RL-G&A: 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.
RL-G&A
Largest movements
- Tangible fixed assets +€34,094
up €34,094 (+31.2%), from €109,303 to €143,397
of which Furniture and vehicles: +€37,727
- Receivables within one year +€24,690
up €24,690 (+24.6%), from €100,401 to €125,091
of which Trade receivables: +€31,025
- Deferred charges and accrued income -€7,655
down €7,655 (-67.6%), from €11,324 to €3,669
- Cash -€7,194
down €7,194 (-83.1%), from €8,654 to €1,460
mainly Investment in fixed assets (net) (-€89,802) and Receivables within one year (-€24,690)
- Trade debts +€39,806
up €39,806 (+350%), from €11,387 to €51,193
- Debts after one year +€15,310
up €15,310 (+42.9%), from €35,652 to €50,962
- Tax, wage and social debts -€8,646
down €8,646 (-67.0%), from €12,900 to €4,254
- Reserves +€6,799
up €6,799 (+6.0%), from €112,769 to €119,568
- Current portion of long-term debt -€4,674
down €4,674 (-17.7%), from €26,379 to €21,705
- Other operating charges +€6,973
up €6,973 (+149%), from €4,668 to €11,641
- Depreciation -€4,771
down €4,771 (-8.2%), from €57,929 to €53,158
- Financial charges -€2,740
down €2,740 (-51.0%), from €5,377 to €2,638
- Gross operating margin -€2,586
down €2,586 (-3.4%), from €76,042 to €73,456
- Financial income -€1,531
down €1,531 (-100.0%), from €1,532 to €1
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 | €229,816 | €276,302 | +€46,485 | +20.2% |
| Fixed assets | 21/28 | €109,438 | €146,082 | +€36,644 | +33.5% |
| Tangible fixed assets | 22/27 | €109,303 | €143,397 | +€34,094 | +31.2% |
| Plant, machinery and equipment | 23 | €42,938 | €33,057 | -€9,881 | -23.0% |
| Furniture and vehicles | 24 | €4,592 | €42,319 | +€37,727 | +822% |
| Leasing and similar rights | 25 | €61,773 | €68,020 | +€6,248 | +10.1% |
| Financial fixed assets | 28 | €135 | €2,685 | +€2,550 | +1,889% |
| Current assets | 29/58 | €120,379 | €130,220 | +€9,841 | +8.2% |
| Amounts receivable within one year | 40/41 | €100,401 | €125,091 | +€24,690 | +24.6% |
| Trade receivables | 40 | €93,681 | €124,707 | +€31,025 | +33.1% |
| Other amounts receivable | 41 | €6,720 | €384 | -€6,336 | -94.3% |
| Cash at bank and in hand | 54/58 | €8,654 | €1,460 | -€7,194 | -83.1% |
| Deferred charges and accrued income | 490/1 | €11,324 | €3,669 | -€7,655 | -67.6% |
| Total equity and liabilities | 10/49 | €229,816 | €276,302 | +€46,485 | +20.2% |
| Equity | 10/15 | €129,568 | €134,135 | +€4,567 | +3.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €112,769 | €119,568 | +€6,799 | +6.0% |
| Distributable reserves | 133 | €112,769 | €119,568 | +€6,799 | +6.0% |
| Profit (loss) carried forward | 14 | €6,799 | €4,567 | -€2,231 | -32.8% |
| Amounts payable | 17/49 | €100,248 | €142,166 | +€41,918 | +41.8% |
| Amounts payable after more than one year | 17 | €35,652 | €50,962 | +€15,310 | +42.9% |
| Financial debts | 170/4 | €35,652 | €50,962 | +€15,310 | +42.9% |
| Amounts payable within one year | 42/48 | €64,596 | €91,204 | +€26,608 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €26,379 | €21,705 | -€4,674 | -17.7% |
| Trade debts | 44 | €11,387 | €51,193 | +€39,806 | +350% |
| Suppliers | 440/4 | €11,387 | €51,193 | +€39,806 | +350% |
| Taxes, remuneration and social security | 45 | €12,900 | €4,254 | -€8,646 | -67.0% |
| Taxes | 450/3 | €12,900 | €4,254 | -€8,646 | -67.0% |
| Other amounts payable | 47/48 | €13,931 | €14,052 | +€121 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,929 | €53,158 | -€4,771 | -8.2% |
| Other operating charges | 640/8 | €4,668 | €11,641 | +€6,973 | +149% |
| Gross operating margin | 9900 | €76,042 | €73,456 | -€2,586 | -3.4% |
| Operating profit (loss) | 9901 | €13,445 | €8,657 | -€4,789 | -35.6% |
| Financial income | 75/76B | €1,532 | €1 | -€1,531 | -100.0% |
| Recurring financial income | 75 | €1,532 | €1 | -€1,531 | -100.0% |
| Financial charges | 65/66B | €5,377 | €2,638 | -€2,740 | -51.0% |
| Recurring financial charges | 65 | €5,377 | €2,638 | -€2,740 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | €9,600 | €6,020 | -€3,581 | -37.3% |
| Income taxes | 67/77 | €2,801 | €1,452 | -€1,349 | -48.2% |
| Profit (loss) for the period | 9904 | €6,799 | €4,567 | -€2,231 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,799 | €4,567 | -€2,231 | -32.8% |
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 13 October 2026 via checked.be.