Etienne Renversez: 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.
Etienne Renversez
Largest movements
- Receivables within one year +€30,109
up €30,109 (+358%), from €8,419 to €38,528
of which Trade receivables: +€38,528
- Cash -€10,551
down €10,551 (-21.0%), from €50,232 to €39,682
mainly Contributions, distributions and other (-€46,900) and Receivables within one year (-€30,109)
- Receivables after one year -€3,980
down €3,980 (-100%), from €3,980 to €0
- Tangible fixed assets -€1,619
down €1,619 (-29.5%), from €5,483 to €3,864
of which Furniture and vehicles: -€1,168
- Other debts +€19,002
up €19,002 (+67.9%), from €28,000 to €47,002
- Profit (loss) carried forward -€11,121
down €11,121 (-69.1%), from €16,087 to €4,965
- Tax, wage and social debts +€8,068
up €8,068 (+38.6%), from €20,908 to €28,976
- Trade debts -€2,127
down €2,127 (-49.4%), from €4,306 to €2,179
- Gross operating margin +€10,224
up €10,224 (+21.4%), from €47,860 to €58,084
- Taxes +€2,646
up €2,646 (+24.9%), from €10,639 to €13,285
- Depreciation -€809
down €809 (-33.3%), from €2,428 to €1,619
- Financial charges -€586
down €586 (-8.6%), from €6,803 to €6,217
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 | €73,549 | €87,131 | +€13,582 | +18.5% |
| Fixed assets | 21/28 | €5,483 | €3,864 | -€1,619 | -29.5% |
| Tangible fixed assets | 22/27 | €5,483 | €3,864 | -€1,619 | -29.5% |
| Furniture and vehicles | 24 | €2,570 | €1,402 | -€1,168 | -45.5% |
| Other tangible fixed assets | 26 | €2,913 | €2,462 | -€451 | -15.5% |
| Current assets | 29/58 | €68,066 | €83,267 | +€15,201 | +22.3% |
| Amounts receivable after more than one year | 29 | €3,980 | €0 | -€3,980 | -100% |
| Other amounts receivable | 291 | €3,980 | €0 | -€3,980 | -100% |
| Amounts receivable within one year | 40/41 | €8,419 | €38,528 | +€30,109 | +358% |
| Trade receivables | 40 | - | €38,528 | +€38,528 | |
| Other amounts receivable | 41 | €8,419 | €0 | -€8,419 | -100% |
| Cash at bank and in hand | 54/58 | €50,232 | €39,682 | -€10,551 | -21.0% |
| Deferred charges and accrued income | 490/1 | €5,435 | €5,057 | -€378 | -6.9% |
| Total equity and liabilities | 10/49 | €73,549 | €87,131 | +€13,582 | +18.5% |
| Equity | 10/15 | €20,087 | €8,965 | -€11,121 | -55.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,087 | €4,965 | -€11,121 | -69.1% |
| Amounts payable | 17/49 | €53,462 | €78,166 | +€24,703 | +46.2% |
| Amounts payable within one year | 42/48 | €53,214 | €78,157 | +€24,943 | +46.9% |
| Trade debts | 44 | €4,306 | €2,179 | -€2,127 | -49.4% |
| Suppliers | 440/4 | €4,306 | €2,179 | -€2,127 | -49.4% |
| Taxes, remuneration and social security | 45 | €20,908 | €28,976 | +€8,068 | +38.6% |
| Taxes | 450/3 | €20,908 | €28,976 | +€8,068 | +38.6% |
| Other amounts payable | 47/48 | €28,000 | €47,002 | +€19,002 | +67.9% |
| Accrued charges and deferred income | 492/3 | €248 | €9 | -€240 | -96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,428 | €1,619 | -€809 | -33.3% |
| Other operating charges | 640/8 | €1,507 | €1,206 | -€301 | -20.0% |
| Gross operating margin | 9900 | €47,860 | €58,084 | +€10,224 | +21.4% |
| Operating profit (loss) | 9901 | €43,925 | €55,259 | +€11,334 | +25.8% |
| Financial income | 75/76B | €121 | €22 | -€99 | -82.1% |
| Recurring financial income | 75 | €121 | €22 | -€99 | -82.1% |
| Financial charges | 65/66B | €6,803 | €6,217 | -€586 | -8.6% |
| Recurring financial charges | 65 | €6,803 | €6,217 | -€586 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €37,243 | €49,064 | +€11,821 | +31.7% |
| Income taxes | 67/77 | €10,639 | €13,285 | +€2,646 | +24.9% |
| Profit (loss) for the period | 9904 | €26,604 | €35,779 | +€9,175 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,604 | €35,779 | +€9,175 | +34.5% |
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 30 October 2026 via checked.be.