Les Renards: 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.
Les Renards
Largest movements
- Cash -€22,832
down €22,832 (-42.6%), from €53,571 to €30,739
mainly Net result for the year (-€64,048) and Investment in fixed assets (net) (-€23,079)
- Tangible fixed assets -€8,760
down €8,760 (-11.6%), from €75,496 to €66,736
of which Plant, machinery and equipment: -€5,985
- Deferred charges and accrued income +€2,324
up €2,324 (+100.4%), from €2,314 to €4,638
- Profit (loss) carried forward -€64,048
down €64,048, from €10,000 to -€54,048
- Trade debts +€42,872
up €42,872 (+61.1%), from €70,205 to €113,077
- Tax, wage and social debts +€20,294
up €20,294 (+25.4%), from €80,045 to €100,339
of which Remuneration and social security: +€20,372
- Accrued charges and deferred income -€11,122
down €11,122 (-98.0%), from €11,352 to €230
- Other debts -€7,689
no longer reported in 2025 (was €7,689)
- Staff costs +€129,879
up €129,879 (+33.3%), from €389,885 to €519,764
- Gross operating margin +€50,658
up €50,658 (+11.3%), from €447,638 to €498,296
- Depreciation -€10,843
down €10,843 (-25.4%), from €42,682 to €31,839
- Other operating charges +€6,778
up €6,778 (+347.8%), from €1,949 to €8,727
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 | €218,849 | €190,837 | -€28,012 | -12.8% |
| Fixed assets | 21/28 | €76,321 | €67,561 | -€8,760 | -11.5% |
| Tangible fixed assets | 22/27 | €75,496 | €66,736 | -€8,760 | -11.6% |
| Plant, machinery and equipment | 23 | €26,600 | €20,615 | -€5,985 | -22.5% |
| Furniture and vehicles | 24 | €338 | €34 | -€304 | -89.9% |
| Leasing and similar rights | 25 | €14,900 | €11,428 | -€3,472 | -23.3% |
| Other tangible fixed assets | 26 | €33,658 | €34,659 | +€1,001 | +3.0% |
| Financial fixed assets | 28 | €825 | €825 | = | 0.0% |
| Current assets | 29/58 | €142,528 | €123,276 | -€19,252 | -13.5% |
| Stocks and contracts in progress | 3 | €18,521 | €18,236 | -€285 | -1.5% |
| Stocks | 30/36 | €18,521 | €18,236 | -€285 | -1.5% |
| Amounts receivable within one year | 40/41 | €68,122 | €69,663 | +€1,541 | +2.3% |
| Trade receivables | 40 | €47,449 | €52,878 | +€5,429 | +11.4% |
| Other amounts receivable | 41 | €20,673 | €16,785 | -€3,888 | -18.8% |
| Cash at bank and in hand | 54/58 | €53,571 | €30,739 | -€22,832 | -42.6% |
| Deferred charges and accrued income | 490/1 | €2,314 | €4,638 | +€2,324 | +100.4% |
| Total equity and liabilities | 10/49 | €218,849 | €190,837 | -€28,012 | -12.8% |
| Equity | 10/15 | €28,600 | -€35,448 | -€64,048 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,000 | -€54,048 | -€64,048 | |
| Amounts payable | 17/49 | €190,249 | €226,285 | +€36,036 | +18.9% |
| Amounts payable after more than one year | 17 | €12,640 | €8,750 | -€3,890 | -30.8% |
| Financial debts | 170/4 | €12,640 | €8,750 | -€3,890 | -30.8% |
| Amounts payable within one year | 42/48 | €166,257 | €217,305 | +€51,048 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €8,318 | €3,889 | -€4,429 | -53.2% |
| Trade debts | 44 | €70,205 | €113,077 | +€42,872 | +61.1% |
| Suppliers | 440/4 | €70,205 | €113,077 | +€42,872 | +61.1% |
| Taxes, remuneration and social security | 45 | €80,045 | €100,339 | +€20,294 | +25.4% |
| Taxes | 450/3 | €11,623 | €11,545 | -€78 | -0.7% |
| Remuneration and social security | 454/9 | €68,422 | €88,794 | +€20,372 | +29.8% |
| Other amounts payable | 47/48 | €7,689 | - | -€7,689 | |
| Accrued charges and deferred income | 492/3 | €11,352 | €230 | -€11,122 | -98.0% |
| Remuneration, social security and pensions | 62 | €389,885 | €519,764 | +€129,879 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,682 | €31,839 | -€10,843 | -25.4% |
| Other operating charges | 640/8 | €1,949 | €8,727 | +€6,778 | +347.8% |
| Gross operating margin | 9900 | €447,638 | €498,296 | +€50,658 | +11.3% |
| Operating profit (loss) | 9901 | €13,122 | -€62,034 | -€75,156 | |
| Financial income | 75/76B | €1,613 | €1,243 | -€370 | -22.9% |
| Recurring financial income | 75 | €1,613 | €1,243 | -€370 | -22.9% |
| Financial charges | 65/66B | €3,297 | €3,257 | -€40 | -1.2% |
| Recurring financial charges | 65 | €3,297 | €3,257 | -€40 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €11,438 | -€64,048 | -€75,486 | |
| Income taxes | 67/77 | €4,026 | - | -€4,026 | |
| Profit (loss) for the period | 9904 | €7,412 | -€64,048 | -€71,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,412 | -€64,048 | -€71,460 |
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.