RENISAN: 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.
RENISAN
Largest movements
- Tangible fixed assets +€53,099
up €53,099 (+614%), from €8,654 to €61,753
of which Leasing and similar rights: +€53,647
- Cash +€15,655
up €15,655 (+665%), from €2,356 to €18,011
mainly Debts after one year (+€42,317) and Net result for the year (+€24,901)
- Debts after one year +€42,317
new in 2025: €42,317
- Reserves +€19,901
up €19,901 (+40.9%), from €48,665 to €68,565
- Current portion of long-term debt +€10,778
new in 2025: €10,778
- Tax, wage and social debts -€9,672
down €9,672 (-71.5%), from €13,530 to €3,858
- Other debts +€5,000
new in 2025: €5,000
- Gross operating margin +€20,386
up €20,386 (+109%), from €18,702 to €39,089
- Taxes +€6,350
up €6,350 (+117%), from €5,432 to €11,782
- Depreciation +€2,375
up €2,375 (+123%), from €1,929 to €4,304
- Other operating charges +€1,971
up €1,971 (+566%), from €348 to €2,319
- Financial income +€1,457
up €1,457 (+41.1%), from €3,546 to €5,004
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 | €101,390 | €170,336 | +€68,946 | +68.0% |
| Fixed assets | 21/28 | €8,654 | €61,753 | +€53,099 | +614% |
| Tangible fixed assets | 22/27 | €8,654 | €61,753 | +€53,099 | +614% |
| Plant, machinery and equipment | 23 | €3,101 | €1,920 | -€1,181 | -38.1% |
| Furniture and vehicles | 24 | €5,553 | €3,664 | -€1,889 | -34.0% |
| Leasing and similar rights | 25 | - | €53,647 | +€53,647 | |
| Other tangible fixed assets | 26 | - | €2,522 | +€2,522 | |
| Current assets | 29/58 | €92,737 | €108,583 | +€15,847 | +17.1% |
| Stocks and contracts in progress | 3 | €3,880 | €3,426 | -€454 | -11.7% |
| Stocks | 30/36 | €3,880 | €3,426 | -€454 | -11.7% |
| Amounts receivable within one year | 40/41 | €85,565 | €86,812 | +€1,247 | +1.5% |
| Trade receivables | 40 | €14,496 | €4,480 | -€10,016 | -69.1% |
| Other amounts receivable | 41 | €71,069 | €82,332 | +€11,263 | +15.8% |
| Cash at bank and in hand | 54/58 | €2,356 | €18,011 | +€15,655 | +665% |
| Deferred charges and accrued income | 490/1 | €936 | €334 | -€601 | -64.3% |
| Total equity and liabilities | 10/49 | €101,390 | €170,336 | +€68,946 | +68.0% |
| Equity | 10/15 | €67,265 | €87,165 | +€19,901 | +29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,665 | €68,565 | +€19,901 | +40.9% |
| Distributable reserves | 133 | €48,665 | €68,565 | +€19,901 | +40.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €34,126 | €83,171 | +€49,045 | +144% |
| Amounts payable after more than one year | 17 | - | €42,317 | +€42,317 | |
| Financial debts | 170/4 | - | €42,317 | +€42,317 | |
| Amounts payable within one year | 42/48 | €34,126 | €40,854 | +€6,729 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | - | €10,778 | +€10,778 | |
| Trade debts | 44 | €20,596 | €21,218 | +€623 | +3.0% |
| Suppliers | 440/4 | €20,596 | €21,218 | +€623 | +3.0% |
| Taxes, remuneration and social security | 45 | €13,530 | €3,858 | -€9,672 | -71.5% |
| Taxes | 450/3 | €13,530 | €3,858 | -€9,672 | -71.5% |
| Other amounts payable | 47/48 | - | €5,000 | +€5,000 | |
| Non-recurring operating income | 76A | - | €5,578 | +€5,578 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,929 | €4,304 | +€2,375 | +123% |
| Other operating charges | 640/8 | €348 | €2,319 | +€1,971 | +566% |
| Gross operating margin | 9900 | €18,702 | €39,089 | +€20,386 | +109% |
| Operating profit (loss) | 9901 | €16,425 | €32,466 | +€16,041 | +97.7% |
| Financial income | 75/76B | €3,546 | €5,004 | +€1,457 | +41.1% |
| Recurring financial income | 75 | €3,546 | €5,004 | +€1,457 | +41.1% |
| Financial charges | 65/66B | €407 | €787 | +€380 | +93.4% |
| Recurring financial charges | 65 | €407 | €787 | +€380 | +93.4% |
| Profit (loss) for the period before taxes | 9903 | €19,565 | €36,683 | +€17,118 | +87.5% |
| Income taxes | 67/77 | €5,432 | €11,782 | +€6,350 | +117% |
| Profit (loss) for the period | 9904 | €14,133 | €24,901 | +€10,768 | +76.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,133 | €24,901 | +€10,768 | +76.2% |
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 19 October 2026 via checked.be.