RENARDI: 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.
RENARDI
Largest movements
- Stocks and contracts -€49,189
down €49,189 (-100.0%), from €49,189 to €0
- Cash -€23,548
down €23,548 (-38.4%), from €61,244 to €37,696
mainly Net result for the year (-€66,788) and Receivables within one year (-€10,144)
- Receivables within one year +€10,144
up €10,144 (+21.5%), from €47,257 to €57,400
of which Trade receivables: +€10,395
- Tangible fixed assets -€3,383
down €3,383 (-3.7%), from €90,628 to €87,245
of which Furniture and vehicles: -€3,383
- Profit (loss) carried forward -€66,788
down €66,788 (-141.0%), from -€47,375 to -€114,163
- Gross operating margin -€75,892
down €75,892, from €14,029 to -€61,863
- Other operating charges -€6,950
down €6,950 (-87.2%), from €7,967 to €1,017
- Financial charges -€713
down €713 (-65.0%), from €1,098 to €385
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 | €250,131 | €183,399 | -€66,732 | -26.7% |
| Fixed assets | 21/28 | €90,628 | €87,245 | -€3,383 | -3.7% |
| Tangible fixed assets | 22/27 | €90,628 | €87,245 | -€3,383 | -3.7% |
| Land and buildings | 22 | €81,805 | €81,805 | = | 0.0% |
| Furniture and vehicles | 24 | €8,823 | €5,440 | -€3,383 | -38.3% |
| Current assets | 29/58 | €159,503 | €96,154 | -€63,349 | -39.7% |
| Stocks and contracts in progress | 3 | €49,189 | €0 | -€49,189 | -100.0% |
| Stocks | 30/36 | €49,189 | €0 | -€49,189 | -100.0% |
| Amounts receivable within one year | 40/41 | €47,257 | €57,400 | +€10,144 | +21.5% |
| Trade receivables | 40 | €70 | €10,465 | +€10,395 | +14791.1% |
| Other amounts receivable | 41 | €47,187 | €46,935 | -€252 | -0.5% |
| Cash at bank and in hand | 54/58 | €61,244 | €37,696 | -€23,548 | -38.4% |
| Deferred charges and accrued income | 490/1 | €1,814 | €1,058 | -€756 | -41.7% |
| Total equity and liabilities | 10/49 | €250,131 | €183,399 | -€66,732 | -26.7% |
| Equity | 10/15 | €245,775 | €178,987 | -€66,788 | -27.2% |
| Contributions | 10/11 | €266,500 | €266,500 | = | 0.0% |
| Capital | 10 | €266,500 | €266,500 | = | 0.0% |
| Issued capital | 100 | €266,500 | €266,500 | = | 0.0% |
| Reserves | 13 | €26,650 | €26,650 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,650 | €26,650 | = | 0.0% |
| Legal reserve | 130 | €26,650 | €26,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,375 | -€114,163 | -€66,788 | -141.0% |
| Amounts payable | 17/49 | €4,356 | €4,412 | +€56 | +1.3% |
| Amounts payable within one year | 42/48 | €4,356 | €4,412 | +€56 | +1.3% |
| Trade debts | 44 | €3,229 | €4,271 | +€1,042 | +32.3% |
| Suppliers | 440/4 | €3,229 | €4,271 | +€1,042 | +32.3% |
| Taxes, remuneration and social security | 45 | €976 | €141 | -€835 | -85.6% |
| Taxes | 450/3 | €976 | €141 | -€835 | -85.6% |
| Other amounts payable | 47/48 | €150 | €0 | -€150 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,383 | €3,383 | -€0 | 0.0% |
| Other operating charges | 640/8 | €7,967 | €1,017 | -€6,950 | -87.2% |
| Gross operating margin | 9900 | €14,029 | -€61,863 | -€75,892 | |
| Operating profit (loss) | 9901 | €2,680 | -€66,262 | -€68,942 | |
| Financial income | 75/76B | €8 | €0 | -€8 | -98.6% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -98.6% |
| Financial charges | 65/66B | €1,098 | €385 | -€713 | -65.0% |
| Recurring financial charges | 65 | €1,098 | €385 | -€713 | -65.0% |
| Profit (loss) for the period before taxes | 9903 | €1,590 | -€66,647 | -€68,237 | |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.1% |
| Profit (loss) for the period | 9904 | €1,462 | -€66,788 | -€68,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,462 | -€66,788 | -€68,250 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.