BOJAN RENOV: what changed
BOJAN RENOV
Largest movements
- Receivables within one year +€10,650
up €10,650 (+30.4%), from €35,087 to €45,736
of which Trade receivables: +€9,896
- Cash -€3,674
down €3,674 (-61.7%), from €5,953 to €2,279
mainly Receivables within one year (-€10,650) and Trade debts (-€641)
- Profit (loss) carried forward +€4,910
up €4,910 (+23.5%), from €20,883 to €25,793
- Tax, wage and social debts +€2,155
new in 2025: €2,155
- Trade debts -€641
down €641 (-51.9%), from €1,234 to €593
- Gross operating margin +€2,148
up €2,148 (+36.8%), from €5,838 to €7,985
- Taxes +€1,723
up €1,723 (+399%), from €432 to €2,155
- Other operating charges -€1,051
down €1,051 (-72.4%), from €1,451 to €400
- Financial charges -€210
down €210 (-56.4%), from €372 to €162
- Depreciation -€121
down €121 (-25.3%), from €479 to €358
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,717 | €49,141 | +€6,424 | +15.0% |
| Fixed assets | 21/28 | €680 | €322 | -€358 | -52.7% |
| Tangible fixed assets | 22/27 | €680 | €322 | -€358 | -52.7% |
| Furniture and vehicles | 24 | €680 | €322 | -€358 | -52.7% |
| Current assets | 29/58 | €42,037 | €48,819 | +€6,782 | +16.1% |
| Amounts receivable within one year | 40/41 | €35,087 | €45,736 | +€10,650 | +30.4% |
| Trade receivables | 40 | €6,105 | €16,001 | +€9,896 | +162% |
| Other amounts receivable | 41 | €28,982 | €29,735 | +€754 | +2.6% |
| Cash at bank and in hand | 54/58 | €5,953 | €2,279 | -€3,674 | -61.7% |
| Deferred charges and accrued income | 490/1 | €997 | €804 | -€193 | -19.4% |
| Total equity and liabilities | 10/49 | €42,717 | €49,141 | +€6,424 | +15.0% |
| Equity | 10/15 | €41,483 | €46,393 | +€4,910 | +11.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €8,200 | €8,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,200 | €8,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,883 | €25,793 | +€4,910 | +23.5% |
| Amounts payable | 17/49 | €1,234 | €2,748 | +€1,514 | +123% |
| Amounts payable within one year | 42/48 | €1,234 | €2,748 | +€1,514 | +123% |
| Trade debts | 44 | €1,234 | €593 | -€641 | -51.9% |
| Suppliers | 440/4 | €1,234 | €593 | -€641 | -51.9% |
| Taxes, remuneration and social security | 45 | - | €2,155 | +€2,155 | |
| Taxes | 450/3 | - | €2,155 | +€2,155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €479 | €358 | -€121 | -25.3% |
| Other operating charges | 640/8 | €1,451 | €400 | -€1,051 | -72.4% |
| Gross operating margin | 9900 | €5,838 | €7,985 | +€2,148 | +36.8% |
| Operating profit (loss) | 9901 | €3,908 | €7,227 | +€3,320 | +85.0% |
| Financial charges | 65/66B | €372 | €162 | -€210 | -56.4% |
| Recurring financial charges | 65 | €372 | €162 | -€210 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | €3,536 | €7,065 | +€3,529 | +99.8% |
| Income taxes | 67/77 | €432 | €2,155 | +€1,723 | +399% |
| Profit (loss) for the period | 9904 | €3,104 | €4,910 | +€1,806 | +58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,104 | €4,910 | +€1,806 | +58.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.