Jacques Renard: 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.
Jacques Renard
Largest movements
- Deferred charges and accrued income -€46,211
down €46,211 (-97.0%), from €47,640 to €1,429
- Tangible fixed assets +€13,693
up €13,693 (+877.7%), from €1,560 to €15,253
of which Other tangible fixed assets: +€12,193
- Receivables within one year +€7,141
up €7,141 (+134.6%), from €5,305 to €12,446
of which Other amounts receivable: +€9,860
- Stocks and contracts +€1,829
up €1,829 (+47.8%), from €3,824 to €5,653
- Cash -€1,075
down €1,075 (-19.6%), from €5,482 to €4,408
mainly Debts after one year (-€15,688) and Investment in fixed assets (net) (-€15,437)
- Debts after one year -€15,688
down €15,688 (-67.2%), from €23,359 to €7,671
of which Other amounts payable: -€23,359
- Trade debts -€10,110
down €10,110 (-76.2%), from €13,272 to €3,162
- Profit (loss) carried forward -€4,139
down €4,139 (-486.9%), from -€850 to -€4,988
- Current portion of long-term debt +€3,980
new in 2025: €3,980
- Other debts +€1,406
new in 2025: €1,406
- Gross operating margin -€39,080
down €39,080, from €35,192 to -€3,888
- Financial income +€4,999
up €4,999 (+555455.6%), from €1 to €5,000
- Taxes -€4,297
down €4,297 (-96.1%), from €4,473 to €176
- Depreciation +€1,182
up €1,182 (+210.0%), from €563 to €1,745
- Financial charges +€763
up €763 (+36.9%), from €2,066 to €2,829
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 | €82,812 | €58,189 | -€24,623 | -29.7% |
| Fixed assets | 21/28 | €20,560 | €34,253 | +€13,693 | +66.6% |
| Tangible fixed assets | 22/27 | €1,560 | €15,253 | +€13,693 | +877.7% |
| Plant, machinery and equipment | 23 | €559 | €388 | -€171 | -30.6% |
| Furniture and vehicles | 24 | €1,001 | €2,672 | +€1,670 | +166.8% |
| Other tangible fixed assets | 26 | - | €12,193 | +€12,193 | |
| Financial fixed assets | 28 | €19,000 | €19,000 | = | 0.0% |
| Current assets | 29/58 | €62,252 | €23,936 | -€38,316 | -61.5% |
| Stocks and contracts in progress | 3 | €3,824 | €5,653 | +€1,829 | +47.8% |
| Stocks | 30/36 | €3,824 | €5,653 | +€1,829 | +47.8% |
| Amounts receivable within one year | 40/41 | €5,305 | €12,446 | +€7,141 | +134.6% |
| Trade receivables | 40 | €5,305 | €2,586 | -€2,719 | -51.3% |
| Other amounts receivable | 41 | - | €9,860 | +€9,860 | |
| Cash at bank and in hand | 54/58 | €5,482 | €4,408 | -€1,075 | -19.6% |
| Deferred charges and accrued income | 490/1 | €47,640 | €1,429 | -€46,211 | -97.0% |
| Total equity and liabilities | 10/49 | €82,812 | €58,189 | -€24,623 | -29.7% |
| Equity | 10/15 | €39,823 | €35,684 | -€4,139 | -10.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €35,673 | €35,673 | = | 0.0% |
| Distributable reserves | 133 | €35,673 | €35,673 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€850 | -€4,988 | -€4,139 | -486.9% |
| Amounts payable | 17/49 | €42,989 | €22,504 | -€20,485 | -47.7% |
| Amounts payable after more than one year | 17 | €23,359 | €7,671 | -€15,688 | -67.2% |
| Financial debts | 170/4 | - | €7,671 | +€7,671 | |
| Other amounts payable | 178/9 | €23,359 | - | -€23,359 | |
| Amounts payable within one year | 42/48 | €19,630 | €14,833 | -€4,797 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | - | €3,980 | +€3,980 | |
| Trade debts | 44 | €13,272 | €3,162 | -€10,110 | -76.2% |
| Suppliers | 440/4 | €13,272 | €3,162 | -€10,110 | -76.2% |
| Taxes, remuneration and social security | 45 | €6,358 | €6,285 | -€73 | -1.1% |
| Taxes | 450/3 | €6,358 | €6,285 | -€73 | -1.1% |
| Other amounts payable | 47/48 | - | €1,406 | +€1,406 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €563 | €1,745 | +€1,182 | +210.0% |
| Other operating charges | 640/8 | €487 | €500 | +€12 | +2.5% |
| Gross operating margin | 9900 | €35,192 | -€3,888 | -€39,080 | |
| Operating profit (loss) | 9901 | €34,141 | -€6,133 | -€40,274 | |
| Financial income | 75/76B | €1 | €5,000 | +€4,999 | +555455.6% |
| Recurring financial income | 75 | €1 | €5,000 | +€4,999 | +555455.6% |
| Financial charges | 65/66B | €2,066 | €2,829 | +€763 | +36.9% |
| Recurring financial charges | 65 | €2,066 | €2,829 | +€763 | +36.9% |
| Profit (loss) for the period before taxes | 9903 | €32,076 | -€3,962 | -€36,038 | |
| Income taxes | 67/77 | €4,473 | €176 | -€4,297 | -96.1% |
| Profit (loss) for the period | 9904 | €27,602 | -€4,139 | -€31,741 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,602 | -€4,139 | -€31,741 |
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 6 October 2026 via checked.be.