RENTEL: 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
RENTEL
NACE 35.150, Electricity, gas, steam and air conditioning supply
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€26.2m
2024 · €33.9m-€7.8m
Equity
€140.3m
2024 · €123.3m+€17.0m
Cash
€28.2m
2024 · €11.6m+€16.6m
Balance sheet total
€690.1m
2024 · €719.6m-€29.5m
Largest movements
Assets
- Tangible fixed assets -€49.8m
down €49.8m (-7.9%), from €631.0m to €581.2m
of which Plant, machinery and equipment: -€49.3m
- Cash +€16.6m
up €16.6m (+143%), from €11.6m to €28.2m
mainly Depreciation (+€49.6m) and Net result for the year (+€26.2m)
Equity and liabilities
- Debts after one year -€51.3m
down €51.3m (-10.2%), from €502.3m to €451.0m
- Profit (loss) carried forward +€17.7m
up €17.7m (+126%), from €14.0m to €31.7m
Income statement
- Turnover -€8.0m
down €8.0m (-5.6%), from €142.1m to €134.1m
- Taxes -€2.1m
down €2.1m (-23.0%), from €9.2m to €7.0m
- Services and other goods +€1.5m
up €1.5m (+4.3%), from €34.1m to €35.5m
- Financial charges -€1.4m
down €1.4m (-9.0%), from €15.8m to €14.4m
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
€33.9m
Turnover
-€8.0m
Other operating income
-€441,362
Services and other goods
-€1.5m
Depreciation
+€16,320
Provisions
-€23,732
Other operating charges
-€84
Financial income
-€1.4m
Financial charges
+€1.4m
Taxes
+€2.1m
Result 2025
€26.2m
raises the resultlowers the result
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
+€76.4m
Investment
+€170,598
Financing
-€60.0m
Cash 2024
€11.6m
From operations (derived)
+€76.4m
Net result for the year
+€26.2m
Depreciation
+€49.6m
Receivables within one year
-€3.9m
Deferred charges and accrued income
+€192,698
Provisions
+€4.0m
Trade debts
-€741,373
Tax, wage and social debts
+€1.0m
Other debts
-€12,288
Investment (derived)
+€170,598
Investment in fixed assets (net)
+€170,598
Financing
-€60.0m
Debts after one year
-€51.3m
Current portion of long-term debt
+€489,821
Contributions, distributions and other
-€9.2m
Cash 2025
€28.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €719,629,635 | €690,088,291 | -€29.5m | -4.1% |
| Fixed assets | 21/28 | €663,605,325 | €613,801,424 | -€49.8m | -7.5% |
| Intangible fixed assets | 21 | €171,078 | €139,130 | -€31,947 | -18.7% |
| Tangible fixed assets | 22/27 | €630,995,901 | €581,206,430 | -€49.8m | -7.9% |
| Land and buildings | 22 | €4,055,294 | €3,909,013 | -€146,282 | -3.6% |
| Plant, machinery and equipment | 23 | €626,418,490 | €577,150,582 | -€49.3m | -7.9% |
| Furniture and vehicles | 24 | €147,237 | €105,364 | -€41,872 | -28.4% |
| Assets under construction and advance payments | 27 | €374,880 | €41,472 | -€333,408 | -88.9% |
| Financial fixed assets | 28 | €32,438,346 | €32,455,863 | +€17,517 | +0.1% |
| Other financial fixed assets | 284/8 | €32,438,346 | €32,455,863 | +€17,517 | +0.1% |
| Amounts receivable and cash guarantees | 285/8 | €32,438,346 | €32,455,863 | +€17,517 | +0.1% |
| Current assets | 29/58 | €56,024,310 | €76,286,867 | +€20.3m | +36.2% |
| Amounts receivable within one year | 40/41 | €28,415,578 | €32,297,164 | +€3.9m | +13.7% |
| Trade receivables | 40 | €28,294,369 | €32,165,568 | +€3.9m | +13.7% |
| Other amounts receivable | 41 | €121,209 | €131,596 | +€10,387 | +8.6% |
| Current investments | 50/53 | €10,000,000 | €10,000,000 | = | 0.0% |
| Other investments | 51/53 | €10,000,000 | €10,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,592,945 | €28,166,613 | +€16.6m | +143% |
| Deferred charges and accrued income | 490/1 | €6,015,787 | €5,823,089 | -€192,698 | -3.2% |
| Total equity and liabilities | 10/49 | €719,629,635 | €690,088,291 | -€29.5m | -4.1% |
| Equity | 10/15 | €123,336,807 | €140,323,315 | +€17.0m | +13.8% |
| Contributions | 10/11 | €91,515,301 | €91,515,301 | = | 0.0% |
| Capital | 10 | €91,515,301 | €91,515,301 | = | 0.0% |
| Issued capital | 100 | €91,515,301 | €91,515,301 | = | 0.0% |
| Reserves | 13 | €9,153,543 | €9,151,530 | -€2,013 | 0.0% |
| Non-distributable reserves | 130/1 | €9,151,530 | €9,151,530 | = | 0.0% |
| Legal reserve | 130 | €9,151,530 | €9,151,530 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,013 | - | -€2,013 | |
| Profit (loss) carried forward | 14 | €14,001,696 | €31,669,925 | +€17.7m | +126% |
| Investment grants | 15 | €8,666,266 | €7,986,559 | -€679,707 | -7.8% |
| Provisions and deferred taxes | 16 | €28,486,651 | €32,479,936 | +€4.0m | +14.0% |
| Provisions for liabilities and charges | 160/5 | €25,597,895 | €29,817,750 | +€4.2m | +16.5% |
| Major repairs and maintenance | 162 | €942,000 | €942,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €24,655,895 | €28,875,750 | +€4.2m | +17.1% |
| Deferred taxes | 168 | €2,888,756 | €2,662,187 | -€226,569 | -7.8% |
| Amounts payable | 17/49 | €567,806,177 | €517,285,040 | -€50.5m | -8.9% |
| Amounts payable after more than one year | 17 | €502,290,873 | €450,988,610 | -€51.3m | -10.2% |
| Financial debts | 170/4 | €502,290,873 | €450,988,610 | -€51.3m | -10.2% |
| Subordinated loans | 170 | €8,171,962 | €7,521,857 | -€650,105 | -8.0% |
| Credit institutions | 173 | €494,118,911 | €443,466,753 | -€50.7m | -10.3% |
| Amounts payable within one year | 42/48 | €65,515,305 | €66,296,429 | +€781,125 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €50,812,441 | €51,302,263 | +€489,821 | +1.0% |
| Trade debts | 44 | €10,772,476 | €10,031,103 | -€741,373 | -6.9% |
| Suppliers | 440/4 | €10,772,476 | €10,031,103 | -€741,373 | -6.9% |
| Taxes, remuneration and social security | 45 | €3,751,029 | €4,795,994 | +€1.0m | +27.9% |
| Taxes | 450/3 | €3,751,029 | €4,795,994 | +€1.0m | +27.9% |
| Other amounts payable | 47/48 | €179,358 | €167,070 | -€12,288 | -6.9% |
| Operating income | 70/76A | €143,284,584 | €134,837,544 | -€8.4m | -5.9% |
| Turnover | 70 | €142,122,783 | €134,117,106 | -€8.0m | -5.6% |
| Other operating income | 74 | €1,161,801 | €720,439 | -€441,362 | -38.0% |
| Operating charges | 60/66A | €87,924,206 | €89,400,808 | +€1.5m | +1.7% |
| Services and other goods | 61 | €34,076,910 | €35,546,015 | +€1.5m | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,649,623 | €49,633,303 | -€16,320 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,196,122 | €4,219,854 | +€23,732 | +0.6% |
| Other operating charges | 640/8 | €1,551 | €1,635 | +€84 | +5.4% |
| Operating profit (loss) | 9901 | €55,360,378 | €45,436,736 | -€9.9m | -17.9% |
| Financial income | 75/76B | €3,292,919 | €1,930,760 | -€1.4m | -41.4% |
| Recurring financial income | 75 | €3,292,919 | €1,930,760 | -€1.4m | -41.4% |
| Income from current assets | 751 | €2,613,212 | €1,251,053 | -€1.4m | -52.1% |
| Other financial income | 752/9 | €679,707 | €679,707 | +€0 | 0.0% |
| Financial charges | 65/66B | €15,804,925 | €14,381,874 | -€1.4m | -9.0% |
| Recurring financial charges | 65 | €15,804,925 | €14,381,874 | -€1.4m | -9.0% |
| Debt charges | 650 | €15,738,249 | €14,275,334 | -€1.5m | -9.3% |
| Other financial charges | 652/9 | €66,676 | €106,540 | +€39,864 | +59.8% |
| Profit (loss) for the period before taxes | 9903 | €42,848,372 | €32,985,623 | -€9.9m | -23.0% |
| Transfer from deferred taxes | 780 | €226,569 | €226,569 | = | 0.0% |
| Income taxes | 67/77 | €9,156,151 | €7,045,977 | -€2.1m | -23.0% |
| Taxes | 670/3 | €9,156,151 | €7,045,977 | -€2.1m | -23.0% |
| Profit (loss) for the period | 9904 | €33,918,789 | €26,166,215 | -€7.8m | -22.9% |
| Transfer from tax-exempt reserves | 789 | - | €2,013 | +€2,013 | |
| Transfer to tax-exempt reserves | 689 | €2,013 | - | -€2,013 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,916,776 | €26,168,228 | -€7.7m | -22.8% |
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 23 October 2026 via checked.be.