RENAUD HUWART: 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 HUWART
Largest movements
- Receivables within one year +€14,709
up €14,709 (+17.4%), from €84,585 to €99,294
of which Trade receivables: +€14,055
- Cash -€9,383
down €9,383 (-58.0%), from €16,182 to €6,799
mainly Trade debts (-€29,353) and Receivables within one year (-€14,709)
- Tangible fixed assets -€2,495
down €2,495 (-33.8%), from €7,382 to €4,887
- Reserves +€34,418
up €34,418 (+60.5%), from €56,884 to €91,302
- Trade debts -€29,353
down €29,353 (-83.0%), from €35,383 to €6,030
- Current portion of long-term debt -€4,155
down €4,155 (-41.6%), from €10,000 to €5,845
- Tax, wage and social debts +€1,858
up €1,858 (+22.4%), from €8,301 to €10,159
- Purchases and services -€124,174
no longer reported in 2025 (was €124,174)
- Gross operating margin +€3,715
up €3,715 (+7.0%), from €53,209 to €56,924
- Taxes +€1,015
up €1,015 (+6.9%), from €14,707 to €15,722
- Financial charges +€912
up €912 (+56.5%), from €1,615 to €2,526
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 | €113,068 | €115,836 | +€2,768 | +2.4% |
| Fixed assets | 21/28 | €7,382 | €4,887 | -€2,495 | -33.8% |
| Tangible fixed assets | 22/27 | €7,382 | €4,887 | -€2,495 | -33.8% |
| Furniture and vehicles | 24 | €7,382 | €4,887 | -€2,495 | -33.8% |
| Current assets | 29/58 | €105,686 | €110,949 | +€5,263 | +5.0% |
| Amounts receivable after more than one year | 29 | €4,189 | €4,189 | = | 0.0% |
| Other amounts receivable | 291 | €4,189 | €4,189 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €84,585 | €99,294 | +€14,709 | +17.4% |
| Trade receivables | 40 | €82,717 | €96,771 | +€14,055 | +17.0% |
| Other amounts receivable | 41 | €1,868 | €2,522 | +€654 | +35.0% |
| Cash at bank and in hand | 54/58 | €16,182 | €6,799 | -€9,383 | -58.0% |
| Deferred charges and accrued income | 490/1 | €730 | €667 | -€63 | -8.6% |
| Total equity and liabilities | 10/49 | €113,068 | €115,836 | +€2,768 | +2.4% |
| Equity | 10/15 | €59,384 | €93,802 | +€34,418 | +58.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €56,884 | €91,302 | +€34,418 | +60.5% |
| Distributable reserves | 133 | €56,884 | €91,302 | +€34,418 | +60.5% |
| Amounts payable | 17/49 | €53,684 | €22,034 | -€31,650 | -59.0% |
| Amounts payable within one year | 42/48 | €53,684 | €22,034 | -€31,650 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €5,845 | -€4,155 | -41.6% |
| Trade debts | 44 | €35,383 | €6,030 | -€29,353 | -83.0% |
| Suppliers | 440/4 | €35,383 | €6,030 | -€29,353 | -83.0% |
| Taxes, remuneration and social security | 45 | €8,301 | €10,159 | +€1,858 | +22.4% |
| Taxes | 450/3 | €8,301 | €10,159 | +€1,858 | +22.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €124,174 | - | -€124,174 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,221 | €2,495 | +€274 | +12.3% |
| Other operating charges | 640/8 | €1,876 | €1,763 | -€113 | -6.0% |
| Gross operating margin | 9900 | €53,209 | €56,924 | +€3,715 | +7.0% |
| Operating profit (loss) | 9901 | €49,112 | €52,666 | +€3,554 | +7.2% |
| Financial charges | 65/66B | €1,615 | €2,526 | +€912 | +56.5% |
| Recurring financial charges | 65 | €1,615 | €2,526 | +€912 | +56.5% |
| Profit (loss) for the period before taxes | 9903 | €47,497 | €50,140 | +€2,643 | +5.6% |
| Income taxes | 67/77 | €14,707 | €15,722 | +€1,015 | +6.9% |
| Profit (loss) for the period | 9904 | €32,790 | €34,418 | +€1,628 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,790 | €34,418 | +€1,628 | +5.0% |
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.