ReLo Holding: what changed
ReLo Holding
Largest movements
- Financial fixed assets +€300,000
up €300,000 (+300%), from €100,000 to €400,000
- Receivables within one year +€9,087
up €9,087 (+41.7%), from €21,780 to €30,867
- Cash -€7,432
down €7,432 (-76.8%), from €9,678 to €2,245
mainly Investment in fixed assets (net) (-€304,651) and Receivables within one year (-€9,087)
- Debts after one year +€238,266
new in 2025: €238,266
- Current portion of long-term debt +€35,883
new in 2025: €35,883
- Profit (loss) carried forward +€30,198
up €30,198 (+163%), from €18,575 to €48,773
- Tax, wage and social debts +€12,236
up €12,236 (+96.7%), from €12,651 to €24,887
of which Taxes: +€15,432
- Other debts -€8,292
down €8,292 (-8.3%), from €100,000 to €91,708
- Gross operating margin +€26,267
up €26,267 (+112%), from €23,467 to €49,734
- Financial charges +€7,980
up €7,980 (+32,854%), from €24 to €8,005
- Taxes +€6,053
up €6,053 (+129%), from €4,709 to €10,762
- Depreciation +€784
new in 2025: €784
- Financial income +€522
new in 2025: €522
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €133,747 | €442,017 | +€308,270 | +230% |
| Fixed assets | 21/28 | €102,289 | €406,156 | +€303,867 | +297% |
| Tangible fixed assets | 22/27 | €2,289 | €6,156 | +€3,867 | +169% |
| Plant, machinery and equipment | 23 | €2,289 | €1,831 | -€458 | -20.0% |
| Furniture and vehicles | 24 | - | €4,325 | +€4,325 | |
| Financial fixed assets | 28 | €100,000 | €400,000 | +€300,000 | +300% |
| Current assets | 29/58 | €31,458 | €35,860 | +€4,403 | +14.0% |
| Amounts receivable within one year | 40/41 | €21,780 | €30,867 | +€9,087 | +41.7% |
| Trade receivables | 40 | €21,780 | €30,867 | +€9,087 | +41.7% |
| Cash at bank and in hand | 54/58 | €9,678 | €2,245 | -€7,432 | -76.8% |
| Deferred charges and accrued income | 490/1 | - | €2,748 | +€2,748 | |
| Total equity and liabilities | 10/49 | €133,747 | €442,017 | +€308,270 | +230% |
| Equity | 10/15 | €21,075 | €51,273 | +€30,198 | +143% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,575 | €48,773 | +€30,198 | +163% |
| Amounts payable | 17/49 | €112,672 | €390,744 | +€278,072 | +247% |
| Amounts payable after more than one year | 17 | - | €238,266 | +€238,266 | |
| Financial debts | 170/4 | - | €238,266 | +€238,266 | |
| Amounts payable within one year | 42/48 | €112,672 | €152,477 | +€39,805 | +35.3% |
| Current portion of amounts payable after more than one year | 42 | - | €35,883 | +€35,883 | |
| Trade debts | 44 | €21 | - | -€21 | |
| Suppliers | 440/4 | €21 | - | -€21 | |
| Taxes, remuneration and social security | 45 | €12,651 | €24,887 | +€12,236 | +96.7% |
| Taxes | 450/3 | €9,455 | €24,887 | +€15,432 | +163% |
| Remuneration and social security | 454/9 | €3,196 | - | -€3,196 | |
| Other amounts payable | 47/48 | €100,000 | €91,708 | -€8,292 | -8.3% |
| Non-recurring operating income | 76A | - | €12,625 | +€12,625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €784 | +€784 | |
| Other operating charges | 640/8 | €159 | €507 | +€348 | +219% |
| Gross operating margin | 9900 | €23,467 | €49,734 | +€26,267 | +112% |
| Operating profit (loss) | 9901 | €23,308 | €48,443 | +€25,135 | +108% |
| Financial income | 75/76B | - | €522 | +€522 | |
| Recurring financial income | 75 | - | €522 | +€522 | |
| Financial charges | 65/66B | €24 | €8,005 | +€7,980 | +32,854% |
| Recurring financial charges | 65 | €24 | €8,005 | +€7,980 | +32,854% |
| Profit (loss) for the period before taxes | 9903 | €23,284 | €40,960 | +€17,676 | +75.9% |
| Income taxes | 67/77 | €4,709 | €10,762 | +€6,053 | +129% |
| Profit (loss) for the period | 9904 | €18,575 | €30,198 | +€11,623 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,575 | €30,198 | +€11,623 | +62.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.