RELUMCO: 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.
RELUMCO
Largest movements
- Tangible fixed assets -€24,506
down €24,506 (-9.8%), from €250,094 to €225,588
of which Land and buildings: -€13,231
- Cash -€22,370
down €22,370 (-96.4%), from €23,216 to €846
mainly Net result for the year (-€44,615) and Debts after one year (-€42,363)
- Receivables within one year -€9,375
down €9,375 (-16.7%), from €56,243 to €46,868
of which Trade receivables: -€10,400
- Stocks and contracts -€7,209
down €7,209 (-52.0%), from €13,851 to €6,643
- Intangible fixed assets -€5,632
down €5,632 (-21.4%), from €26,381 to €20,749
- Profit (loss) carried forward -€44,615
down €44,615 (-62.9%), from €70,908 to €26,293
- Debts after one year -€42,363
down €42,363 (-20.9%), from €202,846 to €160,482
- Short-term financial debts +€13,561
up €13,561 (+34.0%), from €39,917 to €53,479
of which Other loans: +€10,500
- Other debts +€11,799
up €11,799 (+466.3%), from €2,530 to €14,329
- Trade debts -€7,970
down €7,970 (-43.2%), from €18,462 to €10,493
- Depreciation +€3,941
up €3,941 (+10.7%), from €36,766 to €40,707
- Financial income -€2,436
down €2,436 (-59.9%), from €4,069 to €1,634
- Financial charges -€1,141
down €1,141 (-17.5%), from €6,539 to €5,398
- Other operating charges -€820
down €820 (-34.7%), from €2,360 to €1,540
- Gross operating margin +€723
up €723 (+73.8%), from €981 to €1,704
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 | €371,431 | €302,657 | -€68,774 | -18.5% |
| Fixed assets | 21/28 | €276,475 | €246,336 | -€30,139 | -10.9% |
| Intangible fixed assets | 21 | €26,381 | €20,749 | -€5,632 | -21.4% |
| Tangible fixed assets | 22/27 | €250,094 | €225,588 | -€24,506 | -9.8% |
| Land and buildings | 22 | €184,918 | €171,686 | -€13,231 | -7.2% |
| Plant, machinery and equipment | 23 | €29,245 | €29,157 | -€88 | -0.3% |
| Furniture and vehicles | 24 | €35,932 | €24,744 | -€11,187 | -31.1% |
| Current assets | 29/58 | €94,956 | €56,321 | -€38,635 | -40.7% |
| Stocks and contracts in progress | 3 | €13,851 | €6,643 | -€7,209 | -52.0% |
| Stocks | 30/36 | €13,851 | €6,643 | -€7,209 | -52.0% |
| Amounts receivable within one year | 40/41 | €56,243 | €46,868 | -€9,375 | -16.7% |
| Trade receivables | 40 | €49,424 | €39,025 | -€10,400 | -21.0% |
| Other amounts receivable | 41 | €6,819 | €7,844 | +€1,025 | +15.0% |
| Cash at bank and in hand | 54/58 | €23,216 | €846 | -€22,370 | -96.4% |
| Deferred charges and accrued income | 490/1 | €1,646 | €1,965 | +€319 | +19.4% |
| Total equity and liabilities | 10/49 | €371,431 | €302,657 | -€68,774 | -18.5% |
| Equity | 10/15 | €91,368 | €46,753 | -€44,615 | -48.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,908 | €26,293 | -€44,615 | -62.9% |
| Amounts payable | 17/49 | €280,063 | €255,904 | -€24,159 | -8.6% |
| Amounts payable after more than one year | 17 | €202,846 | €160,482 | -€42,363 | -20.9% |
| Financial debts | 170/4 | €202,846 | €160,482 | -€42,363 | -20.9% |
| Amounts payable within one year | 42/48 | €77,218 | €94,871 | +€17,653 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €13,863 | €13,863 | +€0 | 0.0% |
| Financial debts | 43 | €39,917 | €53,479 | +€13,561 | +34.0% |
| Credit institutions | 430/8 | €32,417 | €35,479 | +€3,061 | +9.4% |
| Other loans | 439 | €7,500 | €18,000 | +€10,500 | +140.0% |
| Trade debts | 44 | €18,462 | €10,493 | -€7,970 | -43.2% |
| Suppliers | 440/4 | €18,462 | €10,493 | -€7,970 | -43.2% |
| Taxes, remuneration and social security | 45 | €2,445 | €2,707 | +€262 | +10.7% |
| Taxes | 450/3 | €2,445 | €2,707 | +€262 | +10.7% |
| Other amounts payable | 47/48 | €2,530 | €14,329 | +€11,799 | +466.3% |
| Accrued charges and deferred income | 492/3 | - | €551 | +€551 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,766 | €40,707 | +€3,941 | +10.7% |
| Other operating charges | 640/8 | €2,360 | €1,540 | -€820 | -34.7% |
| Gross operating margin | 9900 | €981 | €1,704 | +€723 | +73.8% |
| Operating profit (loss) | 9901 | -€38,146 | -€40,543 | -€2,398 | -6.3% |
| Financial income | 75/76B | €4,069 | €1,634 | -€2,436 | -59.9% |
| Recurring financial income | 75 | €4,069 | €1,634 | -€2,436 | -59.9% |
| Financial charges | 65/66B | €6,539 | €5,398 | -€1,141 | -17.5% |
| Recurring financial charges | 65 | €6,539 | €5,398 | -€1,141 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | -€40,615 | -€44,307 | -€3,692 | -9.1% |
| Income taxes | 67/77 | €288 | €308 | +€20 | +6.8% |
| Profit (loss) for the period | 9904 | -€40,903 | -€44,615 | -€3,712 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,903 | -€44,615 | -€3,712 | -9.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.