generation renaissance: what changed
Two fiscal 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.
generation renaissance
Largest movements
- Receivables within one year -€72,422
down €72,422 (-43.7%), from €165,670 to €93,248
of which Other amounts receivable: -€148,754
- Receivables after one year +€26,088
up €26,088 (+340.7%), from €7,657 to €33,745
- Cash -€21,210
down €21,210 (-71.1%), from €29,811 to €8,602
mainly Tax, wage and social debts (-€64,606) and Trade debts (-€54,109)
- Deferred charges and accrued income -€11,082
no longer reported in 2025 (was €11,082)
- Tangible fixed assets -€5,592
down €5,592 (-85.5%), from €6,539 to €948
of which Furniture and vehicles: -€4,870
- Tax, wage and social debts -€64,606
down €64,606 (-72.4%), from €89,186 to €24,580
of which Taxes: -€44,268
- Trade debts -€54,109
no longer reported in 2025 (was €54,109)
- Profit (loss) carried forward +€15,198
up €15,198 (+21.4%), from €71,163 to €86,361
- Contributions +€12,300
up €12,300 (+195.2%), from €6,300 to €18,600
- Accrued charges and deferred income +€7,000
up €7,000, from €0 to €7,000
- Gross operating margin -€32,493
down €32,493 (-28.9%), from €112,410 to €79,917
- Taxes +€10,000
new in 2025: €10,000
- Staff costs -€5,983
down €5,983 (-15.1%), from €39,591 to €33,607
- Financial charges -€1,640
down €1,640 (-74.5%), from €2,203 to €563
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.
Cash bridge derived
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 | €220,758 | €136,541 | -€84,217 | -38.1% |
| Fixed assets | 21/28 | €6,539 | €948 | -€5,592 | -85.5% |
| Tangible fixed assets | 22/27 | €6,539 | €948 | -€5,592 | -85.5% |
| Plant, machinery and equipment | 23 | €1,670 | €948 | -€722 | -43.2% |
| Furniture and vehicles | 24 | €4,870 | - | -€4,870 | |
| Current assets | 29/58 | €214,219 | €135,594 | -€78,625 | -36.7% |
| Amounts receivable after more than one year | 29 | €7,657 | €33,745 | +€26,088 | +340.7% |
| Other amounts receivable | 291 | €7,657 | €33,745 | +€26,088 | +340.7% |
| Amounts receivable within one year | 40/41 | €165,670 | €93,248 | -€72,422 | -43.7% |
| Trade receivables | 40 | €167 | €76,499 | +€76,332 | +45724.2% |
| Other amounts receivable | 41 | €165,503 | €16,749 | -€148,754 | -89.9% |
| Cash at bank and in hand | 54/58 | €29,811 | €8,602 | -€21,210 | -71.1% |
| Deferred charges and accrued income | 490/1 | €11,082 | - | -€11,082 | |
| Total equity and liabilities | 10/49 | €220,758 | €136,541 | -€84,217 | -38.1% |
| Equity | 10/15 | €77,463 | €104,961 | +€27,498 | +35.5% |
| Contributions | 10/11 | €6,300 | €18,600 | +€12,300 | +195.2% |
| Capital | 10 | €6,300 | €18,600 | +€12,300 | +195.2% |
| Issued capital | 100 | €6,300 | €18,600 | +€12,300 | +195.2% |
| Uncalled capital | 101 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €71,163 | €86,361 | +€15,198 | +21.4% |
| Amounts payable | 17/49 | €143,295 | €31,580 | -€111,715 | -78.0% |
| Amounts payable within one year | 42/48 | €143,295 | €24,580 | -€118,715 | -82.8% |
| Trade debts | 44 | €54,109 | - | -€54,109 | |
| Suppliers | 440/4 | €54,109 | - | -€54,109 | |
| Taxes, remuneration and social security | 45 | €89,186 | €24,580 | -€64,606 | -72.4% |
| Taxes | 450/3 | €54,335 | €10,067 | -€44,268 | -81.5% |
| Remuneration and social security | 454/9 | €34,851 | €14,513 | -€20,338 | -58.4% |
| Accrued charges and deferred income | 492/3 | €0 | €7,000 | +€7,000 | |
| Remuneration, social security and pensions | 62 | €39,591 | €33,607 | -€5,983 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,473 | €6,331 | -€142 | -2.2% |
| Other operating charges | 640/8 | €1,545 | €438 | -€1,108 | -71.7% |
| Gross operating margin | 9900 | €112,410 | €79,917 | -€32,493 | -28.9% |
| Operating profit (loss) | 9901 | €64,801 | €39,541 | -€25,260 | -39.0% |
| Financial income | 75/76B | €0 | €59 | +€59 | +585800.0% |
| Recurring financial income | 75 | €0 | €59 | +€59 | +585800.0% |
| Financial charges | 65/66B | €2,203 | €563 | -€1,640 | -74.5% |
| Recurring financial charges | 65 | €2,203 | €563 | -€1,640 | -74.5% |
| Profit (loss) for the period before taxes | 9903 | €62,599 | €39,037 | -€23,561 | -37.6% |
| Income taxes | 67/77 | - | €10,000 | +€10,000 | |
| Profit (loss) for the period | 9904 | €62,599 | €29,037 | -€33,561 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,599 | €29,037 | -€33,561 | -53.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.