AC RENOV: 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.
AC RENOV
Largest movements
- Stocks and contracts -€210,020
down €210,020 (-38.2%), from €550,093 to €340,072
- Receivables within one year -€194,627
down €194,627 (-56.0%), from €347,693 to €153,065
of which Trade receivables: -€205,893
- Cash -€14,491
down €14,491 (-51.0%), from €28,427 to €13,936
mainly Trade debts (-€168,582) and Debts after one year (-€136,492)
- Deferred charges and accrued income +€14,292
up €14,292 (+1,222%), from €1,169 to €15,461
- Tangible fixed assets -€13,417
down €13,417 (-38.4%), from €34,947 to €21,530
of which Plant, machinery and equipment: -€9,764
- Trade debts -€168,582
down €168,582 (-54.8%), from €307,469 to €138,887
- Debts after one year -€136,492
down €136,492 (-97.4%), from €140,148 to €3,656
- Current portion of long-term debt -€117,507
down €117,507 (-45.7%), from €257,157 to €139,650
- Other debts +€66,533
up €66,533 (+104%), from €63,713 to €130,247
- Tax, wage and social debts -€59,479
down €59,479 (-78.4%), from €75,886 to €16,407
of which Remuneration and social security: -€50,843
- Gross operating margin -€162,274
down €162,274 (-36.7%), from €442,647 to €280,374
- Staff costs -€91,600
down €91,600 (-24.6%), from €371,918 to €280,318
- Taxes -€8,866
no longer reported in 2025 (was €8,866)
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 | €962,503 | €544,240 | -€418,264 | -43.5% |
| Fixed assets | 21/28 | €35,122 | €21,705 | -€13,417 | -38.2% |
| Tangible fixed assets | 22/27 | €34,947 | €21,530 | -€13,417 | -38.4% |
| Plant, machinery and equipment | 23 | €29,337 | €19,573 | -€9,764 | -33.3% |
| Furniture and vehicles | 24 | €5,610 | €1,957 | -€3,653 | -65.1% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €927,382 | €522,535 | -€404,847 | -43.7% |
| Stocks and contracts in progress | 3 | €550,093 | €340,072 | -€210,020 | -38.2% |
| Stocks | 30/36 | €550,093 | €340,072 | -€210,020 | -38.2% |
| Amounts receivable within one year | 40/41 | €347,693 | €153,065 | -€194,627 | -56.0% |
| Trade receivables | 40 | €307,007 | €101,114 | -€205,893 | -67.1% |
| Other amounts receivable | 41 | €40,685 | €51,951 | +€11,266 | +27.7% |
| Cash at bank and in hand | 54/58 | €28,427 | €13,936 | -€14,491 | -51.0% |
| Deferred charges and accrued income | 490/1 | €1,169 | €15,461 | +€14,292 | +1,222% |
| Total equity and liabilities | 10/49 | €962,503 | €544,240 | -€418,264 | -43.5% |
| Equity | 10/15 | €118,130 | €74,072 | -€44,058 | -37.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,130 | €12,072 | -€44,058 | -78.5% |
| Amounts payable | 17/49 | €844,373 | €470,167 | -€374,206 | -44.3% |
| Amounts payable after more than one year | 17 | €140,148 | €3,656 | -€136,492 | -97.4% |
| Financial debts | 170/4 | €140,148 | €3,656 | -€136,492 | -97.4% |
| Amounts payable within one year | 42/48 | €704,225 | €466,511 | -€237,714 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €257,157 | €139,650 | -€117,507 | -45.7% |
| Financial debts | 43 | - | €41,320 | +€41,320 | |
| Credit institutions | 430/8 | - | €41,320 | +€41,320 | |
| Trade debts | 44 | €307,469 | €138,887 | -€168,582 | -54.8% |
| Suppliers | 440/4 | €307,469 | €138,887 | -€168,582 | -54.8% |
| Taxes, remuneration and social security | 45 | €75,886 | €16,407 | -€59,479 | -78.4% |
| Taxes | 450/3 | €10,150 | €1,514 | -€8,636 | -85.1% |
| Remuneration and social security | 454/9 | €65,736 | €14,893 | -€50,843 | -77.3% |
| Other amounts payable | 47/48 | €63,713 | €130,247 | +€66,533 | +104% |
| Remuneration, social security and pensions | 62 | €371,918 | €280,318 | -€91,600 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,122 | €13,417 | +€295 | +2.2% |
| Other operating charges | 640/8 | €4,143 | €6,328 | +€2,185 | +52.7% |
| Non-recurring operating charges | 66A | €1,597 | - | -€1,597 | |
| Gross operating margin | 9900 | €442,647 | €280,374 | -€162,274 | -36.7% |
| Operating profit (loss) | 9901 | €51,868 | -€19,689 | -€71,557 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €22,070 | €24,368 | +€2,299 | +10.4% |
| Recurring financial charges | 65 | €22,070 | €24,368 | +€2,299 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €29,798 | -€44,058 | -€73,856 | |
| Income taxes | 67/77 | €8,866 | - | -€8,866 | |
| Profit (loss) for the period | 9904 | €20,932 | -€44,058 | -€64,989 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,932 | -€44,058 | -€64,989 |
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 26 October 2026 via checked.be.