RENVAL: 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
RENVAL
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,261
2024 · €15,279-€4,019
Equity
€125,207
2024 · €185,932-€60,725
Cash
€24,726
2024 · €18,353+€6,373
Balance sheet total
€576,277
2024 · €673,036-€96,760
Largest movements
Assets
- Financial fixed assets -€71,986
down €71,986 (-64.9%), from €111,002 to €39,016
- Tangible fixed assets -€21,778
down €21,778 (-6.1%), from €356,447 to €334,669
of which Plant, machinery and equipment: -€17,836
Equity and liabilities
- Profit (loss) carried forward -€60,725
down €60,725 (-36.7%), from €165,472 to €104,747
- Debts after one year -€16,311
down €16,311 (-8.9%), from €183,688 to €167,377
- Other debts -€15,888
down €15,888 (-10.6%), from €150,371 to €134,483
- Tax, wage and social debts -€7,615
down €7,615 (-10.4%), from €73,324 to €65,709
of which Remuneration and social security: -€3,813
Income statement
- Gross operating margin +€10,310
up €10,310 (+3.3%), from €314,469 to €324,779
- Staff costs +€10,112
up €10,112 (+4.1%), from €247,869 to €257,981
- Depreciation +€6,211
up €6,211 (+24.9%), from €24,946 to €31,157
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
€15,279
Gross operating margin
+€10,310
Staff costs
-€10,112
Depreciation
-€6,211
Other operating charges
+€1,029
Other operating items
-€135
Financial income
-€1,378
Financial charges
-€608
Taxes
+€3,086
Result 2025
€11,261
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
+€28,403
Investment
+€65,520
Financing
-€87,550
Cash 2024
€18,353
From operations (derived)
+€28,403
Net result for the year
+€11,261
Depreciation
+€31,157
Receivables within one year
+€5,676
Deferred charges and accrued income
+€780
Trade debts
+€5,032
Tax, wage and social debts
-€7,615
Other debts
-€15,888
Accrued charges and deferred income
-€2,000
Investment (derived)
+€65,520
Investment in fixed assets (net)
+€62,607
Current investments
+€2,913
Financing
-€87,550
Debts after one year
-€16,311
Current portion of long-term debt
+€747
Contributions, distributions and other
-€71,986
Cash 2025
€24,726
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €673,036 | €576,277 | -€96,760 | -14.4% |
| Fixed assets | 21/28 | €467,448 | €373,684 | -€93,764 | -20.1% |
| Tangible fixed assets | 22/27 | €356,447 | €334,669 | -€21,778 | -6.1% |
| Land and buildings | 22 | - | €2,677 | +€2,677 | |
| Plant, machinery and equipment | 23 | €305,927 | €288,091 | -€17,836 | -5.8% |
| Furniture and vehicles | 24 | €5,512 | €9,011 | +€3,499 | +63.5% |
| Leasing and similar rights | 25 | €45,007 | €34,889 | -€10,118 | -22.5% |
| Financial fixed assets | 28 | €111,002 | €39,016 | -€71,986 | -64.9% |
| Current assets | 29/58 | €205,588 | €202,592 | -€2,996 | -1.5% |
| Amounts receivable within one year | 40/41 | €174,706 | €169,029 | -€5,676 | -3.2% |
| Trade receivables | 40 | €161,348 | €154,292 | -€7,056 | -4.4% |
| Other amounts receivable | 41 | €13,358 | €14,737 | +€1,379 | +10.3% |
| Current investments | 50/53 | €4,580 | €1,667 | -€2,913 | -63.6% |
| Cash at bank and in hand | 54/58 | €18,353 | €24,726 | +€6,373 | +34.7% |
| Deferred charges and accrued income | 490/1 | €7,950 | €7,170 | -€780 | -9.8% |
| Total equity and liabilities | 10/49 | €673,036 | €576,277 | -€96,760 | -14.4% |
| Equity | 10/15 | €185,932 | €125,207 | -€60,725 | -32.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,472 | €104,747 | -€60,725 | -36.7% |
| Amounts payable | 17/49 | €487,104 | €451,070 | -€36,035 | -7.4% |
| Amounts payable after more than one year | 17 | €183,688 | €167,377 | -€16,311 | -8.9% |
| Financial debts | 170/4 | €183,688 | €167,377 | -€16,311 | -8.9% |
| Amounts payable within one year | 42/48 | €301,417 | €283,693 | -€17,724 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €38,964 | €39,711 | +€747 | +1.9% |
| Financial debts | 43 | €3,333 | €3,333 | = | 0.0% |
| Credit institutions | 430/8 | €3,333 | €3,333 | = | 0.0% |
| Trade debts | 44 | €34,627 | €39,659 | +€5,032 | +14.5% |
| Suppliers | 440/4 | €34,627 | €39,659 | +€5,032 | +14.5% |
| Advances received on contracts in progress | 46 | €797 | €797 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €73,324 | €65,709 | -€7,615 | -10.4% |
| Taxes | 450/3 | €35,503 | €31,702 | -€3,802 | -10.7% |
| Remuneration and social security | 454/9 | €37,821 | €34,008 | -€3,813 | -10.1% |
| Other amounts payable | 47/48 | €150,371 | €134,483 | -€15,888 | -10.6% |
| Accrued charges and deferred income | 492/3 | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | €247,869 | €257,981 | +€10,112 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,946 | €31,157 | +€6,211 | +24.9% |
| Other operating charges | 640/8 | €5,914 | €4,884 | -€1,029 | -17.4% |
| Non-recurring operating charges | 66A | €765 | €900 | +€135 | +17.7% |
| Gross operating margin | 9900 | €314,469 | €324,779 | +€10,310 | +3.3% |
| Operating profit (loss) | 9901 | €34,975 | €29,856 | -€5,119 | -14.6% |
| Financial income | 75/76B | €5,071 | €3,693 | -€1,378 | -27.2% |
| Recurring financial income | 75 | €5,071 | €3,693 | -€1,378 | -27.2% |
| Financial charges | 65/66B | €15,318 | €15,926 | +€608 | +4.0% |
| Recurring financial charges | 65 | €15,318 | €15,926 | +€608 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €24,728 | €17,623 | -€7,105 | -28.7% |
| Income taxes | 67/77 | €9,449 | €6,362 | -€3,086 | -32.7% |
| Profit (loss) for the period | 9904 | €15,279 | €11,261 | -€4,019 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,279 | €11,261 | -€4,019 | -26.3% |
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 24 October 2026 via checked.be.