LOU-RENZO: 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.
LOU-RENZO
Largest movements
- Receivables within one year +€8,746
up €8,746 (+87.8%), from €9,958 to €18,704
of which Other amounts receivable: +€5,157
- Cash -€8,536
down €8,536 (-26.1%), from €32,665 to €24,130
mainly Investment in fixed assets (net) (-€16,347) and Receivables within one year (-€8,746)
- Intangible fixed assets -€6,000
down €6,000 (-100%), from €6,000 to €0
- Tangible fixed assets +€5,442
up €5,442 (+29.7%), from €18,315 to €23,756
of which Furniture and vehicles: +€9,602
- Stocks and contracts -€3,510
down €3,510 (-21.9%), from €16,020 to €12,510
- Profit (loss) carried forward -€8,234
down €8,234 (-182%), from -€4,520 to -€12,755
- Trade debts +€3,142
up €3,142 (+16.7%), from €18,807 to €21,949
- Short-term financial debts +€1,727
up €1,727 (+130%), from €1,331 to €3,058
- Current portion of long-term debt +€1,385
up €1,385 (+18.5%), from €7,476 to €8,861
- Staff costs +€31,336
up €31,336 (+24.2%), from €129,467 to €160,803
- Gross operating margin -€19,786
down €19,786 (-10.2%), from €194,060 to €174,274
- Depreciation +€4,765
up €4,765 (+39.3%), from €12,140 to €16,905
- Financial charges -€4,604
down €4,604 (-57.1%), from €8,058 to €3,454
of which Financial charges: -€4,604
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 | €83,454 | €82,725 | -€729 | -0.9% |
| Fixed assets | 21/28 | €24,811 | €24,252 | -€558 | -2.3% |
| Intangible fixed assets | 21 | €6,000 | €0 | -€6,000 | -100% |
| Tangible fixed assets | 22/27 | €18,315 | €23,756 | +€5,442 | +29.7% |
| Furniture and vehicles | 24 | €4,096 | €13,698 | +€9,602 | +234% |
| Other tangible fixed assets | 26 | €14,219 | €10,059 | -€4,160 | -29.3% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €58,643 | €58,473 | -€171 | -0.3% |
| Stocks and contracts in progress | 3 | €16,020 | €12,510 | -€3,510 | -21.9% |
| Stocks | 30/36 | €16,020 | €12,510 | -€3,510 | -21.9% |
| Amounts receivable within one year | 40/41 | €9,958 | €18,704 | +€8,746 | +87.8% |
| Trade receivables | 40 | €2,454 | €6,043 | +€3,589 | +146% |
| Other amounts receivable | 41 | €7,504 | €12,661 | +€5,157 | +68.7% |
| Cash at bank and in hand | 54/58 | €32,665 | €24,130 | -€8,536 | -26.1% |
| Deferred charges and accrued income | 490/1 | €0 | €3,129 | +€3,129 | |
| Total equity and liabilities | 10/49 | €83,454 | €82,725 | -€729 | -0.9% |
| Equity | 10/15 | €15,931 | €7,697 | -€8,234 | -51.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,520 | -€12,755 | -€8,234 | -182% |
| Amounts payable | 17/49 | €67,523 | €75,028 | +€7,505 | +11.1% |
| Amounts payable after more than one year | 17 | €0 | €686 | +€686 | |
| Financial debts | 170/4 | €0 | €686 | +€686 | |
| Amounts payable within one year | 42/48 | €67,523 | €74,224 | +€6,702 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €7,476 | €8,861 | +€1,385 | +18.5% |
| Financial debts | 43 | €1,331 | €3,058 | +€1,727 | +130% |
| Credit institutions | 430/8 | €1,331 | €3,058 | +€1,727 | +130% |
| Trade debts | 44 | €18,807 | €21,949 | +€3,142 | +16.7% |
| Suppliers | 440/4 | €18,807 | €21,949 | +€3,142 | +16.7% |
| Taxes, remuneration and social security | 45 | €39,909 | €40,356 | +€447 | +1.1% |
| Taxes | 450/3 | €16,843 | €18,080 | +€1,237 | +7.3% |
| Remuneration and social security | 454/9 | €23,066 | €22,276 | -€790 | -3.4% |
| Accrued charges and deferred income | 492/3 | €0 | €118 | +€118 | |
| Remuneration, social security and pensions | 62 | €129,467 | €160,803 | +€31,336 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,140 | €16,905 | +€4,765 | +39.3% |
| Other operating charges | 640/8 | €1,217 | €2,489 | +€1,272 | +104% |
| Gross operating margin | 9900 | €194,060 | €174,274 | -€19,786 | -10.2% |
| Operating profit (loss) | 9901 | €51,236 | -€5,923 | -€57,159 | |
| Financial income | 75/76B | €446 | €1,486 | +€1,041 | +234% |
| Recurring financial income | 75 | €446 | €1,486 | +€1,041 | +234% |
| Financial charges | 65/66B | €8,058 | €3,454 | -€4,604 | -57.1% |
| Recurring financial charges | 65 | €8,058 | €3,454 | -€4,604 | -57.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €43,623 | -€7,891 | -€51,514 | |
| Income taxes | 67/77 | €390 | €343 | -€47 | -12.1% |
| Profit (loss) for the period | 9904 | €43,233 | -€8,234 | -€51,467 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,233 | -€8,234 | -€51,467 |
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 28 October 2026 via checked.be.