RENAI: what changed
Two fiscal 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.
RENAI
Largest movements
- Receivables after one year -€110,000
down €110,000 (-100.0%), from €110,000 to €0
- Receivables within one year -€65,166
down €65,166 (-32.3%), from €201,721 to €136,554
of which Trade receivables: -€58,153
- Current investments +€26,672
up €26,672 (+39.1%), from €68,241 to €94,913
- Cash +€24,522
up €24,522 (+75.1%), from €32,640 to €57,162
mainly Net result for the year (+€168,590) and Receivables after one year (+€110,000)
- Deferred charges and accrued income +€13,118
up €13,118 (+87.6%), from €14,973 to €28,091
- Other debts -€79,646
down €79,646 (-40.8%), from €195,000 to €115,354
- Profit (loss) carried forward -€31,410
down €31,410 (-11.4%), from €276,334 to €244,924
- Gross operating margin -€44,002
down €44,002 (-15.0%), from €293,776 to €249,773
- Staff costs -€32,053
down €32,053 (-59.7%), from €53,712 to €21,659
- Depreciation -€6,762
down €6,762 (-58.8%), from €11,507 to €4,745
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 | €532,183 | €413,266 | -€118,917 | -22.3% |
| Fixed assets | 21/28 | €104,608 | €96,545 | -€8,063 | -7.7% |
| Tangible fixed assets | 22/27 | €56,565 | €48,502 | -€8,063 | -14.3% |
| Land and buildings | 22 | €5,986 | €4,489 | -€1,497 | -25.0% |
| Furniture and vehicles | 24 | €11,456 | €4,890 | -€6,566 | -57.3% |
| Other tangible fixed assets | 26 | €39,123 | €39,123 | = | 0.0% |
| Financial fixed assets | 28 | €48,042 | €48,042 | = | 0.0% |
| Current assets | 29/58 | €427,575 | €316,721 | -€110,854 | -25.9% |
| Amounts receivable after more than one year | 29 | €110,000 | €0 | -€110,000 | -100.0% |
| Other amounts receivable | 291 | €110,000 | €0 | -€110,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €201,721 | €136,554 | -€65,166 | -32.3% |
| Trade receivables | 40 | €192,831 | €134,679 | -€58,153 | -30.2% |
| Other amounts receivable | 41 | €8,889 | €1,876 | -€7,014 | -78.9% |
| Current investments | 50/53 | €68,241 | €94,913 | +€26,672 | +39.1% |
| Cash at bank and in hand | 54/58 | €32,640 | €57,162 | +€24,522 | +75.1% |
| Deferred charges and accrued income | 490/1 | €14,973 | €28,091 | +€13,118 | +87.6% |
| Total equity and liabilities | 10/49 | €532,183 | €413,266 | -€118,917 | -22.3% |
| Equity | 10/15 | €296,794 | €265,384 | -€31,410 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €276,334 | €244,924 | -€31,410 | -11.4% |
| Amounts payable | 17/49 | €235,389 | €147,882 | -€87,507 | -37.2% |
| Amounts payable within one year | 42/48 | €233,230 | €147,882 | -€85,348 | -36.6% |
| Trade debts | 44 | €9,869 | €6,581 | -€3,288 | -33.3% |
| Suppliers | 440/4 | €9,869 | €6,581 | -€3,288 | -33.3% |
| Taxes, remuneration and social security | 45 | €28,361 | €25,947 | -€2,415 | -8.5% |
| Taxes | 450/3 | €19,259 | €25,947 | +€6,687 | +34.7% |
| Remuneration and social security | 454/9 | €9,102 | €0 | -€9,102 | -100.0% |
| Other amounts payable | 47/48 | €195,000 | €115,354 | -€79,646 | -40.8% |
| Accrued charges and deferred income | 492/3 | €2,159 | €0 | -€2,159 | -100.0% |
| Non-recurring operating income | 76A | - | €1,182 | +€1,182 | |
| Remuneration, social security and pensions | 62 | €53,712 | €21,659 | -€32,053 | -59.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,507 | €4,745 | -€6,762 | -58.8% |
| Other operating charges | 640/8 | €2,978 | €2,216 | -€763 | -25.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €293,776 | €249,773 | -€44,002 | -15.0% |
| Operating profit (loss) | 9901 | €225,579 | €221,154 | -€4,425 | -2.0% |
| Financial income | 75/76B | €4,504 | €2,308 | -€2,196 | -48.8% |
| Recurring financial income | 75 | €4,504 | €2,308 | -€2,196 | -48.8% |
| Financial charges | 65/66B | €201 | €110 | -€90 | -45.0% |
| Recurring financial charges | 65 | €201 | €110 | -€90 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €229,883 | €223,351 | -€6,531 | -2.8% |
| Income taxes | 67/77 | €56,124 | €54,762 | -€1,363 | -2.4% |
| Profit (loss) for the period | 9904 | €173,758 | €168,590 | -€5,169 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €173,758 | €168,590 | -€5,169 | -3.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.