RANESA: 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.
What changed
RANESA
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€619,992
2024 · €604,878+€15,113
Equity
€664,771
2024 · €1.0m-€380,008
Cash
€110,107
2024 · €83,345+€26,762
Balance sheet total
€13.3m
2024 · €13.7m-€457,939
Largest movements
Assets
- Receivables within one year -€484,197
down €484,197 (-100.0%), from €484,197 to €0
Equity and liabilities
- Other debts -€427,499
down €427,499 (-11.5%), from €3.7m to €3.3m
- Reserves -€380,008
down €380,008 (-36.8%), from €1.0m to €652,371
of which Distributable reserves: -€380,008
Income statement
- Other operating charges -€43,227
down €43,227 (-96.8%), from €44,679 to €1,452
- Taxes +€18,770
up €18,770 (+9.4%), from €200,320 to €219,090
- Depreciation +€15,833
up €15,833 (+122.9%), from €12,879 to €28,712
- Gross operating margin +€13,698
up €13,698 (+1.3%), from €1.1m to €1.1m
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.
Result 2024
€604,878
Gross operating margin
+€13,698
Depreciation
-€15,833
Other operating charges
+€43,227
Financial income
+€29
Financial charges
-€7,238
Taxes
-€18,770
Result 2025
€619,992
Cash bridge derived
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.
From operations
+€864,183
Investment
-€30,223
Financing
-€807,198
Cash 2024
€83,345
From operations (derived)
+€864,183
Net result for the year
+€619,992
Depreciation
+€28,712
Receivables within one year
+€484,197
Deferred charges and accrued income
+€2,014
Trade debts
-€8,511
Tax, wage and social debts
+€63,554
Other debts
-€427,499
Accrued charges and deferred income
+€101,723
Investment (derived)
-€30,223
Investment in fixed assets (net)
-€30,223
Financing
-€807,198
Debts after one year
+€85,107
Current portion of long-term debt
+€107,696
Contributions, distributions and other
-€1.0m
Cash 2025
€110,107
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,731,748 | €13,273,809 | -€457,939 | -3.3% |
| Fixed assets | 21/28 | €13,159,979 | €13,161,490 | +€1,511 | 0.0% |
| Tangible fixed assets | 22/27 | €978,063 | €979,574 | +€1,511 | +0.2% |
| Land and buildings | 22 | €911,925 | €917,820 | +€5,895 | +0.6% |
| Plant, machinery and equipment | 23 | - | €5,467 | +€5,467 | |
| Furniture and vehicles | 24 | €66,138 | €56,288 | -€9,851 | -14.9% |
| Financial fixed assets | 28 | €12,181,916 | €12,181,916 | = | 0.0% |
| Current assets | 29/58 | €571,768 | €112,318 | -€459,450 | -80.4% |
| Amounts receivable within one year | 40/41 | €484,197 | €0 | -€484,197 | -100.0% |
| Trade receivables | 40 | €484,197 | €0 | -€484,197 | -100.0% |
| Cash at bank and in hand | 54/58 | €83,345 | €110,107 | +€26,762 | +32.1% |
| Deferred charges and accrued income | 490/1 | €4,226 | €2,211 | -€2,014 | -47.7% |
| Total equity and liabilities | 10/49 | €13,731,748 | €13,273,809 | -€457,939 | -3.3% |
| Equity | 10/15 | €1,044,780 | €664,771 | -€380,008 | -36.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,032,380 | €652,371 | -€380,008 | -36.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,030,520 | €650,511 | -€380,008 | -36.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,686,968 | €12,609,037 | -€77,931 | -0.6% |
| Amounts payable after more than one year | 17 | €8,124,238 | €8,209,344 | +€85,107 | +1.0% |
| Financial debts | 170/4 | €8,124,238 | €8,209,344 | +€85,107 | +1.0% |
| Amounts payable within one year | 42/48 | €4,537,186 | €4,272,426 | -€264,761 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €613,625 | €721,321 | +€107,696 | +17.6% |
| Trade debts | 44 | €18,233 | €9,721 | -€8,511 | -46.7% |
| Suppliers | 440/4 | €18,233 | €9,721 | -€8,511 | -46.7% |
| Taxes, remuneration and social security | 45 | €180,707 | €244,261 | +€63,554 | +35.2% |
| Taxes | 450/3 | €179,534 | €244,261 | +€64,727 | +36.1% |
| Remuneration and social security | 454/9 | €1,173 | €0 | -€1,173 | -100.0% |
| Other amounts payable | 47/48 | €3,724,622 | €3,297,123 | -€427,499 | -11.5% |
| Accrued charges and deferred income | 492/3 | €25,544 | €127,268 | +€101,723 | +398.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,879 | €28,712 | +€15,833 | +122.9% |
| Other operating charges | 640/8 | €44,679 | €1,452 | -€43,227 | -96.8% |
| Gross operating margin | 9900 | €1,084,070 | €1,097,768 | +€13,698 | +1.3% |
| Operating profit (loss) | 9901 | €1,026,512 | €1,067,604 | +€41,092 | +4.0% |
| Financial income | 75/76B | €11 | €40 | +€29 | +274.9% |
| Recurring financial income | 75 | €11 | €40 | +€29 | +274.9% |
| Financial charges | 65/66B | €221,324 | €228,562 | +€7,238 | +3.3% |
| Recurring financial charges | 65 | €221,324 | €228,562 | +€7,238 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €805,198 | €839,082 | +€33,884 | +4.2% |
| Income taxes | 67/77 | €200,320 | €219,090 | +€18,770 | +9.4% |
| Profit (loss) for the period | 9904 | €604,878 | €619,992 | +€15,113 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €604,878 | €619,992 | +€15,113 | +2.5% |
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 9 October 2026 via checked.be.