RAES RENATA: 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.
RAES RENATA
Largest movements
- Cash -€100,413
down €100,413 (-60.0%), from €167,469 to €67,056
mainly Net result for the year (-€85,139) and Debts after one year (-€40,014)
- Tangible fixed assets -€60,752
down €60,752 (-5.0%), from €1.2m to €1.1m
of which Land and buildings: -€54,482
- Receivables within one year +€15,571
up €15,571 (+116%), from €13,429 to €29,000
- Profit (loss) carried forward -€85,139
down €85,139, from €559 to -€84,581
- Debts after one year -€40,014
down €40,014 (-18.2%), from €219,536 to €179,522
- Gross operating margin -€298,494
down €298,494, from €282,860 to -€15,633
- Taxes -€58,578
down €58,578 (-99.3%), from €59,015 to €437
- Staff costs -€11,383
no longer reported in 2025 (was €11,383)
- Depreciation -€9,751
down €9,751 (-13.1%), from €74,177 to €64,426
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 | €1,390,093 | €1,244,047 | -€146,045 | -10.5% |
| Fixed assets | 21/28 | €1,207,759 | €1,147,007 | -€60,752 | -5.0% |
| Tangible fixed assets | 22/27 | €1,207,759 | €1,147,007 | -€60,752 | -5.0% |
| Land and buildings | 22 | €1,187,145 | €1,132,663 | -€54,482 | -4.6% |
| Plant, machinery and equipment | 23 | €1,082 | €1,959 | +€876 | +81.0% |
| Furniture and vehicles | 24 | €19,531 | €12,385 | -€7,146 | -36.6% |
| Current assets | 29/58 | €182,334 | €97,041 | -€85,293 | -46.8% |
| Amounts receivable within one year | 40/41 | €13,429 | €29,000 | +€15,571 | +116% |
| Other amounts receivable | 41 | €13,429 | €29,000 | +€15,571 | +116% |
| Cash at bank and in hand | 54/58 | €167,469 | €67,056 | -€100,413 | -60.0% |
| Deferred charges and accrued income | 490/1 | €1,436 | €984 | -€451 | -31.4% |
| Total equity and liabilities | 10/49 | €1,390,093 | €1,244,047 | -€146,045 | -10.5% |
| Equity | 10/15 | €1,028,460 | €943,321 | -€85,139 | -8.3% |
| Contributions | 10/11 | €372,105 | €372,105 | = | 0.0% |
| Reserves | 13 | €655,797 | €655,797 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €637,047 | €637,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | €559 | -€84,581 | -€85,139 | |
| Amounts payable | 17/49 | €361,632 | €300,726 | -€60,906 | -16.8% |
| Amounts payable after more than one year | 17 | €219,536 | €179,522 | -€40,014 | -18.2% |
| Financial debts | 170/4 | €219,536 | €179,522 | -€40,014 | -18.2% |
| Amounts payable within one year | 42/48 | €141,890 | €121,205 | -€20,685 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €43,088 | €43,338 | +€250 | +0.6% |
| Trade debts | 44 | €4,338 | €4,051 | -€287 | -6.6% |
| Suppliers | 440/4 | €4,338 | €4,051 | -€287 | -6.6% |
| Taxes, remuneration and social security | 45 | €12,398 | €46 | -€12,351 | -99.6% |
| Taxes | 450/3 | €12,398 | €46 | -€12,351 | -99.6% |
| Other amounts payable | 47/48 | €82,066 | €73,770 | -€8,297 | -10.1% |
| Accrued charges and deferred income | 492/3 | €207 | - | -€207 | |
| Non-recurring operating income | 76A | €280,744 | - | -€280,744 | |
| Remuneration, social security and pensions | 62 | €11,383 | - | -€11,383 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,177 | €64,426 | -€9,751 | -13.1% |
| Other operating charges | 640/8 | €3,172 | €1,778 | -€1,394 | -43.9% |
| Non-recurring operating charges | 66A | €9,155 | €2,682 | -€6,473 | -70.7% |
| Gross operating margin | 9900 | €282,860 | -€15,633 | -€298,494 | |
| Operating profit (loss) | 9901 | €184,973 | -€84,519 | -€269,492 | |
| Financial income | 75/76B | €157 | €1,302 | +€1,145 | +731% |
| Recurring financial income | 75 | €157 | €1,302 | +€1,145 | +731% |
| Financial charges | 65/66B | €2,140 | €1,486 | -€654 | -30.6% |
| Recurring financial charges | 65 | €2,140 | €1,486 | -€654 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €182,990 | -€84,702 | -€267,693 | |
| Income taxes | 67/77 | €59,015 | €437 | -€58,578 | -99.3% |
| Profit (loss) for the period | 9904 | €123,975 | -€85,139 | -€209,115 | |
| Profit (loss) for the period to be appropriated | 9905 | €123,975 | -€85,139 | -€209,115 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.