RENSONNET: 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.
RENSONNET
Largest movements
- Tangible fixed assets -€67,942
down €67,942 (-54.3%), from €125,143 to €57,200
of which Furniture and vehicles: -€36,507
- Cash +€29,023
up €29,023 (+11.8%), from €245,778 to €274,800
mainly Depreciation (+€36,922) and Investment in fixed assets (net) (+€31,660)
- Receivables within one year -€20,753
down €20,753 (-11.0%), from €189,037 to €168,283
of which Trade receivables: -€68,713
- Deferred charges and accrued income +€17,841
up €17,841 (+81.5%), from €21,892 to €39,733
- Stocks and contracts -€12,008
down €12,008 (-14.3%), from €84,005 to €71,997
- Reserves -€47,129
down €47,129 (-11.3%), from €417,915 to €370,786
of which Distributable reserves: -€40,000
- Other debts +€17,997
up €17,997 (+42.7%), from €42,181 to €60,179
- Current portion of long-term debt -€14,399
down €14,399 (-61.8%), from €23,281 to €8,882
- Trade debts -€11,355
down €11,355 (-14.3%), from €79,424 to €68,069
- Tax, wage and social debts +€10,107
up €10,107 (+37.4%), from €27,007 to €37,115
of which Taxes: +€7,719
- Gross operating margin -€70,005
down €70,005 (-12.1%), from €579,538 to €509,533
- Staff costs +€36,617
up €36,617 (+9.6%), from €382,793 to €419,410
- Depreciation -€15,721
down €15,721 (-29.9%), from €52,643 to €36,922
- Other operating charges +€9,050
up €9,050 (+654.9%), from €1,382 to €10,432
- Taxes -€8,184
down €8,184 (-40.5%), from €20,216 to €12,032
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 | €667,750 | €613,270 | -€54,480 | -8.2% |
| Fixed assets | 21/28 | €127,040 | €58,457 | -€68,582 | -54.0% |
| Intangible fixed assets | 21 | €1,723 | €1,083 | -€640 | -37.1% |
| Tangible fixed assets | 22/27 | €125,143 | €57,200 | -€67,942 | -54.3% |
| Plant, machinery and equipment | 23 | €75,801 | €43,655 | -€32,146 | -42.4% |
| Furniture and vehicles | 24 | €42,877 | €6,370 | -€36,507 | -85.1% |
| Other tangible fixed assets | 26 | €6,465 | €7,176 | +€711 | +11.0% |
| Financial fixed assets | 28 | €174 | €174 | = | 0.0% |
| Current assets | 29/58 | €540,711 | €554,813 | +€14,102 | +2.6% |
| Stocks and contracts in progress | 3 | €84,005 | €71,997 | -€12,008 | -14.3% |
| Stocks | 30/36 | €84,005 | €71,997 | -€12,008 | -14.3% |
| Amounts receivable within one year | 40/41 | €189,037 | €168,283 | -€20,753 | -11.0% |
| Trade receivables | 40 | €149,202 | €80,490 | -€68,713 | -46.1% |
| Other amounts receivable | 41 | €39,834 | €87,794 | +€47,959 | +120.4% |
| Cash at bank and in hand | 54/58 | €245,778 | €274,800 | +€29,023 | +11.8% |
| Deferred charges and accrued income | 490/1 | €21,892 | €39,733 | +€17,841 | +81.5% |
| Total equity and liabilities | 10/49 | €667,750 | €613,270 | -€54,480 | -8.2% |
| Equity | 10/15 | €481,754 | €436,065 | -€45,689 | -9.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €417,915 | €370,786 | -€47,129 | -11.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,765 | €7,636 | -€7,129 | -48.3% |
| Distributable reserves | 133 | €397,000 | €357,000 | -€40,000 | -10.1% |
| Profit (loss) carried forward | 14 | €2,104 | €3,658 | +€1,554 | +73.8% |
| Investment grants | 15 | €235 | €122 | -€113 | -48.3% |
| Provisions and deferred taxes | 16 | €4,922 | €2,545 | -€2,376 | -48.3% |
| Deferred taxes | 168 | €4,922 | €2,545 | -€2,376 | -48.3% |
| Amounts payable | 17/49 | €181,074 | €174,660 | -€6,414 | -3.5% |
| Amounts payable after more than one year | 17 | €8,882 | €0 | -€8,882 | -100.0% |
| Financial debts | 170/4 | €8,882 | €0 | -€8,882 | -100.0% |
| Amounts payable within one year | 42/48 | €171,893 | €174,244 | +€2,351 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €23,281 | €8,882 | -€14,399 | -61.8% |
| Trade debts | 44 | €79,424 | €68,069 | -€11,355 | -14.3% |
| Suppliers | 440/4 | €79,424 | €68,069 | -€11,355 | -14.3% |
| Taxes, remuneration and social security | 45 | €27,007 | €37,115 | +€10,107 | +37.4% |
| Taxes | 450/3 | €681 | €8,400 | +€7,719 | +1132.6% |
| Remuneration and social security | 454/9 | €26,326 | €28,715 | +€2,389 | +9.1% |
| Other amounts payable | 47/48 | €42,181 | €60,179 | +€17,997 | +42.7% |
| Accrued charges and deferred income | 492/3 | €299 | €416 | +€117 | +39.0% |
| Non-recurring operating income | 76A | - | €424 | +€424 | |
| Remuneration, social security and pensions | 62 | €382,793 | €419,410 | +€36,617 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,643 | €36,922 | -€15,721 | -29.9% |
| Other operating charges | 640/8 | €1,382 | €10,432 | +€9,050 | +654.9% |
| Gross operating margin | 9900 | €579,538 | €509,533 | -€70,005 | -12.1% |
| Operating profit (loss) | 9901 | €142,720 | €42,769 | -€99,951 | -70.0% |
| Financial income | 75/76B | €339 | €1,004 | +€666 | +196.6% |
| Recurring financial income | 75 | €339 | €1,004 | +€666 | +196.6% |
| Financial charges | 65/66B | €21,953 | €19,694 | -€2,259 | -10.3% |
| Recurring financial charges | 65 | €21,953 | €19,694 | -€2,259 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €121,106 | €24,080 | -€97,026 | -80.1% |
| Transfer from deferred taxes | 780 | €819 | €2,376 | +€1,558 | +190.2% |
| Transfer to deferred taxes | 680 | €3,616 | €0 | -€3,616 | -100.0% |
| Income taxes | 67/77 | €20,216 | €12,032 | -€8,184 | -40.5% |
| Profit (loss) for the period | 9904 | €98,093 | €14,424 | -€83,669 | -85.3% |
| Transfer from tax-exempt reserves | 789 | €2,457 | €7,129 | +€4,673 | +190.2% |
| Transfer to tax-exempt reserves | 689 | €10,847 | €0 | -€10,847 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €89,703 | €21,554 | -€68,149 | -76.0% |
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.