LE TRI RENARD: 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.
What changed
LE TRI RENARD
NACE 55.203, Holiday cottages, homes and apartments
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€510
2024 · -€49,881+€49,371
Equity
€328,733
2024 · €329,242-€510
Cash
€5,532
2024 · €8,523-€2,991
Balance sheet total
€1.0m
2024 · €1.1m-€67,914
Largest movements
Assets
- Tangible fixed assets -€83,959
down €83,959 (-8.5%), from €989,645 to €905,687
of which Land and buildings: -€83,370
- Receivables within one year +€18,386
up €18,386 (+26.6%), from €69,022 to €87,408
of which Other amounts receivable: +€20,440
Equity and liabilities
- Debts after one year -€66,926
down €66,926 (-13.0%), from €514,489 to €447,563
Income statement
- Gross operating margin +€51,884
up €51,884 (+45.0%), from €115,201 to €167,085
- Turnover +€26,537
up €26,537 (+8.3%), from €321,170 to €347,708
- Purchases and services -€21,700
down €21,700 (-10.2%), from €213,137 to €191,437
- Financial charges -€7,728
down €7,728 (-24.3%), from €31,855 to €24,127
- Staff costs +€7,355
up €7,355 (+26.5%), from €27,743 to €35,098
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.
Result 2024
-€49,881
Gross operating margin
+€51,884
Staff costs
-€7,355
Depreciation
-€2,737
Other operating charges
-€548
Financial income
+€489
Financial charges
+€7,728
Taxes
-€91
Result 2025
-€510
raises the resultlowers the result
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.
From operations
+€73,919
Investment
-€14,678
Financing
-€62,232
Cash 2024
€8,523
From operations (derived)
+€73,919
Net result for the year
-€510
Depreciation
+€98,637
Receivables within one year
-€18,386
Deferred charges and accrued income
-€649
Trade debts
+€789
Tax, wage and social debts
+€2,395
Advances received
-€2,250
Other debts
-€7,348
Accrued charges and deferred income
+€1,242
Investment (derived)
-€14,678
Investment in fixed assets (net)
-€14,678
Financing
-€62,232
Debts after one year
-€66,926
Current portion of long-term debt
+€4,694
Cash 2025
€5,532
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,069,843 | €1,001,929 | -€67,914 | -6.3% |
| Fixed assets | 21/28 | €989,645 | €905,687 | -€83,959 | -8.5% |
| Tangible fixed assets | 22/27 | €989,645 | €905,687 | -€83,959 | -8.5% |
| Land and buildings | 22 | €853,696 | €770,326 | -€83,370 | -9.8% |
| Furniture and vehicles | 24 | €3,687 | €3,221 | -€466 | -12.6% |
| Other tangible fixed assets | 26 | €132,262 | €132,140 | -€123 | -0.1% |
| Current assets | 29/58 | €80,198 | €96,243 | +€16,045 | +20.0% |
| Amounts receivable within one year | 40/41 | €69,022 | €87,408 | +€18,386 | +26.6% |
| Trade receivables | 40 | €36,604 | €34,550 | -€2,054 | -5.6% |
| Other amounts receivable | 41 | €32,418 | €52,858 | +€20,440 | +63.0% |
| Cash at bank and in hand | 54/58 | €8,523 | €5,532 | -€2,991 | -35.1% |
| Deferred charges and accrued income | 490/1 | €2,653 | €3,303 | +€649 | +24.5% |
| Total equity and liabilities | 10/49 | €1,069,843 | €1,001,929 | -€67,914 | -6.3% |
| Equity | 10/15 | €329,242 | €328,733 | -€510 | -0.2% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Revaluation surpluses | 12 | €622,142 | €622,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€492,900 | -€493,410 | -€510 | -0.1% |
| Amounts payable | 17/49 | €740,601 | €673,197 | -€67,404 | -9.1% |
| Amounts payable after more than one year | 17 | €514,489 | €447,563 | -€66,926 | -13.0% |
| Financial debts | 170/4 | €514,489 | €447,563 | -€66,926 | -13.0% |
| Amounts payable within one year | 42/48 | €225,788 | €224,068 | -€1,720 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €67,368 | €72,062 | +€4,694 | +7.0% |
| Trade debts | 44 | €37,268 | €38,057 | +€789 | +2.1% |
| Suppliers | 440/4 | €37,268 | €38,057 | +€789 | +2.1% |
| Advances received on contracts in progress | 46 | €2,250 | €0 | -€2,250 | -100% |
| Taxes, remuneration and social security | 45 | €5,314 | €7,708 | +€2,395 | +45.1% |
| Taxes | 450/3 | €0 | €1,205 | +€1,205 | |
| Remuneration and social security | 454/9 | €5,314 | €6,503 | +€1,190 | +22.4% |
| Other amounts payable | 47/48 | €113,589 | €106,241 | -€7,348 | -6.5% |
| Accrued charges and deferred income | 492/3 | €324 | €1,566 | +€1,242 | +383% |
| Turnover | 70 | €321,170 | €347,708 | +€26,537 | +8.3% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €213,137 | €191,437 | -€21,700 | -10.2% |
| Remuneration, social security and pensions | 62 | €27,743 | €35,098 | +€7,355 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,900 | €98,637 | +€2,737 | +2.9% |
| Other operating charges | 640/8 | €11,331 | €11,879 | +€548 | +4.8% |
| Gross operating margin | 9900 | €115,201 | €167,085 | +€51,884 | +45.0% |
| Operating profit (loss) | 9901 | -€19,773 | €21,472 | +€41,245 | |
| Financial income | 75/76B | €1,747 | €2,236 | +€489 | +28.0% |
| Recurring financial income | 75 | €1,747 | €2,236 | +€489 | +28.0% |
| Financial charges | 65/66B | €31,855 | €24,127 | -€7,728 | -24.3% |
| Recurring financial charges | 65 | €31,855 | €24,127 | -€7,728 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | -€49,881 | -€419 | +€49,462 | +99.2% |
| Income taxes | 67/77 | - | €91 | +€91 | |
| Profit (loss) for the period | 9904 | -€49,881 | -€510 | +€49,371 | +99.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,881 | -€510 | +€49,371 | +99.0% |
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 30 October 2026 via checked.be.