Rc RENO: 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.
Rc RENO
Largest movements
- Cash -€629,334
down €629,334 (-61.4%), from €1.0m to €395,004
mainly Trade debts (-€286,899) and Investment in fixed assets (net) (-€250,006)
- Receivables within one year +€161,756
up €161,756 (+8.1%), from €2.0m to €2.2m
of which Trade receivables: +€127,757
- Stocks and contracts +€146,870
up €146,870 (+51.5%), from €285,221 to €432,091
of which Contracts in progress: +€106,174
- Tangible fixed assets +€71,319
up €71,319 (+20.1%), from €355,638 to €426,956
of which Furniture and vehicles: +€94,404
- Trade debts -€286,899
down €286,899 (-25.3%), from €1.1m to €848,058
- Profit (loss) carried forward -€90,585
down €90,585 (-10.4%), from €868,989 to €778,404
- Debts after one year +€72,444
up €72,444 (+403%), from €17,964 to €90,408
- Gross operating margin -€199,607
down €199,607 (-5.9%), from €3.4m to €3.2m
- Provisions +€146,812
up €146,812 (+92.9%), from -€158,081 to -€11,269
- Other operating charges -€146,359
down €146,359 (-85.7%), from €170,774 to €24,415
- Taxes -€44,562
down €44,562 (-95.6%), from €46,603 to €2,041
- Depreciation +€37,775
up €37,775 (+26.9%), from €140,612 to €178,387
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 | €3,835,020 | €3,595,417 | -€239,603 | -6.2% |
| Fixed assets | 21/28 | €472,666 | €544,285 | +€71,619 | +15.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €355,638 | €426,956 | +€71,319 | +20.1% |
| Plant, machinery and equipment | 23 | €84,545 | €82,502 | -€2,043 | -2.4% |
| Furniture and vehicles | 24 | €51,811 | €146,215 | +€94,404 | +182% |
| Leasing and similar rights | 25 | €68,566 | €62,532 | -€6,033 | -8.8% |
| Other tangible fixed assets | 26 | €150,716 | €135,708 | -€15,008 | -10.0% |
| Financial fixed assets | 28 | €117,029 | €117,329 | +€300 | +0.3% |
| Current assets | 29/58 | €3,362,354 | €3,051,132 | -€311,222 | -9.3% |
| Stocks and contracts in progress | 3 | €285,221 | €432,091 | +€146,870 | +51.5% |
| Stocks | 30/36 | €160,038 | €200,734 | +€40,696 | +25.4% |
| Contracts in progress | 37 | €125,183 | €231,357 | +€106,174 | +84.8% |
| Amounts receivable within one year | 40/41 | €2,003,691 | €2,165,447 | +€161,756 | +8.1% |
| Trade receivables | 40 | €1,866,028 | €1,993,785 | +€127,757 | +6.8% |
| Other amounts receivable | 41 | €137,663 | €171,662 | +€33,999 | +24.7% |
| Cash at bank and in hand | 54/58 | €1,024,339 | €395,004 | -€629,334 | -61.4% |
| Deferred charges and accrued income | 490/1 | €49,103 | €58,589 | +€9,486 | +19.3% |
| Total equity and liabilities | 10/49 | €3,835,020 | €3,595,417 | -€239,603 | -6.2% |
| Equity | 10/15 | €2,215,263 | €2,124,678 | -€90,585 | -4.1% |
| Contributions | 10/11 | €196,000 | €196,000 | = | 0.0% |
| Capital | 10 | €196,000 | €196,000 | = | 0.0% |
| Issued capital | 100 | €196,000 | €196,000 | = | 0.0% |
| Reserves | 13 | €1,150,273 | €1,150,273 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,600 | €19,600 | = | 0.0% |
| Legal reserve | 130 | €19,600 | €19,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €1,123,173 | €1,123,173 | = | 0.0% |
| Profit (loss) carried forward | 14 | €868,989 | €778,404 | -€90,585 | -10.4% |
| Provisions and deferred taxes | 16 | €70,066 | €58,797 | -€11,269 | -16.1% |
| Provisions for liabilities and charges | 160/5 | €70,066 | €58,797 | -€11,269 | -16.1% |
| Other liabilities and charges | 164/5 | €70,066 | €58,797 | -€11,269 | -16.1% |
| Amounts payable | 17/49 | €1,549,692 | €1,411,943 | -€137,749 | -8.9% |
| Amounts payable after more than one year | 17 | €17,964 | €90,408 | +€72,444 | +403% |
| Financial debts | 170/4 | €17,964 | €90,408 | +€72,444 | +403% |
| Amounts payable within one year | 42/48 | €1,531,728 | €1,320,154 | -€211,574 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €57,369 | €64,441 | +€7,071 | +12.3% |
| Financial debts | 43 | €0 | €33,669 | +€33,669 | |
| Credit institutions | 430/8 | €0 | €33,669 | +€33,669 | |
| Trade debts | 44 | €1,134,957 | €848,058 | -€286,899 | -25.3% |
| Suppliers | 440/4 | €1,134,957 | €848,058 | -€286,899 | -25.3% |
| Taxes, remuneration and social security | 45 | €339,321 | €373,817 | +€34,496 | +10.2% |
| Taxes | 450/3 | €34,555 | €121,931 | +€87,376 | +253% |
| Remuneration and social security | 454/9 | €304,766 | €251,886 | -€52,880 | -17.4% |
| Other amounts payable | 47/48 | €80 | €169 | +€89 | +111% |
| Accrued charges and deferred income | 492/3 | - | €1,381 | +€1,381 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €3,065,454 | €3,041,915 | -€23,539 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,612 | €178,387 | +€37,775 | +26.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€158,081 | -€11,269 | +€146,812 | +92.9% |
| Other operating charges | 640/8 | €170,774 | €24,415 | -€146,359 | -85.7% |
| Gross operating margin | 9900 | €3,358,826 | €3,159,220 | -€199,607 | -5.9% |
| Operating profit (loss) | 9901 | €140,067 | -€74,229 | -€214,296 | |
| Financial income | 75/76B | €10,848 | €9,941 | -€907 | -8.4% |
| Recurring financial income | 75 | €10,848 | €9,941 | -€907 | -8.4% |
| Financial charges | 65/66B | €29,043 | €24,256 | -€4,787 | -16.5% |
| Recurring financial charges | 65 | €29,043 | €24,256 | -€4,787 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €121,872 | -€88,544 | -€210,416 | |
| Income taxes | 67/77 | €46,603 | €2,041 | -€44,562 | -95.6% |
| Profit (loss) for the period | 9904 | €75,269 | -€90,585 | -€165,854 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €75,269 | -€90,585 | -€165,854 |
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 16 October 2026 via checked.be.