RREL: 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.
RREL
Largest movements
- Financial fixed assets +€205,000
new in 2025: €205,000
- Cash -€29,402
down €29,402 (-28.0%), from €104,828 to €75,426
mainly Investment in fixed assets (net) (-€214,102) and Trade debts (-€12,478)
- Tangible fixed assets +€4,467
up €4,467 (+35.4%), from €12,602 to €17,069
of which Furniture and vehicles: +€7,627
- Other debts +€146,834
up €146,834 (+1,208%), from €12,150 to €158,984
- Reserves +€40,435
up €40,435 (+39.5%), from €102,391 to €142,826
- Trade debts -€12,478
down €12,478 (-66.3%), from €18,824 to €6,346
- Gross operating margin +€21,105
up €21,105 (+40.9%), from €51,598 to €72,704
- Depreciation -€12,777
down €12,777 (-73.4%), from €17,412 to €4,635
- Taxes +€7,237
up €7,237 (+45.2%), from €15,994 to €23,231
- Other operating charges +€868
up €868 (+47.8%), from €1,814 to €2,681
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 | €153,337 | €330,334 | +€176,997 | +115% |
| Fixed assets | 21/28 | €12,602 | €222,069 | +€209,467 | +1,662% |
| Tangible fixed assets | 22/27 | €12,602 | €17,069 | +€4,467 | +35.4% |
| Plant, machinery and equipment | 23 | €968 | €106 | -€862 | -89.0% |
| Furniture and vehicles | 24 | €1,422 | €9,049 | +€7,627 | +536% |
| Other tangible fixed assets | 26 | €10,212 | €7,914 | -€2,298 | -22.5% |
| Financial fixed assets | 28 | - | €205,000 | +€205,000 | |
| Current assets | 29/58 | €140,735 | €108,265 | -€32,470 | -23.1% |
| Amounts receivable within one year | 40/41 | €34,270 | €31,319 | -€2,951 | -8.6% |
| Trade receivables | 40 | €32,270 | €31,254 | -€1,016 | -3.1% |
| Other amounts receivable | 41 | €2,000 | €65 | -€1,935 | -96.7% |
| Cash at bank and in hand | 54/58 | €104,828 | €75,426 | -€29,402 | -28.0% |
| Deferred charges and accrued income | 490/1 | €1,637 | €1,520 | -€117 | -7.2% |
| Total equity and liabilities | 10/49 | €153,337 | €330,334 | +€176,997 | +115% |
| Equity | 10/15 | €107,391 | €147,826 | +€40,435 | +37.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €102,391 | €142,826 | +€40,435 | +39.5% |
| Distributable reserves | 133 | €102,391 | €142,826 | +€40,435 | +39.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €45,946 | €182,507 | +€136,562 | +297% |
| Amounts payable within one year | 42/48 | €45,946 | €181,394 | +€135,448 | +295% |
| Trade debts | 44 | €18,824 | €6,346 | -€12,478 | -66.3% |
| Suppliers | 440/4 | €18,824 | €6,346 | -€12,478 | -66.3% |
| Taxes, remuneration and social security | 45 | €14,972 | €16,064 | +€1,092 | +7.3% |
| Taxes | 450/3 | €14,972 | €16,064 | +€1,092 | +7.3% |
| Other amounts payable | 47/48 | €12,150 | €158,984 | +€146,834 | +1,208% |
| Accrued charges and deferred income | 492/3 | - | €1,114 | +€1,114 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,412 | €4,635 | -€12,777 | -73.4% |
| Other operating charges | 640/8 | €1,814 | €2,681 | +€868 | +47.8% |
| Gross operating margin | 9900 | €51,598 | €72,704 | +€21,105 | +40.9% |
| Operating profit (loss) | 9901 | €32,373 | €65,387 | +€33,015 | +102% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €182 | €55 | -€127 | -69.7% |
| Recurring financial charges | 65 | €182 | €55 | -€127 | -69.7% |
| Profit (loss) for the period before taxes | 9903 | €32,191 | €65,332 | +€33,141 | +103% |
| Income taxes | 67/77 | €15,994 | €23,231 | +€7,237 | +45.2% |
| Profit (loss) for the period | 9904 | €16,197 | €42,101 | +€25,904 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €16,197 | €42,101 | +€25,904 | +160% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.