RENAISSANCE: 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.
RENAISSANCE
Largest movements
- Cash -€45,492
down €45,492 (-39.4%), from €115,322 to €69,830
mainly Net result for the year (-€64,778) and Trade debts (-€7,989)
- Tangible fixed assets -€35,632
down €35,632 (-23.8%), from €149,510 to €113,878
of which Land and buildings: -€27,086
- Receivables within one year +€5,789
up €5,789 (+7.4%), from €78,125 to €83,914
of which Trade receivables: +€4,880
- Profit (loss) carried forward -€64,778
down €64,778 (-45.9%), from -€141,038 to -€205,816
- Trade debts -€7,989
down €7,989 (-31.3%), from €25,552 to €17,562
- Gross operating margin -€76,643
down €76,643 (-29.1%), from €263,015 to €186,371
- Staff costs -€25,660
down €25,660 (-11.5%), from €222,188 to €196,528
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 | €390,979 | €314,136 | -€76,844 | -19.7% |
| Fixed assets | 21/28 | €150,010 | €114,378 | -€35,632 | -23.8% |
| Tangible fixed assets | 22/27 | €149,510 | €113,878 | -€35,632 | -23.8% |
| Land and buildings | 22 | €103,920 | €76,834 | -€27,086 | -26.1% |
| Plant, machinery and equipment | 23 | €27,965 | €24,734 | -€3,231 | -11.6% |
| Furniture and vehicles | 24 | €17,624 | €12,310 | -€5,315 | -30.2% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €240,970 | €199,758 | -€41,212 | -17.1% |
| Stocks and contracts in progress | 3 | €45,000 | €45,000 | = | 0.0% |
| Stocks | 30/36 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €78,125 | €83,914 | +€5,789 | +7.4% |
| Trade receivables | 40 | €65,625 | €70,505 | +€4,880 | +7.4% |
| Other amounts receivable | 41 | €12,500 | €13,409 | +€909 | +7.3% |
| Cash at bank and in hand | 54/58 | €115,322 | €69,830 | -€45,492 | -39.4% |
| Deferred charges and accrued income | 490/1 | €2,522 | €1,014 | -€1,509 | -59.8% |
| Total equity and liabilities | 10/49 | €390,979 | €314,136 | -€76,844 | -19.7% |
| Equity | 10/15 | €336,962 | €272,184 | -€64,778 | -19.2% |
| Contributions | 10/11 | €469,000 | €469,000 | = | 0.0% |
| Capital | 10 | €469,000 | €469,000 | = | 0.0% |
| Issued capital | 100 | €469,000 | €469,000 | = | 0.0% |
| Reserves | 13 | €9,000 | €9,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,000 | €9,000 | = | 0.0% |
| Legal reserve | 130 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,038 | -€205,816 | -€64,778 | -45.9% |
| Amounts payable | 17/49 | €54,018 | €41,952 | -€12,066 | -22.3% |
| Amounts payable within one year | 42/48 | €54,018 | €41,952 | -€12,066 | -22.3% |
| Trade debts | 44 | €25,552 | €17,562 | -€7,989 | -31.3% |
| Suppliers | 440/4 | €25,552 | €17,562 | -€7,989 | -31.3% |
| Taxes, remuneration and social security | 45 | €19,993 | €19,064 | -€929 | -4.6% |
| Taxes | 450/3 | €5,132 | €5,844 | +€712 | +13.9% |
| Remuneration and social security | 454/9 | €14,861 | €13,221 | -€1,641 | -11.0% |
| Other amounts payable | 47/48 | €8,473 | €5,325 | -€3,147 | -37.1% |
| Remuneration, social security and pensions | 62 | €222,188 | €196,528 | -€25,660 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,622 | €37,632 | +€9 | 0.0% |
| Other operating charges | 640/8 | €15,137 | €16,993 | +€1,856 | +12.3% |
| Gross operating margin | 9900 | €263,015 | €186,371 | -€76,643 | -29.1% |
| Operating profit (loss) | 9901 | -€11,932 | -€64,781 | -€52,848 | -442.9% |
| Financial income | 75/76B | €236 | €265 | +€30 | +12.7% |
| Recurring financial income | 75 | €236 | €265 | +€30 | +12.7% |
| Financial charges | 65/66B | €233 | €263 | +€30 | +12.9% |
| Recurring financial charges | 65 | €233 | €263 | +€30 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,930 | -€64,778 | -€52,848 | -443.0% |
| Income taxes | 67/77 | €436 | - | -€436 | |
| Profit (loss) for the period | 9904 | -€12,365 | -€64,778 | -€52,413 | -423.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,365 | -€64,778 | -€52,413 | -423.9% |
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 8 October 2026 via checked.be.