RENAMOR: 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.
RENAMOR
Largest movements
- Cash +€96,502
up €96,502 (+115.7%), from €83,396 to €179,898
mainly Net result for the year (+€88,704) and Tax, wage and social debts (+€6,162)
- Reserves +€88,704
up €88,704 (+103.9%), from €85,380 to €174,084
of which Distributable reserves: +€46,604
- Tax, wage and social debts +€6,162
up €6,162 (+27.6%), from €22,301 to €28,463
of which Remuneration and social security: +€4,250
- Gross operating margin +€5,807
up €5,807 (+5.2%), from €112,652 to €118,459
- Taxes +€1,498
up €1,498 (+6.2%), from €24,174 to €25,672
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 | €109,392 | €204,316 | +€94,925 | +86.8% |
| Fixed assets | 21/28 | €2,549 | €1,976 | -€573 | -22.5% |
| Tangible fixed assets | 22/27 | €2,549 | €1,976 | -€573 | -22.5% |
| Plant, machinery and equipment | 23 | €2,549 | €1,976 | -€573 | -22.5% |
| Current assets | 29/58 | €106,843 | €202,340 | +€95,497 | +89.4% |
| Amounts receivable within one year | 40/41 | €23,447 | €22,442 | -€1,005 | -4.3% |
| Trade receivables | 40 | €20,573 | €21,094 | +€521 | +2.5% |
| Other amounts receivable | 41 | €2,874 | €1,348 | -€1,526 | -53.1% |
| Cash at bank and in hand | 54/58 | €83,396 | €179,898 | +€96,502 | +115.7% |
| Total equity and liabilities | 10/49 | €109,392 | €204,316 | +€94,925 | +86.8% |
| Equity | 10/15 | €86,380 | €175,084 | +€88,704 | +102.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €85,380 | €174,084 | +€88,704 | +103.9% |
| Tax-exempt reserves | 132 | €42,100 | €84,200 | +€42,100 | +100.0% |
| Distributable reserves | 133 | €43,280 | €89,884 | +€46,604 | +107.7% |
| Amounts payable | 17/49 | €23,011 | €29,232 | +€6,221 | +27.0% |
| Amounts payable within one year | 42/48 | €23,011 | €29,232 | +€6,221 | +27.0% |
| Trade debts | 44 | €710 | €769 | +€59 | +8.3% |
| Suppliers | 440/4 | €710 | €769 | +€59 | +8.3% |
| Taxes, remuneration and social security | 45 | €22,301 | €28,463 | +€6,162 | +27.6% |
| Taxes | 450/3 | €22,301 | €24,213 | +€1,912 | +8.6% |
| Remuneration and social security | 454/9 | - | €4,250 | +€4,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €315 | €573 | +€258 | +81.9% |
| Other operating charges | 640/8 | €513 | €429 | -€83 | -16.2% |
| Gross operating margin | 9900 | €112,652 | €118,459 | +€5,807 | +5.2% |
| Operating profit (loss) | 9901 | €111,825 | €117,457 | +€5,632 | +5.0% |
| Financial charges | 65/66B | €2,270 | €3,081 | +€811 | +35.7% |
| Recurring financial charges | 65 | €2,270 | €3,081 | +€811 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €109,554 | €114,376 | +€4,821 | +4.4% |
| Income taxes | 67/77 | €24,174 | €25,672 | +€1,498 | +6.2% |
| Profit (loss) for the period | 9904 | €85,380 | €88,704 | +€3,323 | +3.9% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €42,100 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,280 | €46,604 | +€3,323 | +7.7% |
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 12 October 2026 via checked.be.