RELSTIN: 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.
RELSTIN
Largest movements
- Stocks and contracts -€1,677
down €1,677 (-91.4%), from €1,834 to €157
- Receivables within one year -€1,139
down €1,139 (-73.7%), from €1,546 to €406
of which Other amounts receivable: -€1,139
- Cash -€426
down €426 (-1.9%), from €22,362 to €21,936
mainly Trade debts (-€10,205)
- Trade debts -€10,205
down €10,205 (-92.5%), from €11,034 to €830
- Profit (loss) carried forward +€6,962
up €6,962 (+34.0%), from -€20,453 to -€13,490
- Gross operating margin +€8,238
up €8,238 (+462.0%), from €1,783 to €10,022
- Write-downs +€1,834
new in 2025: €1,834
- Depreciation -€596
no longer reported in 2025 (was €596)
- Financial income -€203
down €203 (-99.0%), from €205 to €2
- Financial charges +€111
up €111 (+11.9%), from €927 to €1,038
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 | €26,041 | €22,799 | -€3,242 | -12.5% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €26,041 | €22,799 | -€3,242 | -12.5% |
| Stocks and contracts in progress | 3 | €1,834 | €157 | -€1,677 | -91.4% |
| Stocks | 30/36 | €1,834 | €157 | -€1,677 | -91.4% |
| Amounts receivable within one year | 40/41 | €1,546 | €406 | -€1,139 | -73.7% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €1,546 | €406 | -€1,139 | -73.7% |
| Cash at bank and in hand | 54/58 | €22,362 | €21,936 | -€426 | -1.9% |
| Deferred charges and accrued income | 490/1 | €300 | €300 | = | 0.0% |
| Total equity and liabilities | 10/49 | €26,041 | €22,799 | -€3,242 | -12.5% |
| Equity | 10/15 | €7 | €6,970 | +€6,962 | +95244.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,453 | -€13,490 | +€6,962 | +34.0% |
| Amounts payable | 17/49 | €26,034 | €15,830 | -€10,205 | -39.2% |
| Amounts payable after more than one year | 17 | €15,000 | €15,000 | = | 0.0% |
| Other amounts payable | 178/9 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,034 | €830 | -€10,205 | -92.5% |
| Trade debts | 44 | €11,034 | €830 | -€10,205 | -92.5% |
| Suppliers | 440/4 | €11,034 | €830 | -€10,205 | -92.5% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €596 | - | -€596 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,834 | +€1,834 | |
| Other operating charges | 640/8 | €186 | €189 | +€4 | +2.0% |
| Non-recurring operating charges | 66A | €441 | - | -€441 | |
| Gross operating margin | 9900 | €1,783 | €10,022 | +€8,238 | +462.0% |
| Operating profit (loss) | 9901 | €561 | €7,998 | +€7,438 | +1326.7% |
| Financial income | 75/76B | €205 | €2 | -€203 | -99.0% |
| Recurring financial income | 75 | €205 | €2 | -€203 | -99.0% |
| Financial charges | 65/66B | €927 | €1,038 | +€111 | +11.9% |
| Recurring financial charges | 65 | €927 | €1,038 | +€111 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | -€162 | €6,962 | +€7,124 | |
| Profit (loss) for the period | 9904 | -€162 | €6,962 | +€7,124 | |
| Profit (loss) for the period to be appropriated | 9905 | -€162 | €6,962 | +€7,124 |
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 4 October 2026 via checked.be.