J.RENAER: 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.
J.RENAER
Largest movements
- Stocks and contracts +€330,474
new in 2025: €330,474
- Receivables within one year +€178,605
up €178,605 (+2,424%), from €7,367 to €185,972
of which Trade receivables: +€178,978
- Cash +€150,724
up €150,724 (+1,520%), from €9,916 to €160,640
mainly Debts after one year (+€400,000) and Short-term financial debts (+€204,000)
- Debts after one year +€400,000
new in 2025: €400,000
- Short-term financial debts +€204,000
new in 2025: €204,000
- Profit (loss) carried forward +€63,296
up €63,296, from -€57,838 to €5,458
- Trade debts +€48,908
up €48,908 (+3,653%), from €1,339 to €50,247
- Reserves -€47,266
down €47,266 (-80.6%), from €58,606 to €11,340
of which Distributable reserves: -€47,266
- Gross operating margin +€50,696
up €50,696 (+378%), from €13,395 to €64,091
- Depreciation -€22,349
down €22,349 (-95.1%), from €23,491 to €1,142
- Other operating charges -€4,042
down €4,042 (-82.4%), from €4,908 to €866
- Financial charges +€2,035
up €2,035 (+613%), from €332 to €2,367
- Financial income -€1,228
down €1,228 (-25.5%), from €4,807 to €3,579
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 | €89,597 | €752,337 | +€662,740 | +740% |
| Fixed assets | 21/28 | €10,277 | €9,135 | -€1,142 | -11.1% |
| Tangible fixed assets | 22/27 | €10,277 | €9,135 | -€1,142 | -11.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €10,277 | €9,135 | -€1,142 | -11.1% |
| Current assets | 29/58 | €79,320 | €743,202 | +€663,882 | +837% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Trade receivables | 290 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €330,474 | +€330,474 | |
| Stocks | 30/36 | - | €330,474 | +€330,474 | |
| Amounts receivable within one year | 40/41 | €7,367 | €185,972 | +€178,605 | +2,424% |
| Trade receivables | 40 | €6,994 | €185,972 | +€178,978 | +2,559% |
| Other amounts receivable | 41 | €374 | €0 | -€374 | -100% |
| Cash at bank and in hand | 54/58 | €9,916 | €160,640 | +€150,724 | +1,520% |
| Deferred charges and accrued income | 490/1 | €12,037 | €16,116 | +€4,079 | +33.9% |
| Total equity and liabilities | 10/49 | €89,597 | €752,337 | +€662,740 | +740% |
| Equity | 10/15 | €68,941 | €84,972 | +€16,031 | +23.3% |
| Contributions | 10/11 | €68,173 | €68,173 | +€0 | 0.0% |
| Reserves | 13 | €58,606 | €11,340 | -€47,266 | -80.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €58,606 | €11,340 | -€47,266 | -80.6% |
| Profit (loss) carried forward | 14 | -€57,838 | €5,458 | +€63,296 | |
| Amounts payable | 17/49 | €20,656 | €667,365 | +€646,709 | +3,131% |
| Amounts payable after more than one year | 17 | - | €400,000 | +€400,000 | |
| Financial debts | 170/4 | - | €400,000 | +€400,000 | |
| Amounts payable within one year | 42/48 | €20,656 | €266,618 | +€245,962 | +1,191% |
| Financial debts | 43 | - | €204,000 | +€204,000 | |
| Credit institutions | 430/8 | - | €204,000 | +€204,000 | |
| Trade debts | 44 | €1,339 | €50,247 | +€48,908 | +3,653% |
| Suppliers | 440/4 | €1,339 | €50,247 | +€48,908 | +3,653% |
| Taxes, remuneration and social security | 45 | - | €12,371 | +€12,371 | |
| Taxes | 450/3 | - | €12,371 | +€12,371 | |
| Other amounts payable | 47/48 | €19,317 | €0 | -€19,317 | -100% |
| Accrued charges and deferred income | 492/3 | - | €747 | +€747 | |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,491 | €1,142 | -€22,349 | -95.1% |
| Other operating charges | 640/8 | €4,908 | €866 | -€4,042 | -82.4% |
| Gross operating margin | 9900 | €13,395 | €64,091 | +€50,696 | +378% |
| Operating profit (loss) | 9901 | -€15,004 | €62,084 | +€77,088 | |
| Financial income | 75/76B | €4,807 | €3,579 | -€1,228 | -25.5% |
| Recurring financial income | 75 | €4,807 | €3,579 | -€1,228 | -25.5% |
| Financial charges | 65/66B | €332 | €2,367 | +€2,035 | +613% |
| Recurring financial charges | 65 | €332 | €2,367 | +€2,035 | +613% |
| Profit (loss) for the period before taxes | 9903 | -€10,529 | €63,296 | +€73,825 | |
| Income taxes | 67/77 | €590 | €0 | -€590 | -100% |
| Profit (loss) for the period | 9904 | -€11,119 | €63,296 | +€74,415 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,119 | €63,296 | +€74,415 |
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 29 October 2026 via checked.be.