RENSON: 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.
What changed
RENSON
NACE 25.530, Machining of metals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€20.5m
2024 · €34.7m-€14.2m
Equity
€225.3m
2024 · €209.8m+€15.5m
Cash
€1.8m
2024 · €2.3m-€542,928
Balance sheet total
€260.0m
2024 · €245.2m+€14.7m
Largest movements
Assets
- Current investments +€40.1m
up €40.1m (+37.2%), from €107.8m to €147.9m
- Receivables within one year -€22.4m
down €22.4m (-46.4%), from €48.2m to €25.8m
of which Other amounts receivable: -€22.5m
- Receivables after one year -€7.0m
down €7.0m (-19.8%), from €35.3m to €28.3m
- Stocks and contracts +€3.3m
up €3.3m (+11.9%), from €27.7m to €31.0m
Equity and liabilities
- Reserves +€15.5m
up €15.5m (+7.4%), from €209.5m to €225.1m
of which Distributable reserves: +€17.4m
Income statement
- Financial income -€10.5m
down €10.5m (-54.6%), from €19.2m to €8.7m
- Turnover -€8.3m
down €8.3m (-5.6%), from €147.7m to €139.4m
- Other operating income +€4.1m
up €4.1m (+41.7%), from €9.8m to €13.9m
- Staff costs +€4.0m
up €4.0m (+9.9%), from €40.2m to €44.2m
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.
Result 2024
€34.7m
Turnover
-€8.3m
Other operating income
+€4.1m
Goods and materials
-€87,616
Services and other goods
-€519,266
Staff costs
-€4.0m
Depreciation
+€193,534
Write-downs
+€3,636
Other operating charges
-€117,439
Other operating items
+€5.2m
Financial income
-€10.5m
Financial charges
-€1.1m
Taxes
+€960,226
Deferred taxes and other
-€19,393
Result 2025
€20.5m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€51.4m
Investment
-€46.9m
Financing
-€5.0m
Cash 2024
€2.3m
From operations (derived)
+€51.4m
Net result for the year
+€20.5m
Depreciation
+€5.8m
Receivables after one year
+€7.0m
Stocks and contracts
-€3.3m
Receivables within one year
+€22.4m
Deferred charges and accrued income
-€224,479
Smaller working-capital items
+€997
Trade debts
-€1.2m
Tax, wage and social debts
+€786,826
Other debts
-€348,321
Investment (derived)
-€46.9m
Investment in fixed assets (net)
-€6.8m
Current investments
-€40.1m
Financing
-€5.0m
Debts after one year
+€6,900
Contributions, distributions and other
-€5.0m
Cash 2025
€1.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €245,209,322 | €259,954,388 | +€14.7m | +6.0% |
| Fixed assets | 21/28 | €23,765,465 | €24,793,986 | +€1.0m | +4.3% |
| Intangible fixed assets | 21 | €4,916,758 | €6,516,151 | +€1.6m | +32.5% |
| Tangible fixed assets | 22/27 | €17,778,382 | €17,248,286 | -€530,096 | -3.0% |
| Land and buildings | 22 | €5,437,661 | €8,564,319 | +€3.1m | +57.5% |
| Plant, machinery and equipment | 23 | €3,382,710 | €3,349,911 | -€32,799 | -1.0% |
| Furniture and vehicles | 24 | €5,489,350 | €5,334,056 | -€155,294 | -2.8% |
| Assets under construction and advance payments | 27 | €3,468,661 | - | -€3.5m | |
| Financial fixed assets | 28 | €1,070,325 | €1,029,548 | -€40,777 | -3.8% |
| Affiliated companies | 280/1 | €896,026 | €896,026 | = | 0.0% |
| Participating interests | 280 | €896,026 | €896,026 | = | 0.0% |
| Other financial fixed assets | 284/8 | €174,299 | €133,522 | -€40,777 | -23.4% |
| Amounts receivable and cash guarantees | 285/8 | €174,299 | €133,522 | -€40,777 | -23.4% |
| Current assets | 29/58 | €221,443,857 | €235,160,402 | +€13.7m | +6.2% |
| Amounts receivable after more than one year | 29 | €35,340,329 | €28,340,329 | -€7.0m | -19.8% |
| Other amounts receivable | 291 | €35,340,329 | €28,340,329 | -€7.0m | -19.8% |
| Stocks and contracts in progress | 3 | €27,682,609 | €30,986,296 | +€3.3m | +11.9% |
| Stocks | 30/36 | €27,682,609 | €30,986,296 | +€3.3m | +11.9% |
| Raw materials and consumables | 30/31 | €16,248,979 | €17,129,598 | +€880,618 | +5.4% |
| Work in progress | 32 | €5,900,544 | €7,588,279 | +€1.7m | +28.6% |
| Finished goods | 33 | €2,976,221 | €3,494,228 | +€518,007 | +17.4% |
| Goods purchased for resale | 34 | €2,556,865 | €2,774,191 | +€217,327 | +8.5% |
| Amounts receivable within one year | 40/41 | €48,153,593 | €25,792,491 | -€22.4m | -46.4% |
| Trade receivables | 40 | €19,214,443 | €19,369,098 | +€154,654 | +0.8% |
| Other amounts receivable | 41 | €28,939,149 | €6,423,393 | -€22.5m | -77.8% |
| Current investments | 50/53 | €107,841,009 | €147,933,419 | +€40.1m | +37.2% |
| Other investments | 51/53 | €107,841,009 | €147,933,419 | +€40.1m | +37.2% |
| Cash at bank and in hand | 54/58 | €2,323,377 | €1,780,448 | -€542,928 | -23.4% |
| Deferred charges and accrued income | 490/1 | €102,941 | €327,419 | +€224,479 | +218% |
| Total equity and liabilities | 10/49 | €245,209,322 | €259,954,388 | +€14.7m | +6.0% |
| Equity | 10/15 | €209,769,260 | €225,297,681 | +€15.5m | +7.4% |
| Contributions | 10/11 | €180,728 | €180,728 | = | 0.0% |
| Capital | 10 | €180,728 | €180,728 | = | 0.0% |
| Issued capital | 100 | €180,728 | €180,728 | = | 0.0% |
| Reserves | 13 | €209,549,359 | €225,082,783 | +€15.5m | +7.4% |
| Non-distributable reserves | 130/1 | €18,073 | €18,073 | = | 0.0% |
| Legal reserve | 130 | €18,073 | €18,073 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,654,314 | €24,820,044 | -€1.8m | -6.9% |
| Distributable reserves | 133 | €182,876,972 | €200,244,666 | +€17.4m | +9.5% |
| Investment grants | 15 | €39,173 | €34,170 | -€5,003 | -12.8% |
| Provisions and deferred taxes | 16 | €60,738 | €58,319 | -€2,418 | -4.0% |
| Deferred taxes | 168 | €60,738 | €58,319 | -€2,418 | -4.0% |
| Amounts payable | 17/49 | €35,379,324 | €34,598,388 | -€780,936 | -2.2% |
| Amounts payable after more than one year | 17 | €2,530,000 | €2,536,900 | +€6,900 | +0.3% |
| Financial debts | 170/4 | €2,530,000 | €2,530,000 | = | 0.0% |
| Subordinated loans | 170 | €2,530,000 | €2,530,000 | = | 0.0% |
| Other amounts payable | 178/9 | - | €6,900 | +€6,900 | |
| Amounts payable within one year | 42/48 | €32,813,756 | €32,057,480 | -€756,276 | -2.3% |
| Trade debts | 44 | €8,274,270 | €7,044,514 | -€1.2m | -14.9% |
| Suppliers | 440/4 | €8,227,516 | €7,044,514 | -€1.2m | -14.4% |
| Bills of exchange payable | 441 | €46,755 | - | -€46,755 | |
| Advances received on contracts in progress | 46 | €457,779 | €492,755 | +€34,976 | +7.6% |
| Taxes, remuneration and social security | 45 | €6,136,043 | €6,922,869 | +€786,826 | +12.8% |
| Taxes | 450/3 | €1,249,803 | €1,489,311 | +€239,508 | +19.2% |
| Remuneration and social security | 454/9 | €4,886,240 | €5,433,558 | +€547,318 | +11.2% |
| Other amounts payable | 47/48 | €17,945,663 | €17,597,342 | -€348,321 | -1.9% |
| Accrued charges and deferred income | 492/3 | €35,568 | €4,007 | -€31,561 | -88.7% |
| Operating income | 70/76A | €157,517,732 | €158,476,186 | +€958,455 | +0.6% |
| Turnover | 70 | €147,690,857 | €139,350,173 | -€8.3m | -5.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€13,532 | €2,205,742 | +€2.2m | |
| Other operating income | 74 | €9,840,406 | €13,947,233 | +€4.1m | +41.7% |
| Non-recurring operating income | 76A | - | €2,973,039 | +€3.0m | |
| Operating charges | 60/66A | €136,605,529 | €141,110,974 | +€4.5m | +3.3% |
| Goods for resale, raw materials and consumables | 60 | €51,049,085 | €51,136,701 | +€87,616 | +0.2% |
| Purchases | 600/8 | €50,734,521 | €52,234,646 | +€1.5m | +3.0% |
| Change in stocks: decrease (increase) | 609 | €314,564 | -€1,097,945 | -€1.4m | |
| Services and other goods | 61 | €38,648,278 | €39,167,543 | +€519,266 | +1.3% |
| Remuneration, social security and pensions | 62 | €40,225,628 | €44,197,381 | +€4.0m | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,011,295 | €5,817,761 | -€193,534 | -3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €124,595 | €120,959 | -€3,636 | -2.9% |
| Other operating charges | 640/8 | €543,035 | €660,474 | +€117,439 | +21.6% |
| Non-recurring operating charges | 66A | €3,613 | €10,155 | +€6,541 | +181% |
| Operating profit (loss) | 9901 | €20,912,203 | €17,365,213 | -€3.5m | -17.0% |
| Financial income | 75/76B | €19,183,747 | €8,708,039 | -€10.5m | -54.6% |
| Recurring financial income | 75 | €19,183,747 | €8,708,039 | -€10.5m | -54.6% |
| Income from current assets | 751 | €5,475,042 | €7,179,915 | +€1.7m | +31.1% |
| Other financial income | 752/9 | €13,708,705 | €1,528,124 | -€12.2m | -88.9% |
| Financial charges | 65/66B | €2,370,761 | €3,443,465 | +€1.1m | +45.2% |
| Recurring financial charges | 65 | €2,346,653 | €3,433,502 | +€1.1m | +46.3% |
| Debt charges | 650 | €1,060,321 | €971,931 | -€88,390 | -8.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €813,036 | €1,678,451 | +€865,415 | +106% |
| Other financial charges | 652/9 | €473,297 | €783,121 | +€309,824 | +65.5% |
| Non-recurring financial charges | 66B | €24,108 | €9,962 | -€14,146 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | €37,725,189 | €22,629,787 | -€15.1m | -40.0% |
| Transfer from deferred taxes | 780 | €21,811 | €2,418 | -€19,393 | -88.9% |
| Income taxes | 67/77 | €3,059,008 | €2,098,781 | -€960,226 | -31.4% |
| Taxes | 670/3 | €3,100,793 | €2,101,523 | -€999,270 | -32.2% |
| Tax adjustments and reversals of tax provisions | 77 | €41,785 | €2,741 | -€39,044 | -93.4% |
| Profit (loss) for the period | 9904 | €34,687,992 | €20,533,424 | -€14.2m | -40.8% |
| Transfer from tax-exempt reserves | 789 | €842,000 | €2,834,269 | +€2.0m | +237% |
| Transfer to tax-exempt reserves | 689 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,529,992 | €22,367,693 | -€12.2m | -35.2% |
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 16 October 2026 via checked.be.