RNEW: 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.
RNEW
Largest movements
- Cash +€100,864
up €100,864 (+131.6%), from €76,619 to €177,484
mainly Net result for the year (+€145,899) and Debts after one year (+€86,970)
- Stocks and contracts -€84,121
down €84,121 (-24.7%), from €340,405 to €256,284
- Receivables within one year -€52,780
down €52,780 (-19.3%), from €272,984 to €220,204
of which Trade receivables: -€50,914
- Tangible fixed assets +€20,077
up €20,077 (+36.5%), from €54,954 to €75,031
of which Other tangible fixed assets: +€29,784
- Advances received -€230,194
no longer reported in 2025 (was €230,194)
- Profit (loss) carried forward +€145,899
up €145,899 (+128.3%), from €113,699 to €259,598
- Debts after one year +€86,970
up €86,970 (+84.6%), from €102,858 to €189,827
- Current portion of long-term debt +€68,121
up €68,121 (+218.8%), from €31,135 to €99,255
- Trade debts -€46,392
down €46,392 (-34.6%), from €134,257 to €87,865
- Staff costs -€208,711
down €208,711 (-25.6%), from €816,263 to €607,552
- Gross operating margin -€81,071
down €81,071 (-8.8%), from €923,483 to €842,412
- Taxes +€41,344
up €41,344 (+299.6%), from €13,801 to €55,146
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 | €754,042 | €746,415 | -€7,627 | -1.0% |
| Fixed assets | 21/28 | €54,954 | €79,155 | +€24,201 | +44.0% |
| Tangible fixed assets | 22/27 | €54,954 | €75,031 | +€20,077 | +36.5% |
| Plant, machinery and equipment | 23 | €24,488 | €16,447 | -€8,042 | -32.8% |
| Furniture and vehicles | 24 | €23,992 | €22,327 | -€1,665 | -6.9% |
| Other tangible fixed assets | 26 | €6,474 | €36,258 | +€29,784 | +460.0% |
| Financial fixed assets | 28 | - | €4,124 | +€4,124 | |
| Current assets | 29/58 | €699,088 | €667,260 | -€31,828 | -4.6% |
| Stocks and contracts in progress | 3 | €340,405 | €256,284 | -€84,121 | -24.7% |
| Stocks | 30/36 | €340,405 | €256,284 | -€84,121 | -24.7% |
| Amounts receivable within one year | 40/41 | €272,984 | €220,204 | -€52,780 | -19.3% |
| Trade receivables | 40 | €215,022 | €164,108 | -€50,914 | -23.7% |
| Other amounts receivable | 41 | €57,962 | €56,096 | -€1,866 | -3.2% |
| Cash at bank and in hand | 54/58 | €76,619 | €177,484 | +€100,864 | +131.6% |
| Deferred charges and accrued income | 490/1 | €9,080 | €13,289 | +€4,209 | +46.4% |
| Total equity and liabilities | 10/49 | €754,042 | €746,415 | -€7,627 | -1.0% |
| Equity | 10/15 | €168,699 | €314,598 | +€145,899 | +86.5% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,699 | €259,598 | +€145,899 | +128.3% |
| Amounts payable | 17/49 | €585,343 | €431,817 | -€153,527 | -26.2% |
| Amounts payable after more than one year | 17 | €102,858 | €189,827 | +€86,970 | +84.6% |
| Financial debts | 170/4 | €102,858 | €189,827 | +€86,970 | +84.6% |
| Amounts payable within one year | 42/48 | €482,486 | €241,309 | -€241,177 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €31,135 | €99,255 | +€68,121 | +218.8% |
| Trade debts | 44 | €134,257 | €87,865 | -€46,392 | -34.6% |
| Suppliers | 440/4 | €134,257 | €87,865 | -€46,392 | -34.6% |
| Advances received on contracts in progress | 46 | €230,194 | - | -€230,194 | |
| Taxes, remuneration and social security | 45 | €80,361 | €47,657 | -€32,705 | -40.7% |
| Taxes | 450/3 | €21,101 | €3,801 | -€17,301 | -82.0% |
| Remuneration and social security | 454/9 | €59,260 | €43,856 | -€15,404 | -26.0% |
| Other amounts payable | 47/48 | €6,539 | €6,532 | -€7 | -0.1% |
| Accrued charges and deferred income | 492/3 | - | €680 | +€680 | |
| Remuneration, social security and pensions | 62 | €816,263 | €607,552 | -€208,711 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,265 | €28,905 | -€1,360 | -4.5% |
| Other operating charges | 640/8 | €5,149 | €2,787 | -€2,363 | -45.9% |
| Non-recurring operating charges | 66A | €8,574 | €1,738 | -€6,836 | -79.7% |
| Gross operating margin | 9900 | €923,483 | €842,412 | -€81,071 | -8.8% |
| Operating profit (loss) | 9901 | €63,232 | €201,430 | +€138,198 | +218.6% |
| Financial income | 75/76B | €9,180 | €10,849 | +€1,669 | +18.2% |
| Recurring financial income | 75 | €7,881 | €10,849 | +€2,968 | +37.7% |
| Non-recurring financial income | 76B | €1,299 | - | -€1,299 | |
| Financial charges | 65/66B | €11,991 | €11,234 | -€757 | -6.3% |
| Recurring financial charges | 65 | €11,991 | €11,234 | -€757 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €60,421 | €201,045 | +€140,624 | +232.7% |
| Income taxes | 67/77 | €13,801 | €55,146 | +€41,344 | +299.6% |
| Profit (loss) for the period | 9904 | €46,620 | €145,899 | +€99,279 | +213.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,620 | €145,899 | +€99,279 | +213.0% |
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 9 October 2026 via checked.be.