RENO GEORGES: 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 GEORGES
Largest movements
- Receivables within one year +€30,940
up €30,940 (+102%), from €30,277 to €61,217
of which Trade receivables: +€29,535
- Tangible fixed assets +€17,840
up €17,840 (+164%), from €10,894 to €28,733
of which Furniture and vehicles: +€15,401
- Deferred charges and accrued income -€13,438
down €13,438 (-88.2%), from €15,229 to €1,791
- Stocks and contracts -€10,000
down €10,000 (-35.7%), from €28,000 to €18,000
- Cash +€5,155
up €5,155 (+21.1%), from €24,460 to €29,614
mainly Trade debts (+€13,637) and Deferred charges and accrued income (+€13,438)
- Trade debts +€13,637
up €13,637 (+585%), from €2,330 to €15,967
- Current portion of long-term debt +€11,235
up €11,235 (+1,043%), from €1,078 to €12,313
- Tax, wage and social debts +€7,102
up €7,102 (+233%), from €3,045 to €10,147
of which Taxes: +€7,565
- Profit (loss) carried forward -€1,450
down €1,450 (-2.1%), from €70,738 to €69,287
- Gross operating margin -€34,086
down €34,086 (-76.4%), from €44,600 to €10,513
- Staff costs -€27,373
down €27,373, from €26,102 to -€1,271
- Financial income +€871
up €871 (+97.1%), from €896 to €1,767
- Taxes +€632
up €632 (+53.2%), from €1,188 to €1,820
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 | €108,859 | €139,355 | +€30,496 | +28.0% |
| Fixed assets | 21/28 | €10,894 | €28,733 | +€17,840 | +164% |
| Tangible fixed assets | 22/27 | €10,894 | €28,733 | +€17,840 | +164% |
| Plant, machinery and equipment | 23 | €1,566 | €4,004 | +€2,438 | +156% |
| Furniture and vehicles | 24 | €9,328 | €24,729 | +€15,401 | +165% |
| Current assets | 29/58 | €97,966 | €110,622 | +€12,656 | +12.9% |
| Stocks and contracts in progress | 3 | €28,000 | €18,000 | -€10,000 | -35.7% |
| Stocks | 30/36 | €28,000 | €18,000 | -€10,000 | -35.7% |
| Amounts receivable within one year | 40/41 | €30,277 | €61,217 | +€30,940 | +102% |
| Trade receivables | 40 | €9,877 | €39,412 | +€29,535 | +299% |
| Other amounts receivable | 41 | €20,400 | €21,805 | +€1,405 | +6.9% |
| Cash at bank and in hand | 54/58 | €24,460 | €29,614 | +€5,155 | +21.1% |
| Deferred charges and accrued income | 490/1 | €15,229 | €1,791 | -€13,438 | -88.2% |
| Total equity and liabilities | 10/49 | €108,859 | €139,355 | +€30,496 | +28.0% |
| Equity | 10/15 | €102,379 | €100,929 | -€1,450 | -1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €25,441 | €25,441 | = | 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 | €23,581 | €23,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,738 | €69,287 | -€1,450 | -2.1% |
| Amounts payable | 17/49 | €6,480 | €38,426 | +€31,946 | +493% |
| Amounts payable within one year | 42/48 | €6,452 | €38,426 | +€31,974 | +496% |
| Current portion of amounts payable after more than one year | 42 | €1,078 | €12,313 | +€11,235 | +1,043% |
| Trade debts | 44 | €2,330 | €15,967 | +€13,637 | +585% |
| Suppliers | 440/4 | €2,330 | €15,967 | +€13,637 | +585% |
| Taxes, remuneration and social security | 45 | €3,045 | €10,147 | +€7,102 | +233% |
| Taxes | 450/3 | €1,188 | €8,753 | +€7,565 | +637% |
| Remuneration and social security | 454/9 | €1,857 | €1,394 | -€463 | -24.9% |
| Accrued charges and deferred income | 492/3 | €28 | - | -€28 | |
| Remuneration, social security and pensions | 62 | €26,102 | -€1,271 | -€27,373 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,897 | €4,301 | +€405 | +10.4% |
| Other operating charges | 640/8 | €416 | €734 | +€318 | +76.3% |
| Non-recurring operating charges | 66A | €63 | €768 | +€705 | +1,118% |
| Gross operating margin | 9900 | €44,600 | €10,513 | -€34,086 | -76.4% |
| Operating profit (loss) | 9901 | €14,122 | €5,980 | -€8,141 | -57.7% |
| Financial income | 75/76B | €896 | €1,767 | +€871 | +97.1% |
| Recurring financial income | 75 | €896 | €1,767 | +€871 | +97.1% |
| Financial charges | 65/66B | €3,123 | €2,990 | -€133 | -4.3% |
| Recurring financial charges | 65 | €3,123 | €2,990 | -€133 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €11,895 | €4,758 | -€7,137 | -60.0% |
| Income taxes | 67/77 | €1,188 | €1,820 | +€632 | +53.2% |
| Profit (loss) for the period | 9904 | €10,707 | €2,938 | -€7,769 | -72.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,707 | €2,938 | -€7,769 | -72.6% |
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 23 October 2026 via checked.be.