RENOREX: what changed
Two fiscal 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.
RENOREX
Largest movements
- Receivables within one year +€22,571
up €22,571 (+163.5%), from €13,804 to €36,375
of which Trade receivables: +€23,466
- Tangible fixed assets +€20,509
up €20,509 (+94.4%), from €21,729 to €42,238
of which Furniture and vehicles: +€21,400
- Cash +€14,688
up €14,688 (+3.9%), from €380,606 to €395,293
mainly Net result for the year (+€67,092) and Accrued charges and deferred income (+€21,609)
- Profit (loss) carried forward +€67,092
up €67,092 (+29.4%), from €228,103 to €295,196
- Other debts -€32,616
down €32,616 (-36.7%), from €88,948 to €56,332
- Accrued charges and deferred income +€21,609
up €21,609 (+139415.2%), from €16 to €21,625
- Tax, wage and social debts +€10,805
up €10,805 (+21.4%), from €50,371 to €61,176
of which Taxes: +€14,966
- Current portion of long-term debt -€5,144
no longer reported in 2025 (was €5,144)
- Gross operating margin -€35,992
down €35,992 (-30.9%), from €116,545 to €80,553
- Financial income +€24,165
up €24,165 (+894.6%), from €2,701 to €26,866
of which Non-recurring financial income: +€24,173
- Staff costs -€13,025
down €13,025 (-98.8%), from €13,184 to €159
- Depreciation -€3,644
down €3,644 (-26.2%), from €13,895 to €10,250
- Other operating charges -€3,221
down €3,221 (-43.6%), from €7,390 to €4,169
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 | €418,380 | €478,455 | +€60,075 | +14.4% |
| Fixed assets | 21/28 | €21,729 | €44,788 | +€23,059 | +106.1% |
| Tangible fixed assets | 22/27 | €21,729 | €42,238 | +€20,509 | +94.4% |
| Plant, machinery and equipment | 23 | €12,116 | €11,225 | -€891 | -7.4% |
| Furniture and vehicles | 24 | €9,613 | €31,013 | +€21,400 | +222.6% |
| Financial fixed assets | 28 | - | €2,550 | +€2,550 | |
| Current assets | 29/58 | €396,651 | €433,666 | +€37,016 | +9.3% |
| Stocks and contracts in progress | 3 | €2,241 | €1,997 | -€244 | -10.9% |
| Stocks | 30/36 | €2,241 | €1,997 | -€244 | -10.9% |
| Amounts receivable within one year | 40/41 | €13,804 | €36,375 | +€22,571 | +163.5% |
| Trade receivables | 40 | €5,942 | €29,407 | +€23,466 | +394.9% |
| Other amounts receivable | 41 | €7,862 | €6,968 | -€894 | -11.4% |
| Cash at bank and in hand | 54/58 | €380,606 | €395,293 | +€14,688 | +3.9% |
| Total equity and liabilities | 10/49 | €418,380 | €478,455 | +€60,075 | +14.4% |
| Equity | 10/15 | €248,103 | €315,196 | +€67,092 | +27.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,103 | €295,196 | +€67,092 | +29.4% |
| Amounts payable | 17/49 | €170,276 | €163,259 | -€7,018 | -4.1% |
| Amounts payable within one year | 42/48 | €170,261 | €141,634 | -€28,627 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €5,144 | - | -€5,144 | |
| Trade debts | 44 | €25,798 | €24,126 | -€1,672 | -6.5% |
| Suppliers | 440/4 | €25,798 | €24,126 | -€1,672 | -6.5% |
| Taxes, remuneration and social security | 45 | €50,371 | €61,176 | +€10,805 | +21.4% |
| Taxes | 450/3 | €36,846 | €51,813 | +€14,966 | +40.6% |
| Remuneration and social security | 454/9 | €13,525 | €9,363 | -€4,162 | -30.8% |
| Other amounts payable | 47/48 | €88,948 | €56,332 | -€32,616 | -36.7% |
| Accrued charges and deferred income | 492/3 | €16 | €21,625 | +€21,609 | +139415.2% |
| Remuneration, social security and pensions | 62 | €13,184 | €159 | -€13,025 | -98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,895 | €10,250 | -€3,644 | -26.2% |
| Other operating charges | 640/8 | €7,390 | €4,169 | -€3,221 | -43.6% |
| Gross operating margin | 9900 | €116,545 | €80,553 | -€35,992 | -30.9% |
| Operating profit (loss) | 9901 | €82,076 | €65,975 | -€16,101 | -19.6% |
| Financial income | 75/76B | €2,701 | €26,866 | +€24,165 | +894.6% |
| Recurring financial income | 75 | €14 | €6 | -€8 | -55.6% |
| Non-recurring financial income | 76B | €2,687 | €26,860 | +€24,173 | +899.6% |
| Financial charges | 65/66B | €676 | €444 | -€232 | -34.3% |
| Recurring financial charges | 65 | €676 | €444 | -€232 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €84,102 | €92,397 | +€8,295 | +9.9% |
| Income taxes | 67/77 | €25,285 | €25,304 | +€19 | +0.1% |
| Profit (loss) for the period | 9904 | €58,817 | €67,092 | +€8,276 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,817 | €67,092 | +€8,276 | +14.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.