RENARD TECHNIQUE: 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.
RENARD TECHNIQUE
Largest movements
- Cash +€19,629
up €19,629 (+16.0%), from €122,480 to €142,109
mainly Net result for the year (+€29,189) and Receivables within one year (+€5,973)
- Tangible fixed assets +€10,263
up €10,263 (+169%), from €6,065 to €16,328
of which Furniture and vehicles: +€10,652
- Receivables within one year -€5,973
down €5,973 (-31.1%), from €19,186 to €13,213
of which Trade receivables: -€8,178
- Reserves +€29,189
up €29,189 (+24.3%), from €120,094 to €149,282
of which Distributable reserves: +€29,189
- Tax, wage and social debts -€6,779
down €6,779 (-34.9%), from €19,408 to €12,630
- Other debts -€6,222
down €6,222 (-77.4%), from €8,035 to €1,813
- Debts after one year +€4,990
new in 2025: €4,990
- Current portion of long-term debt +€2,138
new in 2025: €2,138
- Depreciation +€2,483
up €2,483 (+98.7%), from €2,515 to €4,999
- Gross operating margin -€2,132
down €2,132 (-4.0%), from €53,082 to €50,950
- Taxes -€1,108
down €1,108 (-6.6%), from €16,869 to €15,761
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.
Derived cash bridge
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 | €148,134 | €172,121 | +€23,987 | +16.2% |
| Fixed assets | 21/28 | €6,365 | €16,628 | +€10,263 | +161% |
| Tangible fixed assets | 22/27 | €6,065 | €16,328 | +€10,263 | +169% |
| Plant, machinery and equipment | 23 | €626 | €237 | -€389 | -62.1% |
| Furniture and vehicles | 24 | €5,439 | €16,091 | +€10,652 | +196% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €141,769 | €155,493 | +€13,724 | +9.7% |
| Amounts receivable within one year | 40/41 | €19,186 | €13,213 | -€5,973 | -31.1% |
| Trade receivables | 40 | €11,326 | €3,148 | -€8,178 | -72.2% |
| Other amounts receivable | 41 | €7,860 | €10,065 | +€2,205 | +28.1% |
| Cash at bank and in hand | 54/58 | €122,480 | €142,109 | +€19,629 | +16.0% |
| Deferred charges and accrued income | 490/1 | €102 | €171 | +€69 | +67.0% |
| Total equity and liabilities | 10/49 | €148,134 | €172,121 | +€23,987 | +16.2% |
| Equity | 10/15 | €120,594 | €149,782 | +€29,189 | +24.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €120,094 | €149,282 | +€29,189 | +24.3% |
| Non-distributable reserves | 130/1 | €50 | €50 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50 | €50 | = | 0.0% |
| Distributable reserves | 133 | €120,044 | €149,232 | +€29,189 | +24.3% |
| Amounts payable | 17/49 | €27,540 | €22,339 | -€5,201 | -18.9% |
| Amounts payable after more than one year | 17 | - | €4,990 | +€4,990 | |
| Financial debts | 170/4 | - | €4,990 | +€4,990 | |
| Amounts payable within one year | 42/48 | €27,540 | €17,349 | -€10,191 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | - | €2,138 | +€2,138 | |
| Trade debts | 44 | €97 | €768 | +€671 | +691% |
| Suppliers | 440/4 | €97 | €768 | +€671 | +691% |
| Taxes, remuneration and social security | 45 | €19,408 | €12,630 | -€6,779 | -34.9% |
| Taxes | 450/3 | €19,408 | €12,630 | -€6,779 | -34.9% |
| Other amounts payable | 47/48 | €8,035 | €1,813 | -€6,222 | -77.4% |
| Non-recurring operating income | 76A | - | €5,709 | +€5,709 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,515 | €4,999 | +€2,483 | +98.7% |
| Other operating charges | 640/8 | €885 | €979 | +€94 | +10.6% |
| Gross operating margin | 9900 | €53,082 | €50,950 | -€2,132 | -4.0% |
| Operating profit (loss) | 9901 | €49,682 | €44,973 | -€4,709 | -9.5% |
| Financial income | 75/76B | €503 | €447 | -€56 | -11.1% |
| Recurring financial income | 75 | €503 | €447 | -€56 | -11.1% |
| Financial charges | 65/66B | €80 | €470 | +€390 | +490% |
| Recurring financial charges | 65 | €80 | €470 | +€390 | +490% |
| Profit (loss) for the period before taxes | 9903 | €50,105 | €44,950 | -€5,155 | -10.3% |
| Income taxes | 67/77 | €16,869 | €15,761 | -€1,108 | -6.6% |
| Profit (loss) for the period | 9904 | €33,236 | €29,189 | -€4,047 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,236 | €29,189 | -€4,047 | -12.2% |
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 14 October 2026 via checked.be.