R EN CO: 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.
R EN CO
Largest movements
- Tangible fixed assets -€30,962
down €30,962 (-26.2%), from €118,387 to €87,425
- Profit (loss) carried forward +€74,711
up €74,711 (+49.5%), from -€151,053 to -€76,342
- Other debts -€61,454
down €61,454 (-53.4%), from €115,098 to €53,645
- Debts after one year -€24,769
down €24,769 (-46.7%), from €52,985 to €28,217
- Trade debts -€15,181
down €15,181 (-24.5%), from €61,844 to €46,664
- Accrued charges and deferred income -€10,163
down €10,163 (-99.7%), from €10,193 to €30
- Depreciation -€6,232
down €6,232 (-16.8%), from €37,193 to €30,962
- Gross operating margin +€4,179
up €4,179 (+2.9%), from €143,753 to €147,932
- Staff costs -€3,832
down €3,832 (-12.2%), from €31,413 to €27,581
- Other operating charges +€3,171
up €3,171 (+51.8%), from €6,126 to €9,297
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 | €197,421 | €164,522 | -€32,899 | -16.7% |
| Fixed assets | 21/28 | €118,387 | €87,425 | -€30,962 | -26.2% |
| Tangible fixed assets | 22/27 | €118,387 | €87,425 | -€30,962 | -26.2% |
| Land and buildings | 22 | €50,673 | €41,563 | -€9,110 | -18.0% |
| Plant, machinery and equipment | 23 | €24,794 | €15,868 | -€8,926 | -36.0% |
| Leasing and similar rights | 25 | €42,921 | €29,995 | -€12,926 | -30.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €79,033 | €77,096 | -€1,937 | -2.5% |
| Stocks and contracts in progress | 3 | €2,572 | €2,922 | +€350 | +13.6% |
| Stocks | 30/36 | €2,572 | €2,922 | +€350 | +13.6% |
| Amounts receivable within one year | 40/41 | €52,697 | €51,285 | -€1,413 | -2.7% |
| Trade receivables | 40 | €42,809 | €41,853 | -€956 | -2.2% |
| Other amounts receivable | 41 | €9,889 | €9,432 | -€456 | -4.6% |
| Cash at bank and in hand | 54/58 | €23,764 | €22,890 | -€874 | -3.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €197,421 | €164,522 | -€32,899 | -16.7% |
| Equity | 10/15 | -€72,755 | €1,957 | +€74,711 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €59,707 | €59,707 | = | 0.0% |
| Distributable reserves | 133 | €59,707 | €59,707 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€151,053 | -€76,342 | +€74,711 | +49.5% |
| Amounts payable | 17/49 | €270,175 | €162,565 | -€107,611 | -39.8% |
| Amounts payable after more than one year | 17 | €52,985 | €28,217 | -€24,769 | -46.7% |
| Financial debts | 170/4 | €52,985 | €28,217 | -€24,769 | -46.7% |
| Amounts payable within one year | 42/48 | €206,997 | €134,318 | -€72,679 | -35.1% |
| Current portion of amounts payable after more than one year | 42 | €16,653 | €16,403 | -€250 | -1.5% |
| Trade debts | 44 | €61,844 | €46,664 | -€15,181 | -24.5% |
| Suppliers | 440/4 | €61,844 | €46,664 | -€15,181 | -24.5% |
| Taxes, remuneration and social security | 45 | €13,402 | €17,607 | +€4,205 | +31.4% |
| Taxes | 450/3 | €8,218 | €14,074 | +€5,856 | +71.3% |
| Remuneration and social security | 454/9 | €5,184 | €3,533 | -€1,651 | -31.9% |
| Other amounts payable | 47/48 | €115,098 | €53,645 | -€61,454 | -53.4% |
| Accrued charges and deferred income | 492/3 | €10,193 | €30 | -€10,163 | -99.7% |
| Remuneration, social security and pensions | 62 | €31,413 | €27,581 | -€3,832 | -12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,193 | €30,962 | -€6,232 | -16.8% |
| Other operating charges | 640/8 | €6,126 | €9,297 | +€3,171 | +51.8% |
| Gross operating margin | 9900 | €143,753 | €147,932 | +€4,179 | +2.9% |
| Operating profit (loss) | 9901 | €69,021 | €80,093 | +€11,072 | +16.0% |
| Financial income | 75/76B | €743 | €524 | -€220 | -29.5% |
| Recurring financial income | 75 | €743 | €524 | -€220 | -29.5% |
| Financial charges | 65/66B | €6,989 | €5,695 | -€1,295 | -18.5% |
| Recurring financial charges | 65 | €6,989 | €5,695 | -€1,295 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €62,775 | €74,921 | +€12,147 | +19.4% |
| Income taxes | 67/77 | €229 | €210 | -€19 | -8.2% |
| Profit (loss) for the period | 9904 | €62,546 | €74,711 | +€12,166 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,546 | €74,711 | +€12,166 | +19.5% |
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 19 October 2026 via checked.be.