RLC: 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.
RLC
Largest movements
- Tangible fixed assets +€41,554
up €41,554 (+200.7%), from €20,703 to €62,257
- Cash -€38,575
down €38,575 (-12.6%), from €305,130 to €266,555
mainly Contributions, distributions and other (-€61,003) and Investment in fixed assets (net) (-€56,694)
- Deferred charges and accrued income -€10,000
no longer reported in 2025 (was €10,000)
- Other debts -€49,795
no longer reported in 2025 (was €49,795)
- Reserves +€26,746
up €26,746 (+5.4%), from €495,402 to €522,148
of which Distributable reserves: +€26,746
- Debts after one year +€11,061
up €11,061 (+19.8%), from €55,798 to €66,859
- Tax, wage and social debts +€8,693
up €8,693 (+18.7%), from €46,366 to €55,060
of which Remuneration and social security: +€11,600
- Gross operating margin -€24,468
down €24,468 (-15.7%), from €155,487 to €131,020
- Depreciation -€5,557
down €5,557 (-26.8%), from €20,697 to €15,140
- Taxes -€4,735
down €4,735 (-11.9%), from €39,734 to €34,999
- Financial income +€3,925
up €3,925 (+91.2%), from €4,301 to €8,226
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 | €672,055 | €669,443 | -€2,612 | -0.4% |
| Fixed assets | 21/28 | €20,703 | €62,257 | +€41,554 | +200.7% |
| Tangible fixed assets | 22/27 | €20,703 | €62,257 | +€41,554 | +200.7% |
| Furniture and vehicles | 24 | €20,703 | €62,257 | +€41,554 | +200.7% |
| Current assets | 29/58 | €651,352 | €607,186 | -€44,166 | -6.8% |
| Amounts receivable within one year | 40/41 | €86,222 | €90,631 | +€4,409 | +5.1% |
| Trade receivables | 40 | €65,748 | €65,153 | -€595 | -0.9% |
| Other amounts receivable | 41 | €20,474 | €25,478 | +€5,004 | +24.4% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €305,130 | €266,555 | -€38,575 | -12.6% |
| Deferred charges and accrued income | 490/1 | €10,000 | - | -€10,000 | |
| Total equity and liabilities | 10/49 | €672,055 | €669,443 | -€2,612 | -0.4% |
| Equity | 10/15 | €514,002 | €540,748 | +€26,746 | +5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €495,402 | €522,148 | +€26,746 | +5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €493,542 | €520,288 | +€26,746 | +5.4% |
| Amounts payable | 17/49 | €158,053 | €128,695 | -€29,358 | -18.6% |
| Amounts payable after more than one year | 17 | €55,798 | €66,859 | +€11,061 | +19.8% |
| Other amounts payable | 178/9 | €55,798 | €66,859 | +€11,061 | +19.8% |
| Amounts payable within one year | 42/48 | €100,601 | €61,836 | -€38,765 | -38.5% |
| Trade debts | 44 | €4,441 | €6,777 | +€2,336 | +52.6% |
| Suppliers | 440/4 | €4,441 | €6,777 | +€2,336 | +52.6% |
| Taxes, remuneration and social security | 45 | €46,366 | €55,060 | +€8,693 | +18.7% |
| Taxes | 450/3 | €35,566 | €32,660 | -€2,907 | -8.2% |
| Remuneration and social security | 454/9 | €10,800 | €22,400 | +€11,600 | +107.4% |
| Other amounts payable | 47/48 | €49,795 | - | -€49,795 | |
| Accrued charges and deferred income | 492/3 | €1,654 | - | -€1,654 | |
| Non-recurring operating income | 76A | - | €297 | +€297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,697 | €15,140 | -€5,557 | -26.8% |
| Other operating charges | 640/8 | €1,277 | €1,264 | -€13 | -1.0% |
| Gross operating margin | 9900 | €155,487 | €131,020 | -€24,468 | -15.7% |
| Operating profit (loss) | 9901 | €133,514 | €114,615 | -€18,898 | -14.2% |
| Financial income | 75/76B | €4,301 | €8,226 | +€3,925 | +91.2% |
| Recurring financial income | 75 | €4,301 | €8,226 | +€3,925 | +91.2% |
| Financial charges | 65/66B | €277 | €93 | -€184 | -66.6% |
| Recurring financial charges | 65 | €277 | €93 | -€184 | -66.6% |
| Profit (loss) for the period before taxes | 9903 | €137,538 | €122,748 | -€14,790 | -10.8% |
| Income taxes | 67/77 | €39,734 | €34,999 | -€4,735 | -11.9% |
| Profit (loss) for the period | 9904 | €97,804 | €87,750 | -€10,055 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,804 | €87,750 | -€10,055 | -10.3% |
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.