CVS RENAAT: 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.
CVS RENAAT
Largest movements
- Tangible fixed assets +€31,820
up €31,820 (+120%), from €26,542 to €58,362
of which Land and buildings: +€38,946
- Receivables within one year +€31,567
up €31,567 (+7.1%), from €445,002 to €476,568
of which Other amounts receivable: +€45,341
- Cash -€17,170
down €17,170 (-5.0%), from €344,747 to €327,578
mainly Investment in fixed assets (net) (-€45,062) and Tax, wage and social debts (-€43,216)
- Reserves +€83,060
up €83,060 (+11.3%), from €735,147 to €818,207
of which Distributable reserves: +€83,060
- Tax, wage and social debts -€43,216
down €43,216 (-59.8%), from €72,308 to €29,092
- Gross operating margin -€103,114
down €103,114 (-49.7%), from €207,307 to €104,193
- Taxes -€34,150
down €34,150 (-51.7%), from €66,101 to €31,951
- Financial income +€14,157
up €14,157 (+126%), from €11,213 to €25,371
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 | €820,504 | €864,016 | +€43,513 | +5.3% |
| Fixed assets | 21/28 | €26,567 | €58,387 | +€31,820 | +120% |
| Tangible fixed assets | 22/27 | €26,542 | €58,362 | +€31,820 | +120% |
| Land and buildings | 22 | €3,198 | €42,144 | +€38,946 | +1,218% |
| Plant, machinery and equipment | 23 | €1,161 | €1,344 | +€183 | +15.8% |
| Furniture and vehicles | 24 | €22,183 | €14,874 | -€7,309 | -32.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €793,937 | €805,629 | +€11,693 | +1.5% |
| Amounts receivable within one year | 40/41 | €445,002 | €476,568 | +€31,567 | +7.1% |
| Trade receivables | 40 | €17,321 | €3,546 | -€13,775 | -79.5% |
| Other amounts receivable | 41 | €427,681 | €473,022 | +€45,341 | +10.6% |
| Cash at bank and in hand | 54/58 | €344,747 | €327,578 | -€17,170 | -5.0% |
| Deferred charges and accrued income | 490/1 | €4,188 | €1,483 | -€2,704 | -64.6% |
| Total equity and liabilities | 10/49 | €820,504 | €864,016 | +€43,513 | +5.3% |
| Equity | 10/15 | €747,547 | €830,607 | +€83,060 | +11.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €735,147 | €818,207 | +€83,060 | +11.3% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €697,647 | €780,707 | +€83,060 | +11.9% |
| Amounts payable | 17/49 | €72,957 | €33,409 | -€39,548 | -54.2% |
| Amounts payable within one year | 42/48 | €72,957 | €33,409 | -€39,548 | -54.2% |
| Financial debts | 43 | €390 | - | -€390 | |
| Credit institutions | 430/8 | €390 | - | -€390 | |
| Trade debts | 44 | €259 | €4,317 | +€4,058 | +1,568% |
| Suppliers | 440/4 | €259 | €4,317 | +€4,058 | +1,568% |
| Taxes, remuneration and social security | 45 | €72,308 | €29,092 | -€43,216 | -59.8% |
| Taxes | 450/3 | €72,308 | €29,092 | -€43,216 | -59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,630 | €13,242 | +€612 | +4.8% |
| Other operating charges | 640/8 | €251 | €233 | -€18 | -7.3% |
| Gross operating margin | 9900 | €207,307 | €104,193 | -€103,114 | -49.7% |
| Operating profit (loss) | 9901 | €194,425 | €90,718 | -€103,707 | -53.3% |
| Financial income | 75/76B | €11,213 | €25,371 | +€14,157 | +126% |
| Recurring financial income | 75 | €11,213 | €25,371 | +€14,157 | +126% |
| Financial charges | 65/66B | €437 | €1,078 | +€641 | +147% |
| Recurring financial charges | 65 | €437 | €1,078 | +€641 | +147% |
| Profit (loss) for the period before taxes | 9903 | €205,202 | €115,011 | -€90,191 | -44.0% |
| Income taxes | 67/77 | €66,101 | €31,951 | -€34,150 | -51.7% |
| Profit (loss) for the period | 9904 | €139,101 | €83,060 | -€56,041 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €139,101 | €83,060 | -€56,041 | -40.3% |
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 20 October 2026 via checked.be.