SB RENO: 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.
SB RENO
Largest movements
- Receivables within one year -€98,443
down €98,443 (-53.0%), from €185,840 to €87,397
of which Trade receivables: -€89,629
- Tangible fixed assets -€36,538
down €36,538 (-57.2%), from €63,829 to €27,291
of which Furniture and vehicles: -€35,886
- Cash +€10,274
up €10,274 (+4,317%), from €238 to €10,512
mainly Receivables within one year (+€98,443) and Investment in fixed assets (net) (+€28,181)
- Trade debts -€59,719
down €59,719 (-57.2%), from €104,374 to €44,655
- Profit (loss) carried forward -€36,237
down €36,237, from €6,764 to -€29,473
- Debts after one year -€22,361
down €22,361 (-47.2%), from €47,359 to €24,998
- Other debts -€6,343
down €6,343 (-42.5%), from €14,941 to €8,598
- Gross operating margin -€93,279
down €93,279, from €75,145 to -€18,134
- Taxes -€15,213
down €15,213 (-85.0%), from €17,888 to €2,675
- Depreciation -€6,131
down €6,131 (-45.2%), from €13,571 to €7,440
- Financial charges +€1,960
up €1,960 (+163%), from €1,205 to €3,165
- Other operating charges +€999
up €999 (+54.8%), from €1,824 to €2,823
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €252,624 | €127,043 | -€125,581 | -49.7% |
| Formation expenses | 20 | €926 | €693 | -€233 | -25.2% |
| Fixed assets | 21/28 | €63,829 | €28,441 | -€35,388 | -55.4% |
| Tangible fixed assets | 22/27 | €63,829 | €27,291 | -€36,538 | -57.2% |
| Plant, machinery and equipment | 23 | €2,972 | €2,320 | -€652 | -21.9% |
| Furniture and vehicles | 24 | €60,857 | €24,971 | -€35,886 | -59.0% |
| Financial fixed assets | 28 | - | €1,150 | +€1,150 | |
| Current assets | 29/58 | €187,869 | €97,909 | -€89,960 | -47.9% |
| Amounts receivable within one year | 40/41 | €185,840 | €87,397 | -€98,443 | -53.0% |
| Trade receivables | 40 | €168,071 | €78,442 | -€89,629 | -53.3% |
| Other amounts receivable | 41 | €17,769 | €8,955 | -€8,814 | -49.6% |
| Cash at bank and in hand | 54/58 | €238 | €10,512 | +€10,274 | +4,317% |
| Deferred charges and accrued income | 490/1 | €1,791 | - | -€1,791 | |
| Total equity and liabilities | 10/49 | €252,624 | €127,043 | -€125,581 | -49.7% |
| Equity | 10/15 | €44,240 | €8,003 | -€36,237 | -81.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €17,016 | €17,016 | = | 0.0% |
| Distributable reserves | 133 | €17,016 | €17,016 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,764 | -€29,473 | -€36,237 | |
| Amounts payable | 17/49 | €208,384 | €119,040 | -€89,344 | -42.9% |
| Amounts payable after more than one year | 17 | €47,359 | €24,998 | -€22,361 | -47.2% |
| Financial debts | 170/4 | €47,359 | €24,998 | -€22,361 | -47.2% |
| Amounts payable within one year | 42/48 | €161,025 | €94,042 | -€66,983 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | €21,269 | €22,361 | +€1,092 | +5.1% |
| Financial debts | 43 | €913 | €12 | -€901 | -98.7% |
| Credit institutions | 430/8 | €913 | €12 | -€901 | -98.7% |
| Trade debts | 44 | €104,374 | €44,655 | -€59,719 | -57.2% |
| Suppliers | 440/4 | €104,374 | €44,655 | -€59,719 | -57.2% |
| Taxes, remuneration and social security | 45 | €19,528 | €18,416 | -€1,112 | -5.7% |
| Taxes | 450/3 | €19,528 | €18,416 | -€1,112 | -5.7% |
| Other amounts payable | 47/48 | €14,941 | €8,598 | -€6,343 | -42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,571 | €7,440 | -€6,131 | -45.2% |
| Other operating charges | 640/8 | €1,824 | €2,823 | +€999 | +54.8% |
| Non-recurring operating charges | 66A | - | €2,000 | +€2,000 | |
| Gross operating margin | 9900 | €75,145 | -€18,134 | -€93,279 | |
| Operating profit (loss) | 9901 | €59,750 | -€30,397 | -€90,147 | |
| Financial charges | 65/66B | €1,205 | €3,165 | +€1,960 | +163% |
| Recurring financial charges | 65 | €1,205 | €3,165 | +€1,960 | +163% |
| Profit (loss) for the period before taxes | 9903 | €58,545 | -€33,562 | -€92,107 | |
| Income taxes | 67/77 | €17,888 | €2,675 | -€15,213 | -85.0% |
| Profit (loss) for the period | 9904 | €40,657 | -€36,237 | -€76,894 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,657 | -€36,237 | -€76,894 |
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 22 October 2026 via checked.be.