RLS: 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.
RLS
Largest movements
- Tangible fixed assets -€23,487
down €23,487 (-8.6%), from €273,720 to €250,233
of which Land and buildings: -€22,139
- Receivables within one year +€14,404
up €14,404 (+13.5%), from €106,889 to €121,293
of which Trade receivables: +€16,480
- Cash -€13,371
down €13,371 (-31.2%), from €42,921 to €29,550
mainly Net result for the year (-€20,607) and Receivables within one year (-€14,404)
- Deferred charges and accrued income -€5,899
down €5,899 (-66.3%), from €8,901 to €3,002
- Reserves -€20,607
down €20,607 (-5.7%), from €363,700 to €343,093
of which Distributable reserves: -€16,786
- Other debts -€5,117
down €5,117 (-14.1%), from €36,277 to €31,160
- Gross operating margin -€1,686
down €1,686 (-19.1%), from €8,819 to €7,133
- Financial charges +€1,091
up €1,091 (+123%), from €889 to €1,981
- Taxes -€238
down €238 (-61.3%), from €388 to €150
- Financial income +€125
up €125 (+77.6%), from €162 to €287
- Other operating charges -€118
down €118 (-3.1%), from €3,801 to €3,683
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 | €432,480 | €404,128 | -€28,353 | -6.6% |
| Fixed assets | 21/28 | €273,770 | €250,283 | -€23,487 | -8.6% |
| Tangible fixed assets | 22/27 | €273,720 | €250,233 | -€23,487 | -8.6% |
| Land and buildings | 22 | €271,432 | €249,293 | -€22,139 | -8.2% |
| Plant, machinery and equipment | 23 | €2,288 | €940 | -€1,348 | -58.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €158,711 | €153,845 | -€4,866 | -3.1% |
| Amounts receivable within one year | 40/41 | €106,889 | €121,293 | +€14,404 | +13.5% |
| Trade receivables | 40 | €104,542 | €121,022 | +€16,480 | +15.8% |
| Other amounts receivable | 41 | €2,347 | €272 | -€2,075 | -88.4% |
| Cash at bank and in hand | 54/58 | €42,921 | €29,550 | -€13,371 | -31.2% |
| Deferred charges and accrued income | 490/1 | €8,901 | €3,002 | -€5,899 | -66.3% |
| Total equity and liabilities | 10/49 | €432,480 | €404,128 | -€28,353 | -6.6% |
| Equity | 10/15 | €376,100 | €355,493 | -€20,607 | -5.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €363,700 | €343,093 | -€20,607 | -5.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,406 | €44,584 | -€3,822 | -7.9% |
| Distributable reserves | 133 | €313,435 | €296,650 | -€16,786 | -5.4% |
| Provisions and deferred taxes | 16 | €16,135 | €14,861 | -€1,274 | -7.9% |
| Deferred taxes | 168 | €16,135 | €14,861 | -€1,274 | -7.9% |
| Amounts payable | 17/49 | €40,245 | €33,773 | -€6,472 | -16.1% |
| Amounts payable within one year | 42/48 | €40,245 | €33,773 | -€6,472 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,994 | €2,558 | +€565 | +28.3% |
| Suppliers | 440/4 | €1,994 | €2,558 | +€565 | +28.3% |
| Taxes, remuneration and social security | 45 | €1,974 | €55 | -€1,919 | -97.2% |
| Taxes | 450/3 | €1,974 | €55 | -€1,919 | -97.2% |
| Other amounts payable | 47/48 | €36,277 | €31,160 | -€5,117 | -14.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,487 | €23,487 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,801 | €3,683 | -€118 | -3.1% |
| Gross operating margin | 9900 | €8,819 | €7,133 | -€1,686 | -19.1% |
| Operating profit (loss) | 9901 | -€18,468 | -€20,037 | -€1,569 | -8.5% |
| Financial income | 75/76B | €162 | €287 | +€125 | +77.6% |
| Recurring financial income | 75 | €162 | €287 | +€125 | +77.6% |
| Financial charges | 65/66B | €889 | €1,981 | +€1,091 | +123% |
| Recurring financial charges | 65 | €889 | €1,981 | +€1,091 | +123% |
| Profit (loss) for the period before taxes | 9903 | -€19,196 | -€21,731 | -€2,535 | -13.2% |
| Transfer from deferred taxes | 780 | €1,274 | €1,274 | = | 0.0% |
| Income taxes | 67/77 | €388 | €150 | -€238 | -61.3% |
| Profit (loss) for the period | 9904 | -€18,310 | -€20,607 | -€2,297 | -12.5% |
| Transfer from tax-exempt reserves | 789 | €3,822 | €3,822 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,489 | -€16,786 | -€2,297 | -15.9% |
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 17 October 2026 via checked.be.