RENTAC: 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.
RENTAC
Largest movements
- Receivables within one year +€15,074
up €15,074 (+23.8%), from €63,404 to €78,478
of which Trade receivables: +€14,702
- Cash +€10,865
up €10,865 (+74.1%), from €14,671 to €25,537
mainly Net result for the year (+€50,097) and Depreciation (+€13,967)
- Tangible fixed assets +€9,984
up €9,984 (+3.1%), from €326,705 to €336,689
of which Land and buildings: +€14,237
- Reserves +€50,000
up €50,000 (+23.0%), from €217,500 to €267,500
of which Distributable reserves: +€50,000
- Current portion of long-term debt -€9,324
down €9,324 (-91.6%), from €10,176 to €852
- Other debts -€7,911
down €7,911 (-47.4%), from €16,673 to €8,762
- Accrued charges and deferred income +€4,978
up €4,978 (+4978.2%), from €100 to €5,078
- Gross operating margin +€17,179
up €17,179 (+24.0%), from €71,573 to €88,752
- Taxes +€4,100
up €4,100 (+22.7%), from €18,092 to €22,192
- Depreciation +€934
up €934 (+7.2%), from €13,033 to €13,967
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 | €404,781 | €440,848 | +€36,067 | +8.9% |
| Fixed assets | 21/28 | €326,705 | €336,689 | +€9,984 | +3.1% |
| Tangible fixed assets | 22/27 | €326,705 | €336,689 | +€9,984 | +3.1% |
| Land and buildings | 22 | €313,672 | €327,910 | +€14,237 | +4.5% |
| Furniture and vehicles | 24 | €13,033 | €8,779 | -€4,254 | -32.6% |
| Current assets | 29/58 | €78,075 | €104,159 | +€26,084 | +33.4% |
| Amounts receivable within one year | 40/41 | €63,404 | €78,478 | +€15,074 | +23.8% |
| Trade receivables | 40 | €63,404 | €78,106 | +€14,702 | +23.2% |
| Other amounts receivable | 41 | - | €373 | +€373 | |
| Cash at bank and in hand | 54/58 | €14,671 | €25,537 | +€10,865 | +74.1% |
| Deferred charges and accrued income | 490/1 | - | €144 | +€144 | |
| Total equity and liabilities | 10/49 | €404,781 | €440,848 | +€36,067 | +8.9% |
| Equity | 10/15 | €356,118 | €406,215 | +€50,097 | +14.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €217,500 | €267,500 | +€50,000 | +23.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €211,000 | €261,000 | +€50,000 | +23.7% |
| Profit (loss) carried forward | 14 | €120,018 | €120,115 | +€97 | +0.1% |
| Amounts payable | 17/49 | €48,663 | €34,633 | -€14,030 | -28.8% |
| Amounts payable after more than one year | 17 | €852 | - | -€852 | |
| Financial debts | 170/4 | €852 | - | -€852 | |
| Amounts payable within one year | 42/48 | €47,711 | €29,555 | -€18,156 | -38.1% |
| Current portion of amounts payable after more than one year | 42 | €10,176 | €852 | -€9,324 | -91.6% |
| Trade debts | 44 | €8,884 | €5,544 | -€3,340 | -37.6% |
| Suppliers | 440/4 | €8,884 | €5,544 | -€3,340 | -37.6% |
| Taxes, remuneration and social security | 45 | €11,978 | €14,397 | +€2,419 | +20.2% |
| Taxes | 450/3 | €11,978 | €14,397 | +€2,419 | +20.2% |
| Other amounts payable | 47/48 | €16,673 | €8,762 | -€7,911 | -47.4% |
| Accrued charges and deferred income | 492/3 | €100 | €5,078 | +€4,978 | +4978.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,033 | €13,967 | +€934 | +7.2% |
| Other operating charges | 640/8 | €3,079 | €2,412 | -€668 | -21.7% |
| Gross operating margin | 9900 | €71,573 | €88,752 | +€17,179 | +24.0% |
| Operating profit (loss) | 9901 | €55,461 | €72,374 | +€16,912 | +30.5% |
| Financial income | 75/76B | €288 | €215 | -€73 | -25.2% |
| Recurring financial income | 75 | €88 | €215 | +€127 | +145.0% |
| Non-recurring financial income | 76B | €200 | - | -€200 | |
| Financial charges | 65/66B | €480 | €299 | -€180 | -37.6% |
| Recurring financial charges | 65 | €480 | €299 | -€180 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €55,269 | €72,289 | +€17,020 | +30.8% |
| Income taxes | 67/77 | €18,092 | €22,192 | +€4,100 | +22.7% |
| Profit (loss) for the period | 9904 | €37,177 | €50,097 | +€12,920 | +34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €37,177 | €50,097 | +€12,920 | +34.8% |
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.