LS-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.
LS-RENARD
Largest movements
- Tangible fixed assets -€42,484
down €42,484 (-30.9%), from €137,301 to €94,817
of which Leasing and similar rights: -€31,986
- Receivables within one year +€11,697
up €11,697 (+68.1%), from €17,174 to €28,872
of which Trade receivables: +€8,375
- Cash -€5,491
down €5,491 (-55.8%), from €9,845 to €4,354
mainly Debts after one year (-€32,415) and Net result for the year (-€17,176)
- Debts after one year -€32,415
down €32,415 (-38.1%), from €85,127 to €52,712
- Profit (loss) carried forward -€17,176
down €17,176 (-73.8%), from €23,274 to €6,098
- Trade debts +€7,984
up €7,984 (+131%), from €6,096 to €14,079
- Other debts +€4,397
up €4,397 (+44.0%), from €10,000 to €14,397
- Gross operating margin -€14,997
down €14,997 (-31.7%), from €47,263 to €32,266
- Financial charges -€1,777
down €1,777 (-27.1%), from €6,563 to €4,785
- Depreciation -€580
down €580 (-1.3%), from €43,201 to €42,621
- Taxes -€544
down €544 (-66.5%), from €817 to €274
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 | €165,245 | €129,178 | -€36,067 | -21.8% |
| Formation expenses | 20 | €137 | €0 | -€137 | -100% |
| Fixed assets | 21/28 | €137,301 | €94,817 | -€42,484 | -30.9% |
| Tangible fixed assets | 22/27 | €137,301 | €94,817 | -€42,484 | -30.9% |
| Furniture and vehicles | 24 | €25,568 | €15,070 | -€10,498 | -41.1% |
| Leasing and similar rights | 25 | €111,733 | €79,747 | -€31,986 | -28.6% |
| Current assets | 29/58 | €27,808 | €34,361 | +€6,553 | +23.6% |
| Amounts receivable within one year | 40/41 | €17,174 | €28,872 | +€11,697 | +68.1% |
| Trade receivables | 40 | €15,846 | €24,222 | +€8,375 | +52.9% |
| Other amounts receivable | 41 | €1,328 | €4,650 | +€3,322 | +250% |
| Cash at bank and in hand | 54/58 | €9,845 | €4,354 | -€5,491 | -55.8% |
| Deferred charges and accrued income | 490/1 | €789 | €1,135 | +€346 | +43.9% |
| Total equity and liabilities | 10/49 | €165,245 | €129,178 | -€36,067 | -21.8% |
| Equity | 10/15 | €28,274 | €11,098 | -€17,176 | -60.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,274 | €6,098 | -€17,176 | -73.8% |
| Amounts payable | 17/49 | €136,971 | €118,080 | -€18,891 | -13.8% |
| Amounts payable after more than one year | 17 | €85,127 | €52,712 | -€32,415 | -38.1% |
| Financial debts | 170/4 | €85,127 | €52,712 | -€32,415 | -38.1% |
| Amounts payable within one year | 42/48 | €51,844 | €65,368 | +€13,524 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €30,963 | €32,415 | +€1,452 | +4.7% |
| Trade debts | 44 | €6,096 | €14,079 | +€7,984 | +131% |
| Suppliers | 440/4 | €6,096 | €14,079 | +€7,984 | +131% |
| Taxes, remuneration and social security | 45 | €4,785 | €4,476 | -€309 | -6.5% |
| Taxes | 450/3 | €4,785 | €4,476 | -€309 | -6.5% |
| Other amounts payable | 47/48 | €10,000 | €14,397 | +€4,397 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,201 | €42,621 | -€580 | -1.3% |
| Other operating charges | 640/8 | €2,086 | €1,774 | -€312 | -15.0% |
| Gross operating margin | 9900 | €47,263 | €32,266 | -€14,997 | -31.7% |
| Operating profit (loss) | 9901 | €1,976 | -€12,128 | -€14,104 | |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €6,563 | €4,785 | -€1,777 | -27.1% |
| Recurring financial charges | 65 | €6,563 | €4,785 | -€1,777 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,586 | -€16,902 | -€12,316 | -269% |
| Income taxes | 67/77 | €817 | €274 | -€544 | -66.5% |
| Profit (loss) for the period | 9904 | -€5,404 | -€17,176 | -€11,772 | -218% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,404 | -€17,176 | -€11,772 | -218% |
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 24 October 2026 via checked.be.