AD-RENOBAD: 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.
AD-RENOBAD
Largest movements
- Tangible fixed assets -€172,455
down €172,455 (-100.0%), from €172,455 to €0
of which Land and buildings: -€171,441
- Cash +€10,304
up €10,304 (+2,596%), from €397 to €10,701
mainly Investment in fixed assets (net) (+€171,640) and Net result for the year (+€97,703)
- Debts after one year -€244,581
down €244,581 (-78.2%), from €312,565 to €67,985
of which Financial debts: -€144,379
- Profit (loss) carried forward +€97,703
up €97,703 (+60.9%), from -€160,540 to -€62,837
- Current portion of long-term debt -€13,170
down €13,170 (-100%), from €13,170 to €0
- Gross operating margin +€96,501
up €96,501 (+970%), from €9,946 to €106,448
- Depreciation -€15,179
down €15,179 (-94.9%), from €15,993 to €815
- Financial charges -€1,413
down €1,413 (-31.1%), from €4,551 to €3,138
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 | €185,657 | €24,110 | -€161,548 | -87.0% |
| Fixed assets | 21/28 | €172,455 | €0 | -€172,455 | -100.0% |
| Tangible fixed assets | 22/27 | €172,455 | €0 | -€172,455 | -100.0% |
| Land and buildings | 22 | €171,441 | €0 | -€171,441 | -100% |
| Plant, machinery and equipment | 23 | €58 | €0 | -€58 | -100% |
| Furniture and vehicles | 24 | €956 | €0 | -€956 | -100.0% |
| Current assets | 29/58 | €13,202 | €24,109 | +€10,907 | +82.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €12,107 | €12,568 | +€461 | +3.8% |
| Trade receivables | 40 | €11,594 | €12,285 | +€691 | +6.0% |
| Other amounts receivable | 41 | €513 | €282 | -€230 | -45.0% |
| Cash at bank and in hand | 54/58 | €397 | €10,701 | +€10,304 | +2,596% |
| Deferred charges and accrued income | 490/1 | €699 | €841 | +€142 | +20.3% |
| Total equity and liabilities | 10/49 | €185,657 | €24,110 | -€161,548 | -87.0% |
| Equity | 10/15 | -€141,940 | -€44,237 | +€97,703 | +68.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,540 | -€62,837 | +€97,703 | +60.9% |
| Amounts payable | 17/49 | €327,597 | €68,347 | -€259,251 | -79.1% |
| Amounts payable after more than one year | 17 | €312,565 | €67,985 | -€244,581 | -78.2% |
| Financial debts | 170/4 | €144,379 | €0 | -€144,379 | -100% |
| Other amounts payable | 178/9 | €168,186 | €67,985 | -€100,202 | -59.6% |
| Amounts payable within one year | 42/48 | €15,032 | €362 | -€14,670 | -97.6% |
| Current portion of amounts payable after more than one year | 42 | €13,170 | €0 | -€13,170 | -100% |
| Trade debts | 44 | €1,291 | €199 | -€1,092 | -84.6% |
| Suppliers | 440/4 | €1,291 | €199 | -€1,092 | -84.6% |
| Taxes, remuneration and social security | 45 | €556 | €163 | -€393 | -70.6% |
| Taxes | 450/3 | €556 | €163 | -€393 | -70.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €16 | €0 | -€16 | -100% |
| Non-recurring operating income | 76A | - | €118,501 | +€118,501 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,993 | €815 | -€15,179 | -94.9% |
| Other operating charges | 640/8 | €4,441 | €3,988 | -€453 | -10.2% |
| Non-recurring operating charges | 66A | - | €141 | +€141 | |
| Gross operating margin | 9900 | €9,946 | €106,448 | +€96,501 | +970% |
| Operating profit (loss) | 9901 | -€10,488 | €101,504 | +€111,992 | |
| Financial income | 75/76B | €164 | €0 | -€164 | -100.0% |
| Recurring financial income | 75 | €164 | €0 | -€164 | -100.0% |
| Financial charges | 65/66B | €4,551 | €3,138 | -€1,413 | -31.1% |
| Recurring financial charges | 65 | €4,551 | €3,138 | -€1,413 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | -€14,875 | €98,366 | +€113,241 | |
| Income taxes | 67/77 | €554 | €663 | +€109 | +19.7% |
| Profit (loss) for the period | 9904 | -€15,429 | €97,703 | +€113,132 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,429 | €97,703 | +€113,132 |
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.