The Rendereer: 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.
The Rendereer
Largest movements
- Cash +€21,813
up €21,813 (+473%), from €4,615 to €26,428
mainly Other debts (+€15,205) and Net result for the year (+€11,933)
- Receivables within one year +€4,047
up €4,047 (+26.0%), from €15,553 to €19,600
of which Trade receivables: +€4,047
- Other debts +€15,205
up €15,205 (+90.4%), from €16,824 to €32,029
- Profit (loss) carried forward +€7,927
no longer reported in 2025 (was -€7,927)
- Tax, wage and social debts +€3,357
up €3,357 (+43.9%), from €7,641 to €10,998
of which Remuneration and social security: +€3,240
- Trade debts -€935
no longer reported in 2025 (was €935)
- Gross operating margin +€12,966
up €12,966 (+1,051%), from €1,234 to €14,200
- Staff costs +€480
up €480 (+50.0%), from €960 to €1,440
- Depreciation -€283
down €283 (-48.1%), from €588 to €305
- Other operating charges +€246
up €246 (+159%), from €154 to €400
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 | €20,473 | €46,028 | +€25,555 | +125% |
| Fixed assets | 21/28 | €305 | €0 | -€305 | -100% |
| Tangible fixed assets | 22/27 | €305 | €0 | -€305 | -100% |
| Plant, machinery and equipment | 23 | €225 | €0 | -€225 | -100% |
| Furniture and vehicles | 24 | €80 | €0 | -€80 | -100% |
| Current assets | 29/58 | €20,168 | €46,028 | +€25,860 | +128% |
| Amounts receivable within one year | 40/41 | €15,553 | €19,600 | +€4,047 | +26.0% |
| Trade receivables | 40 | €12,553 | €16,600 | +€4,047 | +32.2% |
| Other amounts receivable | 41 | €3,000 | €3,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,615 | €26,428 | +€21,813 | +473% |
| Total equity and liabilities | 10/49 | €20,473 | €46,028 | +€25,555 | +125% |
| Equity | 10/15 | -€4,927 | €3,000 | +€7,927 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,927 | - | +€7,927 | |
| Amounts payable | 17/49 | €25,400 | €43,028 | +€17,628 | +69.4% |
| Amounts payable within one year | 42/48 | €25,400 | €43,028 | +€17,628 | +69.4% |
| Trade debts | 44 | €935 | - | -€935 | |
| Suppliers | 440/4 | €935 | - | -€935 | |
| Taxes, remuneration and social security | 45 | €7,641 | €10,998 | +€3,357 | +43.9% |
| Taxes | 450/3 | €3,441 | €3,558 | +€117 | +3.4% |
| Remuneration and social security | 454/9 | €4,200 | €7,440 | +€3,240 | +77.1% |
| Other amounts payable | 47/48 | €16,824 | €32,029 | +€15,205 | +90.4% |
| Remuneration, social security and pensions | 62 | €960 | €1,440 | +€480 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €588 | €305 | -€283 | -48.1% |
| Other operating charges | 640/8 | €154 | €400 | +€246 | +159% |
| Gross operating margin | 9900 | €1,234 | €14,200 | +€12,966 | +1,051% |
| Operating profit (loss) | 9901 | -€468 | €12,056 | +€12,524 | |
| Financial income | 75/76B | €1 | €2 | +€1 | +220% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +220% |
| Financial charges | 65/66B | €83 | €125 | +€41 | +49.2% |
| Recurring financial charges | 65 | €83 | €125 | +€41 | +49.2% |
| Profit (loss) for the period before taxes | 9903 | -€551 | €11,933 | +€12,484 | |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€551 | €11,933 | +€12,484 | |
| Profit (loss) for the period to be appropriated | 9905 | -€551 | €11,933 | +€12,484 |
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 14 October 2026 via checked.be.