RENATIO: 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.
RENATIO
Largest movements
- Cash +€18,142
up €18,142 (+548.5%), from €3,308 to €21,449
mainly Net result for the year (+€90,084) and Depreciation (+€23,499)
- Tangible fixed assets -€15,221
down €15,221 (-8.0%), from €190,989 to €175,768
of which Plant, machinery and equipment: -€12,004
- Receivables within one year +€3,415
up €3,415 (+15.4%), from €22,229 to €25,644
of which Other amounts receivable: +€12,921
- Reserves +€90,084
up €90,084 (+291.9%), from €30,866 to €120,950
- Other debts -€64,638
down €64,638 (-51.3%), from €125,985 to €61,348
- Tax, wage and social debts -€9,920
down €9,920 (-29.1%), from €34,096 to €24,176
of which Remuneration and social security: -€26,123
- Current portion of long-term debt -€6,991
down €6,991 (-74.5%), from €9,379 to €2,388
- Trade debts +€3,655
up €3,655 (+56.0%), from €6,524 to €10,180
- Gross operating margin +€180,743
up €180,743, from -€62,066 to €118,677
- Financial charges -€4,040
down €4,040 (-58.3%), from €6,934 to €2,894
- Depreciation +€1,880
up €1,880 (+8.7%), from €21,619 to €23,499
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 | €216,580 | €222,916 | +€6,336 | +2.9% |
| Fixed assets | 21/28 | €191,044 | €175,823 | -€15,221 | -8.0% |
| Tangible fixed assets | 22/27 | €190,989 | €175,768 | -€15,221 | -8.0% |
| Land and buildings | 22 | €147,770 | €142,896 | -€4,874 | -3.3% |
| Plant, machinery and equipment | 23 | €23,409 | €11,406 | -€12,004 | -51.3% |
| Furniture and vehicles | 24 | €15,110 | €17,027 | +€1,917 | +12.7% |
| Other tangible fixed assets | 26 | €4,700 | €4,439 | -€261 | -5.5% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €25,536 | €47,093 | +€21,557 | +84.4% |
| Amounts receivable within one year | 40/41 | €22,229 | €25,644 | +€3,415 | +15.4% |
| Trade receivables | 40 | €21,780 | €12,274 | -€9,506 | -43.6% |
| Other amounts receivable | 41 | €449 | €13,370 | +€12,921 | +2880.6% |
| Cash at bank and in hand | 54/58 | €3,308 | €21,449 | +€18,142 | +548.5% |
| Total equity and liabilities | 10/49 | €216,580 | €222,916 | +€6,336 | +2.9% |
| Equity | 10/15 | €33,866 | €123,950 | +€90,084 | +266.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,866 | €120,950 | +€90,084 | +291.9% |
| Distributable reserves | 133 | €30,866 | €120,950 | +€90,084 | +291.9% |
| Amounts payable | 17/49 | €182,714 | €98,966 | -€83,748 | -45.8% |
| Amounts payable after more than one year | 17 | €2,388 | €0 | -€2,388 | -100.0% |
| Financial debts | 170/4 | €2,388 | €0 | -€2,388 | -100.0% |
| Amounts payable within one year | 42/48 | €180,326 | €98,966 | -€81,360 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €9,379 | €2,388 | -€6,991 | -74.5% |
| Financial debts | 43 | €4,342 | €875 | -€3,467 | -79.8% |
| Credit institutions | 430/8 | €4,342 | €875 | -€3,467 | -79.8% |
| Trade debts | 44 | €6,524 | €10,180 | +€3,655 | +56.0% |
| Suppliers | 440/4 | €6,524 | €10,180 | +€3,655 | +56.0% |
| Taxes, remuneration and social security | 45 | €34,096 | €24,176 | -€9,920 | -29.1% |
| Taxes | 450/3 | €4,293 | €20,496 | +€16,203 | +377.4% |
| Remuneration and social security | 454/9 | €29,802 | €3,679 | -€26,123 | -87.7% |
| Other amounts payable | 47/48 | €125,985 | €61,348 | -€64,638 | -51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,619 | €23,499 | +€1,880 | +8.7% |
| Other operating charges | 640/8 | €387 | €1,286 | +€899 | +232.0% |
| Non-recurring operating charges | 66A | €834 | €0 | -€834 | -100.0% |
| Gross operating margin | 9900 | -€62,066 | €118,677 | +€180,743 | |
| Operating profit (loss) | 9901 | -€84,905 | €93,892 | +€178,797 | |
| Financial income | 75/76B | €8 | €30 | +€22 | +282.9% |
| Recurring financial income | 75 | €8 | €30 | +€22 | +282.9% |
| Financial charges | 65/66B | €6,934 | €2,894 | -€4,040 | -58.3% |
| Recurring financial charges | 65 | €6,934 | €2,894 | -€4,040 | -58.3% |
| Profit (loss) for the period before taxes | 9903 | -€91,832 | €91,028 | +€182,860 | |
| Income taxes | 67/77 | €0 | €944 | +€944 | |
| Profit (loss) for the period | 9904 | -€91,832 | €90,084 | +€181,916 | |
| Profit (loss) for the period to be appropriated | 9905 | -€91,832 | €90,084 | +€181,916 |
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.