De Rena: 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.
De Rena
Largest movements
- Receivables within one year +€271,974
up €271,974 (+440%), from €61,838 to €333,812
of which Other amounts receivable: +€264,188
- Cash -€27,810
down €27,810 (-58.8%), from €47,283 to €19,473
mainly Receivables within one year (-€271,974) and Trade debts (-€16,435)
- Stocks and contracts -€18,105
no longer reported in 2025 (was €18,105)
- Reserves +€183,578
up €183,578 (+246%), from €74,653 to €258,231
of which Distributable reserves: +€183,578
- Tax, wage and social debts +€54,724
up €54,724 (+410%), from €13,341 to €68,064
of which Taxes: +€57,024
- Trade debts -€16,435
down €16,435 (-54.8%), from €29,982 to €13,547
- Gross operating margin +€210,750
up €210,750 (+441%), from €47,777 to €258,527
- Taxes +€58,233
up €58,233 (+695%), from €8,383 to €66,617
- Other operating charges +€3,038
up €3,038 (+80.0%), from €3,799 to €6,837
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 | €136,575 | €358,443 | +€221,868 | +162% |
| Fixed assets | 21/28 | €7,450 | €3,900 | -€3,550 | -47.6% |
| Tangible fixed assets | 22/27 | €1,150 | - | -€1,150 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,150 | - | -€1,150 | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €6,300 | €3,900 | -€2,400 | -38.1% |
| Current assets | 29/58 | €129,126 | €354,543 | +€225,417 | +175% |
| Stocks and contracts in progress | 3 | €18,105 | - | -€18,105 | |
| Stocks | 30/36 | €18,105 | - | -€18,105 | |
| Amounts receivable within one year | 40/41 | €61,838 | €333,812 | +€271,974 | +440% |
| Trade receivables | 40 | €226 | €8,012 | +€7,786 | +3,438% |
| Other amounts receivable | 41 | €61,611 | €325,800 | +€264,188 | +429% |
| Cash at bank and in hand | 54/58 | €47,283 | €19,473 | -€27,810 | -58.8% |
| Deferred charges and accrued income | 490/1 | €1,900 | €1,258 | -€642 | -33.8% |
| Total equity and liabilities | 10/49 | €136,575 | €358,443 | +€221,868 | +162% |
| Equity | 10/15 | €93,253 | €276,831 | +€183,578 | +197% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €74,653 | €258,231 | +€183,578 | +246% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €72,793 | €256,371 | +€183,578 | +252% |
| Amounts payable | 17/49 | €43,322 | €81,612 | +€38,289 | +88.4% |
| Amounts payable within one year | 42/48 | €43,322 | €81,612 | +€38,289 | +88.4% |
| Trade debts | 44 | €29,982 | €13,547 | -€16,435 | -54.8% |
| Suppliers | 440/4 | €29,982 | €13,547 | -€16,435 | -54.8% |
| Taxes, remuneration and social security | 45 | €13,341 | €68,064 | +€54,724 | +410% |
| Taxes | 450/3 | €11,041 | €68,064 | +€57,024 | +516% |
| Remuneration and social security | 454/9 | €2,300 | - | -€2,300 | |
| Non-recurring operating income | 76A | - | €228,850 | +€228,850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €520 | - | -€520 | |
| Other operating charges | 640/8 | €3,799 | €6,837 | +€3,038 | +80.0% |
| Gross operating margin | 9900 | €47,777 | €258,527 | +€210,750 | +441% |
| Operating profit (loss) | 9901 | €43,458 | €251,690 | +€208,232 | +479% |
| Financial income | 75/76B | €130 | €1,187 | +€1,057 | +810% |
| Recurring financial income | 75 | €130 | €1,187 | +€1,057 | +810% |
| Financial charges | 65/66B | €2,818 | €2,683 | -€135 | -4.8% |
| Recurring financial charges | 65 | €2,818 | €2,683 | -€135 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €40,771 | €250,195 | +€209,424 | +514% |
| Income taxes | 67/77 | €8,383 | €66,617 | +€58,233 | +695% |
| Profit (loss) for the period | 9904 | €32,388 | €183,578 | +€151,190 | +467% |
| Profit (loss) for the period to be appropriated | 9905 | €32,388 | €183,578 | +€151,190 | +467% |
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 16 October 2026 via checked.be.