Renaud de Menten: 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.
Renaud de Menten
Largest movements
- Tangible fixed assets +€554,681
up €554,681 (+6,526%), from €8,500 to €563,181
of which Land and buildings: +€555,956
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Receivables within one year -€42,484
down €42,484 (-93.4%), from €45,495 to €3,011
of which Other amounts receivable: -€38,565
- Cash +€22,408
up €22,408 (+3,345%), from €670 to €23,078
mainly Debts after one year (+€383,717) and Current investments (+€100,000)
- Debts after one year +€383,717
new in 2025: €383,717
- Other debts +€49,458
up €49,458 (+2,159%), from €2,290 to €51,748
- Current portion of long-term debt +€12,283
new in 2025: €12,283
- Profit (loss) carried forward -€7,515
down €7,515, from €6,616 to -€899
- Gross operating margin -€16,217
down €16,217, from €9,372 to -€6,846
- Taxes -€3,073
down €3,073, from €2,629 to -€444
- Depreciation +€2,497
up €2,497 (+577%), from €433 to €2,929
- Financial income +€1,930
up €1,930 (+347%), from €557 to €2,487
- Other operating charges +€566
up €566 (+666%), from €85 to €651
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 | €154,791 | €591,096 | +€436,305 | +282% |
| Fixed assets | 21/28 | €8,500 | €563,181 | +€554,681 | +6,526% |
| Tangible fixed assets | 22/27 | €8,500 | €563,181 | +€554,681 | +6,526% |
| Land and buildings | 22 | - | €555,956 | +€555,956 | |
| Furniture and vehicles | 24 | €8,500 | €7,225 | -€1,275 | -15.0% |
| Current assets | 29/58 | €146,291 | €27,915 | -€118,375 | -80.9% |
| Amounts receivable within one year | 40/41 | €45,495 | €3,011 | -€42,484 | -93.4% |
| Trade receivables | 40 | €3,919 | €0 | -€3,919 | -100% |
| Other amounts receivable | 41 | €41,576 | €3,011 | -€38,565 | -92.8% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €670 | €23,078 | +€22,408 | +3,345% |
| Deferred charges and accrued income | 490/1 | €126 | €1,826 | +€1,700 | +1,352% |
| Total equity and liabilities | 10/49 | €154,791 | €591,096 | +€436,305 | +282% |
| Equity | 10/15 | €149,537 | €142,022 | -€7,515 | -5.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €142,421 | €142,421 | = | 0.0% |
| Distributable reserves | 133 | €142,421 | €142,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,616 | -€899 | -€7,515 | |
| Amounts payable | 17/49 | €5,254 | €449,074 | +€443,820 | +8,448% |
| Amounts payable after more than one year | 17 | - | €383,717 | +€383,717 | |
| Financial debts | 170/4 | - | €383,717 | +€383,717 | |
| Amounts payable within one year | 42/48 | €5,254 | €65,357 | +€60,104 | +1,144% |
| Current portion of amounts payable after more than one year | 42 | - | €12,283 | +€12,283 | |
| Trade debts | 44 | €478 | €180 | -€298 | -62.3% |
| Suppliers | 440/4 | €478 | €180 | -€298 | -62.3% |
| Taxes, remuneration and social security | 45 | €2,485 | €1,146 | -€1,340 | -53.9% |
| Taxes | 450/3 | €2,485 | €1,146 | -€1,340 | -53.9% |
| Other amounts payable | 47/48 | €2,290 | €51,748 | +€49,458 | +2,159% |
| Remuneration, social security and pensions | 62 | €124 | - | -€124 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €433 | €2,929 | +€2,497 | +577% |
| Other operating charges | 640/8 | €85 | €651 | +€566 | +666% |
| Gross operating margin | 9900 | €9,372 | -€6,846 | -€16,217 | |
| Operating profit (loss) | 9901 | €8,730 | -€10,426 | -€19,156 | |
| Financial income | 75/76B | €557 | €2,487 | +€1,930 | +347% |
| Recurring financial income | 75 | €557 | €2,487 | +€1,930 | +347% |
| Financial charges | 65/66B | €42 | €20 | -€21 | -51.6% |
| Recurring financial charges | 65 | €42 | €20 | -€21 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | €9,245 | -€7,959 | -€17,204 | |
| Income taxes | 67/77 | €2,629 | -€444 | -€3,073 | |
| Profit (loss) for the period | 9904 | €6,616 | -€7,515 | -€14,131 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,616 | -€7,515 | -€14,131 |
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 25 October 2026 via checked.be.