C.W. & Reno: 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.
C.W. & Reno
Largest movements
- Receivables within one year +€285,480
up €285,480 (+916%), from €31,152 to €316,632
of which Other amounts receivable: +€230,333
- Receivables after one year -€237,416
down €237,416 (-100%), from €237,416 to €0
- Trade debts +€64,083
up €64,083 (+104%), from €61,807 to €125,891
- Reserves -€36,405
down €36,405 (-33.2%), from €109,577 to €73,172
of which Distributable reserves: -€34,546
- Profit (loss) carried forward +€32,259
up €32,259, from -€32,259 to €0
- Other debts -€24,391
down €24,391 (-30.2%), from €80,686 to €56,295
- Current portion of long-term debt -€9,675
down €9,675 (-100%), from €9,675 to €0
- Gross operating margin +€147,469
up €147,469 (+286%), from €51,537 to €199,006
- Write-downs +€54,874
new in 2025: €54,874
- Staff costs +€21,257
up €21,257 (+43.0%), from €49,488 to €70,745
- Taxes +€11,837
up €11,837 (+501%), from €2,363 to €14,200
- Financial income +€8,833
up €8,833 (+200%), from €4,418 to €13,251
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 | €287,357 | €333,303 | +€45,946 | +16.0% |
| Fixed assets | 21/28 | €3,422 | €3,878 | +€456 | +13.3% |
| Tangible fixed assets | 22/27 | €3,422 | €3,878 | +€456 | +13.3% |
| Plant, machinery and equipment | 23 | €2,241 | €1,676 | -€565 | -25.2% |
| Furniture and vehicles | 24 | €1,182 | €2,202 | +€1,021 | +86.4% |
| Current assets | 29/58 | €283,935 | €329,425 | +€45,490 | +16.0% |
| Amounts receivable after more than one year | 29 | €237,416 | €0 | -€237,416 | -100% |
| Other amounts receivable | 291 | €237,416 | €0 | -€237,416 | -100% |
| Amounts receivable within one year | 40/41 | €31,152 | €316,632 | +€285,480 | +916% |
| Trade receivables | 40 | €31,152 | €86,299 | +€55,147 | +177% |
| Other amounts receivable | 41 | €0 | €230,333 | +€230,333 | |
| Cash at bank and in hand | 54/58 | €6,993 | €5,352 | -€1,641 | -23.5% |
| Deferred charges and accrued income | 490/1 | €8,374 | €7,441 | -€933 | -11.1% |
| Total equity and liabilities | 10/49 | €287,357 | €333,303 | +€45,946 | +16.0% |
| Equity | 10/15 | €90,910 | €86,764 | -€4,146 | -4.6% |
| Contributions | 10/11 | €13,592 | €13,592 | = | 0.0% |
| Reserves | 13 | €109,577 | €73,172 | -€36,405 | -33.2% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Distributable reserves | 133 | €107,717 | €73,172 | -€34,546 | -32.1% |
| Profit (loss) carried forward | 14 | -€32,259 | €0 | +€32,259 | |
| Amounts payable | 17/49 | €196,448 | €246,539 | +€50,091 | +25.5% |
| Amounts payable after more than one year | 17 | €30,000 | €31,340 | +€1,340 | +4.5% |
| Financial debts | 170/4 | €30,000 | €31,340 | +€1,340 | +4.5% |
| Amounts payable within one year | 42/48 | €166,448 | €206,114 | +€39,666 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €9,675 | €0 | -€9,675 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €61,807 | €125,891 | +€64,083 | +104% |
| Suppliers | 440/4 | €61,807 | €125,891 | +€64,083 | +104% |
| Taxes, remuneration and social security | 45 | €14,280 | €23,929 | +€9,649 | +67.6% |
| Taxes | 450/3 | €4,724 | €14,796 | +€10,072 | +213% |
| Remuneration and social security | 454/9 | €9,556 | €9,133 | -€423 | -4.4% |
| Other amounts payable | 47/48 | €80,686 | €56,295 | -€24,391 | -30.2% |
| Accrued charges and deferred income | 492/3 | - | €9,085 | +€9,085 | |
| Remuneration, social security and pensions | 62 | €49,488 | €70,745 | +€21,257 | +43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,540 | €1,932 | +€392 | +25.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €54,874 | +€54,874 | |
| Other operating charges | 640/8 | €1,639 | €3,482 | +€1,843 | +112% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €51,537 | €199,006 | +€147,469 | +286% |
| Operating profit (loss) | 9901 | -€1,130 | €67,974 | +€69,104 | |
| Financial income | 75/76B | €4,418 | €13,251 | +€8,833 | +200% |
| Recurring financial income | 75 | €4,418 | €13,251 | +€8,833 | +200% |
| Financial charges | 65/66B | €21,954 | €14,876 | -€7,078 | -32.2% |
| Recurring financial charges | 65 | €21,954 | €14,876 | -€7,078 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,665 | €66,349 | +€85,014 | |
| Income taxes | 67/77 | €2,363 | €14,200 | +€11,837 | +501% |
| Profit (loss) for the period | 9904 | -€21,028 | €52,149 | +€73,177 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,028 | €52,149 | +€73,177 |
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 14 October 2026 via checked.be.