RENDECO: 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.
RENDECO
Largest movements
- Receivables within one year +€312,003
up €312,003 (+264.4%), from €117,997 to €430,000
of which Trade receivables: +€430,000
- Stocks and contracts +€184,808
up €184,808 (+7.1%), from €2.6m to €2.8m
- Cash -€77,459
down €77,459 (-56.3%), from €137,622 to €60,163
mainly Debts after one year (-€325,000) and Receivables within one year (-€312,003)
- Short-term financial debts +€581,080
up €581,080 (+93.9%), from €618,920 to €1.2m
- Debts after one year -€325,000
down €325,000 (-18.0%), from €1.8m to €1.5m
- Reserves +€63,778
up €63,778 (+8.2%), from €781,937 to €845,715
of which Distributable reserves: +€63,778
- Other debts +€55,663
up €55,663 (+570.7%), from €9,753 to €65,416
- Trade debts +€37,925
up €37,925 (+343.5%), from €11,040 to €48,965
- Financial charges +€33,294
up €33,294 (+33.4%), from €99,788 to €133,082
- Gross operating margin -€28,869
down €28,869 (-11.1%), from €260,374 to €231,505
- Taxes -€20,134
down €20,134 (-39.8%), from €50,558 to €30,424
- Other operating charges +€5,711
up €5,711 (+76.5%), from €7,468 to €13,179
- Financial income +€4,548
up €4,548 (+83.0%), from €5,482 to €10,029
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 | €3,250,708 | €3,668,988 | +€418,280 | +12.9% |
| Fixed assets | 21/28 | €376,403 | €375,330 | -€1,073 | -0.3% |
| Tangible fixed assets | 22/27 | €1,073 | - | -€1,073 | |
| Plant, machinery and equipment | 23 | €1,073 | - | -€1,073 | |
| Financial fixed assets | 28 | €375,330 | €375,330 | = | 0.0% |
| Current assets | 29/58 | €2,874,306 | €3,293,658 | +€419,353 | +14.6% |
| Stocks and contracts in progress | 3 | €2,618,687 | €2,803,495 | +€184,808 | +7.1% |
| Stocks | 30/36 | €2,618,687 | €2,803,495 | +€184,808 | +7.1% |
| Amounts receivable within one year | 40/41 | €117,997 | €430,000 | +€312,003 | +264.4% |
| Trade receivables | 40 | - | €430,000 | +€430,000 | |
| Other amounts receivable | 41 | €117,997 | - | -€117,997 | |
| Cash at bank and in hand | 54/58 | €137,622 | €60,163 | -€77,459 | -56.3% |
| Total equity and liabilities | 10/49 | €3,250,708 | €3,668,988 | +€418,280 | +12.9% |
| Equity | 10/15 | €800,537 | €864,315 | +€63,778 | +8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €781,937 | €845,715 | +€63,778 | +8.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €780,077 | €843,855 | +€63,778 | +8.2% |
| Amounts payable | 17/49 | €2,450,171 | €2,804,674 | +€354,503 | +14.5% |
| Amounts payable after more than one year | 17 | €1,810,000 | €1,485,000 | -€325,000 | -18.0% |
| Financial debts | 170/4 | €1,810,000 | €1,485,000 | -€325,000 | -18.0% |
| Amounts payable within one year | 42/48 | €640,171 | €1,319,674 | +€679,503 | +106.1% |
| Financial debts | 43 | €618,920 | €1,200,000 | +€581,080 | +93.9% |
| Credit institutions | 430/8 | €618,920 | €1,200,000 | +€581,080 | +93.9% |
| Trade debts | 44 | €11,040 | €48,965 | +€37,925 | +343.5% |
| Suppliers | 440/4 | €11,040 | €48,965 | +€37,925 | +343.5% |
| Taxes, remuneration and social security | 45 | €458 | €5,293 | +€4,835 | +1056.1% |
| Taxes | 450/3 | €458 | €5,293 | +€4,835 | +1056.1% |
| Other amounts payable | 47/48 | €9,753 | €65,416 | +€55,663 | +570.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,073 | €1,073 | +€0 | 0.0% |
| Other operating charges | 640/8 | €7,468 | €13,179 | +€5,711 | +76.5% |
| Gross operating margin | 9900 | €260,374 | €231,505 | -€28,869 | -11.1% |
| Operating profit (loss) | 9901 | €251,833 | €217,253 | -€34,579 | -13.7% |
| Financial income | 75/76B | €5,482 | €10,029 | +€4,548 | +83.0% |
| Recurring financial income | 75 | €5,482 | €10,029 | +€4,548 | +83.0% |
| Financial charges | 65/66B | €99,788 | €133,082 | +€33,294 | +33.4% |
| Recurring financial charges | 65 | €99,788 | €133,082 | +€33,294 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | €157,526 | €94,201 | -€63,325 | -40.2% |
| Income taxes | 67/77 | €50,558 | €30,424 | -€20,134 | -39.8% |
| Profit (loss) for the period | 9904 | €106,969 | €63,778 | -€43,191 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €106,969 | €63,778 | -€43,191 | -40.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.