IMMO - RENARDEAU: 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.
IMMO - RENARDEAU
Largest movements
- Receivables within one year -€159,704
down €159,704 (-40.0%), from €399,561 to €239,856
of which Other amounts receivable: -€128,567
- Tangible fixed assets -€72,519
down €72,519 (-6.2%), from €1.2m to €1.1m
of which Land and buildings: -€40,248
- Deferred charges and accrued income -€20,256
down €20,256 (-41.3%), from €49,083 to €28,826
- Stocks and contracts +€19,952
up €19,952 (+191%), from €10,465 to €30,417
- Profit (loss) carried forward -€91,841
down €91,841 (-157%), from -€58,441 to -€150,282
- Debts after one year -€48,785
down €48,785 (-24.2%), from €201,355 to €152,570
- Other debts -€47,760
down €47,760 (-23.6%), from €202,006 to €154,246
- Tax, wage and social debts -€19,838
down €19,838 (-32.8%), from €60,434 to €40,596
of which Taxes: -€20,372
- Gross operating margin -€104,493
down €104,493 (-30.3%), from €344,423 to €239,930
- Staff costs -€77,202
down €77,202 (-27.3%), from €282,320 to €205,118
- Financial income -€11,849
down €11,849 (-83.7%), from €14,155 to €2,306
- Financial charges -€5,224
down €5,224 (-23.4%), from €22,366 to €17,143
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 | €1,652,960 | €1,405,787 | -€247,173 | -15.0% |
| Fixed assets | 21/28 | €1,160,890 | €1,089,399 | -€71,491 | -6.2% |
| Intangible fixed assets | 21 | - | €1,028 | +€1,028 | |
| Tangible fixed assets | 22/27 | €1,160,890 | €1,088,371 | -€72,519 | -6.2% |
| Land and buildings | 22 | €1,017,929 | €977,681 | -€40,248 | -4.0% |
| Plant, machinery and equipment | 23 | €22,797 | €19,141 | -€3,656 | -16.0% |
| Furniture and vehicles | 24 | €120,163 | €91,549 | -€28,614 | -23.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €492,070 | €316,388 | -€175,682 | -35.7% |
| Stocks and contracts in progress | 3 | €10,465 | €30,417 | +€19,952 | +191% |
| Stocks | 30/36 | €10,465 | €30,417 | +€19,952 | +191% |
| Amounts receivable within one year | 40/41 | €399,561 | €239,856 | -€159,704 | -40.0% |
| Trade receivables | 40 | €155,057 | €123,920 | -€31,138 | -20.1% |
| Other amounts receivable | 41 | €244,503 | €115,936 | -€128,567 | -52.6% |
| Cash at bank and in hand | 54/58 | €32,962 | €17,288 | -€15,674 | -47.6% |
| Deferred charges and accrued income | 490/1 | €49,083 | €28,826 | -€20,256 | -41.3% |
| Total equity and liabilities | 10/49 | €1,652,960 | €1,405,787 | -€247,173 | -15.0% |
| Equity | 10/15 | €907,312 | €815,471 | -€91,841 | -10.1% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €943,753 | €943,753 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,454 | €8,454 | = | 0.0% |
| Distributable reserves | 133 | €935,299 | €935,299 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,441 | -€150,282 | -€91,841 | -157% |
| Amounts payable | 17/49 | €745,648 | €590,316 | -€155,331 | -20.8% |
| Amounts payable after more than one year | 17 | €201,355 | €152,570 | -€48,785 | -24.2% |
| Financial debts | 170/4 | €201,355 | €152,570 | -€48,785 | -24.2% |
| Amounts payable within one year | 42/48 | €523,745 | €425,746 | -€97,999 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €48,993 | €48,785 | -€208 | -0.4% |
| Financial debts | 43 | - | €6 | +€6 | |
| Credit institutions | 430/8 | - | €6 | +€6 | |
| Trade debts | 44 | €133,759 | €119,710 | -€14,049 | -10.5% |
| Suppliers | 440/4 | €133,759 | €119,710 | -€14,049 | -10.5% |
| Advances received on contracts in progress | 46 | €78,553 | €62,403 | -€16,150 | -20.6% |
| Taxes, remuneration and social security | 45 | €60,434 | €40,596 | -€19,838 | -32.8% |
| Taxes | 450/3 | €35,420 | €15,048 | -€20,372 | -57.5% |
| Remuneration and social security | 454/9 | €25,015 | €25,548 | +€534 | +2.1% |
| Other amounts payable | 47/48 | €202,006 | €154,246 | -€47,760 | -23.6% |
| Accrued charges and deferred income | 492/3 | €20,548 | €12,000 | -€8,548 | -41.6% |
| Non-recurring operating income | 76A | €48,951 | €0 | -€48,951 | -100% |
| Remuneration, social security and pensions | 62 | €282,320 | €205,118 | -€77,202 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,086 | €92,153 | +€2,067 | +2.3% |
| Other operating charges | 640/8 | €20,530 | €17,396 | -€3,135 | -15.3% |
| Non-recurring operating charges | 66A | €0 | €1,750 | +€1,750 | |
| Gross operating margin | 9900 | €344,423 | €239,930 | -€104,493 | -30.3% |
| Operating profit (loss) | 9901 | -€48,512 | -€76,486 | -€27,974 | -57.7% |
| Financial income | 75/76B | €14,155 | €2,306 | -€11,849 | -83.7% |
| Recurring financial income | 75 | €14,155 | €2,306 | -€11,849 | -83.7% |
| Financial charges | 65/66B | €22,366 | €17,143 | -€5,224 | -23.4% |
| Recurring financial charges | 65 | €22,366 | €17,143 | -€5,224 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | -€56,724 | -€91,323 | -€34,600 | -61.0% |
| Income taxes | 67/77 | €0 | €518 | +€518 | +1,295,125% |
| Profit (loss) for the period | 9904 | -€56,724 | -€91,841 | -€35,118 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,724 | -€91,841 | -€35,118 | -61.9% |
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 29 October 2026 via checked.be.