MOULIN 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.
MOULIN RENARD
Largest movements
- Current investments -€245,388
down €245,388 (-100%), from €245,388 to €0
- Cash +€176,306
up €176,306 (+135%), from €130,941 to €307,247
mainly Current investments (+€245,388) and Net result for the year (+€31,592)
- Tangible fixed assets -€19,005
down €19,005 (-23.9%), from €79,574 to €60,569
of which Furniture and vehicles: -€10,392
- Stocks and contracts +€11,133
up €11,133 (+8.1%), from €138,021 to €149,154
- Debts after one year -€111,000
down €111,000 (-49.3%), from €225,000 to €114,000
- Reserves +€31,500
up €31,500 (+10.5%), from €300,700 to €332,200
- Gross operating margin -€33,374
down €33,374 (-16.4%), from €203,042 to €169,668
- Taxes -€7,973
down €7,973 (-44.7%), from €17,856 to €9,883
- Depreciation -€3,472
down €3,472 (-15.0%), from €23,126 to €19,655
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 | €617,691 | €536,710 | -€80,981 | -13.1% |
| Fixed assets | 21/28 | €80,459 | €60,804 | -€19,655 | -24.4% |
| Intangible fixed assets | 21 | €885 | €235 | -€650 | -73.5% |
| Tangible fixed assets | 22/27 | €79,574 | €60,569 | -€19,005 | -23.9% |
| Land and buildings | 22 | €45,981 | €40,253 | -€5,728 | -12.5% |
| Plant, machinery and equipment | 23 | €5,171 | €2,286 | -€2,885 | -55.8% |
| Furniture and vehicles | 24 | €28,422 | €18,030 | -€10,392 | -36.6% |
| Current assets | 29/58 | €537,232 | €475,905 | -€61,327 | -11.4% |
| Stocks and contracts in progress | 3 | €138,021 | €149,154 | +€11,133 | +8.1% |
| Stocks | 30/36 | €138,021 | €149,154 | +€11,133 | +8.1% |
| Amounts receivable within one year | 40/41 | €13,467 | €7,818 | -€5,649 | -41.9% |
| Trade receivables | 40 | €2,950 | €5,214 | +€2,264 | +76.8% |
| Other amounts receivable | 41 | €10,517 | €2,604 | -€7,913 | -75.2% |
| Current investments | 50/53 | €245,388 | €0 | -€245,388 | -100% |
| Cash at bank and in hand | 54/58 | €130,941 | €307,247 | +€176,306 | +135% |
| Deferred charges and accrued income | 490/1 | €9,415 | €11,686 | +€2,271 | +24.1% |
| Total equity and liabilities | 10/49 | €617,691 | €536,710 | -€80,981 | -13.1% |
| Equity | 10/15 | €337,413 | €369,005 | +€31,592 | +9.4% |
| Contributions | 10/11 | €19,503 | €19,503 | = | 0.0% |
| Reserves | 13 | €300,700 | €332,200 | +€31,500 | +10.5% |
| Distributable reserves | 133 | €300,700 | €332,200 | +€31,500 | +10.5% |
| Profit (loss) carried forward | 14 | €17,210 | €17,302 | +€92 | +0.5% |
| Amounts payable | 17/49 | €280,278 | €167,704 | -€112,574 | -40.2% |
| Amounts payable after more than one year | 17 | €225,000 | €114,000 | -€111,000 | -49.3% |
| Other amounts payable | 178/9 | €225,000 | €114,000 | -€111,000 | -49.3% |
| Amounts payable within one year | 42/48 | €52,278 | €50,704 | -€1,574 | -3.0% |
| Trade debts | 44 | €22,725 | €18,063 | -€4,662 | -20.5% |
| Suppliers | 440/4 | €22,725 | €18,063 | -€4,662 | -20.5% |
| Taxes, remuneration and social security | 45 | €28,102 | €32,207 | +€4,105 | +14.6% |
| Taxes | 450/3 | €9,136 | €4,659 | -€4,476 | -49.0% |
| Remuneration and social security | 454/9 | €18,967 | €27,548 | +€8,581 | +45.2% |
| Other amounts payable | 47/48 | €1,451 | €434 | -€1,017 | -70.1% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €108,261 | €108,289 | +€28 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,126 | €19,655 | -€3,472 | -15.0% |
| Other operating charges | 640/8 | €2,612 | €2,793 | +€182 | +7.0% |
| Gross operating margin | 9900 | €203,042 | €169,668 | -€33,374 | -16.4% |
| Operating profit (loss) | 9901 | €69,044 | €38,932 | -€30,112 | -43.6% |
| Financial income | 75/76B | €5,289 | €5,933 | +€643 | +12.2% |
| Recurring financial income | 75 | €5,289 | €5,933 | +€643 | +12.2% |
| Financial charges | 65/66B | €3,172 | €3,389 | +€217 | +6.8% |
| Recurring financial charges | 65 | €3,172 | €3,389 | +€217 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €71,161 | €41,475 | -€29,686 | -41.7% |
| Income taxes | 67/77 | €17,856 | €9,883 | -€7,973 | -44.7% |
| Profit (loss) for the period | 9904 | €53,305 | €31,592 | -€21,712 | -40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,305 | €31,592 | -€21,712 | -40.7% |
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.