RENTABEL: 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
RENTABEL
NACE 41.001, General construction of residential buildings
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€66,477
2024 · -€5,529+€72,005
Equity
€2.4m
2024 · €2.5m-€99,007
Cash
€1.1m
2024 · €242,754+€835,474
Balance sheet total
€6.1m
2024 · €6.3m-€197,644
Largest movements
Assets
- Cash +€835,474
up €835,474 (+344.2%), from €242,754 to €1.1m
mainly Current investments (+€750,000) and Depreciation (+€729,535)
- Current investments -€750,000
no longer reported in 2025 (was €750,000)
- Tangible fixed assets -€211,816
down €211,816 (-9.1%), from €2.3m to €2.1m
of which Plant, machinery and equipment: -€199,513
Equity and liabilities
- Debts after one year -€272,847
down €272,847 (-22.7%), from €1.2m to €928,267
- Other debts +€120,199
up €120,199 (+87.7%), from €137,110 to €257,309
- Reserves -€101,080
down €101,080 (-5.8%), from €1.7m to €1.6m
of which Distributable reserves: -€101,080
Income statement
- Gross operating margin +€545,089
up €545,089 (+31.5%), from €1.7m to €2.3m
- Write-downs +€133,968
new in 2025: €133,968
- Staff costs +€123,477
up €123,477 (+12.3%), from €1.0m to €1.1m
- Other operating charges +€88,775
up €88,775 (+281.3%), from €31,556 to €120,331
- Depreciation +€48,131
up €48,131 (+7.1%), from €681,404 to €729,535
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
-€5,529
Gross operating margin
+€545,089
Staff costs
-€123,477
Depreciation
-€48,131
Write-downs
-€133,968
Provisions
-€45,920
Other operating charges
-€88,775
Other operating items
+€3,283
Financial income
-€16,769
Financial charges
+€167
Taxes
-€19,495
Result 2025
€66,477
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.
From operations
+€1.1m
Investment
+€232,643
Financing
-€473,956
Cash 2024
€242,754
From operations (derived)
+€1.1m
Net result for the year
+€66,477
Depreciation
+€729,535
Receivables after one year
-€4,500
Receivables within one year
+€36,593
Deferred charges and accrued income
+€38,847
Trade debts
+€49,338
Tax, wage and social debts
+€38,782
Other debts
+€120,199
Accrued charges and deferred income
+€1,516
Investment (derived)
+€232,643
Investment in fixed assets (net)
-€517,357
Current investments
+€750,000
Financing
-€473,956
Debts after one year
-€272,847
Current portion of long-term debt
-€58,648
Short-term financial debts
+€23,023
Contributions, distributions and other
-€165,484
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,334,456 | €6,136,813 | -€197,644 | -3.1% |
| Fixed assets | 21/28 | €2,405,636 | €2,193,457 | -€212,178 | -8.8% |
| Intangible fixed assets | 21 | €362 | - | -€362 | |
| Tangible fixed assets | 22/27 | €2,322,799 | €2,110,984 | -€211,816 | -9.1% |
| Land and buildings | 22 | €351,678 | €365,942 | +€14,264 | +4.1% |
| Plant, machinery and equipment | 23 | €1,311,307 | €1,111,793 | -€199,513 | -15.2% |
| Furniture and vehicles | 24 | €506,777 | €486,100 | -€20,677 | -4.1% |
| Other tangible fixed assets | 26 | €143,557 | €137,668 | -€5,889 | -4.1% |
| Assets under construction and advance payments | 27 | €9,480 | €9,480 | = | 0.0% |
| Financial fixed assets | 28 | €82,474 | €82,474 | = | 0.0% |
| Current assets | 29/58 | €3,928,821 | €3,943,355 | +€14,534 | +0.4% |
| Amounts receivable after more than one year | 29 | €269,850 | €274,350 | +€4,500 | +1.7% |
| Trade receivables | 290 | €64,850 | €64,850 | = | 0.0% |
| Other amounts receivable | 291 | €205,000 | €209,500 | +€4,500 | +2.2% |
| Stocks and contracts in progress | 3 | €183,441 | €183,441 | = | 0.0% |
| Stocks | 30/36 | €183,441 | €183,441 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,342,975 | €2,306,381 | -€36,593 | -1.6% |
| Trade receivables | 40 | €2,077,782 | €1,877,301 | -€200,481 | -9.6% |
| Other amounts receivable | 41 | €265,193 | €429,081 | +€163,888 | +61.8% |
| Current investments | 50/53 | €750,000 | - | -€750,000 | |
| Cash at bank and in hand | 54/58 | €242,754 | €1,078,229 | +€835,474 | +344.2% |
| Deferred charges and accrued income | 490/1 | €139,801 | €100,954 | -€38,847 | -27.8% |
| Total equity and liabilities | 10/49 | €6,334,456 | €6,136,813 | -€197,644 | -3.1% |
| Equity | 10/15 | €2,460,423 | €2,361,416 | -€99,007 | -4.0% |
| Contributions | 10/11 | €260,000 | €260,000 | = | 0.0% |
| Capital | 10 | €260,000 | €260,000 | = | 0.0% |
| Issued capital | 100 | €260,000 | €260,000 | = | 0.0% |
| Reserves | 13 | €1,743,767 | €1,642,687 | -€101,080 | -5.8% |
| Non-distributable reserves | 130/1 | €26,000 | €26,000 | = | 0.0% |
| Legal reserve | 130 | €26,000 | €26,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €513,927 | €513,927 | = | 0.0% |
| Distributable reserves | 133 | €1,203,840 | €1,102,760 | -€101,080 | -8.4% |
| Profit (loss) carried forward | 14 | €456,656 | €458,729 | +€2,073 | +0.5% |
| Provisions and deferred taxes | 16 | €723,147 | €723,147 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €723,147 | €723,147 | = | 0.0% |
| Other liabilities and charges | 164/5 | €723,147 | €723,147 | = | 0.0% |
| Amounts payable | 17/49 | €3,150,886 | €3,052,250 | -€98,637 | -3.1% |
| Amounts payable after more than one year | 17 | €1,201,113 | €928,267 | -€272,847 | -22.7% |
| Financial debts | 170/4 | €1,201,113 | €928,267 | -€272,847 | -22.7% |
| Amounts payable within one year | 42/48 | €1,948,181 | €2,120,874 | +€172,694 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €766,022 | €707,374 | -€58,648 | -7.7% |
| Financial debts | 43 | €56,144 | €79,167 | +€23,023 | +41.0% |
| Credit institutions | 430/8 | €56,144 | €79,167 | +€23,023 | +41.0% |
| Trade debts | 44 | €940,576 | €989,914 | +€49,338 | +5.2% |
| Suppliers | 440/4 | €940,576 | €989,914 | +€49,338 | +5.2% |
| Taxes, remuneration and social security | 45 | €48,328 | €87,110 | +€38,782 | +80.2% |
| Taxes | 450/3 | €8,116 | €6,544 | -€1,573 | -19.4% |
| Remuneration and social security | 454/9 | €40,212 | €80,567 | +€40,354 | +100.4% |
| Other amounts payable | 47/48 | €137,110 | €257,309 | +€120,199 | +87.7% |
| Accrued charges and deferred income | 492/3 | €1,593 | €3,109 | +€1,516 | +95.2% |
| Non-recurring operating income | 76A | €14,028 | €9,212 | -€4,815 | -34.3% |
| Remuneration, social security and pensions | 62 | €1,004,708 | €1,128,185 | +€123,477 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €681,404 | €729,535 | +€48,131 | +7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €133,968 | +€133,968 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€45,920 | - | +€45,920 | |
| Other operating charges | 640/8 | €31,556 | €120,331 | +€88,775 | +281.3% |
| Non-recurring operating charges | 66A | €4,819 | €1,535 | -€3,283 | -68.1% |
| Gross operating margin | 9900 | €1,729,196 | €2,274,285 | +€545,089 | +31.5% |
| Operating profit (loss) | 9901 | €52,629 | €160,731 | +€108,102 | +205.4% |
| Financial income | 75/76B | €28,815 | €12,046 | -€16,769 | -58.2% |
| Recurring financial income | 75 | €28,815 | €12,046 | -€16,769 | -58.2% |
| Financial charges | 65/66B | €86,393 | €86,226 | -€167 | -0.2% |
| Recurring financial charges | 65 | €86,393 | €86,226 | -€167 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,949 | €86,552 | +€91,501 | |
| Income taxes | 67/77 | €580 | €20,075 | +€19,495 | +3362.5% |
| Profit (loss) for the period | 9904 | -€5,529 | €66,477 | +€72,005 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,529 | €66,477 | +€72,005 |
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 12 October 2026 via checked.be.