REN - TESS: 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.
REN - TESS
Largest movements
- Stocks and contracts -€83,551
down €83,551 (-13.2%), from €633,411 to €549,860
- Receivables within one year +€24,386
up €24,386 (+237%), from €10,293 to €34,679
of which Trade receivables: +€19,568
- Trade debts -€50,383
down €50,383 (-54.5%), from €92,391 to €42,008
- Profit (loss) carried forward -€24,295
down €24,295 (-128%), from -€18,938 to -€43,234
- Gross operating margin -€28,182
down €28,182 (-19.0%), from €148,396 to €120,214
- Staff costs +€5,966
up €5,966 (+4.1%), from €146,368 to €152,334
- Depreciation -€3,005
down €3,005 (-26.5%), from €11,331 to €8,326
- Taxes -€2,970
down €2,970 (-91.8%), from €3,235 to €265
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €810,971 | €739,854 | -€71,117 | -8.8% |
| Fixed assets | 21/28 | €10,584 | €4,980 | -€5,604 | -52.9% |
| Tangible fixed assets | 22/27 | €10,584 | €4,980 | -€5,604 | -52.9% |
| Plant, machinery and equipment | 23 | €2,550 | €1,460 | -€1,091 | -42.8% |
| Furniture and vehicles | 24 | €8,034 | €3,520 | -€4,514 | -56.2% |
| Current assets | 29/58 | €800,386 | €734,873 | -€65,513 | -8.2% |
| Stocks and contracts in progress | 3 | €633,411 | €549,860 | -€83,551 | -13.2% |
| Stocks | 30/36 | €633,411 | €549,860 | -€83,551 | -13.2% |
| Amounts receivable within one year | 40/41 | €10,293 | €34,679 | +€24,386 | +237% |
| Trade receivables | 40 | €6,883 | €26,451 | +€19,568 | +284% |
| Other amounts receivable | 41 | €3,410 | €8,228 | +€4,817 | +141% |
| Cash at bank and in hand | 54/58 | €151,556 | €145,075 | -€6,481 | -4.3% |
| Deferred charges and accrued income | 490/1 | €5,127 | €5,260 | +€133 | +2.6% |
| Total equity and liabilities | 10/49 | €810,971 | €739,854 | -€71,117 | -8.8% |
| Equity | 10/15 | €681,805 | €657,510 | -€24,295 | -3.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €682,152 | €682,152 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,000 | €21,000 | = | 0.0% |
| Distributable reserves | 133 | €661,152 | €661,152 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,938 | -€43,234 | -€24,295 | -128% |
| Amounts payable | 17/49 | €129,165 | €82,343 | -€46,822 | -36.2% |
| Amounts payable within one year | 42/48 | €129,165 | €82,343 | -€46,822 | -36.2% |
| Trade debts | 44 | €92,391 | €42,008 | -€50,383 | -54.5% |
| Suppliers | 440/4 | €92,391 | €42,008 | -€50,383 | -54.5% |
| Taxes, remuneration and social security | 45 | €36,775 | €40,336 | +€3,561 | +9.7% |
| Taxes | 450/3 | €11,591 | €14,292 | +€2,701 | +23.3% |
| Remuneration and social security | 454/9 | €25,184 | €26,044 | +€860 | +3.4% |
| Remuneration, social security and pensions | 62 | €146,368 | €152,334 | +€5,966 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,331 | €8,326 | -€3,005 | -26.5% |
| Gross operating margin | 9900 | €148,396 | €120,214 | -€28,182 | -19.0% |
| Operating profit (loss) | 9901 | -€9,303 | -€40,446 | -€31,143 | -335% |
| Financial income | 75/76B | €17,639 | €16,618 | -€1,021 | -5.8% |
| Recurring financial income | 75 | €17,639 | €16,618 | -€1,021 | -5.8% |
| Financial charges | 65/66B | €98 | €202 | +€104 | +106% |
| Recurring financial charges | 65 | €98 | €202 | +€104 | +106% |
| Profit (loss) for the period before taxes | 9903 | €8,238 | -€24,030 | -€32,268 | |
| Income taxes | 67/77 | €3,235 | €265 | -€2,970 | -91.8% |
| Profit (loss) for the period | 9904 | €5,002 | -€24,295 | -€29,298 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,002 | -€24,295 | -€29,298 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.