AAD RENOV: what changed
AAD RENOV
Largest movements
- Tangible fixed assets +€22,356
up €22,356 (+38.1%), from €58,750 to €81,106
of which Furniture and vehicles: +€24,681
- Receivables within one year -€12,776
down €12,776 (-33.9%), from €37,724 to €24,947
of which Trade receivables: -€8,598
- Cash -€3,869
down €3,869 (-52.1%), from €7,428 to €3,559
mainly Investment in fixed assets (net) (-€35,827) and Tax, wage and social debts (-€5,641)
- Deferred charges and accrued income +€1,247
new in 2025: €1,247
- Profit (loss) carried forward +€12,962
up €12,962, from -€8,842 to €4,120
- Current portion of long-term debt +€8,969
up €8,969 (+131%), from €6,859 to €15,829
- Tax, wage and social debts -€5,641
down €5,641 (-25.8%), from €21,876 to €16,235
of which Taxes: -€8,591
- Accrued charges and deferred income -€3,924
no longer reported in 2025 (was €3,924)
- Debts after one year -€3,207
down €3,207 (-16.2%), from €19,834 to €16,627
- Depreciation -€7,246
down €7,246 (-35.0%), from €20,718 to €13,472
- Taxes -€2,225
down €2,225 (-27.8%), from €7,998 to €5,773
- Gross operating margin -€2,186
down €2,186 (-5.6%), from €39,242 to €37,056
- Other operating charges -€1,751
down €1,751 (-37.9%), from €4,613 to €2,862
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €103,902 | €110,859 | +€6,957 | +6.7% |
| Fixed assets | 21/28 | €58,750 | €81,106 | +€22,356 | +38.1% |
| Tangible fixed assets | 22/27 | €58,750 | €81,106 | +€22,356 | +38.1% |
| Land and buildings | 22 | €39,418 | €37,734 | -€1,684 | -4.3% |
| Plant, machinery and equipment | 23 | €695 | €53 | -€642 | -92.3% |
| Furniture and vehicles | 24 | €18,637 | €43,319 | +€24,681 | +132% |
| Current assets | 29/58 | €45,152 | €29,754 | -€15,398 | -34.1% |
| Amounts receivable within one year | 40/41 | €37,724 | €24,947 | -€12,776 | -33.9% |
| Trade receivables | 40 | €32,124 | €23,527 | -€8,598 | -26.8% |
| Other amounts receivable | 41 | €5,599 | €1,420 | -€4,179 | -74.6% |
| Cash at bank and in hand | 54/58 | €7,428 | €3,559 | -€3,869 | -52.1% |
| Deferred charges and accrued income | 490/1 | - | €1,247 | +€1,247 | |
| Total equity and liabilities | 10/49 | €103,902 | €110,859 | +€6,957 | +6.7% |
| Equity | 10/15 | €27,318 | €40,280 | +€12,962 | +47.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €26,159 | €26,159 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,308 | €1,308 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,308 | €1,308 | = | 0.0% |
| Distributable reserves | 133 | €24,851 | €24,851 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,842 | €4,120 | +€12,962 | |
| Amounts payable | 17/49 | €76,584 | €70,579 | -€6,005 | -7.8% |
| Amounts payable after more than one year | 17 | €19,834 | €16,627 | -€3,207 | -16.2% |
| Financial debts | 170/4 | €19,834 | €16,627 | -€3,207 | -16.2% |
| Amounts payable within one year | 42/48 | €52,827 | €53,953 | +€1,126 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €6,859 | €15,829 | +€8,969 | +131% |
| Trade debts | 44 | €8,342 | €5,504 | -€2,837 | -34.0% |
| Suppliers | 440/4 | €8,342 | €5,504 | -€2,837 | -34.0% |
| Taxes, remuneration and social security | 45 | €21,876 | €16,235 | -€5,641 | -25.8% |
| Taxes | 450/3 | €21,876 | €13,285 | -€8,591 | -39.3% |
| Remuneration and social security | 454/9 | - | €2,950 | +€2,950 | |
| Other amounts payable | 47/48 | €15,750 | €16,385 | +€635 | +4.0% |
| Accrued charges and deferred income | 492/3 | €3,924 | - | -€3,924 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,718 | €13,472 | -€7,246 | -35.0% |
| Other operating charges | 640/8 | €4,613 | €2,862 | -€1,751 | -37.9% |
| Gross operating margin | 9900 | €39,242 | €37,056 | -€2,186 | -5.6% |
| Operating profit (loss) | 9901 | €13,911 | €20,721 | +€6,811 | +49.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -64.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -64.0% |
| Financial charges | 65/66B | €1,864 | €1,987 | +€122 | +6.6% |
| Recurring financial charges | 65 | €1,864 | €1,987 | +€122 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €12,047 | €18,735 | +€6,688 | +55.5% |
| Income taxes | 67/77 | €7,998 | €5,773 | -€2,225 | -27.8% |
| Profit (loss) for the period | 9904 | €4,049 | €12,962 | +€8,913 | +220% |
| Profit (loss) for the period to be appropriated | 9905 | €4,049 | €12,962 | +€8,913 | +220% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.