YVES RENARD: 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.
YVES RENARD
Largest movements
- Stocks and contracts -€69,080
down €69,080 (-21.2%), from €325,718 to €256,637
- Receivables within one year +€23,116
up €23,116 (+11.9%), from €194,255 to €217,372
of which Other amounts receivable: +€33,593
- Cash +€11,429
up €11,429 (+94.5%), from €12,096 to €23,526
mainly Stocks and contracts (+€69,080) and Net result for the year (+€12,625)
- Tangible fixed assets -€7,703
down €7,703 (-48.8%), from €15,795 to €8,091
- Other debts -€31,189
down €31,189 (-12.2%), from €255,878 to €224,689
- Accrued charges and deferred income -€16,113
down €16,113 (-100%), from €16,113 to €0
- Profit (loss) carried forward +€12,625
up €12,625 (+50.2%), from -€25,161 to -€12,536
- Trade debts -€7,099
down €7,099 (-30.4%), from €23,349 to €16,251
- Gross operating margin -€43,806
down €43,806 (-48.4%), from €90,492 to €46,685
- Staff costs -€41,342
down €41,342 (-100%), from €41,342 to €0
- Financial charges -€23,114
down €23,114 (-52.7%), from €43,875 to €20,761
- Write-downs +€4,702
new in 2025: €4,702
- Financial income -€1,991
down €1,991 (-30.0%), from €6,638 to €4,646
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 | €554,297 | €509,776 | -€44,521 | -8.0% |
| Fixed assets | 21/28 | €18,847 | €11,091 | -€7,756 | -41.2% |
| Tangible fixed assets | 22/27 | €15,795 | €8,091 | -€7,703 | -48.8% |
| Furniture and vehicles | 24 | €15,795 | €8,091 | -€7,703 | -48.8% |
| Financial fixed assets | 28 | €3,053 | €3,000 | -€53 | -1.7% |
| Current assets | 29/58 | €535,450 | €498,684 | -€36,765 | -6.9% |
| Stocks and contracts in progress | 3 | €325,718 | €256,637 | -€69,080 | -21.2% |
| Stocks | 30/36 | €325,718 | €256,637 | -€69,080 | -21.2% |
| Amounts receivable within one year | 40/41 | €194,255 | €217,372 | +€23,116 | +11.9% |
| Trade receivables | 40 | €62,137 | €51,661 | -€10,477 | -16.9% |
| Other amounts receivable | 41 | €132,118 | €165,711 | +€33,593 | +25.4% |
| Cash at bank and in hand | 54/58 | €12,096 | €23,526 | +€11,429 | +94.5% |
| Deferred charges and accrued income | 490/1 | €3,381 | €1,150 | -€2,231 | -66.0% |
| Total equity and liabilities | 10/49 | €554,297 | €509,776 | -€44,521 | -8.0% |
| Equity | 10/15 | €26,939 | €39,564 | +€12,625 | +46.9% |
| Contributions | 10/11 | €52,100 | €52,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,161 | -€12,536 | +€12,625 | +50.2% |
| Amounts payable | 17/49 | €527,358 | €470,212 | -€57,146 | -10.8% |
| Amounts payable within one year | 42/48 | €511,245 | €470,212 | -€41,033 | -8.0% |
| Financial debts | 43 | €225,000 | €225,000 | = | 0.0% |
| Credit institutions | 430/8 | €225,000 | €200,000 | -€25,000 | -11.1% |
| Other loans | 439 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €23,349 | €16,251 | -€7,099 | -30.4% |
| Suppliers | 440/4 | €23,349 | €16,251 | -€7,099 | -30.4% |
| Taxes, remuneration and social security | 45 | €7,018 | €4,272 | -€2,745 | -39.1% |
| Taxes | 450/3 | €6,924 | €4,272 | -€2,652 | -38.3% |
| Remuneration and social security | 454/9 | €93 | €0 | -€93 | -100% |
| Other amounts payable | 47/48 | €255,878 | €224,689 | -€31,189 | -12.2% |
| Accrued charges and deferred income | 492/3 | €16,113 | €0 | -€16,113 | -100% |
| Remuneration, social security and pensions | 62 | €41,342 | €0 | -€41,342 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,982 | €7,703 | +€721 | +10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,702 | +€4,702 | |
| Other operating charges | 640/8 | €1,364 | €1,511 | +€147 | +10.8% |
| Non-recurring operating charges | 66A | - | €3,138 | +€3,138 | |
| Gross operating margin | 9900 | €90,492 | €46,685 | -€43,806 | -48.4% |
| Operating profit (loss) | 9901 | €40,803 | €29,631 | -€11,172 | -27.4% |
| Financial income | 75/76B | €6,638 | €4,646 | -€1,991 | -30.0% |
| Recurring financial income | 75 | €6,638 | €4,646 | -€1,991 | -30.0% |
| Financial charges | 65/66B | €43,875 | €20,761 | -€23,114 | -52.7% |
| Recurring financial charges | 65 | €43,875 | €20,761 | -€23,114 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €3,566 | €13,516 | +€9,950 | +279% |
| Income taxes | 67/77 | €758 | €891 | +€133 | +17.5% |
| Profit (loss) for the period | 9904 | €2,807 | €12,625 | +€9,818 | +350% |
| Profit (loss) for the period to be appropriated | 9905 | €2,807 | €12,625 | +€9,818 | +350% |
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.