TOTAL RELAX: 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.
TOTAL RELAX
Largest movements
- Receivables within one year +€27,221
up €27,221 (+60.7%), from €44,834 to €72,055
of which Other amounts receivable: +€26,970
- Tangible fixed assets -€11,572
down €11,572 (-8.4%), from €137,192 to €125,620
of which Plant, machinery and equipment: -€10,742
- Stocks and contracts -€9,189
no longer reported in 2025 (was €9,189)
- Debts after one year -€30,081
down €30,081 (-47.8%), from €62,891 to €32,810
- Short-term financial debts +€15,000
new in 2025: €15,000
- Tax, wage and social debts -€12,768
down €12,768 (-52.4%), from €24,389 to €11,621
- Trade debts +€11,178
up €11,178 (+150%), from €7,462 to €18,640
- Reserves +€9,626
up €9,626 (+17.4%), from €55,404 to €65,030
- Gross operating margin -€21,073
down €21,073 (-23.7%), from €88,788 to €67,714
- Taxes -€11,410
down €11,410 (-65.1%), from €17,513 to €6,104
- Depreciation +€3,394
up €3,394 (+10.7%), from €31,731 to €35,125
- Other operating charges +€1,341
up €1,341 (+46.1%), from €2,906 to €4,247
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 | €198,847 | €205,405 | +€6,558 | +3.3% |
| Fixed assets | 21/28 | €137,192 | €125,620 | -€11,572 | -8.4% |
| Tangible fixed assets | 22/27 | €137,192 | €125,620 | -€11,572 | -8.4% |
| Plant, machinery and equipment | 23 | €117,069 | €106,326 | -€10,742 | -9.2% |
| Furniture and vehicles | 24 | €20,123 | €19,294 | -€829 | -4.1% |
| Current assets | 29/58 | €61,655 | €79,785 | +€18,130 | +29.4% |
| Stocks and contracts in progress | 3 | €9,189 | - | -€9,189 | |
| Stocks | 30/36 | €9,189 | - | -€9,189 | |
| Amounts receivable within one year | 40/41 | €44,834 | €72,055 | +€27,221 | +60.7% |
| Trade receivables | 40 | €24,441 | €24,692 | +€251 | +1.0% |
| Other amounts receivable | 41 | €20,393 | €47,363 | +€26,970 | +132% |
| Cash at bank and in hand | 54/58 | €6,074 | €6,562 | +€488 | +8.0% |
| Deferred charges and accrued income | 490/1 | €1,558 | €1,168 | -€390 | -25.0% |
| Total equity and liabilities | 10/49 | €198,847 | €205,405 | +€6,558 | +3.3% |
| Equity | 10/15 | €55,904 | €65,530 | +€9,626 | +17.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €55,404 | €65,030 | +€9,626 | +17.4% |
| Distributable reserves | 133 | €55,404 | €65,030 | +€9,626 | +17.4% |
| Amounts payable | 17/49 | €142,943 | €139,876 | -€3,067 | -2.1% |
| Amounts payable after more than one year | 17 | €62,891 | €32,810 | -€30,081 | -47.8% |
| Financial debts | 170/4 | €62,891 | €32,810 | -€30,081 | -47.8% |
| Amounts payable within one year | 42/48 | €80,052 | €101,426 | +€21,374 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €28,670 | €30,081 | +€1,411 | +4.9% |
| Financial debts | 43 | - | €15,000 | +€15,000 | |
| Credit institutions | 430/8 | - | €15,000 | +€15,000 | |
| Trade debts | 44 | €7,462 | €18,640 | +€11,178 | +150% |
| Suppliers | 440/4 | €7,462 | €18,640 | +€11,178 | +150% |
| Advances received on contracts in progress | 46 | - | €6,225 | +€6,225 | |
| Taxes, remuneration and social security | 45 | €24,389 | €11,621 | -€12,768 | -52.4% |
| Taxes | 450/3 | €24,389 | €11,621 | -€12,768 | -52.4% |
| Other amounts payable | 47/48 | €19,532 | €19,859 | +€327 | +1.7% |
| Accrued charges and deferred income | 492/3 | - | €5,640 | +€5,640 | |
| Remuneration, social security and pensions | 62 | €250 | - | -€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,731 | €35,125 | +€3,394 | +10.7% |
| Other operating charges | 640/8 | €2,906 | €4,247 | +€1,341 | +46.1% |
| Gross operating margin | 9900 | €88,788 | €67,714 | -€21,073 | -23.7% |
| Operating profit (loss) | 9901 | €53,901 | €28,343 | -€25,558 | -47.4% |
| Financial income | 75/76B | €4 | €14 | +€11 | +281% |
| Recurring financial income | 75 | €4 | €14 | +€11 | +281% |
| Financial charges | 65/66B | €5,208 | €5,794 | +€586 | +11.3% |
| Recurring financial charges | 65 | €5,208 | €4,396 | -€812 | -15.6% |
| Non-recurring financial charges | 66B | - | €1,399 | +€1,399 | |
| Profit (loss) for the period before taxes | 9903 | €48,696 | €22,563 | -€26,134 | -53.7% |
| Income taxes | 67/77 | €17,513 | €6,104 | -€11,410 | -65.1% |
| Profit (loss) for the period | 9904 | €31,183 | €16,459 | -€14,724 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,183 | €16,459 | -€14,724 | -47.2% |
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 19 October 2026 via checked.be.