diff --git a/arch/arm/cpu/uncompress.c b/arch/arm/cpu/uncompress.c
index b07087e4c..708c04c1f 100644
--- a/arch/arm/cpu/uncompress.c
+++ b/arch/arm/cpu/uncompress.c
@@ -50,8 +50,6 @@ void __noreturn barebox_multi_pbl_start(unsigned long membase,
        void *pg_start;
        unsigned long pc = get_pc();
 
-       image_end = (void *)&image_end_marker + global_variable_offset();
-
        if (IS_ENABLED(CONFIG_PBL_RELOCATABLE)) {
                /*
                 * If we run from inside the memory just relocate the binary
@@ -64,6 +62,8 @@ void __noreturn barebox_multi_pbl_start(unsigned long membase,
                        relocate_to_adr(membase);
        }
 
+       image_end = (void *)&image_end_marker + global_variable_offset();
+
        /*
         * image_end is the image_end_marker defined above. It is the last location
         * in the executable. Right after the executable the build process adds