Renatus: 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.
Renatus
Largest movements
- Receivables within one year -€269,600
down €269,600 (-54.1%), from €498,471 to €228,871
of which Other amounts receivable: -€235,098
- Cash +€162,331
up €162,331 (+145.3%), from €111,723 to €274,054
mainly Receivables within one year (+€269,600) and Other debts (+€204,110)
- Stocks and contracts -€92,051
down €92,051 (-51.9%), from €177,213 to €85,162
- Tangible fixed assets -€69,297
down €69,297 (-30.1%), from €230,114 to €160,817
of which Plant, machinery and equipment: -€45,635
- Deferred charges and accrued income -€19,705
down €19,705 (-98.5%), from €20,012 to €306
- Other debts +€204,110
up €204,110 (+139.1%), from €146,733 to €350,843
- Debts after one year -€189,008
down €189,008 (-88.9%), from €212,644 to €23,635
of which Other amounts payable: -€150,000
- Contributions -€130,000
down €130,000 (-86.7%), from €150,000 to €20,000
- Trade debts -€117,163
down €117,163 (-84.2%), from €139,107 to €21,944
- Short-term financial debts -€35,000
down €35,000 (-77.8%), from €45,000 to €10,000
- Staff costs +€31,019
up €31,019 (+58.3%), from €53,192 to €84,211
- Gross operating margin -€10,417
down €10,417 (-5.4%), from €192,683 to €182,267
- Depreciation -€8,086
down €8,086 (-10.0%), from €80,484 to €72,398
- Taxes +€4,474
up €4,474 (+52.5%), from €8,514 to €12,987
- Other operating charges -€2,362
down €2,362 (-64.0%), from €3,690 to €1,328
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 | €1,149,828 | €877,146 | -€272,681 | -23.7% |
| Fixed assets | 21/28 | €239,409 | €170,126 | -€69,284 | -28.9% |
| Intangible fixed assets | 21 | €8,958 | €8,972 | +€13 | +0.1% |
| Tangible fixed assets | 22/27 | €230,114 | €160,817 | -€69,297 | -30.1% |
| Land and buildings | 22 | €99,890 | €78,862 | -€21,028 | -21.1% |
| Plant, machinery and equipment | 23 | €121,683 | €76,048 | -€45,635 | -37.5% |
| Furniture and vehicles | 24 | €8,541 | €5,906 | -€2,635 | -30.9% |
| Financial fixed assets | 28 | €337 | €337 | = | 0.0% |
| Current assets | 29/58 | €910,418 | €707,021 | -€203,398 | -22.3% |
| Stocks and contracts in progress | 3 | €177,213 | €85,162 | -€92,051 | -51.9% |
| Stocks | 30/36 | €177,213 | €85,162 | -€92,051 | -51.9% |
| Amounts receivable within one year | 40/41 | €498,471 | €228,871 | -€269,600 | -54.1% |
| Trade receivables | 40 | €52,919 | €18,417 | -€34,503 | -65.2% |
| Other amounts receivable | 41 | €445,552 | €210,454 | -€235,098 | -52.8% |
| Current investments | 50/53 | €103,000 | €118,628 | +€15,628 | +15.2% |
| Cash at bank and in hand | 54/58 | €111,723 | €274,054 | +€162,331 | +145.3% |
| Deferred charges and accrued income | 490/1 | €20,012 | €306 | -€19,705 | -98.5% |
| Total equity and liabilities | 10/49 | €1,149,828 | €877,146 | -€272,681 | -23.7% |
| Equity | 10/15 | €506,483 | €401,495 | -€104,987 | -20.7% |
| Contributions | 10/11 | €150,000 | €20,000 | -€130,000 | -86.7% |
| Reserves | 13 | €330,000 | €330,000 | = | 0.0% |
| Distributable reserves | 133 | €330,000 | €330,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,483 | €51,495 | +€25,013 | +94.4% |
| Amounts payable | 17/49 | €643,345 | €475,651 | -€167,694 | -26.1% |
| Amounts payable after more than one year | 17 | €212,644 | €23,635 | -€189,008 | -88.9% |
| Financial debts | 170/4 | €62,644 | €23,635 | -€39,008 | -62.3% |
| Other amounts payable | 178/9 | €150,000 | - | -€150,000 | |
| Amounts payable within one year | 42/48 | €430,701 | €452,016 | +€21,314 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €45,683 | €39,008 | -€6,675 | -14.6% |
| Financial debts | 43 | €45,000 | €10,000 | -€35,000 | -77.8% |
| Credit institutions | 430/8 | €45,000 | €10,000 | -€35,000 | -77.8% |
| Trade debts | 44 | €139,107 | €21,944 | -€117,163 | -84.2% |
| Suppliers | 440/4 | €139,107 | €21,944 | -€117,163 | -84.2% |
| Taxes, remuneration and social security | 45 | €54,179 | €30,220 | -€23,959 | -44.2% |
| Taxes | 450/3 | €54,179 | €27,614 | -€26,564 | -49.0% |
| Remuneration and social security | 454/9 | - | €2,606 | +€2,606 | |
| Other amounts payable | 47/48 | €146,733 | €350,843 | +€204,110 | +139.1% |
| Remuneration, social security and pensions | 62 | €53,192 | €84,211 | +€31,019 | +58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,484 | €72,398 | -€8,086 | -10.0% |
| Other operating charges | 640/8 | €3,690 | €1,328 | -€2,362 | -64.0% |
| Gross operating margin | 9900 | €192,683 | €182,267 | -€10,417 | -5.4% |
| Operating profit (loss) | 9901 | €55,318 | €24,329 | -€30,989 | -56.0% |
| Financial income | 75/76B | €19,728 | €18,805 | -€924 | -4.7% |
| Recurring financial income | 75 | €19,728 | €18,805 | -€924 | -4.7% |
| Financial charges | 65/66B | €7,356 | €5,134 | -€2,223 | -30.2% |
| Recurring financial charges | 65 | €7,356 | €5,134 | -€2,223 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €67,690 | €38,000 | -€29,690 | -43.9% |
| Income taxes | 67/77 | €8,514 | €12,987 | +€4,474 | +52.5% |
| Profit (loss) for the period | 9904 | €59,176 | €25,013 | -€34,163 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,176 | €25,013 | -€34,163 | -57.7% |
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 29 September 2026 via checked.be.