RLST: 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.
What changed
RLST
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€96,960
2024 · €244,483-€147,523
Equity
€5.4m
2024 · €5.3m+€96,960
Cash
€495,941
2024 · €334,701+€161,241
Balance sheet total
€34.0m
2024 · €13.7m+€20.3m
Largest movements
Assets
- Receivables after one year +€10.0m
new in 2025: €10.0m
- Receivables within one year +€10.0m
up €10.0m (+13188.9%), from €75,466 to €10.0m
of which Other amounts receivable: +€10.0m
Equity and liabilities
- Debts after one year +€17.6m
up €17.6m (+223.1%), from €7.9m to €25.5m
- Current portion of long-term debt +€2.0m
up €2.0m (+520.6%), from €384,180 to €2.4m
- Accrued charges and deferred income +€444,394
up €444,394 (+700.7%), from €63,425 to €507,819
Income statement
- Financial income +€768,767
new in 2025: €768,767
- Financial charges +€623,253
up €623,253 (+326.0%), from €191,177 to €814,430
- Services and other goods +€367,298
up €367,298 (+195.1%), from €188,301 to €555,599
- Taxes -€49,140
down €49,140 (-60.3%), from €81,511 to €32,371
- Turnover +€29,154
up €29,154 (+3.4%), from €854,200 to €883,354
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.
Result 2024
€244,483
Turnover
+€29,154
Other operating income
-€1,775
Services and other goods
-€367,298
Other operating charges
-€2,258
Financial income
+€768,767
Financial charges
-€623,253
Taxes
+€49,140
Result 2025
€96,960
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.
From operations
-€19.4m
Investment
-€26,090
Financing
+€19.6m
Cash 2024
€334,701
From operations (derived)
-€19.4m
Net result for the year
+€96,960
Depreciation
+€147,762
Receivables after one year
-€10.0m
Receivables within one year
-€10.0m
Deferred charges and accrued income
-€287,416
Trade debts
+€82,802
Tax, wage and social debts
-€10,316
Other debts
+€50,478
Accrued charges and deferred income
+€444,394
Investment (derived)
-€26,090
Investment in fixed assets (net)
-€26,090
Financing
+€19.6m
Debts after one year
+€17.6m
Current portion of long-term debt
+€2.0m
Cash 2025
€495,941
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,733,293 | €34,013,431 | +€20.3m | +147.7% |
| Fixed assets | 21/28 | €13,317,087 | €13,195,415 | -€121,672 | -0.9% |
| Tangible fixed assets | 22/27 | €9,530,286 | €9,408,137 | -€122,149 | -1.3% |
| Land and buildings | 22 | €9,530,286 | €9,408,137 | -€122,149 | -1.3% |
| Financial fixed assets | 28 | €3,786,801 | €3,787,278 | +€478 | 0.0% |
| Affiliated companies | 280/1 | €3,786,801 | €3,787,278 | +€478 | 0.0% |
| Participating interests | 280 | €3,786,801 | €3,787,278 | +€478 | 0.0% |
| Current assets | 29/58 | €416,206 | €20,818,016 | +€20.4m | +4901.8% |
| Amounts receivable after more than one year | 29 | - | €10,000,000 | +€10.0m | |
| Other amounts receivable | 291 | - | €10,000,000 | +€10.0m | |
| Amounts receivable within one year | 40/41 | €75,466 | €10,028,619 | +€10.0m | +13188.9% |
| Trade receivables | 40 | €71,977 | - | -€71,977 | |
| Other amounts receivable | 41 | €3,489 | €10,028,619 | +€10.0m | +287330.4% |
| Cash at bank and in hand | 54/58 | €334,701 | €495,941 | +€161,241 | +48.2% |
| Deferred charges and accrued income | 490/1 | €6,039 | €293,456 | +€287,416 | +4759.0% |
| Total equity and liabilities | 10/49 | €13,733,293 | €34,013,431 | +€20.3m | +147.7% |
| Equity | 10/15 | €5,337,056 | €5,434,016 | +€96,960 | +1.8% |
| Contributions | 10/11 | €1,522,438 | €1,522,438 | = | 0.0% |
| Capital | 10 | €1,522,438 | €1,522,438 | = | 0.0% |
| Issued capital | 100 | €1,522,438 | €1,522,438 | = | 0.0% |
| Reserves | 13 | €212,674 | €212,674 | = | 0.0% |
| Non-distributable reserves | 130/1 | €203,411 | €203,411 | = | 0.0% |
| Legal reserve | 130 | €202,488 | €202,488 | = | 0.0% |
| Reserves not available under the articles | 1311 | €923 | €923 | = | 0.0% |
| Distributable reserves | 133 | €9,264 | €9,264 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,601,944 | €3,698,904 | +€96,960 | +2.7% |
| Amounts payable | 17/49 | €8,396,237 | €28,579,415 | +€20.2m | +240.4% |
| Amounts payable after more than one year | 17 | €7,896,880 | €25,512,700 | +€17.6m | +223.1% |
| Financial debts | 170/4 | €7,896,880 | €25,512,700 | +€17.6m | +223.1% |
| Subordinated loans | 170 | €1,843,900 | €1,843,900 | = | 0.0% |
| Credit institutions | 173 | €6,052,980 | €5,668,800 | -€384,180 | -6.3% |
| Other loans | 174 | - | €18,000,000 | +€18.0m | |
| Amounts payable within one year | 42/48 | €435,932 | €2,558,896 | +€2.1m | +487.0% |
| Current portion of amounts payable after more than one year | 42 | €384,180 | €2,384,180 | +€2.0m | +520.6% |
| Trade debts | 44 | €41,436 | €124,238 | +€82,802 | +199.8% |
| Suppliers | 440/4 | €41,436 | €124,238 | +€82,802 | +199.8% |
| Taxes, remuneration and social security | 45 | €10,316 | - | -€10,316 | |
| Taxes | 450/3 | €10,316 | - | -€10,316 | |
| Other amounts payable | 47/48 | - | €50,478 | +€50,478 | |
| Accrued charges and deferred income | 492/3 | €63,425 | €507,819 | +€444,394 | +700.7% |
| Operating income | 70/76A | €926,178 | €953,557 | +€27,379 | +3.0% |
| Turnover | 70 | €854,200 | €883,354 | +€29,154 | +3.4% |
| Other operating income | 74 | €71,977 | €70,203 | -€1,775 | -2.5% |
| Operating charges | 60/66A | €409,007 | €778,564 | +€369,557 | +90.4% |
| Services and other goods | 61 | €188,301 | €555,599 | +€367,298 | +195.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,762 | €147,762 | = | 0.0% |
| Other operating charges | 640/8 | €72,945 | €75,203 | +€2,258 | +3.1% |
| Operating profit (loss) | 9901 | €517,171 | €174,993 | -€342,178 | -66.2% |
| Financial income | 75/76B | - | €768,767 | +€768,767 | |
| Recurring financial income | 75 | - | €768,767 | +€768,767 | |
| Income from current assets | 751 | - | €768,767 | +€768,767 | |
| Financial charges | 65/66B | €191,177 | €814,430 | +€623,253 | +326.0% |
| Recurring financial charges | 65 | €191,177 | €814,430 | +€623,253 | +326.0% |
| Debt charges | 650 | €190,398 | €814,129 | +€623,732 | +327.6% |
| Other financial charges | 652/9 | €779 | €301 | -€479 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €325,994 | €129,330 | -€196,663 | -60.3% |
| Income taxes | 67/77 | €81,511 | €32,371 | -€49,140 | -60.3% |
| Taxes | 670/3 | €81,511 | €32,371 | -€49,140 | -60.3% |
| Profit (loss) for the period | 9904 | €244,483 | €96,960 | -€147,523 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €244,483 | €96,960 | -€147,523 | -60.3% |
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 3 October 2026 via checked.be.