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 -€15,199
down €15,199 (-92.3%), from €16,468 to €1,269
mainly Net result for the year (-€28,796) and Investment in fixed assets (net) (-€7,114)
- Tangible fixed assets -€6,784
down €6,784 (-6.8%), from €100,083 to €93,299
of which Land and buildings: -€7,584
- Receivables within one year +€2,139
up €2,139 (+233.1%), from €918 to €3,056
of which Other amounts receivable: +€2,465
- Financial fixed assets -€1,500
down €1,500 (-63.8%), from €2,351 to €851
- Profit (loss) carried forward -€28,796
down €28,796 (-111.2%), from -€25,902 to -€54,698
- Other debts +€6,980
up €6,980 (+13.8%), from €50,451 to €57,431
- Short-term financial debts +€1,271
new in 2025: €1,271
- Gross operating margin -€34,059
down €34,059, from €23,475 to -€10,583
- Depreciation +€1,615
up €1,615 (+11.7%), from €13,783 to €15,398
- Other operating charges -€748
down €748 (-21.0%), from €3,561 to €2,813
- Financial income -€518
down €518 (-78.8%), from €657 to €139
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 | €121,090 | €99,332 | -€21,758 | -18.0% |
| Fixed assets | 21/28 | €102,434 | €94,150 | -€8,284 | -8.1% |
| Tangible fixed assets | 22/27 | €100,083 | €93,299 | -€6,784 | -6.8% |
| Land and buildings | 22 | €85,709 | €78,124 | -€7,584 | -8.8% |
| Plant, machinery and equipment | 23 | €5,314 | €7,112 | +€1,798 | +33.8% |
| Furniture and vehicles | 24 | €9,060 | €8,063 | -€997 | -11.0% |
| Financial fixed assets | 28 | €2,351 | €851 | -€1,500 | -63.8% |
| Current assets | 29/58 | €18,656 | €5,182 | -€13,474 | -72.2% |
| Amounts receivable within one year | 40/41 | €918 | €3,056 | +€2,139 | +233.1% |
| Trade receivables | 40 | €327 | €0 | -€327 | -100.0% |
| Other amounts receivable | 41 | €591 | €3,056 | +€2,465 | +417.3% |
| Cash at bank and in hand | 54/58 | €16,468 | €1,269 | -€15,199 | -92.3% |
| Deferred charges and accrued income | 490/1 | €1,271 | €857 | -€414 | -32.6% |
| Total equity and liabilities | 10/49 | €121,090 | €99,332 | -€21,758 | -18.0% |
| Equity | 10/15 | €68,795 | €39,999 | -€28,796 | -41.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €32,697 | €32,697 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €26,497 | €26,497 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,902 | -€54,698 | -€28,796 | -111.2% |
| Amounts payable | 17/49 | €52,295 | €59,333 | +€7,038 | +13.5% |
| Amounts payable within one year | 42/48 | €52,295 | €59,333 | +€7,038 | +13.5% |
| Financial debts | 43 | - | €1,271 | +€1,271 | |
| Credit institutions | 430/8 | - | €1,271 | +€1,271 | |
| Trade debts | 44 | €839 | €567 | -€272 | -32.4% |
| Suppliers | 440/4 | €839 | €567 | -€272 | -32.4% |
| Taxes, remuneration and social security | 45 | €1,004 | €64 | -€940 | -93.7% |
| Taxes | 450/3 | €1,004 | €64 | -€940 | -93.7% |
| Other amounts payable | 47/48 | €50,451 | €57,431 | +€6,980 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,783 | €15,398 | +€1,615 | +11.7% |
| Other operating charges | 640/8 | €3,561 | €2,813 | -€748 | -21.0% |
| Gross operating margin | 9900 | €23,475 | -€10,583 | -€34,059 | |
| Operating profit (loss) | 9901 | €6,132 | -€28,794 | -€34,926 | |
| Financial income | 75/76B | €657 | €139 | -€518 | -78.8% |
| Recurring financial income | 75 | €657 | €139 | -€518 | -78.8% |
| Financial charges | 65/66B | €242 | €141 | -€101 | -41.7% |
| Recurring financial charges | 65 | €242 | €141 | -€101 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €6,548 | -€28,796 | -€35,343 | |
| Profit (loss) for the period | 9904 | €6,548 | -€28,796 | -€35,343 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,548 | -€28,796 | -€35,343 |
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 6 October 2026 via checked.be.