B. RENAUX: 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.
B. RENAUX
Largest movements
- Current investments -€23,739
down €23,739 (-6.7%), from €356,787 to €333,048
- Tangible fixed assets -€13,613
down €13,613 (-25.1%), from €54,323 to €40,710
- Cash -€6,634
down €6,634 (-40.4%), from €16,403 to €9,769
mainly Other debts (-€17,475) and Net result for the year (-€14,065)
- Reserves -€26,208
down €26,208 (-9.5%), from €276,564 to €250,357
of which Distributable reserves: -€26,208
- Other debts -€17,475
down €17,475 (-12.2%), from €143,745 to €126,270
- Tax, wage and social debts -€4,935
down €4,935 (-86.8%), from €5,685 to €750
- Gross operating margin -€29,878
down €29,878 (-95.0%), from €31,442 to €1,564
- Taxes -€13,559
down €13,559 (-98.6%), from €13,752 to €194
- Financial income +€3,425
up €3,425 (+67.5%), from €5,072 to €8,497
- Financial charges +€794
up €794 (+8.8%), from €9,041 to €9,835
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 | €437,844 | €389,795 | -€48,049 | -11.0% |
| Fixed assets | 21/28 | €54,323 | €40,710 | -€13,613 | -25.1% |
| Tangible fixed assets | 22/27 | €54,323 | €40,710 | -€13,613 | -25.1% |
| Furniture and vehicles | 24 | €54,323 | €40,710 | -€13,613 | -25.1% |
| Current assets | 29/58 | €383,521 | €349,085 | -€34,436 | -9.0% |
| Amounts receivable within one year | 40/41 | €6,731 | €4,468 | -€2,263 | -33.6% |
| Trade receivables | 40 | €6,731 | €2,108 | -€4,624 | -68.7% |
| Other amounts receivable | 41 | - | €2,361 | +€2,361 | |
| Current investments | 50/53 | €356,787 | €333,048 | -€23,739 | -6.7% |
| Cash at bank and in hand | 54/58 | €16,403 | €9,769 | -€6,634 | -40.4% |
| Deferred charges and accrued income | 490/1 | €3,600 | €1,800 | -€1,800 | -50.0% |
| Total equity and liabilities | 10/49 | €437,844 | €389,795 | -€48,049 | -11.0% |
| Equity | 10/15 | €288,391 | €262,751 | -€25,640 | -8.9% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €276,564 | €250,357 | -€26,208 | -9.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,229 | €6,229 | = | 0.0% |
| Distributable reserves | 133 | €268,476 | €242,268 | -€26,208 | -9.8% |
| Profit (loss) carried forward | 14 | -€568 | - | +€568 | |
| Amounts payable | 17/49 | €149,453 | €127,043 | -€22,409 | -15.0% |
| Amounts payable within one year | 42/48 | €149,453 | €127,043 | -€22,409 | -15.0% |
| Trade debts | 44 | €23 | €24 | +€1 | +2.4% |
| Suppliers | 440/4 | €23 | €24 | +€1 | +2.4% |
| Taxes, remuneration and social security | 45 | €5,685 | €750 | -€4,935 | -86.8% |
| Taxes | 450/3 | €5,685 | €750 | -€4,935 | -86.8% |
| Other amounts payable | 47/48 | €143,745 | €126,270 | -€17,475 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,561 | €13,613 | +€52 | +0.4% |
| Other operating charges | 640/8 | €728 | €485 | -€243 | -33.4% |
| Gross operating margin | 9900 | €31,442 | €1,564 | -€29,878 | -95.0% |
| Operating profit (loss) | 9901 | €17,153 | -€12,534 | -€29,687 | |
| Financial income | 75/76B | €5,072 | €8,497 | +€3,425 | +67.5% |
| Recurring financial income | 75 | €5,072 | €8,497 | +€3,425 | +67.5% |
| Financial charges | 65/66B | €9,041 | €9,835 | +€794 | +8.8% |
| Recurring financial charges | 65 | €9,041 | €9,835 | +€794 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €13,185 | -€13,872 | -€27,056 | |
| Income taxes | 67/77 | €13,752 | €194 | -€13,559 | -98.6% |
| Profit (loss) for the period | 9904 | -€568 | -€14,065 | -€13,497 | -2,377% |
| Profit (loss) for the period to be appropriated | 9905 | -€568 | -€14,065 | -€13,497 | -2,377% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.