RENAX: 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.
RENAX
Largest movements
- Tangible fixed assets +€104,618
new in 2025: €104,618
- Cash +€33,883
up €33,883 (+24.9%), from €136,123 to €170,006
mainly Net result for the year (+€129,041) and Trade debts (+€36,514)
- Reserves +€129,000
up €129,000 (+79.9%), from €161,550 to €290,550
- Tax, wage and social debts -€50,151
down €50,151 (-92.9%), from €54,003 to €3,852
of which Taxes: -€50,178
- Trade debts +€36,514
up €36,514 (+2,735%), from €1,335 to €37,850
- Other debts +€28,122
up €28,122 (+752%), from €3,738 to €31,860
- Debts after one year -€21,350
down €21,350 (-1.9%), from €1.1m to €1.1m
- Gross operating margin -€55,190
down €55,190 (-20.9%), from €264,288 to €209,097
- Taxes -€18,903
down €18,903 (-26.8%), from €70,655 to €51,752
- Financial charges -€4,995
down €4,995 (-15.5%), from €32,233 to €27,238
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 | €1,462,646 | €1,603,057 | +€140,410 | +9.6% |
| Fixed assets | 21/28 | €1,300,000 | €1,404,618 | +€104,618 | +8.0% |
| Tangible fixed assets | 22/27 | - | €104,618 | +€104,618 | |
| Furniture and vehicles | 24 | - | €104,618 | +€104,618 | |
| Financial fixed assets | 28 | €1,300,000 | €1,300,000 | = | 0.0% |
| Current assets | 29/58 | €162,646 | €198,439 | +€35,793 | +22.0% |
| Amounts receivable within one year | 40/41 | €26,523 | €28,433 | +€1,910 | +7.2% |
| Trade receivables | 40 | €26,523 | €26,633 | +€110 | +0.4% |
| Other amounts receivable | 41 | - | €1,800 | +€1,800 | |
| Cash at bank and in hand | 54/58 | €136,123 | €170,006 | +€33,883 | +24.9% |
| Total equity and liabilities | 10/49 | €1,462,646 | €1,603,057 | +€140,410 | +9.6% |
| Equity | 10/15 | €191,555 | €320,596 | +€129,041 | +67.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €161,550 | €290,550 | +€129,000 | +79.9% |
| Distributable reserves | 133 | €161,550 | €290,550 | +€129,000 | +79.9% |
| Profit (loss) carried forward | 14 | €5 | €46 | +€41 | +860% |
| Amounts payable | 17/49 | €1,271,092 | €1,282,461 | +€11,369 | +0.9% |
| Amounts payable after more than one year | 17 | €1,103,766 | €1,082,416 | -€21,350 | -1.9% |
| Financial debts | 170/4 | €1,103,766 | €1,082,416 | -€21,350 | -1.9% |
| Amounts payable within one year | 42/48 | €155,326 | €188,045 | +€32,719 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €96,250 | €114,483 | +€18,233 | +18.9% |
| Trade debts | 44 | €1,335 | €37,850 | +€36,514 | +2,735% |
| Suppliers | 440/4 | €1,335 | €37,850 | +€36,514 | +2,735% |
| Taxes, remuneration and social security | 45 | €54,003 | €3,852 | -€50,151 | -92.9% |
| Taxes | 450/3 | €50,373 | €195 | -€50,178 | -99.6% |
| Remuneration and social security | 454/9 | €3,630 | €3,657 | +€28 | +0.8% |
| Other amounts payable | 47/48 | €3,738 | €31,860 | +€28,122 | +752% |
| Accrued charges and deferred income | 492/3 | €12,000 | €12,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,159 | +€1,159 | |
| Other operating charges | 640/8 | €62 | €150 | +€88 | +141% |
| Gross operating margin | 9900 | €264,288 | €209,097 | -€55,190 | -20.9% |
| Operating profit (loss) | 9901 | €264,226 | €207,788 | -€56,437 | -21.4% |
| Financial income | 75/76B | €218 | €243 | +€26 | +11.9% |
| Recurring financial income | 75 | €218 | €243 | +€26 | +11.9% |
| Financial charges | 65/66B | €32,233 | €27,238 | -€4,995 | -15.5% |
| Recurring financial charges | 65 | €32,233 | €27,238 | -€4,995 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €232,210 | €180,794 | -€51,416 | -22.1% |
| Income taxes | 67/77 | €70,655 | €51,752 | -€18,903 | -26.8% |
| Profit (loss) for the period | 9904 | €161,555 | €129,041 | -€32,514 | -20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €161,555 | €129,041 | -€32,514 | -20.1% |
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 23 October 2026 via checked.be.