E-RENTING: 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.
What changed
E-RENTING
NACE 77.120, Rental and leasing activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€44,767
2024 · €164,900-€120,133
Equity
€3.7m
2024 · €3.6m+€44,767
Cash
€237,115
2024 · €161,893+€75,222
Balance sheet total
€32.7m
2024 · €27.0m+€5.8m
Largest movements
Assets
- Tangible fixed assets +€4.2m
up €4.2m (+17.9%), from €23.3m to €27.4m
of which Leasing and similar rights: +€3.8m
- Receivables within one year +€1.5m
up €1.5m (+44.1%), from €3.3m to €4.8m
of which Trade receivables: +€1.9m
Equity and liabilities
- Debts after one year +€3.5m
up €3.5m (+21.4%), from €16.3m to €19.8m
- Current portion of long-term debt +€1.3m
up €1.3m (+22.6%), from €5.9m to €7.2m
- Other debts +€1.2m
up €1.2m (+3,859%), from €30,356 to €1.2m
- Short-term financial debts -€568,528
down €568,528 (-81.4%), from €698,667 to €130,139
of which Credit institutions: -€568,528
- Trade debts +€341,547
up €341,547 (+87.3%), from €391,439 to €732,986
Income statement
- Depreciation +€2.4m
up €2.4m (+40.6%), from €6.0m to €8.4m
- Gross operating margin +€2.4m
up €2.4m (+31.7%), from €7.6m to €10.0m
- Financial charges +€325,260
up €325,260 (+36.3%), from €895,519 to €1.2m
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.
Result 2024
€164,900
Gross operating margin
+€2.4m
Staff costs
-€12
Depreciation
-€2.4m
Write-downs
+€48,866
Other operating charges
+€86,081
Other operating items
+€26,750
Financial income
+€23,606
Financial charges
-€325,260
Taxes
+€39,944
Result 2025
€44,767
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€8.4m
Investment
-€12.6m
Financing
+€4.3m
Cash 2024
€161,893
From operations (derived)
+€8.4m
Net result for the year
+€44,767
Depreciation
+€8.4m
Stocks and contracts
-€57,677
Receivables within one year
-€1.5m
Smaller working-capital items
-€31,780
Trade debts
+€341,547
Other debts
+€1.2m
Investment (derived)
-€12.6m
Investment in fixed assets (net)
-€12.6m
Financing
+€4.3m
Debts after one year
+€3.5m
Current portion of long-term debt
+€1.3m
Short-term financial debts
-€568,528
Cash 2025
€237,115
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,961,323 | €32,749,788 | +€5.8m | +21.5% |
| Fixed assets | 21/28 | €23,257,672 | €27,430,160 | +€4.2m | +17.9% |
| Tangible fixed assets | 22/27 | €23,251,122 | €27,423,610 | +€4.2m | +17.9% |
| Plant, machinery and equipment | 23 | €6,792 | €4,940 | -€1,852 | -27.3% |
| Furniture and vehicles | 24 | €3,263,388 | €3,683,186 | +€419,798 | +12.9% |
| Leasing and similar rights | 25 | €19,980,942 | €23,735,485 | +€3.8m | +18.8% |
| Financial fixed assets | 28 | €6,550 | €6,550 | = | 0.0% |
| Current assets | 29/58 | €3,703,651 | €5,319,627 | +€1.6m | +43.6% |
| Stocks and contracts in progress | 3 | €200,192 | €257,869 | +€57,677 | +28.8% |
| Stocks | 30/36 | €200,192 | €257,869 | +€57,677 | +28.8% |
| Amounts receivable within one year | 40/41 | €3,340,118 | €4,812,209 | +€1.5m | +44.1% |
| Trade receivables | 40 | €2,169,841 | €4,030,104 | +€1.9m | +85.7% |
| Other amounts receivable | 41 | €1,170,277 | €782,105 | -€388,172 | -33.2% |
| Cash at bank and in hand | 54/58 | €161,893 | €237,115 | +€75,222 | +46.5% |
| Deferred charges and accrued income | 490/1 | €1,448 | €12,435 | +€10,987 | +759% |
| Total equity and liabilities | 10/49 | €26,961,323 | €32,749,788 | +€5.8m | +21.5% |
| Equity | 10/15 | €3,633,210 | €3,677,977 | +€44,767 | +1.2% |
| Contributions | 10/11 | €706,200 | €706,200 | = | 0.0% |
| Reserves | 13 | €2,927,010 | €2,971,777 | +€44,767 | +1.5% |
| Distributable reserves | 133 | €2,927,010 | €2,971,777 | +€44,767 | +1.5% |
| Amounts payable | 17/49 | €23,328,113 | €29,071,811 | +€5.7m | +24.6% |
| Amounts payable after more than one year | 17 | €16,293,663 | €19,782,918 | +€3.5m | +21.4% |
| Financial debts | 170/4 | €16,293,663 | €19,782,918 | +€3.5m | +21.4% |
| Amounts payable within one year | 42/48 | €7,004,442 | €9,279,678 | +€2.3m | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €5,883,981 | €7,214,699 | +€1.3m | +22.6% |
| Financial debts | 43 | €698,667 | €130,139 | -€568,528 | -81.4% |
| Credit institutions | 430/8 | €598,667 | €30,139 | -€568,528 | -95.0% |
| Other loans | 439 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €391,439 | €732,986 | +€341,547 | +87.3% |
| Suppliers | 440/4 | €391,439 | €732,986 | +€341,547 | +87.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €30,356 | €1,201,854 | +€1.2m | +3,859% |
| Accrued charges and deferred income | 492/3 | €30,008 | €9,215 | -€20,793 | -69.3% |
| Remuneration, social security and pensions | 62 | - | €12 | +€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,963,414 | €8,385,652 | +€2.4m | +40.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €188,097 | €139,231 | -€48,866 | -26.0% |
| Other operating charges | 640/8 | €358,590 | €272,509 | -€86,081 | -24.0% |
| Non-recurring operating charges | 66A | €26,750 | €0 | -€26,750 | -100% |
| Gross operating margin | 9900 | €7,566,025 | €9,968,156 | +€2.4m | +31.7% |
| Operating profit (loss) | 9901 | €1,029,173 | €1,170,751 | +€141,578 | +13.8% |
| Financial income | 75/76B | €87,221 | €110,827 | +€23,606 | +27.1% |
| Recurring financial income | 75 | €87,221 | €110,827 | +€23,606 | +27.1% |
| Financial charges | 65/66B | €895,519 | €1,220,779 | +€325,260 | +36.3% |
| Recurring financial charges | 65 | €895,519 | €1,220,779 | +€325,260 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €220,876 | €60,800 | -€160,077 | -72.5% |
| Income taxes | 67/77 | €55,977 | €16,033 | -€39,944 | -71.4% |
| Profit (loss) for the period | 9904 | €164,900 | €44,767 | -€120,133 | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €164,900 | €44,767 | -€120,133 | -72.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.