I.RE.NA: 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.
I.RE.NA
Largest movements
- Tangible fixed assets -€19,034
down €19,034 (-5.3%), from €356,220 to €337,186
- Receivables within one year +€5,081
up €5,081 (+7.7%), from €65,647 to €70,729
of which Other amounts receivable: +€7,032
- Profit (loss) carried forward -€31,117
down €31,117, from €6,690 to -€24,426
- Tax, wage and social debts -€7,725
down €7,725 (-43.8%), from €17,631 to €9,906
of which Taxes: -€6,130
- Short-term financial debts +€6,825
new in 2025: €6,825
- Current portion of long-term debt +€6,735
up €6,735 (+26.5%), from €25,376 to €32,110
- Trade debts +€5,139
up €5,139 (+11.4%), from €45,234 to €50,373
- Purchases and services -€139,593
down €139,593 (-35.9%), from €389,138 to €249,545
- Gross operating margin -€40,278
down €40,278 (-51.2%), from €78,661 to €38,384
- Staff costs -€6,351
down €6,351 (-15.5%), from €40,942 to €34,592
- Taxes -€3,145
down €3,145 (-86.8%), from €3,621 to €476
- Depreciation +€1,093
up €1,093 (+6.1%), from €17,880 to €18,973
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 | €430,949 | €412,094 | -€18,855 | -4.4% |
| Fixed assets | 21/28 | €356,220 | €337,186 | -€19,034 | -5.3% |
| Tangible fixed assets | 22/27 | €356,220 | €337,186 | -€19,034 | -5.3% |
| Land and buildings | 22 | €328,057 | €319,053 | -€9,004 | -2.7% |
| Plant, machinery and equipment | 23 | €4,519 | €3,767 | -€752 | -16.6% |
| Furniture and vehicles | 24 | €9,105 | €5,087 | -€4,019 | -44.1% |
| Leasing and similar rights | 25 | €14,539 | €9,280 | -€5,259 | -36.2% |
| Current assets | 29/58 | €74,729 | €74,908 | +€179 | +0.2% |
| Stocks and contracts in progress | 3 | €5,005 | €3,181 | -€1,824 | -36.4% |
| Stocks | 30/36 | €5,005 | €3,181 | -€1,824 | -36.4% |
| Amounts receivable within one year | 40/41 | €65,647 | €70,729 | +€5,081 | +7.7% |
| Trade receivables | 40 | €3,232 | €1,282 | -€1,950 | -60.3% |
| Other amounts receivable | 41 | €62,415 | €69,447 | +€7,032 | +11.3% |
| Cash at bank and in hand | 54/58 | €3,334 | - | -€3,334 | |
| Deferred charges and accrued income | 490/1 | €743 | €998 | +€256 | +34.4% |
| Total equity and liabilities | 10/49 | €430,949 | €412,094 | -€18,855 | -4.4% |
| Equity | 10/15 | €61,437 | €30,320 | -€31,117 | -50.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €48,546 | €48,546 | = | 0.0% |
| 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 | €46,686 | €46,686 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,690 | -€24,426 | -€31,117 | |
| Amounts payable | 17/49 | €369,513 | €381,774 | +€12,261 | +3.3% |
| Amounts payable after more than one year | 17 | €281,016 | €281,299 | +€283 | +0.1% |
| Financial debts | 170/4 | €281,016 | €281,299 | +€283 | +0.1% |
| Amounts payable within one year | 42/48 | €88,496 | €100,475 | +€11,978 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €25,376 | €32,110 | +€6,735 | +26.5% |
| Financial debts | 43 | - | €6,825 | +€6,825 | |
| Credit institutions | 430/8 | - | €6,825 | +€6,825 | |
| Trade debts | 44 | €45,234 | €50,373 | +€5,139 | +11.4% |
| Suppliers | 440/4 | €45,234 | €50,373 | +€5,139 | +11.4% |
| Taxes, remuneration and social security | 45 | €17,631 | €9,906 | -€7,725 | -43.8% |
| Taxes | 450/3 | €14,922 | €8,792 | -€6,130 | -41.1% |
| Remuneration and social security | 454/9 | €2,709 | €1,114 | -€1,595 | -58.9% |
| Other amounts payable | 47/48 | €256 | €1,261 | +€1,005 | +393% |
| Goods, raw materials, services and sundry goods | 60/61 | €389,138 | €249,545 | -€139,593 | -35.9% |
| Remuneration, social security and pensions | 62 | €40,942 | €34,592 | -€6,351 | -15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,880 | €18,973 | +€1,093 | +6.1% |
| Other operating charges | 640/8 | €2,527 | €3,305 | +€778 | +30.8% |
| Non-recurring operating charges | 66A | - | €570 | +€570 | |
| Gross operating margin | 9900 | €78,661 | €38,384 | -€40,278 | -51.2% |
| Operating profit (loss) | 9901 | €17,312 | -€19,056 | -€36,368 | |
| Financial income | 75/76B | €1 | €3 | +€1 | +107% |
| Recurring financial income | 75 | €1 | €3 | +€1 | +107% |
| Financial charges | 65/66B | €11,621 | €11,587 | -€33 | -0.3% |
| Recurring financial charges | 65 | €11,621 | €11,587 | -€33 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €5,693 | -€30,640 | -€36,333 | |
| Income taxes | 67/77 | €3,621 | €476 | -€3,145 | -86.8% |
| Profit (loss) for the period | 9904 | €2,072 | -€31,117 | -€33,188 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,072 | -€31,117 | -€33,188 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.