Renaissance: 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.
Renaissance
Largest movements
- Cash +€2.6m
up €2.6m (+2134.8%), from €120,951 to €2.7m
mainly Contributions, distributions and other (+€3.3m) and Depreciation (+€119,458)
- Current investments +€286,177
up €286,177 (+35.2%), from €812,084 to €1.1m
- Tangible fixed assets +€280,462
up €280,462 (+15.9%), from €1.8m to €2.0m
of which Land and buildings: +€696,535
- Contributions +€3.3m
up €3.3m (+283.6%), from €1.2m to €4.5m
- Debts after one year -€106,164
down €106,164 (-28.7%), from €370,092 to €263,928
- Gross operating margin +€66,708
up €66,708 (+3.8%), from €1.8m to €1.8m
- Staff costs +€34,951
up €34,951 (+2.4%), from €1.5m to €1.5m
- Financial income +€23,519
up €23,519 (+28.9%), from €81,475 to €104,994
- Financial charges +€21,125
up €21,125 (+150.9%), from €14,004 to €35,130
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 | €2,893,890 | €6,005,618 | +€3.1m | +107.5% |
| Fixed assets | 21/28 | €1,794,760 | €2,045,221 | +€250,462 | +14.0% |
| Tangible fixed assets | 22/27 | €1,764,394 | €2,044,856 | +€280,462 | +15.9% |
| Land and buildings | 22 | €1,234,775 | €1,931,310 | +€696,535 | +56.4% |
| Plant, machinery and equipment | 23 | €74,222 | €89,653 | +€15,431 | +20.8% |
| Furniture and vehicles | 24 | €22,331 | €23,893 | +€1,562 | +7.0% |
| Assets under construction and advance payments | 27 | €433,066 | - | -€433,066 | |
| Financial fixed assets | 28 | €30,366 | €366 | -€30,000 | -98.8% |
| Current assets | 29/58 | €1,099,130 | €3,960,397 | +€2.9m | +260.3% |
| Stocks and contracts in progress | 3 | €1,687 | €1,687 | = | 0.0% |
| Stocks | 30/36 | €1,687 | €1,687 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €157,710 | €151,356 | -€6,355 | -4.0% |
| Trade receivables | 40 | €86,668 | €77,168 | -€9,500 | -11.0% |
| Other amounts receivable | 41 | €71,043 | €74,188 | +€3,146 | +4.4% |
| Current investments | 50/53 | €812,084 | €1,098,261 | +€286,177 | +35.2% |
| Cash at bank and in hand | 54/58 | €120,951 | €2,702,967 | +€2.6m | +2134.8% |
| Deferred charges and accrued income | 490/1 | €6,698 | €6,127 | -€571 | -8.5% |
| Total equity and liabilities | 10/49 | €2,893,890 | €6,005,618 | +€3.1m | +107.5% |
| Equity | 10/15 | €1,981,474 | €5,237,678 | +€3.3m | +164.3% |
| Contributions | 10/11 | €1,166,920 | €4,476,603 | +€3.3m | +283.6% |
| Capital | 10 | €1,166,920 | €4,476,603 | +€3.3m | +283.6% |
| Profit (loss) carried forward | 14 | €20,945 | -€37,071 | -€58,016 | |
| Investment grants | 15 | €793,610 | €798,146 | +€4,536 | +0.6% |
| Amounts payable | 17/49 | €912,415 | €767,941 | -€144,474 | -15.8% |
| Amounts payable after more than one year | 17 | €370,092 | €263,928 | -€106,164 | -28.7% |
| Financial debts | 170/4 | €370,092 | €263,928 | -€106,164 | -28.7% |
| Amounts payable within one year | 42/48 | €540,672 | €501,869 | -€38,803 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €26,746 | €27,232 | +€486 | +1.8% |
| Trade debts | 44 | €87,727 | €33,883 | -€53,844 | -61.4% |
| Suppliers | 440/4 | €87,727 | €33,883 | -€53,844 | -61.4% |
| Taxes, remuneration and social security | 45 | €200,504 | €236,032 | +€35,527 | +17.7% |
| Taxes | 450/3 | €35,437 | €44,818 | +€9,382 | +26.5% |
| Remuneration and social security | 454/9 | €165,068 | €191,213 | +€26,146 | +15.8% |
| Accrued charges and deferred income | 492/3 | €1,652 | €2,144 | +€492 | +29.8% |
| Remuneration, social security and pensions | 62 | €1,482,088 | €1,517,039 | +€34,951 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,834 | €119,458 | +€8,624 | +7.8% |
| Other operating charges | 640/8 | €303,389 | €315,986 | +€12,598 | +4.2% |
| Gross operating margin | 9900 | €1,757,896 | €1,824,603 | +€66,708 | +3.8% |
| Operating profit (loss) | 9901 | -€138,415 | -€127,880 | +€10,535 | +7.6% |
| Financial income | 75/76B | €81,475 | €104,994 | +€23,519 | +28.9% |
| Recurring financial income | 75 | €81,475 | €104,994 | +€23,519 | +28.9% |
| Financial charges | 65/66B | €14,004 | €35,130 | +€21,125 | +150.9% |
| Recurring financial charges | 65 | €14,004 | €35,130 | +€21,125 | +150.9% |
| Profit (loss) for the period before taxes | 9903 | -€70,944 | -€58,016 | +€12,928 | +18.2% |
| Profit (loss) for the period | 9904 | -€70,944 | -€58,016 | +€12,928 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,944 | -€58,016 | +€12,928 | +18.2% |
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 9 October 2026 via checked.be.