BALA 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.
BALA RENOV
Largest movements
- Cash +€14,657
up €14,657 (+13.5%), from €108,682 to €123,339
mainly Net result for the year (+€13,900) and Depreciation (+€13,456)
- Tangible fixed assets -€13,456
down €13,456 (-3.4%), from €399,361 to €385,905
of which Land and buildings: -€10,615
- Profit (loss) carried forward +€13,900
up €13,900 (+7.3%), from €189,164 to €203,064
- Debts after one year -€10,303
down €10,303 (-3.8%), from €274,654 to €264,351
- Current portion of long-term debt -€10,000
no longer reported in 2025 (was €10,000)
- Trade debts +€6,400
up €6,400 (+107%), from €5,987 to €12,387
- Financial charges -€9,900
down €9,900 (-46.6%), from €21,243 to €11,343
- Gross operating margin -€8,540
down €8,540 (-7.9%), from €108,042 to €99,502
- Staff costs +€4,004
up €4,004 (+8.2%), from €49,037 to €53,041
- Other operating charges +€1,610
up €1,610 (+110%), from €1,470 to €3,080
- Depreciation +€1,394
up €1,394 (+11.6%), from €12,062 to €13,456
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 | €518,449 | €515,736 | -€2,713 | -0.5% |
| Fixed assets | 21/28 | €399,448 | €385,905 | -€13,543 | -3.4% |
| Tangible fixed assets | 22/27 | €399,361 | €385,905 | -€13,456 | -3.4% |
| Land and buildings | 22 | €391,658 | €381,043 | -€10,615 | -2.7% |
| Plant, machinery and equipment | 23 | €4,147 | €2,505 | -€1,642 | -39.6% |
| Furniture and vehicles | 24 | €3,556 | €2,357 | -€1,199 | -33.7% |
| Financial fixed assets | 28 | €87 | - | -€87 | |
| Current assets | 29/58 | €119,001 | €129,831 | +€10,830 | +9.1% |
| Amounts receivable within one year | 40/41 | €10,319 | €6,492 | -€3,827 | -37.1% |
| Trade receivables | 40 | €6,733 | €6,373 | -€360 | -5.3% |
| Other amounts receivable | 41 | €3,586 | €119 | -€3,467 | -96.7% |
| Cash at bank and in hand | 54/58 | €108,682 | €123,339 | +€14,657 | +13.5% |
| Total equity and liabilities | 10/49 | €518,449 | €515,736 | -€2,713 | -0.5% |
| Equity | 10/15 | €197,224 | €211,124 | +€13,900 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €189,164 | €203,064 | +€13,900 | +7.3% |
| Amounts payable | 17/49 | €321,225 | €304,612 | -€16,613 | -5.2% |
| Amounts payable after more than one year | 17 | €274,654 | €264,351 | -€10,303 | -3.8% |
| Financial debts | 170/4 | €274,654 | €264,351 | -€10,303 | -3.8% |
| Amounts payable within one year | 42/48 | €46,571 | €40,261 | -€6,310 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | - | -€10,000 | |
| Financial debts | 43 | €123 | - | -€123 | |
| Credit institutions | 430/8 | €123 | - | -€123 | |
| Trade debts | 44 | €5,987 | €12,387 | +€6,400 | +107% |
| Suppliers | 440/4 | €5,987 | €12,387 | +€6,400 | +107% |
| Taxes, remuneration and social security | 45 | €7,018 | €5,200 | -€1,818 | -25.9% |
| Taxes | 450/3 | €6,977 | €5,200 | -€1,777 | -25.5% |
| Remuneration and social security | 454/9 | €41 | - | -€41 | |
| Other amounts payable | 47/48 | €23,443 | €22,674 | -€769 | -3.3% |
| Non-recurring operating income | 76A | €28,991 | €45,964 | +€16,973 | +58.5% |
| Remuneration, social security and pensions | 62 | €49,037 | €53,041 | +€4,004 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,062 | €13,456 | +€1,394 | +11.6% |
| Other operating charges | 640/8 | €1,470 | €3,080 | +€1,610 | +110% |
| Gross operating margin | 9900 | €108,042 | €99,502 | -€8,540 | -7.9% |
| Operating profit (loss) | 9901 | €45,473 | €29,925 | -€15,548 | -34.2% |
| Financial income | 75/76B | €311 | €518 | +€207 | +66.6% |
| Recurring financial income | 75 | €311 | €518 | +€207 | +66.6% |
| Financial charges | 65/66B | €21,243 | €11,343 | -€9,900 | -46.6% |
| Recurring financial charges | 65 | €21,243 | €11,343 | -€9,900 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | €24,541 | €19,100 | -€5,441 | -22.2% |
| Income taxes | 67/77 | €5,969 | €5,200 | -€769 | -12.9% |
| Profit (loss) for the period | 9904 | €18,572 | €13,900 | -€4,672 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,572 | €13,900 | -€4,672 | -25.2% |
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 31 October 2026 via checked.be.