RENIERS: 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.
RENIERS
Largest movements
- Cash +€54,051
up €54,051 (+228%), from €23,755 to €77,806
mainly Stocks and contracts (+€25,141) and Trade debts (+€24,426)
- Stocks and contracts -€25,141
down €25,141 (-7.0%), from €356,754 to €331,613
- Receivables within one year +€18,130
up €18,130 (+17.9%), from €101,299 to €119,429
of which Trade receivables: +€10,248
- Tangible fixed assets -€11,806
down €11,806 (-5.4%), from €218,450 to €206,644
of which Land and buildings: -€15,915
- Trade debts +€24,426
up €24,426 (+341%), from €7,165 to €31,591
- Reserves +€14,297
up €14,297 (+6.0%), from €237,710 to €252,008
- Gross operating margin +€47,689
up €47,689 (+35.7%), from €133,607 to €181,296
- Staff costs +€4,802
up €4,802 (+3.5%), from €137,963 to €142,765
- Financial charges +€3,525
up €3,525 (+104%), from €3,391 to €6,916
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 | €700,258 | €735,492 | +€35,234 | +5.0% |
| Fixed assets | 21/28 | €218,450 | €206,644 | -€11,806 | -5.4% |
| Tangible fixed assets | 22/27 | €218,450 | €206,644 | -€11,806 | -5.4% |
| Land and buildings | 22 | €211,888 | €195,973 | -€15,915 | -7.5% |
| Plant, machinery and equipment | 23 | €3,628 | €8,844 | +€5,216 | +144% |
| Furniture and vehicles | 24 | €2,934 | €1,828 | -€1,107 | -37.7% |
| Current assets | 29/58 | €481,808 | €528,847 | +€47,039 | +9.8% |
| Stocks and contracts in progress | 3 | €356,754 | €331,613 | -€25,141 | -7.0% |
| Stocks | 30/36 | €356,754 | €331,613 | -€25,141 | -7.0% |
| Amounts receivable within one year | 40/41 | €101,299 | €119,429 | +€18,130 | +17.9% |
| Trade receivables | 40 | €1,002 | €11,250 | +€10,248 | +1,023% |
| Other amounts receivable | 41 | €100,297 | €108,179 | +€7,882 | +7.9% |
| Cash at bank and in hand | 54/58 | €23,755 | €77,806 | +€54,051 | +228% |
| Total equity and liabilities | 10/49 | €700,258 | €735,492 | +€35,234 | +5.0% |
| Equity | 10/15 | €670,316 | €684,613 | +€14,297 | +2.1% |
| Contributions | 10/11 | €309,123 | €309,123 | = | 0.0% |
| Reserves | 13 | €237,710 | €252,008 | +€14,297 | +6.0% |
| Distributable reserves | 133 | €237,710 | €252,008 | +€14,297 | +6.0% |
| Profit (loss) carried forward | 14 | €123,482 | €123,482 | = | 0.0% |
| Amounts payable | 17/49 | €29,942 | €50,878 | +€20,936 | +69.9% |
| Amounts payable within one year | 42/48 | €29,942 | €50,878 | +€20,936 | +69.9% |
| Trade debts | 44 | €7,165 | €31,591 | +€24,426 | +341% |
| Suppliers | 440/4 | €7,165 | €31,591 | +€24,426 | +341% |
| Taxes, remuneration and social security | 45 | €22,777 | €19,287 | -€3,490 | -15.3% |
| Taxes | 450/3 | €9,934 | €8,776 | -€1,159 | -11.7% |
| Remuneration and social security | 454/9 | €12,843 | €10,512 | -€2,331 | -18.2% |
| Remuneration, social security and pensions | 62 | €137,963 | €142,765 | +€4,802 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,928 | €18,152 | +€223 | +1.2% |
| Other operating charges | 640/8 | €5,011 | €3,341 | -€1,669 | -33.3% |
| Gross operating margin | 9900 | €133,607 | €181,296 | +€47,689 | +35.7% |
| Operating profit (loss) | 9901 | -€27,295 | €17,038 | +€44,333 | |
| Financial income | 75/76B | €5,754 | €5,649 | -€105 | -1.8% |
| Recurring financial income | 75 | €5,754 | €5,649 | -€105 | -1.8% |
| Financial charges | 65/66B | €3,391 | €6,916 | +€3,525 | +104% |
| Recurring financial charges | 65 | €3,391 | €6,916 | +€3,525 | +104% |
| Profit (loss) for the period before taxes | 9903 | -€24,932 | €15,771 | +€40,703 | |
| Income taxes | 67/77 | €749 | €1,473 | +€725 | +96.8% |
| Profit (loss) for the period | 9904 | -€25,681 | €14,297 | +€39,978 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,681 | €14,297 | +€39,978 |
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 26 October 2026 via checked.be.