RELISH: 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.
RELISH
Largest movements
- Tangible fixed assets -€10,282
down €10,282 (-32.0%), from €32,162 to €21,881
of which Furniture and vehicles: -€9,633
- Cash -€7,912
down €7,912 (-32.8%), from €24,135 to €16,224
mainly Trade debts (-€12,049) and Net result for the year (-€8,997)
- Receivables within one year -€5,850
down €5,850 (-11.8%), from €49,426 to €43,576
of which Trade receivables: -€14,458
- Stocks and contracts -€3,000
down €3,000 (-18.7%), from €16,015 to €13,015
- Trade debts -€12,049
down €12,049 (-32.3%), from €37,322 to €25,273
- Profit (loss) carried forward -€8,997
down €8,997 (-26.1%), from €34,467 to €25,469
- Debts after one year -€4,249
down €4,249 (-19.2%), from €22,126 to €17,877
- Tax, wage and social debts -€1,988
down €1,988 (-46.7%), from €4,254 to €2,266
of which Taxes: -€1,113
- Gross operating margin -€26,130
down €26,130 (-78.0%), from €33,506 to €7,375
- Staff costs -€9,874
down €9,874 (-70.5%), from €14,014 to €4,141
- Other operating charges -€4,918
down €4,918 (-97.0%), from €5,071 to €153
- Depreciation +€2,212
up €2,212 (+27.4%), from €8,070 to €10,282
- Taxes -€1,760
down €1,760 (-88.5%), from €1,989 to €229
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 | €122,639 | €95,596 | -€27,043 | -22.1% |
| Fixed assets | 21/28 | €33,062 | €22,781 | -€10,282 | -31.1% |
| Tangible fixed assets | 22/27 | €32,162 | €21,881 | -€10,282 | -32.0% |
| Furniture and vehicles | 24 | €30,639 | €21,005 | -€9,633 | -31.4% |
| Other tangible fixed assets | 26 | €1,524 | €875 | -€648 | -42.5% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €89,577 | €72,815 | -€16,762 | -18.7% |
| Stocks and contracts in progress | 3 | €16,015 | €13,015 | -€3,000 | -18.7% |
| Stocks | 30/36 | €16,015 | €13,015 | -€3,000 | -18.7% |
| Amounts receivable within one year | 40/41 | €49,426 | €43,576 | -€5,850 | -11.8% |
| Trade receivables | 40 | €29,381 | €14,923 | -€14,458 | -49.2% |
| Other amounts receivable | 41 | €20,045 | €28,654 | +€8,608 | +42.9% |
| Cash at bank and in hand | 54/58 | €24,135 | €16,224 | -€7,912 | -32.8% |
| Total equity and liabilities | 10/49 | €122,639 | €95,596 | -€27,043 | -22.1% |
| Equity | 10/15 | €54,927 | €45,929 | -€8,997 | -16.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Share premium | 1100/10 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,467 | €25,469 | -€8,997 | -26.1% |
| Amounts payable | 17/49 | €67,712 | €49,666 | -€18,046 | -26.7% |
| Amounts payable after more than one year | 17 | €22,126 | €17,877 | -€4,249 | -19.2% |
| Financial debts | 170/4 | €22,126 | €17,877 | -€4,249 | -19.2% |
| Amounts payable within one year | 42/48 | €45,586 | €31,789 | -€13,797 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €4,009 | €4,249 | +€240 | +6.0% |
| Trade debts | 44 | €37,322 | €25,273 | -€12,049 | -32.3% |
| Suppliers | 440/4 | €37,322 | €25,273 | -€12,049 | -32.3% |
| Taxes, remuneration and social security | 45 | €4,254 | €2,266 | -€1,988 | -46.7% |
| Taxes | 450/3 | €1,989 | €876 | -€1,113 | -56.0% |
| Remuneration and social security | 454/9 | €2,265 | €1,391 | -€874 | -38.6% |
| Remuneration, social security and pensions | 62 | €14,014 | €4,141 | -€9,874 | -70.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,070 | €10,282 | +€2,212 | +27.4% |
| Other operating charges | 640/8 | €5,071 | €153 | -€4,918 | -97.0% |
| Gross operating margin | 9900 | €33,506 | €7,375 | -€26,130 | -78.0% |
| Operating profit (loss) | 9901 | €6,351 | -€7,200 | -€13,550 | |
| Financial income | 75/76B | €762 | €1,019 | +€257 | +33.7% |
| Recurring financial income | 75 | €762 | €1,019 | +€257 | +33.7% |
| Financial charges | 65/66B | €2,169 | €2,588 | +€419 | +19.3% |
| Recurring financial charges | 65 | €2,169 | €2,588 | +€419 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €4,944 | -€8,768 | -€13,712 | |
| Income taxes | 67/77 | €1,989 | €229 | -€1,760 | -88.5% |
| Profit (loss) for the period | 9904 | €2,955 | -€8,997 | -€11,952 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,955 | -€8,997 | -€11,952 |
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 22 October 2026 via checked.be.