RENOSTATE: what changed
RENOSTATE
Largest movements
- Stocks and contracts +€36,968
up €36,968 (+23.2%), from €159,054 to €196,022
- Receivables within one year -€26,615
down €26,615 (-59.2%), from €44,968 to €18,353
of which Trade receivables: -€26,615
- Cash -€7,502
down €7,502 (-48.1%), from €15,599 to €8,097
mainly Stocks and contracts (-€36,968) and Tax, wage and social debts (-€10,264)
- Tax, wage and social debts -€10,264
down €10,264 (-80.2%), from €12,803 to €2,540
of which Taxes: -€8,669
- Accrued charges and deferred income +€7,250
new in 2025: €7,250
- Trade debts +€3,589
up €3,589 (+87.3%), from €4,113 to €7,702
- Gross operating margin +€12,417
up €12,417 (+128%), from €9,683 to €22,100
- Financial charges +€7,155
up €7,155 (+7,400%), from €97 to €7,252
- Staff costs +€4,890
up €4,890 (+91.9%), from €5,322 to €10,212
- Depreciation -€350
down €350 (-6.4%), from €5,447 to €5,097
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €231,114 | €231,691 | +€577 | +0.2% |
| Fixed assets | 21/28 | €11,493 | €9,219 | -€2,274 | -19.8% |
| Tangible fixed assets | 22/27 | €11,493 | €9,219 | -€2,274 | -19.8% |
| Furniture and vehicles | 24 | €11,493 | €6,417 | -€5,076 | -44.2% |
| Other tangible fixed assets | 26 | - | €2,802 | +€2,802 | |
| Current assets | 29/58 | €219,622 | €222,472 | +€2,851 | +1.3% |
| Stocks and contracts in progress | 3 | €159,054 | €196,022 | +€36,968 | +23.2% |
| Stocks | 30/36 | €159,054 | €196,022 | +€36,968 | +23.2% |
| Amounts receivable within one year | 40/41 | €44,968 | €18,353 | -€26,615 | -59.2% |
| Trade receivables | 40 | €42,222 | €15,606 | -€26,615 | -63.0% |
| Other amounts receivable | 41 | €2,746 | €2,746 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,599 | €8,097 | -€7,502 | -48.1% |
| Total equity and liabilities | 10/49 | €231,114 | €231,691 | +€577 | +0.2% |
| Equity | 10/15 | €69,198 | €67,480 | -€1,718 | -2.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €61,766 | €61,766 | = | 0.0% |
| Distributable reserves | 133 | €61,766 | €61,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,568 | -€4,286 | -€1,718 | -66.9% |
| Amounts payable | 17/49 | €161,916 | €164,211 | +€2,295 | +1.4% |
| Amounts payable after more than one year | 17 | €145,000 | €145,000 | = | 0.0% |
| Other amounts payable | 178/9 | €145,000 | €145,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €16,916 | €11,961 | -€4,955 | -29.3% |
| Trade debts | 44 | €4,113 | €7,702 | +€3,589 | +87.3% |
| Suppliers | 440/4 | €4,113 | €7,702 | +€3,589 | +87.3% |
| Taxes, remuneration and social security | 45 | €12,803 | €2,540 | -€10,264 | -80.2% |
| Taxes | 450/3 | €11,209 | €2,540 | -€8,669 | -77.3% |
| Remuneration and social security | 454/9 | €1,595 | - | -€1,595 | |
| Other amounts payable | 47/48 | - | €1,720 | +€1,720 | |
| Accrued charges and deferred income | 492/3 | - | €7,250 | +€7,250 | |
| Remuneration, social security and pensions | 62 | €5,322 | €10,212 | +€4,890 | +91.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,447 | €5,097 | -€350 | -6.4% |
| Other operating charges | 640/8 | €1,385 | €1,170 | -€214 | -15.5% |
| Gross operating margin | 9900 | €9,683 | €22,100 | +€12,417 | +128% |
| Operating profit (loss) | 9901 | -€2,471 | €5,620 | +€8,091 | |
| Financial income | 75/76B | €0 | €17 | +€17 | +21,313% |
| Recurring financial income | 75 | €0 | €17 | +€17 | +21,313% |
| Financial charges | 65/66B | €97 | €7,252 | +€7,155 | +7,400% |
| Recurring financial charges | 65 | €97 | €7,252 | +€7,155 | +7,400% |
| Profit (loss) for the period before taxes | 9903 | -€2,568 | -€1,615 | +€953 | +37.1% |
| Income taxes | 67/77 | - | €103 | +€103 | |
| Profit (loss) for the period | 9904 | -€2,568 | -€1,718 | +€849 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,568 | -€1,718 | +€849 | +33.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.