AV 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.
AV RENOV
Largest movements
- Receivables within one year +€34,785
up €34,785 (+322%), from €10,812 to €45,596
of which Trade receivables: +€33,771
- Cash -€27,943
down €27,943 (-85.4%), from €32,709 to €4,766
mainly Receivables within one year (-€34,785) and Current investments (-€20,000)
- Current investments +€20,000
new in 2025: €20,000
- Tangible fixed assets +€2,110
up €2,110 (+53.0%), from €3,983 to €6,093
of which Plant, machinery and equipment: +€2,469
- Profit (loss) carried forward +€31,826
up €31,826 (+141%), from €22,640 to €54,466
- Trade debts -€5,049
down €5,049 (-48.5%), from €10,404 to €5,355
- Tax, wage and social debts +€3,767
up €3,767 (+79.8%), from €4,720 to €8,487
- Other debts -€1,592
down €1,592 (-19.3%), from €8,240 to €6,647
- Gross operating margin +€23,351
up €23,351 (+105%), from €22,211 to €45,562
- Taxes +€6,103
up €6,103 (+256%), from €2,384 to €8,487
- Staff costs -€5,570
down €5,570 (-80.4%), from €6,925 to €1,355
- Depreciation +€975
up €975 (+61.9%), from €1,575 to €2,551
- Financial charges -€478
down €478 (-28.5%), from €1,678 to €1,200
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 | €47,504 | €76,456 | +€28,952 | +60.9% |
| Fixed assets | 21/28 | €3,983 | €6,093 | +€2,110 | +53.0% |
| Tangible fixed assets | 22/27 | €3,983 | €6,093 | +€2,110 | +53.0% |
| Plant, machinery and equipment | 23 | €2,655 | €5,124 | +€2,469 | +93.0% |
| Furniture and vehicles | 24 | €1,328 | €970 | -€359 | -27.0% |
| Current assets | 29/58 | €43,521 | €70,363 | +€26,842 | +61.7% |
| Amounts receivable within one year | 40/41 | €10,812 | €45,596 | +€34,785 | +322% |
| Trade receivables | 40 | €10,766 | €44,537 | +€33,771 | +314% |
| Other amounts receivable | 41 | €46 | €1,059 | +€1,013 | +2,185% |
| Current investments | 50/53 | - | €20,000 | +€20,000 | |
| Cash at bank and in hand | 54/58 | €32,709 | €4,766 | -€27,943 | -85.4% |
| Total equity and liabilities | 10/49 | €47,504 | €76,456 | +€28,952 | +60.9% |
| Equity | 10/15 | €24,140 | €55,966 | +€31,826 | +132% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,640 | €54,466 | +€31,826 | +141% |
| Amounts payable | 17/49 | €23,364 | €20,490 | -€2,874 | -12.3% |
| Amounts payable within one year | 42/48 | €23,364 | €20,490 | -€2,874 | -12.3% |
| Trade debts | 44 | €10,404 | €5,355 | -€5,049 | -48.5% |
| Suppliers | 440/4 | €10,404 | €5,355 | -€5,049 | -48.5% |
| Taxes, remuneration and social security | 45 | €4,720 | €8,487 | +€3,767 | +79.8% |
| Taxes | 450/3 | €4,720 | €8,487 | +€3,767 | +79.8% |
| Other amounts payable | 47/48 | €8,240 | €6,647 | -€1,592 | -19.3% |
| Remuneration, social security and pensions | 62 | €6,925 | €1,355 | -€5,570 | -80.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,575 | €2,551 | +€975 | +61.9% |
| Other operating charges | 640/8 | €149 | €149 | = | 0.0% |
| Non-recurring operating charges | 66A | €95 | - | -€95 | |
| Gross operating margin | 9900 | €22,211 | €45,562 | +€23,351 | +105% |
| Operating profit (loss) | 9901 | €13,466 | €41,508 | +€28,042 | +208% |
| Financial income | 75/76B | €0 | €6 | +€6 | +14,150% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +14,150% |
| Financial charges | 65/66B | €1,678 | €1,200 | -€478 | -28.5% |
| Recurring financial charges | 65 | €1,678 | €1,200 | -€478 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €11,788 | €40,313 | +€28,525 | +242% |
| Income taxes | 67/77 | €2,384 | €8,487 | +€6,103 | +256% |
| Profit (loss) for the period | 9904 | €9,404 | €31,826 | +€22,422 | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €9,404 | €31,826 | +€22,422 | +238% |
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 24 October 2026 via checked.be.