Reno-Spec: 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-Spec
Largest movements
- Stocks and contracts -€18,420
down €18,420 (-14.5%), from €127,230 to €108,810
- Tangible fixed assets -€5,822
down €5,822 (-13.6%), from €42,725 to €36,902
- Trade debts -€40,240
down €40,240 (-41.7%), from €96,598 to €56,358
- Reserves +€29,151
up €29,151 (+16.9%), from €171,988 to €201,140
of which Distributable reserves: +€29,151
- Advances received -€22,332
no longer reported in 2025 (was €22,332)
- Tax, wage and social debts +€10,137
up €10,137 (+16.5%), from €61,262 to €71,399
- Staff costs -€10,045
down €10,045 (-95.0%), from €10,570 to €525
- Taxes -€7,731
down €7,731 (-90.0%), from €8,590 to €859
- Other operating charges -€5,711
down €5,711 (-49.3%), from €11,587 to €5,876
- Gross operating margin -€3,386
down €3,386 (-6.5%), from €52,196 to €48,810
- Financial charges -€2,308
down €2,308 (-41.4%), from €5,581 to €3,273
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 | €370,730 | €347,446 | -€23,284 | -6.3% |
| Fixed assets | 21/28 | €42,725 | €36,902 | -€5,822 | -13.6% |
| Tangible fixed assets | 22/27 | €42,725 | €36,902 | -€5,822 | -13.6% |
| Plant, machinery and equipment | 23 | €5,611 | €3,547 | -€2,064 | -36.8% |
| Furniture and vehicles | 24 | €11,591 | €8,840 | -€2,751 | -23.7% |
| Other tangible fixed assets | 26 | €25,523 | €24,516 | -€1,007 | -3.9% |
| Current assets | 29/58 | €328,005 | €310,544 | -€17,462 | -5.3% |
| Stocks and contracts in progress | 3 | €127,230 | €108,810 | -€18,420 | -14.5% |
| Stocks | 30/36 | €127,230 | €108,810 | -€18,420 | -14.5% |
| Amounts receivable within one year | 40/41 | €199,272 | €198,811 | -€461 | -0.2% |
| Trade receivables | 40 | €12,055 | €7,775 | -€4,280 | -35.5% |
| Other amounts receivable | 41 | €187,217 | €191,036 | +€3,819 | +2.0% |
| Cash at bank and in hand | 54/58 | €1,504 | €2,923 | +€1,419 | +94.4% |
| Total equity and liabilities | 10/49 | €370,730 | €347,446 | -€23,284 | -6.3% |
| Equity | 10/15 | €190,538 | €219,690 | +€29,151 | +15.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €171,988 | €201,140 | +€29,151 | +16.9% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €170,133 | €199,285 | +€29,151 | +17.1% |
| Amounts payable | 17/49 | €180,191 | €127,757 | -€52,435 | -29.1% |
| Amounts payable within one year | 42/48 | €180,191 | €127,757 | -€52,435 | -29.1% |
| Trade debts | 44 | €96,598 | €56,358 | -€40,240 | -41.7% |
| Suppliers | 440/4 | €96,598 | €56,358 | -€40,240 | -41.7% |
| Advances received on contracts in progress | 46 | €22,332 | - | -€22,332 | |
| Taxes, remuneration and social security | 45 | €61,262 | €71,399 | +€10,137 | +16.5% |
| Taxes | 450/3 | €61,262 | €71,399 | +€10,137 | +16.5% |
| Remuneration, social security and pensions | 62 | €10,570 | €525 | -€10,045 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,653 | €8,420 | +€1,767 | +26.6% |
| Other operating charges | 640/8 | €11,587 | €5,876 | -€5,711 | -49.3% |
| Non-recurring operating charges | 66A | - | €7,848 | +€7,848 | |
| Gross operating margin | 9900 | €52,196 | €48,810 | -€3,386 | -6.5% |
| Operating profit (loss) | 9901 | €23,385 | €26,141 | +€2,756 | +11.8% |
| Financial income | 75/76B | €7,023 | €7,142 | +€120 | +1.7% |
| Recurring financial income | 75 | €7,023 | €7,142 | +€120 | +1.7% |
| Financial charges | 65/66B | €5,581 | €3,273 | -€2,308 | -41.4% |
| Recurring financial charges | 65 | €5,581 | €3,273 | -€2,308 | -41.4% |
| Profit (loss) for the period before taxes | 9903 | €24,827 | €30,010 | +€5,183 | +20.9% |
| Income taxes | 67/77 | €8,590 | €859 | -€7,731 | -90.0% |
| Profit (loss) for the period | 9904 | €16,237 | €29,151 | +€12,914 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,237 | €29,151 | +€12,914 | +79.5% |
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 11 October 2026 via checked.be.