AS 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.
AS RENOV
Largest movements
- Cash -€72,348
down €72,348 (-37.6%), from €192,166 to €119,819
mainly Accrued charges and deferred income (-€154,177) and Receivables within one year (-€63,872)
- Receivables within one year +€63,872
up €63,872 (+29.4%), from €217,294 to €281,166
of which Other amounts receivable: +€82,077
- Reserves +€293,525
up €293,525 (+180%), from €162,898 to €456,422
of which Distributable reserves: +€293,525
- Accrued charges and deferred income -€154,177
no longer reported in 2025 (was €154,177)
- Debts after one year -€49,229
down €49,229 (-7.0%), from €700,883 to €651,654
- Trade debts -€31,350
down €31,350 (-33.1%), from €94,749 to €63,399
- Short-term financial debts -€31,199
down €31,199 (-29.8%), from €104,564 to €73,365
- Other operating charges -€103,015
down €103,015 (-88.7%), from €116,135 to €13,120
- Gross operating margin +€98,490
up €98,490 (+18.3%), from €537,874 to €636,365
- Taxes +€38,007
up €38,007 (+69.2%), from €54,924 to €92,931
- Financial charges +€28,769
up €28,769 (+406%), from €7,090 to €35,860
- Depreciation +€24,312
up €24,312 (+56.9%), from €42,690 to €67,002
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 | €1,344,265 | €1,321,729 | -€22,536 | -1.7% |
| Fixed assets | 21/28 | €900,267 | €890,744 | -€9,523 | -1.1% |
| Tangible fixed assets | 22/27 | €900,267 | €890,744 | -€9,523 | -1.1% |
| Land and buildings | 22 | €819,129 | €833,334 | +€14,205 | +1.7% |
| Plant, machinery and equipment | 23 | €10,959 | €11,745 | +€787 | +7.2% |
| Furniture and vehicles | 24 | €70,180 | €45,665 | -€24,515 | -34.9% |
| Current assets | 29/58 | €443,998 | €430,985 | -€13,013 | -2.9% |
| Amounts receivable within one year | 40/41 | €217,294 | €281,166 | +€63,872 | +29.4% |
| Trade receivables | 40 | €106,889 | €88,684 | -€18,205 | -17.0% |
| Other amounts receivable | 41 | €110,405 | €192,483 | +€82,077 | +74.3% |
| Cash at bank and in hand | 54/58 | €192,166 | €119,819 | -€72,348 | -37.6% |
| Deferred charges and accrued income | 490/1 | €34,537 | €30,000 | -€4,537 | -13.1% |
| Total equity and liabilities | 10/49 | €1,344,265 | €1,321,729 | -€22,536 | -1.7% |
| Equity | 10/15 | €172,898 | €466,422 | +€293,525 | +170% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €162,898 | €456,422 | +€293,525 | +180% |
| Non-distributable reserves | 130/1 | €297 | €297 | = | 0.0% |
| Legal reserve | 130 | €297 | €297 | = | 0.0% |
| Distributable reserves | 133 | €162,600 | €456,125 | +€293,525 | +181% |
| Amounts payable | 17/49 | €1,171,368 | €855,307 | -€316,061 | -27.0% |
| Amounts payable after more than one year | 17 | €700,883 | €651,654 | -€49,229 | -7.0% |
| Financial debts | 170/4 | €700,883 | €651,654 | -€49,229 | -7.0% |
| Amounts payable within one year | 42/48 | €316,308 | €203,653 | -€112,655 | -35.6% |
| Current portion of amounts payable after more than one year | 42 | €47,911 | €49,688 | +€1,777 | +3.7% |
| Financial debts | 43 | €104,564 | €73,365 | -€31,199 | -29.8% |
| Credit institutions | 430/8 | €104,564 | €73,365 | -€31,199 | -29.8% |
| Trade debts | 44 | €94,749 | €63,399 | -€31,350 | -33.1% |
| Suppliers | 440/4 | €94,749 | €63,399 | -€31,350 | -33.1% |
| Taxes, remuneration and social security | 45 | €27,364 | - | -€27,364 | |
| Taxes | 450/3 | €26,803 | - | -€26,803 | |
| Remuneration and social security | 454/9 | €561 | - | -€561 | |
| Other amounts payable | 47/48 | €41,719 | €17,200 | -€24,519 | -58.8% |
| Accrued charges and deferred income | 492/3 | €154,177 | - | -€154,177 | |
| Remuneration, social security and pensions | 62 | €133,833 | €133,928 | +€95 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,690 | €67,002 | +€24,312 | +56.9% |
| Other operating charges | 640/8 | €116,135 | €13,120 | -€103,015 | -88.7% |
| Gross operating margin | 9900 | €537,874 | €636,365 | +€98,490 | +18.3% |
| Operating profit (loss) | 9901 | €245,217 | €422,316 | +€177,099 | +72.2% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €7,090 | €35,860 | +€28,769 | +406% |
| Recurring financial charges | 65 | €7,090 | €35,860 | +€28,769 | +406% |
| Profit (loss) for the period before taxes | 9903 | €238,132 | €386,456 | +€148,324 | +62.3% |
| Income taxes | 67/77 | €54,924 | €92,931 | +€38,007 | +69.2% |
| Profit (loss) for the period | 9904 | €183,208 | €293,525 | +€110,316 | +60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €183,208 | €293,525 | +€110,316 | +60.2% |
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 20 October 2026 via checked.be.