Reno Project: 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 Project
Largest movements
- Tangible fixed assets +€49,872
new in 2025: €49,872
- Receivables within one year +€31,124
up €31,124 (+384.9%), from €8,087 to €39,211
of which Trade receivables: +€20,391
- Cash -€29,355
down €29,355 (-17.5%), from €168,172 to €138,817
mainly Investment in fixed assets (net) (-€51,950) and Contributions, distributions and other (-€50,700)
- Debts after one year +€22,321
new in 2025: €22,321
- Profit (loss) carried forward +€20,581
up €20,581 (+27.0%), from €76,351 to €96,932
- Contributions +€9,300
up €9,300 (+100.0%), from €9,300 to €18,600
- Tax, wage and social debts -€8,025
down €8,025 (-22.0%), from €36,536 to €28,511
- Current portion of long-term debt +€7,099
new in 2025: €7,099
- Gross operating margin -€4,787
down €4,787 (-4.3%), from €110,322 to €105,536
- Depreciation +€2,078
new in 2025: €2,078
- Taxes -€1,868
down €1,868 (-7.9%), from €23,689 to €21,821
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 | €177,095 | €228,736 | +€51,641 | +29.2% |
| Fixed assets | 21/28 | €150 | €50,022 | +€49,872 | +33248.0% |
| Tangible fixed assets | 22/27 | - | €49,872 | +€49,872 | |
| Furniture and vehicles | 24 | - | €49,872 | +€49,872 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €176,945 | €178,714 | +€1,769 | +1.0% |
| Stocks and contracts in progress | 3 | €686 | €686 | = | 0.0% |
| Stocks | 30/36 | €686 | €686 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,087 | €39,211 | +€31,124 | +384.9% |
| Trade receivables | 40 | €283 | €20,674 | +€20,391 | +7205.3% |
| Other amounts receivable | 41 | €7,804 | €18,537 | +€10,733 | +137.5% |
| Cash at bank and in hand | 54/58 | €168,172 | €138,817 | -€29,355 | -17.5% |
| Total equity and liabilities | 10/49 | €177,095 | €228,736 | +€51,641 | +29.2% |
| Equity | 10/15 | €87,511 | €117,392 | +€29,881 | +34.1% |
| Contributions | 10/11 | €9,300 | €18,600 | +€9,300 | +100.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,351 | €96,932 | +€20,581 | +27.0% |
| Amounts payable | 17/49 | €89,584 | €111,344 | +€21,760 | +24.3% |
| Amounts payable after more than one year | 17 | - | €22,321 | +€22,321 | |
| Financial debts | 170/4 | - | €22,321 | +€22,321 | |
| Amounts payable within one year | 42/48 | €89,584 | €89,023 | -€561 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | - | €7,099 | +€7,099 | |
| Trade debts | 44 | €3,040 | €9,678 | +€6,638 | +218.3% |
| Suppliers | 440/4 | €3,040 | €9,678 | +€6,638 | +218.3% |
| Taxes, remuneration and social security | 45 | €36,536 | €28,511 | -€8,025 | -22.0% |
| Taxes | 450/3 | €36,536 | €28,511 | -€8,025 | -22.0% |
| Other amounts payable | 47/48 | €50,007 | €43,736 | -€6,272 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,078 | +€2,078 | |
| Other operating charges | 640/8 | €898 | €643 | -€254 | -28.3% |
| Gross operating margin | 9900 | €110,322 | €105,536 | -€4,787 | -4.3% |
| Operating profit (loss) | 9901 | €109,424 | €102,814 | -€6,610 | -6.0% |
| Financial income | 75/76B | €419 | €4 | -€415 | -99.2% |
| Recurring financial income | 75 | €419 | €4 | -€415 | -99.2% |
| Financial charges | 65/66B | €197 | €416 | +€219 | +111.0% |
| Recurring financial charges | 65 | €197 | €416 | +€219 | +111.0% |
| Profit (loss) for the period before taxes | 9903 | €109,646 | €102,402 | -€7,244 | -6.6% |
| Income taxes | 67/77 | €23,689 | €21,821 | -€1,868 | -7.9% |
| Profit (loss) for the period | 9904 | €85,957 | €80,581 | -€5,376 | -6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €85,957 | €80,581 | -€5,376 | -6.3% |
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.