RELYS: 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.
RELYS
Largest movements
- Receivables within one year +€72,282
up €72,282 (+34.0%), from €212,359 to €284,641
of which Other amounts receivable: +€72,282
- Financial fixed assets +€50,000
up €50,000 (+158%), from €31,600 to €81,600
- Deferred charges and accrued income +€11,051
up €11,051 (+449%), from €2,463 to €13,514
- Tangible fixed assets -€10,318
down €10,318 (-35.1%), from €29,361 to €19,044
of which Leasing and similar rights: -€9,552
- Other debts +€278,810
up €278,810 (+539%), from €51,722 to €330,532
- Reserves -€125,000
no longer reported in 2025 (was €125,000)
- Profit (loss) carried forward -€46,917
down €46,917 (-87.5%), from €53,610 to €6,694
- Tax, wage and social debts +€21,364
up €21,364 (+179%), from €11,924 to €33,288
- Debts after one year -€11,450
down €11,450 (-74.5%), from €15,376 to €3,926
- Gross operating margin -€53,045
down €53,045 (-77.4%), from €68,491 to €15,446
- Taxes -€10,173
down €10,173 (-84.7%), from €12,012 to €1,839
- Financial income +€5,513
up €5,513 (+113%), from €4,859 to €10,372
- Financial charges +€4,705
up €4,705 (+92.5%), from €5,089 to €9,794
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 | €280,337 | €402,106 | +€121,768 | +43.4% |
| Fixed assets | 21/28 | €60,961 | €100,644 | +€39,682 | +65.1% |
| Tangible fixed assets | 22/27 | €29,361 | €19,044 | -€10,318 | -35.1% |
| Plant, machinery and equipment | 23 | €1,242 | €724 | -€518 | -41.7% |
| Furniture and vehicles | 24 | €247 | - | -€247 | |
| Leasing and similar rights | 25 | €27,872 | €18,319 | -€9,552 | -34.3% |
| Financial fixed assets | 28 | €31,600 | €81,600 | +€50,000 | +158% |
| Current assets | 29/58 | €219,376 | €301,462 | +€82,086 | +37.4% |
| Amounts receivable within one year | 40/41 | €212,359 | €284,641 | +€72,282 | +34.0% |
| Trade receivables | 40 | €21,780 | €21,780 | = | 0.0% |
| Other amounts receivable | 41 | €190,579 | €262,861 | +€72,282 | +37.9% |
| Cash at bank and in hand | 54/58 | €4,554 | €3,307 | -€1,247 | -27.4% |
| Deferred charges and accrued income | 490/1 | €2,463 | €13,514 | +€11,051 | +449% |
| Total equity and liabilities | 10/49 | €280,337 | €402,106 | +€121,768 | +43.4% |
| Equity | 10/15 | €182,610 | €10,694 | -€171,917 | -94.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €125,000 | - | -€125,000 | |
| Distributable reserves | 133 | €125,000 | - | -€125,000 | |
| Profit (loss) carried forward | 14 | €53,610 | €6,694 | -€46,917 | -87.5% |
| Amounts payable | 17/49 | €97,727 | €391,412 | +€293,685 | +301% |
| Amounts payable after more than one year | 17 | €15,376 | €3,926 | -€11,450 | -74.5% |
| Financial debts | 170/4 | €15,376 | €3,926 | -€11,450 | -74.5% |
| Amounts payable within one year | 42/48 | €79,330 | €379,281 | +€299,951 | +378% |
| Current portion of amounts payable after more than one year | 42 | €10,973 | €11,450 | +€477 | +4.3% |
| Trade debts | 44 | €4,711 | €4,011 | -€700 | -14.9% |
| Suppliers | 440/4 | €4,711 | €4,011 | -€700 | -14.9% |
| Taxes, remuneration and social security | 45 | €11,924 | €33,288 | +€21,364 | +179% |
| Taxes | 450/3 | €11,924 | €33,288 | +€21,364 | +179% |
| Other amounts payable | 47/48 | €51,722 | €330,532 | +€278,810 | +539% |
| Accrued charges and deferred income | 492/3 | €3,021 | €8,205 | +€5,184 | +172% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,245 | €10,318 | +€73 | +0.7% |
| Other operating charges | 640/8 | €698 | €784 | +€86 | +12.3% |
| Gross operating margin | 9900 | €68,491 | €15,446 | -€53,045 | -77.4% |
| Operating profit (loss) | 9901 | €57,548 | €4,344 | -€53,204 | -92.5% |
| Financial income | 75/76B | €4,859 | €10,372 | +€5,513 | +113% |
| Recurring financial income | 75 | €4,859 | €10,372 | +€5,513 | +113% |
| Financial charges | 65/66B | €5,089 | €9,794 | +€4,705 | +92.5% |
| Recurring financial charges | 65 | €5,089 | €9,794 | +€4,705 | +92.5% |
| Profit (loss) for the period before taxes | 9903 | €57,318 | €4,923 | -€52,395 | -91.4% |
| Income taxes | 67/77 | €12,012 | €1,839 | -€10,173 | -84.7% |
| Profit (loss) for the period | 9904 | €45,306 | €3,083 | -€42,222 | -93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,306 | €3,083 | -€42,222 | -93.2% |
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 20 October 2026 via checked.be.