RENIERS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 42 filings
Turnover
≈ €1.0m
Estimated: probably between €790,000 and €1.6m
Total assets
€735,492▲ 5.0%
2024 · €700,258
Net result
€14,297
2024 · -€25,681
Working capital
€477,969▲ 5.8%
2024 · €451,866
In the rankings
#4 oldest company in Zoutleeuw, Wholesale and retail trade sector#7 company by equity in Zoutleeuw, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€17,038
2025
20182025
Net result
€14,297
2025
middle half of the sector
20182025
Equity
€684,613
▲ 2.1%
2025
highest quarter of the sector
20182025
Total assets
€735,492
▲ 5.0%
2025
highest quarter of the sector
20182025
Debt
€50,878
▲ 69.9%
2025
20182025
Working capital
€477,969
▲ 5.8%
2025
highest quarter of the sector
20182025
Solvency
93.1%
▼ 2.6pp
2025
highest quarter of the sector
20182025
Current ratio
10.39
▼ 5.70
2025
highest quarter of the sector
20182025
Return on assets (ROA)
1.9%
▲ 5.6pp
2025
middle half of the sector
20182025
Staff (FTE)
3.9
▼ 11.4%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€3,254--€37,847▼ 1,063%€14,864€11,698▼ 21.3%-€2,274-€9,525▼ 319%-€27,295▼ 187%€17,038
Net result-€966--€38,520▼ 3,889%€21,080within the sector's middle half€12,515within the sector's middle half▼ 40.6%€1,117within the sector's middle half▼ 91.1%-€4,877below the sector's middle half-€25,681below the sector's middle half▼ 427%€14,297within the sector's middle half
Equity€415,390-€666,162▲ 60.4%€687,242above the sector's middle half▲ 3.2%€699,757above the sector's middle half▲ 1.8%€700,874above the sector's middle half▲ 0.2%€695,997above the sector's middle half▼ 0.7%€670,316above the sector's middle half▼ 3.7%€684,613above the sector's middle half▲ 2.1%
Total assets€529,074-€753,730▲ 42.5%€761,732above the sector's middle half▲ 1.1%€782,225above the sector's middle half▲ 2.7%€755,443above the sector's middle half▼ 3.4%€733,652above the sector's middle half▼ 2.9%€700,258above the sector's middle half▼ 4.6%€735,492above the sector's middle half▲ 5.0%
Debt€113,684-€87,568▼ 23.0%€74,490▼ 14.9%€82,468▲ 10.7%€54,569▼ 33.8%€37,656▼ 31.0%€29,942▼ 20.5%€50,878▲ 69.9%
Working capital€405,710-€376,453▼ 7.2%€413,893above the sector's middle half▲ 9.9%€449,700above the sector's middle half▲ 8.7%€446,568above the sector's middle half▼ 0.7%€459,619above the sector's middle half▲ 2.9%€451,866above the sector's middle half▼ 1.7%€477,969above the sector's middle half▲ 5.8%
Solvency78.5%-88.4%▲ 9.9pp90.2%above the sector's middle half▲ 1.8pp89.5%above the sector's middle half▼ 0.8pp92.8%above the sector's middle half▲ 3.3pp94.9%above the sector's middle half▲ 2.1pp95.7%above the sector's middle half▲ 0.9pp93.1%above the sector's middle half▼ 2.6pp
Current ratio7.20-8.20▲ 1.008.91above the sector's middle half▲ 0.719.53above the sector's middle half▲ 0.629.18above the sector's middle half▼ 0.3513.21above the sector's middle half▲ 4.0216.09above the sector's middle half▲ 2.8910.39above the sector's middle half▼ 5.70
Return on assets (ROA)-0.2%--5.1%▼ 4.9pp2.8%within the sector's middle half▲ 7.9pp1.6%within the sector's middle half▼ 1.2pp0.1%within the sector's middle half▼ 1.5pp-0.7%within the sector's middle half▼ 0.8pp-3.7%below the sector's middle half▼ 3.0pp1.9%within the sector's middle half▲ 5.6pp
Staff (FTE)4.3-3.5▼ 18.6%3.5above the sector's middle half=3.5=3.8▲ 8.6%4.4▲ 15.8%4.4=3.9▼ 11.4%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €17,038, after a loss of €27,295 in 2024. It is the highest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €735,492
Fixed assets
€206,644 ▼ 5.4%
Current assets
€528,847 ▲ 9.8%
Equity and liabilities €735,492
Equity
€684,613 ▲ 2.1%
Debt
€50,878 ▲ 69.9%
Debt's share of the balance-sheet total rises from 4.3% to 6.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35,189▲
2024 · -€9,367
Cash flow
€32,449▲
2024 · -€7,753
Quick ratio
3.88▼
2024 · 4.18
Debt to equity
0.07▲
2024 · 0.04
ROE
2.1%▲
2024 · -3.8%
Interest coverage
5.09▲
2024 · -2.76
Debt ≤ 1 year
€50,878▲
2024 · €29,942
Income taxes
€1,473▲
2024 · €749
Staff costs
€142,765▲
2024 · €137,963
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 5 | 5 | 5 | 5 |
| full-time | 3 | 3 | 3 | 3 | 3 |
| part-time | 1 | 2 | 2 | 2 | 2 |
| in full-time equivalents | 3.5 | 4.4 | 4.4 | 3.9 | 3.9 |
| Average over the year, in full-time equivalents | 3.5 | 3.8 | 4.4 | 4.4 | 3.9 |
| On a permanent contract | 4 | 5 | 4 | 5 | 5 |
| Joined | - | 1 | 2 | 2 | - |
| Left | - | 0 | 2 | 2 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €14,500 | €5,533 | - | - | €6,346 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €30,221 | €31,045 | €17,928 | €17,928 | €18,152 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 3 entries · €13,066 awarded · €13,066 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1 | €1 |
| 2024 | 1 | €4,991 | €4,991 |
| 2023 | 1 | €8,074 | €8,074 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €60,809 | €100,067 | €129,654 | €137,963 | €142,765 | ▲ 3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,582 | €31,266 | €29,455 | €30,221 | €31,045 | €17,928 | €17,928 | €18,152 | ▲ 1.2% |
| Other operating charges640/8 | - | - | - | €3,236 | €3,663 | €3,143 | €5,011 | €3,341 | ▼ 33.3% |
| Gross operating margin9900 | €155,640 | €129,542 | €132,845 | €105,964 | €132,501 | €141,200 | €133,607 | €181,296 | ▲ 35.7% |
| Operating profit (loss)9901 | -€3,254 | -€37,847 | €14,864 | €11,698 | -€2,274 | -€9,525 | -€27,295 | €17,038 | - |
| Financial income75/76B | - | - | - | €3,926 | €7,846 | €7,450 | €5,754 | €5,649 | ▼ 1.8% |
| Recurring financial income75 | €9,334 | €5,567 | €8,096 | €3,926 | €7,846 | €7,450 | €5,754 | €5,649 | ▼ 1.8% |
| Financial charges65/66B | - | - | - | €1,925 | €1,086 | €999 | €3,391 | €6,916 | ▲ 104% |
| Recurring financial charges65 | €4,961 | €5,681 | €1,143 | €1,925 | €1,086 | €999 | €3,391 | €6,916 | ▲ 104% |
| Profit (loss) for the period before taxes9903 | €1,119 | -€37,962 | €21,817 | €13,699 | €4,485 | -€3,074 | -€24,932 | €15,771 | - |
| Income taxes67/77 | €2,085 | €559 | €738 | €1,184 | €3,369 | €1,803 | €749 | €1,473 | ▲ 96.8% |
| Profit (loss) for the period9904 | -€966 | -€38,520 | €21,080 | €12,515 | €1,117 | -€4,877 | -€25,681 | €14,297 | - |
| Profit (loss) for the period to be appropriated9905 | -€966 | -€38,520 | €21,080 | €12,515 | €1,117 | -€4,877 | -€25,681 | €14,297 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €529,074 | €753,730 | €761,732 | €782,225 | €755,443 | €733,652 | €700,258 | €735,492 | ▲ 5.0% |
| Fixed assets21/28 | €57,898 | €324,994 | €295,539 | €279,818 | €254,306 | €236,378 | €218,450 | €206,644 | ▼ 5.4% |
| Tangible fixed assets22/27 | €57,898 | €324,994 | €295,539 | €279,818 | €254,306 | €236,378 | €218,450 | €206,644 | ▼ 5.4% |
| Land and buildings22 | - | - | - | €260,408 | €243,717 | €227,802 | €211,888 | €195,973 | ▼ 7.5% |
| Plant, machinery and equipment23 | - | - | - | €6,349 | €5,442 | €4,535 | €3,628 | €8,844 | ▲ 144% |
| Furniture and vehicles24 | - | - | - | €13,061 | €5,148 | €4,041 | €2,934 | €1,828 | ▼ 37.7% |
| Current assets29/58 | €471,175 | €428,736 | €466,192 | €502,407 | €501,136 | €497,274 | €481,808 | €528,847 | ▲ 9.8% |
| Stocks and contracts in progress3 | €329,787 | €318,293 | €296,217 | €337,742 | €340,735 | €334,469 | €356,754 | €331,613 | ▼ 7.0% |
| Stocks30/36 | - | - | - | €337,742 | €340,735 | €334,469 | €356,754 | €331,613 | ▼ 7.0% |
| Amounts receivable within one year40/41 | €127,728 | €65,381 | €77,172 | €97,732 | €85,549 | €103,942 | €101,299 | €119,429 | ▲ 17.9% |
| Trade receivables40 | - | - | - | €29,702 | €8,673 | €14,358 | €1,002 | €11,250 | ▲ 11× |
| Other amounts receivable41 | - | - | - | €68,030 | €76,876 | €89,584 | €100,297 | €108,179 | ▲ 7.9% |
| Cash at bank and in hand54/58 | €6,363 | €33,949 | €86,614 | €66,933 | €74,852 | €58,864 | €23,755 | €77,806 | ▲ 228% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €529,074 | €753,730 | €761,732 | €782,225 | €755,443 | €733,652 | €700,258 | €735,492 | ▲ 5.0% |
| Equity10/15 | €415,390 | €666,162 | €687,242 | €699,757 | €700,874 | €695,997 | €670,316 | €684,613 | ▲ 2.1% |
| Contributions10/11 | €19,831 | €0 | - | €309,123 | €309,123 | €309,123 | €309,123 | €309,123 | = |
| Reserves13 | €202,998 | €202,998 | €224,078 | €236,593 | €237,710 | €237,710 | €237,710 | €252,008 | ▲ 6.0% |
| Distributable reserves133 | - | - | - | €236,593 | €237,710 | €237,710 | €237,710 | €252,008 | ▲ 6.0% |
| Profit (loss) carried forward14 | €192,561 | €154,040 | €154,040 | €154,040 | €154,040 | €149,163 | €123,482 | €123,482 | = |
| Amounts payable17/49 | €113,684 | €87,568 | €74,490 | €82,468 | €54,569 | €37,656 | €29,942 | €50,878 | ▲ 69.9% |
| Amounts payable after more than one year17 | €48,218 | €35,285 | €22,190 | €8,932 | €0 | - | - | - | - |
| Financial debts170/4 | - | - | - | €8,932 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €65,466 | €52,283 | €52,299 | €52,707 | €54,569 | €37,656 | €29,942 | €50,878 | ▲ 69.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,259 | €8,932 | €0 | - | - | - |
| Trade debts44 | €38,518 | €16,554 | €22,971 | €20,103 | €23,795 | €19,376 | €7,165 | €31,591 | ▲ 341% |
| Suppliers440/4 | - | - | - | €20,103 | €23,795 | €19,376 | €7,165 | €31,591 | ▲ 341% |
| Taxes, remuneration and social security45 | - | - | - | €19,345 | €21,842 | €18,280 | €22,777 | €19,287 | ▼ 15.3% |
| Taxes450/3 | - | - | - | €14,197 | €14,202 | €9,839 | €9,934 | €8,776 | ▼ 11.7% |
| Remuneration and social security454/9 | - | - | - | €5,149 | €7,639 | €8,441 | €12,843 | €10,512 | ▼ 18.2% |
| Accrued charges and deferred income492/3 | - | - | - | €20,829 | €0 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€966 | -€38,520 | €21,080 | €12,515 | €1,117 | -€4,877 | -€25,681 | €14,297 | - |
| + Depreciation and write-downs630 | €20,582 | €31,266 | €29,455 | €30,221 | €31,045 | €17,928 | €17,928 | €18,152 | ▲ 1.2% |
| Operating cash flow (approximation) | €19,616 | -€7,254 | €50,534 | €42,736 | €32,162 | €13,051 | -€7,753 | €32,449 | - |
| Investment in fixed assets (approximation) | - | -€298,362 | €0 | -€14,500 | -€5,533 | €0 | €0 | -€6,346 | - |
| Change in cash | - | €27,586 | €52,665 | -€19,681 | €7,919 | -€15,988 | -€35,109 | €54,051 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as RENIERS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RENIERS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for RENIERS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 42 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-07-2026 | 2026-00294101 | |
| 31-12-2024 | micro format | 15-07-2025 | 2025-00269039 | |
| 31-12-2023 | micro format | 09-08-2024 | 2024-00336843 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00365371 | |
| 31-12-2021 | micro format | 23-08-2022 | 2022-20304869 | |
| 31-12-2020 | micro format | 16-08-2021 | 2021-48500562 | |
| 31-12-2019 | micro format | 27-08-2020 | 2020-45000065 | |
| 31-12-2018 | abbreviated format | 23-08-2019 | 2019-49100036 | |
| 31-12-2017 | micro format | 30-08-2018 | 2018-53100095 | |
| 31-12-2016 | abbreviated format | 22-08-2017 | 2017-45100265 |