C RENOVATIONS: 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.
C RENOVATIONS
Largest movements
- Receivables within one year -€104,700
down €104,700 (-20.7%), from €505,912 to €401,213
of which Trade receivables: -€410,946
- Cash -€14,940
down €14,940 (-73.0%), from €20,466 to €5,525
mainly Trade debts (-€297,282) and Investment in fixed assets (net) (-€5,348)
- Trade debts -€297,282
down €297,282 (-69.5%), from €427,941 to €130,658
- Other debts +€108,150
up €108,150 (+308%), from €35,096 to €143,246
- Reserves +€56,939
up €56,939 (+79.7%), from €71,419 to €128,358
- Accrued charges and deferred income +€14,700
new in 2025: €14,700
- Gross operating margin -€12,230
down €12,230 (-8.3%), from €147,789 to €135,560
- Taxes -€3,560
down €3,560 (-14.4%), from €24,675 to €21,115
- Staff costs +€2,964
up €2,964 (+5.8%), from €50,916 to €53,880
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 | €538,390 | €420,465 | -€117,925 | -21.9% |
| Fixed assets | 21/28 | €7,700 | €7,337 | -€362 | -4.7% |
| Tangible fixed assets | 22/27 | €7,700 | €7,337 | -€362 | -4.7% |
| Plant, machinery and equipment | 23 | €726 | €4,437 | +€3,712 | +512% |
| Furniture and vehicles | 24 | €6,974 | €2,900 | -€4,074 | -58.4% |
| Current assets | 29/58 | €530,690 | €413,127 | -€117,563 | -22.2% |
| Amounts receivable within one year | 40/41 | €505,912 | €401,213 | -€104,700 | -20.7% |
| Trade receivables | 40 | €489,325 | €78,378 | -€410,946 | -84.0% |
| Other amounts receivable | 41 | €16,588 | €322,834 | +€306,247 | +1,846% |
| Cash at bank and in hand | 54/58 | €20,466 | €5,525 | -€14,940 | -73.0% |
| Deferred charges and accrued income | 490/1 | €4,313 | €6,389 | +€2,077 | +48.2% |
| Total equity and liabilities | 10/49 | €538,390 | €420,465 | -€117,925 | -21.9% |
| Equity | 10/15 | €71,419 | €128,358 | +€56,939 | +79.7% |
| Reserves | 13 | €71,419 | €128,358 | +€56,939 | +79.7% |
| Distributable reserves | 133 | €71,419 | €128,358 | +€56,939 | +79.7% |
| Amounts payable | 17/49 | €466,971 | €292,107 | -€174,864 | -37.4% |
| Amounts payable within one year | 42/48 | €466,971 | €277,407 | -€189,564 | -40.6% |
| Trade debts | 44 | €427,941 | €130,658 | -€297,282 | -69.5% |
| Suppliers | 440/4 | €427,941 | €130,658 | -€297,282 | -69.5% |
| Taxes, remuneration and social security | 45 | €3,934 | €3,502 | -€432 | -11.0% |
| Taxes | 450/3 | €432 | - | -€432 | |
| Remuneration and social security | 454/9 | €3,502 | €3,502 | = | 0.0% |
| Other amounts payable | 47/48 | €35,096 | €143,246 | +€108,150 | +308% |
| Accrued charges and deferred income | 492/3 | - | €14,700 | +€14,700 | |
| Remuneration, social security and pensions | 62 | €50,916 | €53,880 | +€2,964 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,773 | €5,711 | -€63 | -1.1% |
| Other operating charges | 640/8 | €246 | €248 | +€2 | +0.8% |
| Gross operating margin | 9900 | €147,789 | €135,560 | -€12,230 | -8.3% |
| Operating profit (loss) | 9901 | €90,854 | €75,721 | -€15,133 | -16.7% |
| Financial income | 75/76B | €3,817 | €3,842 | +€26 | +0.7% |
| Recurring financial income | 75 | €3,817 | €3,842 | +€26 | +0.7% |
| Financial charges | 65/66B | €1,895 | €1,510 | -€385 | -20.3% |
| Recurring financial charges | 65 | €1,895 | €1,510 | -€385 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | €92,776 | €78,053 | -€14,723 | -15.9% |
| Income taxes | 67/77 | €24,675 | €21,115 | -€3,560 | -14.4% |
| Profit (loss) for the period | 9904 | €68,101 | €56,939 | -€11,163 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,101 | €56,939 | -€11,163 | -16.4% |
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 30 October 2026 via checked.be.