RLK: 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.
RLK
Largest movements
- Tangible fixed assets +€319,674
up €319,674 (+580.8%), from €55,045 to €374,719
of which Land and buildings: +€321,904
- Cash -€63,264
down €63,264 (-71.0%), from €89,056 to €25,792
mainly Investment in fixed assets (net) (-€344,780) and Trade debts (-€8,775)
- Receivables within one year -€4,819
down €4,819 (-28.5%), from €16,927 to €12,108
of which Trade receivables: -€6,977
- Debts after one year +€233,423
up €233,423 (+2846.6%), from €8,200 to €241,623
- Current portion of long-term debt +€13,208
new in 2025: €13,208
- Reserves +€11,000
up €11,000 (+10.5%), from €105,200 to €116,200
- Trade debts -€8,775
down €8,775 (-53.4%), from €16,418 to €7,643
- Other debts +€8,740
up €8,740 (+112.9%), from €7,741 to €16,481
- Gross operating margin -€15,786
down €15,786 (-24.0%), from €65,677 to €49,891
- Taxes -€10,719
down €10,719 (-71.6%), from €14,962 to €4,243
- Depreciation +€10,040
up €10,040 (+66.6%), from €15,066 to €25,106
- Financial charges +€6,490
up €6,490 (+2348.0%), from €276 to €6,767
- Other operating charges +€1,556
up €1,556 (+129.5%), from €1,202 to €2,757
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 | €163,248 | €413,818 | +€250,571 | +153.5% |
| Fixed assets | 21/28 | €55,045 | €374,719 | +€319,674 | +580.8% |
| Tangible fixed assets | 22/27 | €55,045 | €374,719 | +€319,674 | +580.8% |
| Land and buildings | 22 | - | €321,904 | +€321,904 | |
| Plant, machinery and equipment | 23 | €22,882 | €28,371 | +€5,489 | +24.0% |
| Furniture and vehicles | 24 | €32,163 | €24,444 | -€7,719 | -24.0% |
| Current assets | 29/58 | €108,203 | €39,100 | -€69,103 | -63.9% |
| Stocks and contracts in progress | 3 | €800 | €1,200 | +€400 | +50.0% |
| Stocks | 30/36 | €800 | €1,200 | +€400 | +50.0% |
| Amounts receivable within one year | 40/41 | €16,927 | €12,108 | -€4,819 | -28.5% |
| Trade receivables | 40 | €16,927 | €9,951 | -€6,977 | -41.2% |
| Other amounts receivable | 41 | - | €2,157 | +€2,157 | |
| Cash at bank and in hand | 54/58 | €89,056 | €25,792 | -€63,264 | -71.0% |
| Deferred charges and accrued income | 490/1 | €1,420 | - | -€1,420 | |
| Total equity and liabilities | 10/49 | €163,248 | €413,818 | +€250,571 | +153.5% |
| Equity | 10/15 | €115,838 | €126,856 | +€11,018 | +9.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €105,200 | €116,200 | +€11,000 | +10.5% |
| Distributable reserves | 133 | €105,200 | €116,200 | +€11,000 | +10.5% |
| Profit (loss) carried forward | 14 | €8,638 | €8,656 | +€18 | +0.2% |
| Amounts payable | 17/49 | €47,410 | €286,962 | +€239,552 | +505.3% |
| Amounts payable after more than one year | 17 | €8,200 | €241,623 | +€233,423 | +2846.6% |
| Financial debts | 170/4 | €8,200 | €241,623 | +€233,423 | +2846.6% |
| Amounts payable within one year | 42/48 | €37,149 | €43,929 | +€6,780 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | - | €13,208 | +€13,208 | |
| Trade debts | 44 | €16,418 | €7,643 | -€8,775 | -53.4% |
| Suppliers | 440/4 | €16,418 | €7,643 | -€8,775 | -53.4% |
| Taxes, remuneration and social security | 45 | €12,990 | €6,597 | -€6,393 | -49.2% |
| Taxes | 450/3 | €10,063 | €3,643 | -€6,420 | -63.8% |
| Remuneration and social security | 454/9 | €2,927 | €2,954 | +€27 | +0.9% |
| Other amounts payable | 47/48 | €7,741 | €16,481 | +€8,740 | +112.9% |
| Accrued charges and deferred income | 492/3 | €2,062 | €1,411 | -€651 | -31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,066 | €25,106 | +€10,040 | +66.6% |
| Other operating charges | 640/8 | €1,202 | €2,757 | +€1,556 | +129.5% |
| Gross operating margin | 9900 | €65,677 | €49,891 | -€15,786 | -24.0% |
| Operating profit (loss) | 9901 | €49,409 | €22,028 | -€27,381 | -55.4% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €276 | €6,767 | +€6,490 | +2348.0% |
| Recurring financial charges | 65 | €276 | €6,767 | +€6,490 | +2348.0% |
| Profit (loss) for the period before taxes | 9903 | €49,136 | €15,261 | -€33,875 | -68.9% |
| Income taxes | 67/77 | €14,962 | €4,243 | -€10,719 | -71.6% |
| Profit (loss) for the period | 9904 | €34,174 | €11,018 | -€23,155 | -67.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,174 | €11,018 | -€23,155 | -67.8% |
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 30 September 2026 via checked.be.