Rielem: 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.
Rielem
Largest movements
- Tangible fixed assets -€101,040
down €101,040 (-7.5%), from €1.3m to €1.2m
of which Land and buildings: -€71,918
- Cash +€97,304
up €97,304 (+59.9%), from €162,328 to €259,632
mainly Net result for the year (+€109,150) and Depreciation (+€101,040)
- Reserves +€109,150
up €109,150 (+13.3%), from €818,227 to €927,376
of which Distributable reserves: +€119,749
- Debts after one year -€88,595
down €88,595 (-24.0%), from €368,552 to €279,957
- Other debts -€48,500
down €48,500 (-12.3%), from €395,007 to €346,507
- Gross operating margin +€59,432
up €59,432 (+70.9%), from €83,773 to €143,205
- Depreciation +€50,521
up €50,521 (+100.0%), from €50,520 to €101,040
- Financial income +€27,794
up €27,794 (+35.1%), from €79,295 to €107,089
- Taxes +€14,754
up €14,754 (+271.6%), from €5,432 to €20,186
- Financial charges +€8,105
up €8,105 (+76.8%), from €10,560 to €18,665
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 | €1,780,080 | €1,758,645 | -€21,435 | -1.2% |
| Fixed assets | 21/28 | €1,591,053 | €1,490,012 | -€101,040 | -6.4% |
| Tangible fixed assets | 22/27 | €1,340,623 | €1,239,583 | -€101,040 | -7.5% |
| Land and buildings | 22 | €1,298,867 | €1,226,949 | -€71,918 | -5.5% |
| Plant, machinery and equipment | 23 | €41,509 | €12,469 | -€29,040 | -70.0% |
| Furniture and vehicles | 24 | €247 | €164 | -€82 | -33.4% |
| Financial fixed assets | 28 | €250,430 | €250,430 | = | 0.0% |
| Current assets | 29/58 | €189,027 | €268,632 | +€79,605 | +42.1% |
| Amounts receivable within one year | 40/41 | €26,699 | €9,000 | -€17,699 | -66.3% |
| Trade receivables | 40 | - | €9,000 | +€9,000 | |
| Other amounts receivable | 41 | €26,699 | - | -€26,699 | |
| Cash at bank and in hand | 54/58 | €162,328 | €259,632 | +€97,304 | +59.9% |
| Total equity and liabilities | 10/49 | €1,780,080 | €1,758,645 | -€21,435 | -1.2% |
| Equity | 10/15 | €915,822 | €1,024,972 | +€109,150 | +11.9% |
| Contributions | 10/11 | €96,865 | €96,865 | = | 0.0% |
| Reserves | 13 | €818,227 | €927,376 | +€109,150 | +13.3% |
| Tax-exempt reserves | 132 | €63,593 | €52,994 | -€10,599 | -16.7% |
| Distributable reserves | 133 | €754,634 | €874,382 | +€119,749 | +15.9% |
| Profit (loss) carried forward | 14 | €730 | €730 | = | 0.0% |
| Amounts payable | 17/49 | €864,258 | €733,673 | -€130,585 | -15.1% |
| Amounts payable after more than one year | 17 | €368,552 | €279,957 | -€88,595 | -24.0% |
| Financial debts | 170/4 | €368,552 | €279,957 | -€88,595 | -24.0% |
| Amounts payable within one year | 42/48 | €495,706 | €453,716 | -€41,990 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €84,785 | €88,592 | +€3,807 | +4.5% |
| Taxes, remuneration and social security | 45 | €15,915 | €18,618 | +€2,703 | +17.0% |
| Taxes | 450/3 | €15,915 | €18,618 | +€2,703 | +17.0% |
| Other amounts payable | 47/48 | €395,007 | €346,507 | -€48,500 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,520 | €101,040 | +€50,521 | +100.0% |
| Other operating charges | 640/8 | €833 | €1,253 | +€420 | +50.4% |
| Gross operating margin | 9900 | €83,773 | €143,205 | +€59,432 | +70.9% |
| Operating profit (loss) | 9901 | €32,420 | €40,912 | +€8,491 | +26.2% |
| Financial income | 75/76B | €79,295 | €107,089 | +€27,794 | +35.1% |
| Recurring financial income | 75 | €79,295 | €107,089 | +€27,794 | +35.1% |
| Financial charges | 65/66B | €10,560 | €18,665 | +€8,105 | +76.8% |
| Recurring financial charges | 65 | €10,560 | €18,665 | +€8,105 | +76.8% |
| Profit (loss) for the period before taxes | 9903 | €101,156 | €129,336 | +€28,180 | +27.9% |
| Income taxes | 67/77 | €5,432 | €20,186 | +€14,754 | +271.6% |
| Profit (loss) for the period | 9904 | €95,724 | €109,150 | +€13,426 | +14.0% |
| Transfer from tax-exempt reserves | 789 | €5,299 | €10,599 | +€5,299 | +100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,023 | €119,749 | +€18,725 | +18.5% |
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 7 October 2026 via checked.be.