RENO DELTA: 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.
RENO DELTA
Largest movements
- Tangible fixed assets -€12,226
down €12,226 (-9.2%), from €132,416 to €120,189
of which Plant, machinery and equipment: -€7,963
- Receivables within one year -€12,105
no longer reported in 2025 (was €12,105)
of which Trade receivables: -€11,696
- Short-term financial debts +€50,135
up €50,135 (+864%), from €5,804 to €55,939
of which Other loans: +€46,462
- Debts after one year -€46,462
no longer reported in 2025 (was €46,462)
- Profit (loss) carried forward -€14,402
down €14,402, from €5,075 to -€9,327
- Trade debts -€10,335
no longer reported in 2025 (was €10,335)
of which Bills of exchange payable: -€9,710
- Current portion of long-term debt -€6,362
no longer reported in 2025 (was €6,362)
- Gross operating margin -€11,003
down €11,003 (-94.8%), from €11,610 to €607
- Other operating charges -€304
down €304 (-76.1%), from €400 to €95
- Financial charges -€126
down €126 (-4.5%), from €2,813 to €2,687
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €144,521 | €120,294 | -€24,226 | -16.8% |
| Fixed assets | 21/28 | €132,416 | €120,189 | -€12,226 | -9.2% |
| Tangible fixed assets | 22/27 | €132,416 | €120,189 | -€12,226 | -9.2% |
| Land and buildings | 22 | €81,433 | €77,170 | -€4,263 | -5.2% |
| Plant, machinery and equipment | 23 | €50,983 | €43,020 | -€7,963 | -15.6% |
| Current assets | 29/58 | €12,105 | €105 | -€12,000 | -99.1% |
| Amounts receivable within one year | 40/41 | €12,105 | - | -€12,105 | |
| Trade receivables | 40 | €11,696 | - | -€11,696 | |
| Other amounts receivable | 41 | €409 | - | -€409 | |
| Deferred charges and accrued income | 490/1 | - | €105 | +€105 | |
| Total equity and liabilities | 10/49 | €144,521 | €120,294 | -€24,226 | -16.8% |
| Equity | 10/15 | €26,131 | €11,729 | -€14,402 | -55.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,857 | €14,857 | = | 0.0% |
| 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 | €12,997 | €12,997 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,075 | -€9,327 | -€14,402 | |
| Amounts payable | 17/49 | €118,389 | €108,565 | -€9,824 | -8.3% |
| Amounts payable after more than one year | 17 | €46,462 | - | -€46,462 | |
| Financial debts | 170/4 | €46,462 | - | -€46,462 | |
| Amounts payable within one year | 42/48 | €71,927 | €108,565 | +€36,637 | +50.9% |
| Current portion of amounts payable after more than one year | 42 | €6,362 | - | -€6,362 | |
| Financial debts | 43 | €5,804 | €55,939 | +€50,135 | +864% |
| Credit institutions | 430/8 | €5,804 | €9,477 | +€3,673 | +63.3% |
| Other loans | 439 | - | €46,462 | +€46,462 | |
| Trade debts | 44 | €10,335 | - | -€10,335 | |
| Suppliers | 440/4 | €625 | - | -€625 | |
| Bills of exchange payable | 441 | €9,710 | - | -€9,710 | |
| Taxes, remuneration and social security | 45 | €277 | €154 | -€123 | -44.5% |
| Taxes | 450/3 | €277 | €154 | -€123 | -44.5% |
| Other amounts payable | 47/48 | €49,150 | €52,472 | +€3,322 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,226 | €12,226 | = | 0.0% |
| Other operating charges | 640/8 | €400 | €95 | -€304 | -76.1% |
| Gross operating margin | 9900 | €11,610 | €607 | -€11,003 | -94.8% |
| Operating profit (loss) | 9901 | -€1,016 | -€11,715 | -€10,698 | -1,053% |
| Financial charges | 65/66B | €2,813 | €2,687 | -€126 | -4.5% |
| Recurring financial charges | 65 | €2,813 | €2,687 | -€126 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,830 | -€14,402 | -€10,572 | -276% |
| Profit (loss) for the period | 9904 | -€3,830 | -€14,402 | -€10,572 | -276% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,830 | -€14,402 | -€10,572 | -276% |
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 25 October 2026 via checked.be.