CD RENOVATION: 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.
CD RENOVATION
Largest movements
- Receivables within one year -€71,149
down €71,149 (-82.0%), from €86,759 to €15,610
of which Trade receivables: -€37,700
- Tangible fixed assets -€32,126
down €32,126 (-17.9%), from €179,810 to €147,684
of which Furniture and vehicles: -€39,078
- Cash +€3,011
up €3,011 (+12.3%), from €24,483 to €27,494
mainly Receivables within one year (+€71,149) and Depreciation (+€41,873)
- Profit (loss) carried forward -€56,926
down €56,926, from €28,109 to -€28,816
- Advances received -€25,990
no longer reported in 2025 (was €25,990)
- Trade debts -€19,500
down €19,500 (-92.5%), from €21,073 to €1,573
- Debts after one year -€14,372
down €14,372 (-8.5%), from €168,203 to €153,831
- Tax, wage and social debts +€12,293
up €12,293 (+102%), from €12,087 to €24,380
of which Remuneration and social security: +€10,397
- Staff costs +€47,151
up €47,151 (+83.2%), from €56,703 to €103,854
- Depreciation +€19,682
up €19,682 (+88.7%), from €22,191 to €41,873
- Gross operating margin -€19,215
down €19,215 (-15.5%), from €123,942 to €104,727
- Taxes -€11,242
down €11,242, from €9,280 to -€1,962
- Other operating charges +€7,238
up €7,238 (+208%), from €3,485 to €10,723
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 | €292,199 | €191,288 | -€100,911 | -34.5% |
| Fixed assets | 21/28 | €180,310 | €148,184 | -€32,126 | -17.8% |
| Tangible fixed assets | 22/27 | €179,810 | €147,684 | -€32,126 | -17.9% |
| Plant, machinery and equipment | 23 | - | €6,952 | +€6,952 | |
| Furniture and vehicles | 24 | €179,810 | €140,732 | -€39,078 | -21.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €111,889 | €43,104 | -€68,785 | -61.5% |
| Amounts receivable within one year | 40/41 | €86,759 | €15,610 | -€71,149 | -82.0% |
| Trade receivables | 40 | €40,312 | €2,613 | -€37,700 | -93.5% |
| Other amounts receivable | 41 | €46,447 | €12,998 | -€33,449 | -72.0% |
| Cash at bank and in hand | 54/58 | €24,483 | €27,494 | +€3,011 | +12.3% |
| Deferred charges and accrued income | 490/1 | €647 | - | -€647 | |
| Total equity and liabilities | 10/49 | €292,199 | €191,288 | -€100,911 | -34.5% |
| Equity | 10/15 | €31,109 | -€25,816 | -€56,926 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,109 | -€28,816 | -€56,926 | |
| Amounts payable | 17/49 | €261,089 | €217,104 | -€43,986 | -16.8% |
| Amounts payable after more than one year | 17 | €168,203 | €153,831 | -€14,372 | -8.5% |
| Financial debts | 170/4 | €168,203 | €153,831 | -€14,372 | -8.5% |
| Amounts payable within one year | 42/48 | €92,887 | €63,273 | -€29,614 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €33,737 | €37,320 | +€3,583 | +10.6% |
| Trade debts | 44 | €21,073 | €1,573 | -€19,500 | -92.5% |
| Suppliers | 440/4 | €21,073 | €1,573 | -€19,500 | -92.5% |
| Advances received on contracts in progress | 46 | €25,990 | - | -€25,990 | |
| Taxes, remuneration and social security | 45 | €12,087 | €24,380 | +€12,293 | +102% |
| Taxes | 450/3 | €9,281 | €11,177 | +€1,896 | +20.4% |
| Remuneration and social security | 454/9 | €2,806 | €13,203 | +€10,397 | +371% |
| Remuneration, social security and pensions | 62 | €56,703 | €103,854 | +€47,151 | +83.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,191 | €41,873 | +€19,682 | +88.7% |
| Other operating charges | 640/8 | €3,485 | €10,723 | +€7,238 | +208% |
| Gross operating margin | 9900 | €123,942 | €104,727 | -€19,215 | -15.5% |
| Operating profit (loss) | 9901 | €41,563 | -€51,722 | -€93,285 | |
| Financial income | 75/76B | €287 | €1 | -€286 | -99.7% |
| Recurring financial income | 75 | €287 | €1 | -€286 | -99.7% |
| Financial charges | 65/66B | €4,461 | €7,167 | +€2,705 | +60.6% |
| Recurring financial charges | 65 | €4,461 | €7,167 | +€2,705 | +60.6% |
| Profit (loss) for the period before taxes | 9903 | €37,389 | -€58,887 | -€96,277 | |
| Income taxes | 67/77 | €9,280 | -€1,962 | -€11,242 | |
| Profit (loss) for the period | 9904 | €28,109 | -€56,926 | -€85,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,109 | -€56,926 | -€85,035 |
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 17 October 2026 via checked.be.