Renaat: 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.
Renaat
Largest movements
- Cash -€10,135
down €10,135 (-38.3%), from €26,462 to €16,327
mainly Net result for the year (-€8,184) and Trade debts (-€5,841)
- Receivables within one year +€3,378
up €3,378 (+251.6%), from €1,343 to €4,720
- Stocks and contracts -€3,056
down €3,056 (-42.0%), from €7,270 to €4,214
- Formation expenses -€963
no longer reported in 2025 (was €963)
- Tangible fixed assets +€458
up €458 (+29.8%), from €1,538 to €1,996
of which Other tangible fixed assets: +€691
- Profit (loss) carried forward -€10,249
down €10,249, from €2,065 to -€8,184
- Trade debts -€5,841
down €5,841 (-29.6%), from €19,752 to €13,910
- Tax, wage and social debts +€2,494
up €2,494 (+40.3%), from €6,189 to €8,683
of which Remuneration and social security: +€2,156
- Reserves +€2,065
new in 2025: €2,065
- Other debts +€1,635
up €1,635 (+119.1%), from €1,373 to €3,008
- Staff costs +€43,914
up €43,914 (+1013.1%), from €4,335 to €48,249
- Gross operating margin +€37,838
up €37,838 (+481.5%), from €7,859 to €45,697
- Financial charges +€2,036
up €2,036 (+1395.1%), from €146 to €2,182
- Depreciation +€1,409
up €1,409 (+477.0%), from €295 to €1,704
- Other operating charges +€1,325
up €1,325 (+315.4%), from €420 to €1,746
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,379 | €29,483 | -€9,896 | -25.1% |
| Formation expenses | 20 | €963 | - | -€963 | |
| Fixed assets | 21/28 | €1,538 | €1,996 | +€458 | +29.8% |
| Tangible fixed assets | 22/27 | €1,538 | €1,996 | +€458 | +29.8% |
| Plant, machinery and equipment | 23 | - | €434 | +€434 | |
| Furniture and vehicles | 24 | €1,538 | €872 | -€667 | -43.3% |
| Other tangible fixed assets | 26 | - | €691 | +€691 | |
| Current assets | 29/58 | €36,878 | €27,487 | -€9,392 | -25.5% |
| Stocks and contracts in progress | 3 | €7,270 | €4,214 | -€3,056 | -42.0% |
| Stocks | 30/36 | €7,270 | €4,214 | -€3,056 | -42.0% |
| Amounts receivable within one year | 40/41 | €1,343 | €4,720 | +€3,378 | +251.6% |
| Trade receivables | 40 | €1,343 | €4,720 | +€3,378 | +251.6% |
| Cash at bank and in hand | 54/58 | €26,462 | €16,327 | -€10,135 | -38.3% |
| Deferred charges and accrued income | 490/1 | €1,803 | €2,225 | +€422 | +23.4% |
| Total equity and liabilities | 10/49 | €39,379 | €29,483 | -€9,896 | -25.1% |
| Equity | 10/15 | €12,065 | €3,882 | -€8,184 | -67.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €2,065 | +€2,065 | |
| Distributable reserves | 133 | - | €2,065 | +€2,065 | |
| Profit (loss) carried forward | 14 | €2,065 | -€8,184 | -€10,249 | |
| Amounts payable | 17/49 | €27,314 | €25,601 | -€1,712 | -6.3% |
| Amounts payable within one year | 42/48 | €27,314 | €25,601 | -€1,712 | -6.3% |
| Trade debts | 44 | €19,752 | €13,910 | -€5,841 | -29.6% |
| Suppliers | 440/4 | €19,752 | €13,910 | -€5,841 | -29.6% |
| Taxes, remuneration and social security | 45 | €6,189 | €8,683 | +€2,494 | +40.3% |
| Taxes | 450/3 | €4,105 | €4,443 | +€338 | +8.2% |
| Remuneration and social security | 454/9 | €2,084 | €4,240 | +€2,156 | +103.4% |
| Other amounts payable | 47/48 | €1,373 | €3,008 | +€1,635 | +119.1% |
| Remuneration, social security and pensions | 62 | €4,335 | €48,249 | +€43,914 | +1013.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €295 | €1,704 | +€1,409 | +477.0% |
| Other operating charges | 640/8 | €420 | €1,746 | +€1,325 | +315.4% |
| Gross operating margin | 9900 | €7,859 | €45,697 | +€37,838 | +481.5% |
| Operating profit (loss) | 9901 | €2,809 | -€6,001 | -€8,810 | |
| Financial charges | 65/66B | €146 | €2,182 | +€2,036 | +1395.1% |
| Recurring financial charges | 65 | €146 | €2,182 | +€2,036 | +1395.1% |
| Profit (loss) for the period before taxes | 9903 | €2,663 | -€8,184 | -€10,846 | |
| Income taxes | 67/77 | €597 | - | -€597 | |
| Profit (loss) for the period | 9904 | €2,065 | -€8,184 | -€10,249 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,065 | -€8,184 | -€10,249 |
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 11 October 2026 via checked.be.