RENEOR: 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.
RENEOR
Largest movements
- Current investments +€51,000
new in 2025: €51,000
- Cash -€38,609
down €38,609 (-56.4%), from €68,455 to €29,846
mainly Contributions, distributions and other (-€100,000) and Current investments (-€51,000)
- Receivables within one year +€5,613
up €5,613 (+7.2%), from €77,689 to €83,302
of which Other amounts receivable: +€14,002
- Tangible fixed assets +€5,162
up €5,162 (+469.2%), from €1,100 to €6,262
of which Other tangible fixed assets: +€3,384
- Other debts +€37,257
up €37,257 (+45.4%), from €82,122 to €119,380
- Tax, wage and social debts -€9,620
down €9,620 (-29.0%), from €33,155 to €23,536
- Accrued charges and deferred income -€4,619
down €4,619 (-45.9%), from €10,070 to €5,451
- Gross operating margin +€26,680
up €26,680 (+24.1%), from €110,642 to €137,322
- Taxes +€7,396
up €7,396 (+29.5%), from €25,062 to €32,458
- Financial charges +€2,139
up €2,139 (+221.4%), from €966 to €3,105
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 | €149,093 | €173,549 | +€24,456 | +16.4% |
| Fixed assets | 21/28 | €1,100 | €6,262 | +€5,162 | +469.2% |
| Tangible fixed assets | 22/27 | €1,100 | €6,262 | +€5,162 | +469.2% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,100 | €2,877 | +€1,777 | +161.6% |
| Other tangible fixed assets | 26 | €0 | €3,384 | +€3,384 | |
| Current assets | 29/58 | €147,993 | €167,287 | +€19,295 | +13.0% |
| Amounts receivable within one year | 40/41 | €77,689 | €83,302 | +€5,613 | +7.2% |
| Trade receivables | 40 | €77,689 | €69,300 | -€8,389 | -10.8% |
| Other amounts receivable | 41 | €0 | €14,002 | +€14,002 | |
| Current investments | 50/53 | - | €51,000 | +€51,000 | |
| Cash at bank and in hand | 54/58 | €68,455 | €29,846 | -€38,609 | -56.4% |
| Deferred charges and accrued income | 490/1 | €1,850 | €3,140 | +€1,291 | +69.8% |
| Total equity and liabilities | 10/49 | €149,093 | €173,549 | +€24,456 | +16.4% |
| Equity | 10/15 | €23,374 | €23,376 | +€2 | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €17,000 | €17,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,374 | €3,376 | +€2 | +0.1% |
| Amounts payable | 17/49 | €125,719 | €150,173 | +€24,454 | +19.5% |
| Amounts payable within one year | 42/48 | €115,649 | €144,722 | +€29,073 | +25.1% |
| Trade debts | 44 | €371 | €1,807 | +€1,435 | +386.5% |
| Suppliers | 440/4 | €371 | €1,807 | +€1,435 | +386.5% |
| Taxes, remuneration and social security | 45 | €33,155 | €23,536 | -€9,620 | -29.0% |
| Taxes | 450/3 | €33,155 | €23,536 | -€9,620 | -29.0% |
| Other amounts payable | 47/48 | €82,122 | €119,380 | +€37,257 | +45.4% |
| Accrued charges and deferred income | 492/3 | €10,070 | €5,451 | -€4,619 | -45.9% |
| Non-recurring operating income | 76A | €10,242 | €0 | -€10,242 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €579 | €1,192 | +€613 | +105.9% |
| Other operating charges | 640/8 | €1,210 | €898 | -€312 | -25.8% |
| Non-recurring operating charges | 66A | €5,907 | €0 | -€5,907 | -100.0% |
| Gross operating margin | 9900 | €110,642 | €137,322 | +€26,680 | +24.1% |
| Operating profit (loss) | 9901 | €102,946 | €135,232 | +€32,286 | +31.4% |
| Financial income | 75/76B | €229 | €334 | +€104 | +45.5% |
| Recurring financial income | 75 | €229 | €334 | +€104 | +45.5% |
| Financial charges | 65/66B | €966 | €3,105 | +€2,139 | +221.4% |
| Recurring financial charges | 65 | €966 | €3,105 | +€2,139 | +221.4% |
| Profit (loss) for the period before taxes | 9903 | €102,209 | €132,460 | +€30,251 | +29.6% |
| Income taxes | 67/77 | €25,062 | €32,458 | +€7,396 | +29.5% |
| Profit (loss) for the period | 9904 | €77,147 | €100,002 | +€22,855 | +29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €77,147 | €100,002 | +€22,855 | +29.6% |
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 12 October 2026 via checked.be.