SCHRÖDER René: 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.
SCHRÖDER René
Largest movements
- Cash -€142,156
down €142,156 (-23.3%), from €608,933 to €466,778
mainly Investment in fixed assets (net) (-€622,972) and Contributions, distributions and other (-€422,200)
- Receivables within one year +€130,599
up €130,599 (+15.5%), from €842,454 to €973,053
of which Trade receivables: +€78,441
- Tangible fixed assets -€105,921
down €105,921 (-4.8%), from €2.2m to €2.1m
of which Furniture and vehicles: -€255,242
- Stocks and contracts +€72,851
up €72,851 (+104%), from €69,744 to €142,594
- Reserves -€267,463
down €267,463 (-10.2%), from €2.6m to €2.4m
of which Distributable reserves: -€267,463
- Debts after one year +€146,810
up €146,810 (+27.1%), from €540,829 to €687,639
of which Financial debts: +€140,309
- Current portion of long-term debt +€103,427
up €103,427 (+72.7%), from €142,239 to €245,666
- Depreciation +€198,386
up €198,386 (+37.4%), from €530,371 to €728,757
- Staff costs +€121,474
up €121,474 (+12.4%), from €982,595 to €1.1m
- Gross operating margin +€95,811
up €95,811 (+4.8%), from €2.0m to €2.1m
- Financial income +€36,714
up €36,714 (+43.5%), from €84,428 to €121,142
- Taxes -€26,944
down €26,944 (-46.7%), from €57,725 to €30,781
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 | €4,774,918 | €4,721,543 | -€53,374 | -1.1% |
| Fixed assets | 21/28 | €3,192,618 | €3,086,833 | -€105,786 | -3.3% |
| Tangible fixed assets | 22/27 | €2,189,458 | €2,083,538 | -€105,921 | -4.8% |
| Plant, machinery and equipment | 23 | €533,548 | €387,402 | -€146,145 | -27.4% |
| Furniture and vehicles | 24 | €742,347 | €487,106 | -€255,242 | -34.4% |
| Leasing and similar rights | 25 | €913,563 | €975,143 | +€61,580 | +6.7% |
| Assets under construction and advance payments | 27 | - | €233,886 | +€233,886 | |
| Financial fixed assets | 28 | €1,003,160 | €1,003,295 | +€135 | 0.0% |
| Current assets | 29/58 | €1,582,299 | €1,634,711 | +€52,412 | +3.3% |
| Stocks and contracts in progress | 3 | €69,744 | €142,594 | +€72,851 | +104% |
| Stocks | 30/36 | €69,744 | €142,594 | +€72,851 | +104% |
| Amounts receivable within one year | 40/41 | €842,454 | €973,053 | +€130,599 | +15.5% |
| Trade receivables | 40 | €649,879 | €728,320 | +€78,441 | +12.1% |
| Other amounts receivable | 41 | €192,575 | €244,733 | +€52,158 | +27.1% |
| Cash at bank and in hand | 54/58 | €608,933 | €466,778 | -€142,156 | -23.3% |
| Deferred charges and accrued income | 490/1 | €61,169 | €52,286 | -€8,883 | -14.5% |
| Total equity and liabilities | 10/49 | €4,774,918 | €4,721,543 | -€53,374 | -1.1% |
| Equity | 10/15 | €2,701,072 | €2,411,409 | -€289,663 | -10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,628,472 | €2,361,009 | -€267,463 | -10.2% |
| Non-distributable reserves | 130/1 | €1,000,000 | €1,000,000 | = | 0.0% |
| Own shares acquired | 1312 | €1,000,000 | €1,000,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €114,081 | €114,081 | = | 0.0% |
| Distributable reserves | 133 | €1,514,392 | €1,246,928 | -€267,463 | -17.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €54,000 | €31,800 | -€22,200 | -41.1% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €2,073,846 | €2,310,135 | +€236,289 | +11.4% |
| Amounts payable after more than one year | 17 | €540,829 | €687,639 | +€146,810 | +27.1% |
| Financial debts | 170/4 | €499,094 | €639,403 | +€140,309 | +28.1% |
| Other amounts payable | 178/9 | €41,735 | €48,236 | +€6,501 | +15.6% |
| Amounts payable within one year | 42/48 | €1,533,016 | €1,622,495 | +€89,479 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €142,239 | €245,666 | +€103,427 | +72.7% |
| Trade debts | 44 | €878,499 | €846,380 | -€32,119 | -3.7% |
| Suppliers | 440/4 | €878,499 | €846,380 | -€32,119 | -3.7% |
| Taxes, remuneration and social security | 45 | €112,278 | €130,449 | +€18,171 | +16.2% |
| Taxes | 450/3 | €5,718 | €8,598 | +€2,880 | +50.4% |
| Remuneration and social security | 454/9 | €106,560 | €121,851 | +€15,291 | +14.3% |
| Other amounts payable | 47/48 | €400,000 | €400,000 | = | 0.0% |
| Non-recurring operating income | 76A | €204,984 | €43,500 | -€161,484 | -78.8% |
| Remuneration, social security and pensions | 62 | €982,595 | €1,104,069 | +€121,474 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €530,371 | €728,757 | +€198,386 | +37.4% |
| Other operating charges | 640/8 | €133,623 | €155,170 | +€21,547 | +16.1% |
| Gross operating margin | 9900 | €1,988,393 | €2,084,204 | +€95,811 | +4.8% |
| Operating profit (loss) | 9901 | €341,803 | €96,208 | -€245,596 | -71.9% |
| Financial income | 75/76B | €84,428 | €121,142 | +€36,714 | +43.5% |
| Recurring financial income | 75 | €84,428 | €121,142 | +€36,714 | +43.5% |
| Financial charges | 65/66B | €38,393 | €54,032 | +€15,639 | +40.7% |
| Recurring financial charges | 65 | €35,389 | €54,032 | +€18,643 | +52.7% |
| Non-recurring financial charges | 66B | €3,004 | €0 | -€3,004 | -100% |
| Profit (loss) for the period before taxes | 9903 | €387,838 | €163,318 | -€224,520 | -57.9% |
| Transfer from deferred taxes | 780 | €2,958 | €0 | -€2,958 | -100% |
| Income taxes | 67/77 | €57,725 | €30,781 | -€26,944 | -46.7% |
| Profit (loss) for the period | 9904 | €333,072 | €132,537 | -€200,535 | -60.2% |
| Transfer from tax-exempt reserves | 789 | €8,876 | €0 | -€8,876 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €341,947 | €132,537 | -€209,410 | -61.2% |
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.