Relogeas: 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.
Relogeas
Largest movements
- Receivables within one year -€157,379
down €157,379 (-39.7%), from €395,936 to €238,557
of which Other amounts receivable: -€111,115
- Cash +€126,937
up €126,937 (+64.8%), from €195,869 to €322,806
mainly Receivables within one year (+€157,379) and Depreciation (+€84,753)
- Financial fixed assets +€75,000
up €75,000 (+102%), from €73,712 to €148,712
- Tangible fixed assets +€59,743
up €59,743 (+5.9%), from €1.0m to €1.1m
of which Assets under construction and advance payments: +€132,084
- Reserves +€118,052
up €118,052 (+248%), from €47,534 to €165,586
- Accrued charges and deferred income +€48,586
up €48,586 (+428%), from €11,362 to €59,948
- Profit (loss) carried forward -€39,576
down €39,576 (-17.9%), from €221,037 to €181,461
- Debts within one year +€37,353
up €37,353 (+12.9%), from €288,627 to €325,980
of which Tax, wage and social debts: +€28,425
- Investment grants -€31,168
down €31,168 (-4.6%), from €674,854 to €643,686
- Gross operating margin +€43,072
up €43,072 (+4.7%), from €922,149 to €965,221
- Staff costs +€28,586
up €28,586 (+3.9%), from €740,340 to €768,926
- Purchases and services -€25,952
down €25,952 (-8.3%), from €312,385 to €286,433
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 | €1,692,663 | €1,800,155 | +€107,492 | +6.4% |
| Fixed assets | 21/28 | €1,084,003 | €1,217,154 | +€133,151 | +12.3% |
| Intangible fixed assets | 21 | €2,986 | €1,394 | -€1,592 | -53.3% |
| Tangible fixed assets | 22/27 | €1,007,305 | €1,067,048 | +€59,743 | +5.9% |
| Land and buildings | 22 | €924,609 | €862,356 | -€62,253 | -6.7% |
| Plant, machinery and equipment | 23 | €13,023 | €9,648 | -€3,375 | -25.9% |
| Furniture and vehicles | 24 | €17,985 | €11,272 | -€6,713 | -37.3% |
| Assets under construction and advance payments | 27 | €51,688 | €183,772 | +€132,084 | +256% |
| Financial fixed assets | 28 | €73,712 | €148,712 | +€75,000 | +102% |
| Current assets | 29/58 | €608,660 | €583,001 | -€25,659 | -4.2% |
| Amounts receivable within one year | 40/41 | €395,936 | €238,557 | -€157,379 | -39.7% |
| Trade receivables | 40 | €118,933 | €72,669 | -€46,264 | -38.9% |
| Other amounts receivable | 41 | €277,003 | €165,888 | -€111,115 | -40.1% |
| Cash at bank and in hand | 54/58 | €195,869 | €322,806 | +€126,937 | +64.8% |
| Deferred charges and accrued income | 490/1 | €16,855 | €21,638 | +€4,783 | +28.4% |
| Total equity and liabilities | 10/49 | €1,692,663 | €1,800,155 | +€107,492 | +6.4% |
| Equity | 10/15 | €946,526 | €993,834 | +€47,308 | +5.0% |
| Contributions | 10/11 | €3,101 | €3,101 | = | 0.0% |
| Capital | 10 | €3,101 | €3,101 | = | 0.0% |
| Reserves | 13 | €47,534 | €165,586 | +€118,052 | +248% |
| Profit (loss) carried forward | 14 | €221,037 | €181,461 | -€39,576 | -17.9% |
| Investment grants | 15 | €674,854 | €643,686 | -€31,168 | -4.6% |
| Provisions and deferred taxes | 16 | €26,880 | €26,880 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €26,880 | €26,880 | = | 0.0% |
| Major repairs and maintenance | 162 | €26,880 | €26,880 | = | 0.0% |
| Amounts payable | 17/49 | €719,257 | €779,441 | +€60,184 | +8.4% |
| Amounts payable after more than one year | 17 | €419,268 | €393,513 | -€25,755 | -6.1% |
| Financial debts | 170/4 | €419,268 | €393,513 | -€25,755 | -6.1% |
| Amounts payable within one year | 42/48 | €288,627 | €325,980 | +€37,353 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €27,760 | €25,755 | -€2,005 | -7.2% |
| Trade debts | 44 | €57,839 | €78,905 | +€21,066 | +36.4% |
| Suppliers | 440/4 | €57,839 | €78,905 | +€21,066 | +36.4% |
| Taxes, remuneration and social security | 45 | €102,548 | €130,973 | +€28,425 | +27.7% |
| Taxes | 450/3 | €7,857 | €23,464 | +€15,607 | +199% |
| Remuneration and social security | 454/9 | €94,691 | €107,509 | +€12,818 | +13.5% |
| Accrued charges and deferred income | 492/3 | €11,362 | €59,948 | +€48,586 | +428% |
| Turnover | 70 | €300,675 | €303,465 | +€2,790 | +0.9% |
| Membership fees, donations, legacies and grants | 73 | €910,418 | €933,611 | +€23,193 | +2.5% |
| Non-recurring operating income | 76A | €23,441 | €14,578 | -€8,863 | -37.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €312,385 | €286,433 | -€25,952 | -8.3% |
| Remuneration, social security and pensions | 62 | €740,340 | €768,926 | +€28,586 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,153 | €84,753 | +€3,600 | +4.4% |
| Other operating charges | 640/8 | €16,828 | €17,899 | +€1,071 | +6.4% |
| Non-recurring operating charges | 66A | €73 | - | -€73 | |
| Gross operating margin | 9900 | €922,149 | €965,221 | +€43,072 | +4.7% |
| Operating profit (loss) | 9901 | €89,630 | €93,643 | +€4,013 | +4.5% |
| Financial income | 75/76B | €186 | €10 | -€176 | -94.6% |
| Recurring financial income | 75 | €186 | €10 | -€176 | -94.6% |
| Non-recurring financial income | 76B | €186 | €10 | -€176 | -94.6% |
| Financial charges | 65/66B | €17,744 | €15,179 | -€2,565 | -14.5% |
| Recurring financial charges | 65 | €17,744 | €15,179 | -€2,565 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €72,072 | €78,474 | +€6,402 | +8.9% |
| Profit (loss) for the period | 9904 | €72,072 | €78,474 | +€6,402 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,072 | €78,474 | +€6,402 | +8.9% |
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 25 October 2026 via checked.be.