TAS RENE: 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.
TAS RENE
Largest movements
- Cash +€65,944
up €65,944 (+57.5%), from €114,681 to €180,624
mainly Receivables within one year (+€52,025) and Net result for the year (+€18,122)
- Receivables within one year -€52,025
down €52,025 (-41.8%), from €124,576 to €72,551
of which Trade receivables: -€48,121
- Tangible fixed assets +€4,215
up €4,215 (+4.1%), from €103,082 to €107,297
of which Furniture and vehicles: +€7,251
- Reserves +€18,122
up €18,122 (+10.7%), from €168,619 to €186,741
- Tax, wage and social debts +€5,067
up €5,067 (+30.4%), from €16,665 to €21,732
of which Remuneration and social security: +€4,081
- Trade debts -€3,755
down €3,755 (-8.6%), from €43,761 to €40,006
- Staff costs -€72,912
down €72,912 (-24.5%), from €297,506 to €224,594
- Gross operating margin -€56,821
down €56,821 (-15.5%), from €367,477 to €310,656
- Write-downs +€48,625
new in 2025: €48,625
- Taxes -€7,337
down €7,337 (-49.3%), from €14,879 to €7,541
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 | €357,526 | €373,825 | +€16,300 | +4.6% |
| Fixed assets | 21/28 | €103,082 | €107,297 | +€4,215 | +4.1% |
| Tangible fixed assets | 22/27 | €103,082 | €107,297 | +€4,215 | +4.1% |
| Land and buildings | 22 | €98,154 | €95,367 | -€2,787 | -2.8% |
| Plant, machinery and equipment | 23 | €1,228 | €980 | -€248 | -20.2% |
| Furniture and vehicles | 24 | €3,699 | €10,950 | +€7,251 | +196% |
| Current assets | 29/58 | €254,444 | €266,528 | +€12,084 | +4.7% |
| Amounts receivable within one year | 40/41 | €124,576 | €72,551 | -€52,025 | -41.8% |
| Trade receivables | 40 | €118,557 | €70,436 | -€48,121 | -40.6% |
| Other amounts receivable | 41 | €6,019 | €2,114 | -€3,905 | -64.9% |
| Cash at bank and in hand | 54/58 | €114,681 | €180,624 | +€65,944 | +57.5% |
| Deferred charges and accrued income | 490/1 | €15,187 | €13,353 | -€1,834 | -12.1% |
| Total equity and liabilities | 10/49 | €357,526 | €373,825 | +€16,300 | +4.6% |
| Equity | 10/15 | €243,239 | €261,361 | +€18,122 | +7.5% |
| Contributions | 10/11 | €74,620 | €74,620 | = | 0.0% |
| Reserves | 13 | €168,619 | €186,741 | +€18,122 | +10.7% |
| Distributable reserves | 133 | €168,619 | €186,741 | +€18,122 | +10.7% |
| Amounts payable | 17/49 | €114,286 | €112,465 | -€1,822 | -1.6% |
| Amounts payable within one year | 42/48 | €114,286 | €112,465 | -€1,822 | -1.6% |
| Trade debts | 44 | €43,761 | €40,006 | -€3,755 | -8.6% |
| Suppliers | 440/4 | €43,761 | €40,006 | -€3,755 | -8.6% |
| Taxes, remuneration and social security | 45 | €16,665 | €21,732 | +€5,067 | +30.4% |
| Taxes | 450/3 | €12,435 | €13,420 | +€985 | +7.9% |
| Remuneration and social security | 454/9 | €4,230 | €8,312 | +€4,081 | +96.5% |
| Other amounts payable | 47/48 | €53,861 | €50,727 | -€3,134 | -5.8% |
| Non-recurring operating income | 76A | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €297,506 | €224,594 | -€72,912 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,832 | €5,296 | -€3,536 | -40.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €48,625 | +€48,625 | |
| Other operating charges | 640/8 | €2,447 | €2,524 | +€77 | +3.2% |
| Gross operating margin | 9900 | €367,477 | €310,656 | -€56,821 | -15.5% |
| Operating profit (loss) | 9901 | €58,693 | €29,616 | -€29,076 | -49.5% |
| Financial income | 75/76B | €19 | - | -€19 | |
| Recurring financial income | 75 | €19 | - | -€19 | |
| Financial charges | 65/66B | €5,061 | €3,954 | -€1,107 | -21.9% |
| Recurring financial charges | 65 | €5,061 | €3,954 | -€1,107 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €53,651 | €25,663 | -€27,988 | -52.2% |
| Income taxes | 67/77 | €14,879 | €7,541 | -€7,337 | -49.3% |
| Profit (loss) for the period | 9904 | €38,772 | €18,122 | -€20,650 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,772 | €18,122 | -€20,650 | -53.3% |
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 27 October 2026 via checked.be.