RENSKES: 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.
RENSKES
Largest movements
- Cash +€62,769
up €62,769 (+37.5%), from €167,189 to €229,957
mainly Depreciation (+€353,465) and Net result for the year (+€309,042)
- Reserves +€209,042
up €209,042 (+25.8%), from €809,647 to €1.0m
- Trade debts -€122,966
down €122,966 (-50.0%), from €245,749 to €122,783
- Debts after one year -€46,287
down €46,287 (-21.4%), from €215,906 to €169,619
- Short-term financial debts +€41,667
up €41,667 (+50.0%), from €83,333 to €125,000
- Current portion of long-term debt -€35,763
down €35,763 (-21.8%), from €163,994 to €128,231
- Gross operating margin +€199,722
up €199,722 (+21.3%), from €937,727 to €1.1m
- Depreciation +€75,675
up €75,675 (+27.2%), from €277,791 to €353,465
- Staff costs +€63,747
up €63,747 (+27.0%), from €236,028 to €299,774
- Other operating charges +€53,880
up €53,880 (+599%), from €9,001 to €62,881
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 | €1,681,617 | €1,757,101 | +€75,484 | +4.5% |
| Fixed assets | 21/28 | €815,106 | €823,841 | +€8,734 | +1.1% |
| Tangible fixed assets | 22/27 | €815,106 | €823,841 | +€8,734 | +1.1% |
| Plant, machinery and equipment | 23 | €205,316 | €278,197 | +€72,881 | +35.5% |
| Furniture and vehicles | 24 | €445,350 | €545,644 | +€100,293 | +22.5% |
| Leasing and similar rights | 25 | €33,740 | €0 | -€33,740 | -100% |
| Assets under construction and advance payments | 27 | €130,700 | €0 | -€130,700 | -100% |
| Current assets | 29/58 | €866,511 | €933,260 | +€66,750 | +7.7% |
| Amounts receivable within one year | 40/41 | €692,174 | €693,783 | +€1,610 | +0.2% |
| Trade receivables | 40 | €236,536 | €219,933 | -€16,603 | -7.0% |
| Other amounts receivable | 41 | €455,638 | €473,851 | +€18,213 | +4.0% |
| Cash at bank and in hand | 54/58 | €167,189 | €229,957 | +€62,769 | +37.5% |
| Deferred charges and accrued income | 490/1 | €7,149 | €9,520 | +€2,371 | +33.2% |
| Total equity and liabilities | 10/49 | €1,681,617 | €1,757,101 | +€75,484 | +4.5% |
| Equity | 10/15 | €828,247 | €1,037,290 | +€209,042 | +25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €809,647 | €1,018,690 | +€209,042 | +25.8% |
| Distributable reserves | 133 | €809,647 | €1,018,690 | +€209,042 | +25.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €853,370 | €719,812 | -€133,558 | -15.7% |
| Amounts payable after more than one year | 17 | €215,906 | €169,619 | -€46,287 | -21.4% |
| Financial debts | 170/4 | €215,906 | €169,619 | -€46,287 | -21.4% |
| Amounts payable within one year | 42/48 | €637,464 | €550,192 | -€87,271 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €163,994 | €128,231 | -€35,763 | -21.8% |
| Financial debts | 43 | €83,333 | €125,000 | +€41,667 | +50.0% |
| Credit institutions | 430/8 | €83,333 | €125,000 | +€41,667 | +50.0% |
| Trade debts | 44 | €245,749 | €122,783 | -€122,966 | -50.0% |
| Suppliers | 440/4 | €245,749 | €122,783 | -€122,966 | -50.0% |
| Taxes, remuneration and social security | 45 | €54,004 | €65,766 | +€11,762 | +21.8% |
| Taxes | 450/3 | €19,226 | €11,764 | -€7,462 | -38.8% |
| Remuneration and social security | 454/9 | €34,778 | €54,002 | +€19,224 | +55.3% |
| Other amounts payable | 47/48 | €90,384 | €108,412 | +€18,028 | +19.9% |
| Remuneration, social security and pensions | 62 | €236,028 | €299,774 | +€63,747 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €277,791 | €353,465 | +€75,675 | +27.2% |
| Other operating charges | 640/8 | €9,001 | €62,881 | +€53,880 | +599% |
| Non-recurring operating charges | 66A | €9,150 | €0 | -€9,150 | -100% |
| Gross operating margin | 9900 | €937,727 | €1,137,449 | +€199,722 | +21.3% |
| Operating profit (loss) | 9901 | €405,757 | €421,328 | +€15,571 | +3.8% |
| Financial income | 75/76B | €8,965 | €8,900 | -€65 | -0.7% |
| Recurring financial income | 75 | €8,965 | €8,900 | -€65 | -0.7% |
| Financial charges | 65/66B | €19,613 | €18,308 | -€1,305 | -6.7% |
| Recurring financial charges | 65 | €19,613 | €18,308 | -€1,305 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €395,109 | €411,920 | +€16,811 | +4.3% |
| Income taxes | 67/77 | €93,371 | €102,878 | +€9,507 | +10.2% |
| Profit (loss) for the period | 9904 | €301,738 | €309,042 | +€7,304 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €301,738 | €309,042 | +€7,304 | +2.4% |
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 24 October 2026 via checked.be.