RLZ: 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.
RLZ
Largest movements
- Stocks and contracts +€32,500
up €32,500 (+17.0%), from €191,500 to €224,000
- Cash -€17,772
down €17,772 (-92.0%), from €19,311 to €1,539
mainly Net result for the year (-€65,457) and Stocks and contracts (-€32,500)
- Receivables within one year -€8,110
down €8,110 (-21.9%), from €37,055 to €28,946
of which Other amounts receivable: -€25,203
- Profit (loss) carried forward -€65,457
down €65,457 (-1,115%), from -€5,873 to -€71,330
- Other debts +€56,744
up €56,744 (+133%), from €42,762 to €99,506
- Trade debts +€16,295
up €16,295 (+20.0%), from €81,648 to €97,944
- Staff costs +€28,199
up €28,199 (+99.1%), from €28,458 to €56,656
- Gross operating margin -€17,585
down €17,585, from €8,939 to -€8,646
- Financial income -€9,618
down €9,618 (-86.1%), from €11,166 to €1,548
of which Financial income: -€9,618
- Taxes +€3,530
up €3,530, from -€3,501 to €30
- Depreciation +€427
up €427 (+99.4%), from €430 to €857
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 | €254,250 | €261,499 | +€7,249 | +2.9% |
| Fixed assets | 21/28 | €733 | €2,119 | +€1,387 | +189% |
| Tangible fixed assets | 22/27 | €733 | €2,119 | +€1,387 | +189% |
| Furniture and vehicles | 24 | €733 | €2,119 | +€1,387 | +189% |
| Current assets | 29/58 | €253,517 | €259,380 | +€5,863 | +2.3% |
| Stocks and contracts in progress | 3 | €191,500 | €224,000 | +€32,500 | +17.0% |
| Stocks | 30/36 | €191,500 | €224,000 | +€32,500 | +17.0% |
| Amounts receivable within one year | 40/41 | €37,055 | €28,946 | -€8,110 | -21.9% |
| Trade receivables | 40 | €8,847 | €25,940 | +€17,093 | +193% |
| Other amounts receivable | 41 | €28,208 | €3,005 | -€25,203 | -89.3% |
| Cash at bank and in hand | 54/58 | €19,311 | €1,539 | -€17,772 | -92.0% |
| Deferred charges and accrued income | 490/1 | €5,651 | €4,895 | -€756 | -13.4% |
| Total equity and liabilities | 10/49 | €254,250 | €261,499 | +€7,249 | +2.9% |
| Equity | 10/15 | €129,507 | €64,050 | -€65,457 | -50.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €129,180 | €129,180 | = | 0.0% |
| 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 | €127,320 | €127,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,873 | -€71,330 | -€65,457 | -1,115% |
| Amounts payable | 17/49 | €124,743 | €197,449 | +€72,706 | +58.3% |
| Amounts payable within one year | 42/48 | €124,743 | €197,449 | +€72,706 | +58.3% |
| Trade debts | 44 | €81,648 | €97,944 | +€16,295 | +20.0% |
| Suppliers | 440/4 | €81,648 | €97,944 | +€16,295 | +20.0% |
| Taxes, remuneration and social security | 45 | €333 | - | -€333 | |
| Taxes | 450/3 | €333 | - | -€333 | |
| Other amounts payable | 47/48 | €42,762 | €99,506 | +€56,744 | +133% |
| Non-recurring operating income | 76A | - | €6,673 | +€6,673 | |
| Remuneration, social security and pensions | 62 | €28,458 | €56,656 | +€28,199 | +99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €430 | €857 | +€427 | +99.4% |
| Other operating charges | 640/8 | €326 | €664 | +€338 | +103% |
| Gross operating margin | 9900 | €8,939 | -€8,646 | -€17,585 | |
| Operating profit (loss) | 9901 | -€20,275 | -€66,823 | -€46,548 | -230% |
| Financial income | 75/76B | €11,166 | €1,548 | -€9,618 | -86.1% |
| Recurring financial income | 75 | €11,166 | €1,548 | -€9,618 | -86.1% |
| Non-recurring financial income | 76B | €11,166 | €1,548 | -€9,618 | -86.1% |
| Financial charges | 65/66B | €264 | €152 | -€112 | -42.5% |
| Recurring financial charges | 65 | €264 | €152 | -€112 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,373 | -€65,427 | -€56,054 | -598% |
| Income taxes | 67/77 | -€3,501 | €30 | +€3,530 | |
| Profit (loss) for the period | 9904 | -€5,873 | -€65,457 | -€59,584 | -1,015% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,873 | -€65,457 | -€59,584 | -1,015% |
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 14 October 2026 via checked.be.