RELINOR: 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.
RELINOR
Largest movements
- Current investments +€350,000
new in 2025: €350,000
- Cash -€285,550
down €285,550 (-80.4%), from €355,346 to €69,795
mainly Current investments (-€350,000) and Contributions, distributions and other (-€350,000)
- Tangible fixed assets -€16,021
down €16,021 (-39.0%), from €41,107 to €25,086
of which Furniture and vehicles: -€14,335
- Other debts +€34,106
up €34,106 (+12.3%), from €277,281 to €311,387
- Profit (loss) carried forward +€21,455
up €21,455 (+4.3%), from €495,085 to €516,540
- Debts after one year -€14,245
down €14,245 (-79.9%), from €17,830 to €3,585
- Financial income +€51,934
up €51,934 (+18.5%), from €280,006 to €331,940
- Financial charges +€9,125
up €9,125 (+1,757%), from €519 to €9,644
- Gross operating margin +€4,448
up €4,448 (+5.8%), from €77,018 to €81,466
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.
Derived cash bridge
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 | €896,452 | €944,951 | +€48,499 | +5.4% |
| Fixed assets | 21/28 | €541,107 | €525,086 | -€16,021 | -3.0% |
| Tangible fixed assets | 22/27 | €41,107 | €25,086 | -€16,021 | -39.0% |
| Plant, machinery and equipment | 23 | €2,513 | €1,719 | -€794 | -31.6% |
| Furniture and vehicles | 24 | €33,731 | €19,396 | -€14,335 | -42.5% |
| Other tangible fixed assets | 26 | €4,863 | €3,971 | -€892 | -18.3% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €355,346 | €419,865 | +€64,519 | +18.2% |
| Current investments | 50/53 | - | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €355,346 | €69,795 | -€285,550 | -80.4% |
| Deferred charges and accrued income | 490/1 | - | €70 | +€70 | |
| Total equity and liabilities | 10/49 | €896,452 | €944,951 | +€48,499 | +5.4% |
| Equity | 10/15 | €516,163 | €537,618 | +€21,455 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,478 | €2,478 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €618 | €618 | = | 0.0% |
| Profit (loss) carried forward | 14 | €495,085 | €516,540 | +€21,455 | +4.3% |
| Amounts payable | 17/49 | €380,289 | €407,333 | +€27,043 | +7.1% |
| Amounts payable after more than one year | 17 | €17,830 | €3,585 | -€14,245 | -79.9% |
| Financial debts | 170/4 | €17,830 | €3,585 | -€14,245 | -79.9% |
| Amounts payable within one year | 42/48 | €362,459 | €397,284 | +€34,825 | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €14,092 | €14,245 | +€153 | +1.1% |
| Trade debts | 44 | €4,359 | €4,248 | -€111 | -2.5% |
| Suppliers | 440/4 | €4,359 | €4,248 | -€111 | -2.5% |
| Taxes, remuneration and social security | 45 | €66,726 | €67,403 | +€677 | +1.0% |
| Taxes | 450/3 | €63,547 | €67,403 | +€3,857 | +6.1% |
| Remuneration and social security | 454/9 | €3,180 | - | -€3,180 | |
| Other amounts payable | 47/48 | €277,281 | €311,387 | +€34,106 | +12.3% |
| Accrued charges and deferred income | 492/3 | - | €6,464 | +€6,464 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,807 | €16,021 | +€214 | +1.4% |
| Other operating charges | 640/8 | €1,195 | €1,125 | -€70 | -5.9% |
| Gross operating margin | 9900 | €77,018 | €81,466 | +€4,448 | +5.8% |
| Operating profit (loss) | 9901 | €60,016 | €64,320 | +€4,304 | +7.2% |
| Financial income | 75/76B | €280,006 | €331,940 | +€51,934 | +18.5% |
| Recurring financial income | 75 | €280,006 | €331,940 | +€51,934 | +18.5% |
| Financial charges | 65/66B | €519 | €9,644 | +€9,125 | +1,757% |
| Recurring financial charges | 65 | €519 | €9,644 | +€9,125 | +1,757% |
| Profit (loss) for the period before taxes | 9903 | €339,502 | €386,616 | +€47,113 | +13.9% |
| Income taxes | 67/77 | €15,538 | €15,160 | -€378 | -2.4% |
| Profit (loss) for the period | 9904 | €323,964 | €371,455 | +€47,491 | +14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €323,964 | €371,455 | +€47,491 | +14.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.