RELEVENT: 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.
RELEVENT
Largest movements
- Receivables within one year +€73,953
up €73,953 (+7.7%), from €959,196 to €1.0m
of which Trade receivables: +€71,146
- Other debts +€408,986
up €408,986 (+596.4%), from €68,577 to €477,563
- Advances received -€309,201
down €309,201 (-47.4%), from €652,817 to €343,616
- Trade debts -€161,567
down €161,567 (-67.0%), from €241,206 to €79,639
- Tax, wage and social debts +€110,486
up €110,486 (+209.4%), from €52,768 to €163,254
- Debts after one year -€57,986
down €57,986 (-66.1%), from €87,718 to €29,732
- Gross operating margin -€24,264
down €24,264 (-33.6%), from €72,112 to €47,848
- Taxes -€13,628
down €13,628 (-51.8%), from €26,296 to €12,668
- Other operating charges +€9,570
up €9,570 (+1263.9%), from €757 to €10,327
- Financial charges +€3,131
up €3,131 (+175.4%), from €1,785 to €4,916
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 | €1,104,982 | €1,181,670 | +€76,687 | +6.9% |
| Fixed assets | 21/28 | €27,717 | €20,807 | -€6,910 | -24.9% |
| Intangible fixed assets | 21 | €83 | €0 | -€83 | -100.0% |
| Tangible fixed assets | 22/27 | €27,633 | €20,807 | -€6,827 | -24.7% |
| Plant, machinery and equipment | 23 | €3,315 | €2,499 | -€816 | -24.6% |
| Furniture and vehicles | 24 | €24,319 | €18,307 | -€6,011 | -24.7% |
| Current assets | 29/58 | €1,077,266 | €1,160,863 | +€83,598 | +7.8% |
| Amounts receivable within one year | 40/41 | €959,196 | €1,033,149 | +€73,953 | +7.7% |
| Trade receivables | 40 | €953,847 | €1,024,993 | +€71,146 | +7.5% |
| Other amounts receivable | 41 | €5,349 | €8,156 | +€2,807 | +52.5% |
| Cash at bank and in hand | 54/58 | €8,214 | €19,648 | +€11,434 | +139.2% |
| Deferred charges and accrued income | 490/1 | €109,856 | €108,067 | -€1,789 | -1.6% |
| Total equity and liabilities | 10/49 | €1,104,982 | €1,181,670 | +€76,687 | +6.9% |
| Equity | 10/15 | €1,624 | €12,919 | +€11,295 | +695.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,376 | €9,919 | +€11,295 | |
| Amounts payable | 17/49 | €1,103,358 | €1,168,751 | +€65,393 | +5.9% |
| Amounts payable after more than one year | 17 | €87,718 | €29,732 | -€57,986 | -66.1% |
| Financial debts | 170/4 | €87,718 | €29,732 | -€57,986 | -66.1% |
| Amounts payable within one year | 42/48 | €1,015,640 | €1,088,273 | +€72,633 | +7.2% |
| Financial debts | 43 | €272 | €24,202 | +€23,930 | +8810.4% |
| Credit institutions | 430/8 | €272 | €24,202 | +€23,930 | +8810.4% |
| Trade debts | 44 | €241,206 | €79,639 | -€161,567 | -67.0% |
| Suppliers | 440/4 | €241,206 | €79,639 | -€161,567 | -67.0% |
| Advances received on contracts in progress | 46 | €652,817 | €343,616 | -€309,201 | -47.4% |
| Taxes, remuneration and social security | 45 | €52,768 | €163,254 | +€110,486 | +209.4% |
| Taxes | 450/3 | €52,768 | €163,254 | +€110,486 | +209.4% |
| Other amounts payable | 47/48 | €68,577 | €477,563 | +€408,986 | +596.4% |
| Accrued charges and deferred income | 492/3 | - | €50,746 | +€50,746 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,209 | €8,809 | +€601 | +7.3% |
| Other operating charges | 640/8 | €757 | €10,327 | +€9,570 | +1263.9% |
| Gross operating margin | 9900 | €72,112 | €47,848 | -€24,264 | -33.6% |
| Operating profit (loss) | 9901 | €63,146 | €28,711 | -€34,435 | -54.5% |
| Financial income | 75/76B | €4 | €168 | +€164 | +4250.6% |
| Recurring financial income | 75 | €4 | €168 | +€164 | +4250.6% |
| Financial charges | 65/66B | €1,785 | €4,916 | +€3,131 | +175.4% |
| Recurring financial charges | 65 | €1,785 | €4,916 | +€3,131 | +175.4% |
| Profit (loss) for the period before taxes | 9903 | €61,365 | €23,963 | -€37,402 | -61.0% |
| Income taxes | 67/77 | €26,296 | €12,668 | -€13,628 | -51.8% |
| Profit (loss) for the period | 9904 | €35,068 | €11,295 | -€23,774 | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,068 | €11,295 | -€23,774 | -67.8% |
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 7 October 2026 via checked.be.