ANDRE 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.
ANDRE RENOV
Largest movements
- Cash -€43,600
down €43,600 (-52.7%), from €82,680 to €39,079
mainly Net result for the year (-€39,032) and Investment in fixed assets (net) (-€11,954)
- Tangible fixed assets +€11,664
up €11,664 (+1,191%), from €979 to €12,644
of which Land and buildings: +€11,664
- Receivables within one year -€8,032
down €8,032 (-32.1%), from €24,996 to €16,964
of which Trade receivables: -€7,828
- Profit (loss) carried forward -€39,032
down €39,032 (-50.7%), from €76,921 to €37,889
- Gross operating margin -€31,272
down €31,272 (-31.6%), from €99,082 to €67,810
- Staff costs +€5,908
up €5,908 (+6.0%), from €98,569 to €104,477
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 | €111,696 | €71,379 | -€40,318 | -36.1% |
| Fixed assets | 21/28 | €1,246 | €12,910 | +€11,664 | +936% |
| Tangible fixed assets | 22/27 | €979 | €12,644 | +€11,664 | +1,191% |
| Land and buildings | 22 | - | €11,664 | +€11,664 | |
| Plant, machinery and equipment | 23 | €979 | €979 | = | 0.0% |
| Financial fixed assets | 28 | €267 | €267 | = | 0.0% |
| Current assets | 29/58 | €110,450 | €58,468 | -€51,982 | -47.1% |
| Amounts receivable within one year | 40/41 | €24,996 | €16,964 | -€8,032 | -32.1% |
| Trade receivables | 40 | €21,289 | €13,461 | -€7,828 | -36.8% |
| Other amounts receivable | 41 | €3,706 | €3,502 | -€204 | -5.5% |
| Cash at bank and in hand | 54/58 | €82,680 | €39,079 | -€43,600 | -52.7% |
| Deferred charges and accrued income | 490/1 | €2,775 | €2,425 | -€350 | -12.6% |
| Total equity and liabilities | 10/49 | €111,696 | €71,379 | -€40,318 | -36.1% |
| Equity | 10/15 | €98,359 | €59,326 | -€39,032 | -39.7% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €1,606 | €1,606 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,606 | €1,606 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,606 | €1,606 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,921 | €37,889 | -€39,032 | -50.7% |
| Amounts payable | 17/49 | €13,337 | €12,052 | -€1,285 | -9.6% |
| Amounts payable within one year | 42/48 | €13,337 | €12,052 | -€1,285 | -9.6% |
| Trade debts | 44 | €4,022 | €3,696 | -€326 | -8.1% |
| Suppliers | 440/4 | €4,022 | €3,696 | -€326 | -8.1% |
| Taxes, remuneration and social security | 45 | €9,316 | €8,357 | -€959 | -10.3% |
| Taxes | 450/3 | €2,360 | - | -€2,360 | |
| Remuneration and social security | 454/9 | €6,956 | €8,357 | +€1,401 | +20.1% |
| Remuneration, social security and pensions | 62 | €98,569 | €104,477 | +€5,908 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140 | €290 | +€150 | +107% |
| Other operating charges | 640/8 | €971 | €1,554 | +€584 | +60.1% |
| Gross operating margin | 9900 | €99,082 | €67,810 | -€31,272 | -31.6% |
| Operating profit (loss) | 9901 | -€597 | -€38,511 | -€37,914 | -6,350% |
| Financial charges | 65/66B | €143 | €347 | +€203 | +142% |
| Recurring financial charges | 65 | €143 | €347 | +€203 | +142% |
| Profit (loss) for the period before taxes | 9903 | -€740 | -€38,857 | -€38,117 | -5,150% |
| Income taxes | 67/77 | - | €175 | +€175 | |
| Profit (loss) for the period | 9904 | -€740 | -€39,032 | -€38,292 | -5,173% |
| Profit (loss) for the period to be appropriated | 9905 | -€740 | -€39,032 | -€38,292 | -5,173% |
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 22 October 2026 via checked.be.