €93,917 | €90,203 | -€3,715 | -4.0% |
| Stocks | 30/36 | €93,917 | €90,203 | -€3,715 | -4.0% |
| Amounts receivable within one year | 40/41 | €11,649 | €11,701 | +€52 | +0.4% |
| Trade receivables | 40 | €11,649 | €9,922 | -€1,727 | -14.8% |
| Other amounts receivable | 41 | - | €1,780 | +€1,780 | |
| Current investments | 50/53 | €40,600 | €40,731 | +€131 | +0.3% |
| Cash at bank and in hand | 54/58 | €96,120 | €88,629 | -€7,492 | -7.8% |
| Total equity and liabilities | 10/49 | €242,287 | €231,264 | -€11,024 | -4.5% |
| Equity | 10/15 | €204,569 | €204,202 | -€367 | -0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,369 | €136,002 | -€367 | -0.3% |
| Amounts payable | 17/49 | €37,719 | €27,062 | -€10,657 | -28.3% |
| Amounts payable within one year | 42/48 | €37,719 | €27,062 | -€10,657 | -28.3% |
| Trade debts | 44 | €9,684 | €3,934 | -€5,750 | -59.4% |
| Suppliers | 440/4 | €9,684 | €3,934 | -€5,750 | -59.4% |
| Taxes, remuneration and social security | 45 | €28,034 | €23,128 | -€4,906 | -17.5% |
| Taxes | 450/3 | €497 | €97 | -€400 | -80.5% |
| Remuneration and social security | 454/9 | €27,537 | €23,031 | -€4,506 | -16.4% |
| Remuneration, social security and pensions | 62 | €64,989 | €51,504 | -€13,485 | -20.7% |
| Other operating charges | 640/8 | €497 | €560 | +€62 | +12.5% |
| Gross operating margin | 9900 | €58,809 | €51,689 | -€7,121 | -12.1% |
| Operating profit (loss) | 9901 | -€6,677 | -€375 | +€6,302 | +94.4% |
| Financial income | 75/76B | €698 | €796 | +€98 | +14.0% |
| Recurring financial income | 75 | €698 | €796 | +€98 | +14.0% |
| Financial charges | 65/66B | €724 | €788 | +€64 | +8.8% |
| Recurring financial charges | 65 | €724 | €788 | +€64 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,703 | -€367 | +€6,336 | +94.5% |
| Income taxes | 67/77 | €18 | - | -€18 | |
| Profit (loss) for the period | 9904 | -€6,722 | -€367 | +€6,355 | +94.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,722 | -€367 | +€6,355 | +94.5% |
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 28 September 2026 via checked.be.