RENE CORMAN: 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.
What changed
RENE CORMAN
NACE 47.252, Retail sale of beverages, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€220,840
2024 · €192,254+€28,585
Equity
€3.9m
2024 · €3.8m+€60,852
Cash
€1.6m
2024 · €1.3m+€265,012
Balance sheet total
€5.3m
2024 · €5.3m+€16,160
Largest movements
Assets
- Cash +€265,012
up €265,012 (+20.6%), from €1.3m to €1.6m
mainly Net result for the year (+€220,840) and Depreciation (+€215,488)
- Tangible fixed assets -€139,898
down €139,898 (-10.7%), from €1.3m to €1.2m
of which Land and buildings: -€76,926
- Receivables within one year -€79,013
down €79,013 (-9.8%), from €802,815 to €723,802
of which Trade receivables: -€100,919
Equity and liabilities
- Trade debts -€78,246
down €78,246 (-13.7%), from €570,783 to €492,537
- Profit (loss) carried forward +€70,840
up €70,840 (+3.3%), from €2.1m to €2.2m
- Other debts +€69,062
up €69,062 (+11.0%), from €629,010 to €698,072
Income statement
- Staff costs -€43,194
down €43,194 (-4.9%), from €881,797 to €838,603
- Gross operating margin +€19,161
up €19,161 (+1.2%), from €1.6m to €1.6m
- Financial income -€17,836
down €17,836 (-57.2%), from €31,183 to €13,347
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.
Result 2024
€192,254
Gross operating margin
+€19,161
Staff costs
+€43,194
Depreciation
+€3,331
Other operating charges
-€5,430
Financial income
-€17,836
Financial charges
-€3,112
Taxes
-€10,722
Result 2025
€220,840
raises the resultlowers the result
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.
From operations
+€541,895
Investment
-€75,590
Financing
-€201,293
Cash 2024
€1.3m
From operations (derived)
+€541,895
Net result for the year
+€220,840
Depreciation
+€215,488
Stocks and contracts
+€23,067
Receivables within one year
+€79,013
Deferred charges and accrued income
+€6,875
Provisions
-€1,084
Trade debts
-€78,246
Tax, wage and social debts
+€6,881
Other debts
+€69,062
Investment (derived)
-€75,590
Investment in fixed assets (net)
-€75,590
Financing
-€201,293
Debts after one year
-€41,755
Current portion of long-term debt
+€450
Contributions, distributions and other
-€159,988
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,308,925 | €5,325,086 | +€16,160 | +0.3% |
| Fixed assets | 21/28 | €2,108,415 | €1,968,518 | -€139,898 | -6.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,301,954 | €1,162,057 | -€139,898 | -10.7% |
| Land and buildings | 22 | €865,940 | €789,014 | -€76,926 | -8.9% |
| Plant, machinery and equipment | 23 | €143,239 | €130,581 | -€12,659 | -8.8% |
| Furniture and vehicles | 24 | €292,775 | €242,462 | -€50,313 | -17.2% |
| Financial fixed assets | 28 | €806,461 | €806,461 | = | 0.0% |
| Current assets | 29/58 | €3,200,510 | €3,356,568 | +€156,058 | +4.9% |
| Stocks and contracts in progress | 3 | €1,073,963 | €1,050,895 | -€23,067 | -2.1% |
| Stocks | 30/36 | €1,073,963 | €1,050,895 | -€23,067 | -2.1% |
| Amounts receivable within one year | 40/41 | €802,815 | €723,802 | -€79,013 | -9.8% |
| Trade receivables | 40 | €497,704 | €396,785 | -€100,919 | -20.3% |
| Other amounts receivable | 41 | €305,111 | €327,017 | +€21,906 | +7.2% |
| Cash at bank and in hand | 54/58 | €1,285,533 | €1,550,545 | +€265,012 | +20.6% |
| Deferred charges and accrued income | 490/1 | €38,200 | €31,325 | -€6,875 | -18.0% |
| Total equity and liabilities | 10/49 | €5,308,925 | €5,325,086 | +€16,160 | +0.3% |
| Equity | 10/15 | €3,836,146 | €3,896,997 | +€60,852 | +1.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,565,055 | €1,565,055 | = | 0.0% |
| Tax-exempt reserves | 132 | €350,950 | €350,950 | = | 0.0% |
| Distributable reserves | 133 | €1,214,105 | €1,214,105 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,131,336 | €2,202,176 | +€70,840 | +3.3% |
| Investment grants | 15 | €14,755 | €4,767 | -€9,988 | -67.7% |
| Provisions and deferred taxes | 16 | €2,708 | €1,625 | -€1,084 | -40.0% |
| Deferred taxes | 168 | €2,708 | €1,625 | -€1,084 | -40.0% |
| Amounts payable | 17/49 | €1,470,071 | €1,426,463 | -€43,608 | -3.0% |
| Amounts payable after more than one year | 17 | €62,803 | €21,048 | -€41,755 | -66.5% |
| Financial debts | 170/4 | €62,803 | €21,048 | -€41,755 | -66.5% |
| Amounts payable within one year | 42/48 | €1,407,269 | €1,405,416 | -€1,853 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €41,305 | €41,755 | +€450 | +1.1% |
| Trade debts | 44 | €570,783 | €492,537 | -€78,246 | -13.7% |
| Suppliers | 440/4 | €570,783 | €492,537 | -€78,246 | -13.7% |
| Taxes, remuneration and social security | 45 | €166,171 | €173,052 | +€6,881 | +4.1% |
| Taxes | 450/3 | €37,614 | €40,431 | +€2,817 | +7.5% |
| Remuneration and social security | 454/9 | €128,557 | €132,621 | +€4,064 | +3.2% |
| Other amounts payable | 47/48 | €629,010 | €698,072 | +€69,062 | +11.0% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €881,797 | €838,603 | -€43,194 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €218,819 | €215,488 | -€3,331 | -1.5% |
| Other operating charges | 640/8 | €179,324 | €184,754 | +€5,430 | +3.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,571,405 | €1,590,566 | +€19,161 | +1.2% |
| Operating profit (loss) | 9901 | €291,465 | €351,721 | +€60,256 | +20.7% |
| Financial income | 75/76B | €31,183 | €13,347 | -€17,836 | -57.2% |
| Recurring financial income | 75 | €31,183 | €13,347 | -€17,836 | -57.2% |
| Financial charges | 65/66B | €38,694 | €41,806 | +€3,112 | +8.0% |
| Recurring financial charges | 65 | €38,694 | €41,806 | +€3,112 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | €283,954 | €323,261 | +€39,307 | +13.8% |
| Transfer from deferred taxes | 780 | €1,084 | €1,084 | = | 0.0% |
| Income taxes | 67/77 | €92,783 | €103,506 | +€10,722 | +11.6% |
| Profit (loss) for the period | 9904 | €192,254 | €220,840 | +€28,585 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €192,254 | €220,840 | +€28,585 | +14.9% |
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 29 October 2026 via checked.be.