RENAND: 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.
RENAND
Largest movements
- Tangible fixed assets +€584,636
up €584,636 (+404.9%), from €144,407 to €729,044
of which Plant, machinery and equipment: +€338,315
- Receivables within one year +€68,932
up €68,932 (+228.5%), from €30,169 to €99,101
of which Other amounts receivable: +€54,771
- Formation expenses +€30,866
up €30,866 (+3138.3%), from €984 to €31,850
- Cash +€28,983
new in 2025: €28,983
mainly Debts after one year (+€585,905) and Current portion of long-term debt (+€91,629)
- Stocks and contracts +€16,564
new in 2025: €16,564
- Debts after one year +€585,905
new in 2025: €585,905
- Current portion of long-term debt +€91,629
new in 2025: €91,629
- Other debts +€48,510
new in 2025: €48,510
- Tax, wage and social debts +€31,664
new in 2025: €31,664
of which Remuneration and social security: +€24,691
- Trade debts -€31,636
down €31,636 (-25.4%), from €124,446 to €92,810
- Gross operating margin +€159,693
up €159,693, from -€9,321 to €150,372
- Staff costs +€101,774
new in 2025: €101,774
- Depreciation +€22,014
up €22,014 (+10284.4%), from €214 to €22,228
- Financial charges +€11,261
up €11,261 (+2701.8%), from €417 to €11,678
- Taxes +€3,700
up €3,700 (+740.0%), from €500 to €4,200
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 | €175,560 | €911,391 | +€735,831 | +419.1% |
| Formation expenses | 20 | €984 | €31,850 | +€30,866 | +3138.3% |
| Fixed assets | 21/28 | €144,407 | €729,295 | +€584,887 | +405.0% |
| Tangible fixed assets | 22/27 | €144,407 | €729,044 | +€584,636 | +404.9% |
| Plant, machinery and equipment | 23 | - | €338,315 | +€338,315 | |
| Furniture and vehicles | 24 | - | €55,757 | +€55,757 | |
| Other tangible fixed assets | 26 | - | €334,972 | +€334,972 | |
| Assets under construction and advance payments | 27 | €144,407 | €0 | -€144,407 | -100.0% |
| Financial fixed assets | 28 | - | €251 | +€251 | |
| Current assets | 29/58 | €30,169 | €150,247 | +€120,078 | +398.0% |
| Stocks and contracts in progress | 3 | - | €16,564 | +€16,564 | |
| Stocks | 30/36 | - | €16,564 | +€16,564 | |
| Amounts receivable within one year | 40/41 | €30,169 | €99,101 | +€68,932 | +228.5% |
| Trade receivables | 40 | - | €14,162 | +€14,162 | |
| Other amounts receivable | 41 | €30,169 | €84,940 | +€54,771 | +181.5% |
| Cash at bank and in hand | 54/58 | - | €28,983 | +€28,983 | |
| Deferred charges and accrued income | 490/1 | - | €5,599 | +€5,599 | |
| Total equity and liabilities | 10/49 | €175,560 | €911,391 | +€735,831 | +419.1% |
| Equity | 10/15 | €50,998 | €60,747 | +€9,750 | +19.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | - | €6,150 | +€6,150 | |
| Non-distributable reserves | 130/1 | - | €6,150 | +€6,150 | |
| Legal reserve | 130 | - | €6,150 | +€6,150 | |
| Profit (loss) carried forward | 14 | -€10,502 | -€6,903 | +€3,600 | +34.3% |
| Amounts payable | 17/49 | €124,562 | €850,644 | +€726,082 | +582.9% |
| Amounts payable after more than one year | 17 | - | €585,905 | +€585,905 | |
| Financial debts | 170/4 | - | €585,905 | +€585,905 | |
| Amounts payable within one year | 42/48 | €124,446 | €264,613 | +€140,167 | +112.6% |
| Current portion of amounts payable after more than one year | 42 | - | €91,629 | +€91,629 | |
| Trade debts | 44 | €124,446 | €92,810 | -€31,636 | -25.4% |
| Suppliers | 440/4 | €124,446 | €92,810 | -€31,636 | -25.4% |
| Taxes, remuneration and social security | 45 | - | €31,664 | +€31,664 | |
| Taxes | 450/3 | - | €6,973 | +€6,973 | |
| Remuneration and social security | 454/9 | - | €24,691 | +€24,691 | |
| Other amounts payable | 47/48 | - | €48,510 | +€48,510 | |
| Accrued charges and deferred income | 492/3 | €116 | €125 | +€10 | +8.2% |
| Non-recurring operating income | 76A | - | €120 | +€120 | |
| Remuneration, social security and pensions | 62 | - | €101,774 | +€101,774 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214 | €22,228 | +€22,014 | +10284.4% |
| Other operating charges | 640/8 | €50 | €1,883 | +€1,833 | +3666.7% |
| Non-recurring operating charges | 66A | - | €1,876 | +€1,876 | |
| Gross operating margin | 9900 | -€9,321 | €150,372 | +€159,693 | |
| Operating profit (loss) | 9901 | -€9,585 | €22,611 | +€32,196 | |
| Financial income | 75/76B | - | €3,017 | +€3,017 | |
| Recurring financial income | 75 | - | €3,017 | +€3,017 | |
| Financial charges | 65/66B | €417 | €11,678 | +€11,261 | +2701.8% |
| Recurring financial charges | 65 | €417 | €11,678 | +€11,261 | +2701.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,002 | €13,950 | +€23,952 | |
| Income taxes | 67/77 | €500 | €4,200 | +€3,700 | +740.0% |
| Profit (loss) for the period | 9904 | -€10,502 | €9,750 | +€20,252 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,502 | €9,750 | +€20,252 |
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 11 October 2026 via checked.be.