RENSOL: 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.
RENSOL
Largest movements
- Stocks and contracts -€454,228
down €454,228 (-37.2%), from €1.2m to €766,265
- Tangible fixed assets -€241,033
down €241,033 (-31.8%), from €757,543 to €516,511
of which Furniture and vehicles: -€147,951
- Receivables within one year +€151,155
up €151,155 (+25.1%), from €602,642 to €753,797
of which Trade receivables: +€235,278
- Cash +€112,858
up €112,858 (+505.0%), from €22,348 to €135,206
mainly Stocks and contracts (+€454,228) and Depreciation (+€354,982)
- Deferred charges and accrued income -€61,205
down €61,205 (-56.0%), from €109,248 to €48,043
- Reserves -€550,820
down €550,820 (-34.6%), from €1.6m to €1.0m
of which Distributable reserves: -€550,820
- Debts after one year +€206,394
up €206,394 (+164.8%), from €125,242 to €331,637
- Tax, wage and social debts -€137,541
down €137,541 (-53.8%), from €255,756 to €118,215
of which Remuneration and social security: -€99,294
- Current portion of long-term debt +€87,434
up €87,434 (+117.5%), from €74,407 to €161,841
- Advances received -€74,795
down €74,795 (-18.8%), from €397,736 to €322,942
- Purchases and services +€884,048
up €884,048 (+19.7%), from €4.5m to €5.4m
- Gross operating margin -€794,067
down €794,067 (-28.7%), from €2.8m to €2.0m
- Turnover +€266,315
up €266,315 (+3.9%), from €6.9m to €7.2m
- Staff costs -€251,204
down €251,204 (-10.5%), from €2.4m to €2.1m
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 | €2,917,227 | €2,397,010 | -€520,217 | -17.8% |
| Fixed assets | 21/28 | €962,496 | €693,699 | -€268,797 | -27.9% |
| Intangible fixed assets | 21 | €204,953 | €177,188 | -€27,765 | -13.5% |
| Tangible fixed assets | 22/27 | €757,543 | €516,511 | -€241,033 | -31.8% |
| Land and buildings | 22 | €231,895 | €183,257 | -€48,638 | -21.0% |
| Plant, machinery and equipment | 23 | €185,056 | €140,613 | -€44,443 | -24.0% |
| Furniture and vehicles | 24 | €340,592 | €192,641 | -€147,951 | -43.4% |
| Current assets | 29/58 | €1,954,730 | €1,703,310 | -€251,420 | -12.9% |
| Stocks and contracts in progress | 3 | €1,220,492 | €766,265 | -€454,228 | -37.2% |
| Stocks | 30/36 | €1,220,492 | €766,265 | -€454,228 | -37.2% |
| Amounts receivable within one year | 40/41 | €602,642 | €753,797 | +€151,155 | +25.1% |
| Trade receivables | 40 | €490,938 | €726,216 | +€235,278 | +47.9% |
| Other amounts receivable | 41 | €111,704 | €27,581 | -€84,123 | -75.3% |
| Cash at bank and in hand | 54/58 | €22,348 | €135,206 | +€112,858 | +505.0% |
| Deferred charges and accrued income | 490/1 | €109,248 | €48,043 | -€61,205 | -56.0% |
| Total equity and liabilities | 10/49 | €2,917,227 | €2,397,010 | -€520,217 | -17.8% |
| Equity | 10/15 | €1,610,985 | €1,060,165 | -€550,820 | -34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,592,385 | €1,041,565 | -€550,820 | -34.6% |
| Tax-exempt reserves | 132 | €244,180 | €244,180 | = | 0.0% |
| Distributable reserves | 133 | €1,348,205 | €797,385 | -€550,820 | -40.9% |
| Amounts payable | 17/49 | €1,306,242 | €1,336,844 | +€30,602 | +2.3% |
| Amounts payable after more than one year | 17 | €125,242 | €331,637 | +€206,394 | +164.8% |
| Financial debts | 170/4 | €125,242 | €331,637 | +€206,394 | +164.8% |
| Amounts payable within one year | 42/48 | €1,181,000 | €1,004,812 | -€176,188 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €74,407 | €161,841 | +€87,434 | +117.5% |
| Trade debts | 44 | €319,697 | €273,048 | -€46,649 | -14.6% |
| Suppliers | 440/4 | €319,697 | €273,048 | -€46,649 | -14.6% |
| Advances received on contracts in progress | 46 | €397,736 | €322,942 | -€74,795 | -18.8% |
| Taxes, remuneration and social security | 45 | €255,756 | €118,215 | -€137,541 | -53.8% |
| Taxes | 450/3 | €47,411 | €9,164 | -€38,247 | -80.7% |
| Remuneration and social security | 454/9 | €208,345 | €109,051 | -€99,294 | -47.7% |
| Other amounts payable | 47/48 | €133,404 | €128,766 | -€4,638 | -3.5% |
| Accrued charges and deferred income | 492/3 | - | €396 | +€396 | |
| Turnover | 70 | €6,888,795 | €7,155,110 | +€266,315 | +3.9% |
| Non-recurring operating income | 76A | €27,696 | €9,435 | -€18,261 | -65.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,482,618 | €5,366,665 | +€884,048 | +19.7% |
| Remuneration, social security and pensions | 62 | €2,389,580 | €2,138,376 | -€251,204 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €330,829 | €354,982 | +€24,154 | +7.3% |
| Other operating charges | 640/8 | €21,806 | €21,685 | -€121 | -0.6% |
| Non-recurring operating charges | 66A | €20,159 | - | -€20,159 | |
| Gross operating margin | 9900 | €2,770,935 | €1,976,868 | -€794,067 | -28.7% |
| Operating profit (loss) | 9901 | €8,561 | -€538,176 | -€546,737 | |
| Financial income | 75/76B | €31,167 | €8,541 | -€22,626 | -72.6% |
| Recurring financial income | 75 | €31,167 | €8,541 | -€22,626 | -72.6% |
| Financial charges | 65/66B | €16,123 | €18,865 | +€2,742 | +17.0% |
| Recurring financial charges | 65 | €16,123 | €18,865 | +€2,742 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €23,606 | -€548,500 | -€572,106 | |
| Income taxes | 67/77 | €9,337 | €2,319 | -€7,017 | -75.2% |
| Profit (loss) for the period | 9904 | €14,269 | -€550,820 | -€565,088 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,269 | -€550,820 | -€565,088 |
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 6 October 2026 via checked.be.