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
- Financial fixed assets +€950,000
new in 2025: €950,000
- Cash -€64,864
down €64,864 (-37.0%), from €175,078 to €110,214
mainly Investment in fixed assets (net) (-€1.0m) and Contributions, distributions and other (-€117,203)
- Short-term financial debts +€380,000
new in 2025: €380,000
- Debts after one year +€333,610
up €333,610 (+76.2%), from €437,943 to €771,554
- Other debts +€150,858
up €150,858 (+135.4%), from €111,383 to €262,241
- Current portion of long-term debt +€55,678
up €55,678 (+190.3%), from €29,259 to €84,936
- Tax, wage and social debts -€26,463
down €26,463 (-58.4%), from €45,346 to €18,884
of which Remuneration and social security: -€13,999
- Gross operating margin +€22,972
up €22,972 (+6.7%), from €345,046 to €368,018
- Financial income -€18,818
down €18,818 (-96.2%), from €19,564 to €746
of which Non-recurring financial income: -€19,004
- Depreciation +€5,895
up €5,895 (+12.7%), from €46,283 to €52,178
- Financial charges +€4,318
up €4,318 (+22.8%), from €18,920 to €23,238
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 | €667,550 | €1,565,500 | +€897,950 | +134.5% |
| Fixed assets | 21/28 | €485,282 | €1,448,270 | +€962,988 | +198.4% |
| Tangible fixed assets | 22/27 | €485,282 | €498,270 | +€12,988 | +2.7% |
| Land and buildings | 22 | €391,372 | €362,138 | -€29,234 | -7.5% |
| Plant, machinery and equipment | 23 | €7,031 | €8,676 | +€1,645 | +23.4% |
| Furniture and vehicles | 24 | €8,446 | €39,183 | +€30,737 | +363.9% |
| Other tangible fixed assets | 26 | €78,433 | €88,274 | +€9,841 | +12.5% |
| Financial fixed assets | 28 | - | €950,000 | +€950,000 | |
| Current assets | 29/58 | €182,269 | €117,230 | -€65,039 | -35.7% |
| Amounts receivable within one year | 40/41 | €5,541 | €4,136 | -€1,405 | -25.4% |
| Trade receivables | 40 | €3,274 | €2,747 | -€527 | -16.1% |
| Other amounts receivable | 41 | €2,267 | €1,389 | -€877 | -38.7% |
| Cash at bank and in hand | 54/58 | €175,078 | €110,214 | -€64,864 | -37.0% |
| Deferred charges and accrued income | 490/1 | €1,650 | €2,880 | +€1,230 | +74.6% |
| Total equity and liabilities | 10/49 | €667,550 | €1,565,500 | +€897,950 | +134.5% |
| Equity | 10/15 | €35,000 | €35,000 | = | 0.0% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable | 17/49 | €632,550 | €1,530,500 | +€897,950 | +142.0% |
| Amounts payable after more than one year | 17 | €437,943 | €771,554 | +€333,610 | +76.2% |
| Financial debts | 170/4 | €437,943 | €771,554 | +€333,610 | +76.2% |
| Amounts payable within one year | 42/48 | €190,920 | €752,860 | +€561,940 | +294.3% |
| Current portion of amounts payable after more than one year | 42 | €29,259 | €84,936 | +€55,678 | +190.3% |
| Financial debts | 43 | - | €380,000 | +€380,000 | |
| Credit institutions | 430/8 | - | €380,000 | +€380,000 | |
| Trade debts | 44 | €4,932 | €6,798 | +€1,866 | +37.8% |
| Suppliers | 440/4 | €4,932 | €6,798 | +€1,866 | +37.8% |
| Taxes, remuneration and social security | 45 | €45,346 | €18,884 | -€26,463 | -58.4% |
| Taxes | 450/3 | €30,044 | €17,580 | -€12,464 | -41.5% |
| Remuneration and social security | 454/9 | €15,302 | €1,303 | -€13,999 | -91.5% |
| Other amounts payable | 47/48 | €111,383 | €262,241 | +€150,858 | +135.4% |
| Accrued charges and deferred income | 492/3 | €3,687 | €6,087 | +€2,400 | +65.1% |
| Remuneration, social security and pensions | 62 | €131,735 | €134,057 | +€2,322 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,283 | €52,178 | +€5,895 | +12.7% |
| Other operating charges | 640/8 | €5,755 | €8,104 | +€2,348 | +40.8% |
| Gross operating margin | 9900 | €345,046 | €368,018 | +€22,972 | +6.7% |
| Operating profit (loss) | 9901 | €161,273 | €173,681 | +€12,407 | +7.7% |
| Financial income | 75/76B | €19,564 | €746 | -€18,818 | -96.2% |
| Recurring financial income | 75 | €560 | €746 | +€186 | +33.2% |
| Non-recurring financial income | 76B | €19,004 | - | -€19,004 | |
| Financial charges | 65/66B | €18,920 | €23,238 | +€4,318 | +22.8% |
| Recurring financial charges | 65 | €18,920 | €23,238 | +€4,318 | +22.8% |
| Profit (loss) for the period before taxes | 9903 | €161,917 | €151,189 | -€10,728 | -6.6% |
| Income taxes | 67/77 | €35,919 | €33,986 | -€1,934 | -5.4% |
| Profit (loss) for the period | 9904 | €125,998 | €117,203 | -€8,794 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €125,998 | €117,203 | -€8,794 | -7.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.