CM RENOVAR: 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.
CM RENOVAR
Largest movements
- Cash +€46,774
new in 2025: €46,774
mainly Trade debts (+€24,299) and Receivables within one year (+€15,327)
- Receivables within one year -€15,327
down €15,327 (-22.1%), from €69,351 to €54,024
of which Trade receivables: -€17,414
- Tangible fixed assets -€9,627
down €9,627 (-33.4%), from €28,820 to €19,193
- Deferred charges and accrued income -€2,335
down €2,335 (-19.8%), from €11,810 to €9,476
- Trade debts +€24,299
up €24,299 (+309%), from €7,857 to €32,156
- Reserves +€8,000
up €8,000 (+55.7%), from €14,360 to €22,360
of which Distributable reserves: +€9,860
- Other debts -€6,227
no longer reported in 2025 (was €6,227)
- Debts after one year -€6,021
down €6,021 (-22.8%), from €26,430 to €20,409
- Gross operating margin +€21,581
up €21,581 (+194%), from €11,134 to €32,714
- Financial charges -€6,930
down €6,930 (-54.1%), from €12,805 to €5,876
- Taxes +€5,662
up €5,662 (+2,346%), from €241 to €5,904
- Other operating charges +€491
up €491 (+19.2%), from €2,556 to €3,047
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 | €109,982 | €129,467 | +€19,485 | +17.7% |
| Fixed assets | 21/28 | €28,820 | €19,193 | -€9,627 | -33.4% |
| Tangible fixed assets | 22/27 | €28,820 | €19,193 | -€9,627 | -33.4% |
| Furniture and vehicles | 24 | €28,820 | €19,193 | -€9,627 | -33.4% |
| Current assets | 29/58 | €81,162 | €110,274 | +€29,112 | +35.9% |
| Amounts receivable within one year | 40/41 | €69,351 | €54,024 | -€15,327 | -22.1% |
| Trade receivables | 40 | €65,250 | €47,835 | -€17,414 | -26.7% |
| Other amounts receivable | 41 | €4,102 | €6,188 | +€2,087 | +50.9% |
| Cash at bank and in hand | 54/58 | - | €46,774 | +€46,774 | |
| Deferred charges and accrued income | 490/1 | €11,810 | €9,476 | -€2,335 | -19.8% |
| Total equity and liabilities | 10/49 | €109,982 | €129,467 | +€19,485 | +17.7% |
| Equity | 10/15 | €55,484 | €63,842 | +€8,358 | +15.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €14,360 | €22,360 | +€8,000 | +55.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €12,500 | €22,360 | +€9,860 | +78.9% |
| Profit (loss) carried forward | 14 | €33,624 | €33,982 | +€358 | +1.1% |
| Amounts payable | 17/49 | €54,498 | €65,625 | +€11,127 | +20.4% |
| Amounts payable after more than one year | 17 | €26,430 | €20,409 | -€6,021 | -22.8% |
| Financial debts | 170/4 | €26,430 | €20,409 | -€6,021 | -22.8% |
| Amounts payable within one year | 42/48 | €27,938 | €45,215 | +€17,277 | +61.8% |
| Current portion of amounts payable after more than one year | 42 | €5,694 | €6,021 | +€327 | +5.8% |
| Financial debts | 43 | €254 | - | -€254 | |
| Credit institutions | 430/8 | €254 | - | -€254 | |
| Trade debts | 44 | €7,857 | €32,156 | +€24,299 | +309% |
| Suppliers | 440/4 | €7,857 | €32,156 | +€24,299 | +309% |
| Taxes, remuneration and social security | 45 | €7,907 | €7,038 | -€869 | -11.0% |
| Taxes | 450/3 | €7,907 | €7,038 | -€869 | -11.0% |
| Other amounts payable | 47/48 | €6,227 | - | -€6,227 | |
| Accrued charges and deferred income | 492/3 | €129 | - | -€129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,741 | €9,627 | -€114 | -1.2% |
| Other operating charges | 640/8 | €2,556 | €3,047 | +€491 | +19.2% |
| Gross operating margin | 9900 | €11,134 | €32,714 | +€21,581 | +194% |
| Operating profit (loss) | 9901 | -€1,163 | €20,040 | +€21,204 | |
| Financial income | 75/76B | €0 | €97 | +€97 | +322,967% |
| Recurring financial income | 75 | €0 | €97 | +€97 | +322,967% |
| Financial charges | 65/66B | €12,805 | €5,876 | -€6,930 | -54.1% |
| Recurring financial charges | 65 | €12,805 | €5,876 | -€6,930 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | -€13,968 | €14,262 | +€28,230 | |
| Income taxes | 67/77 | €241 | €5,904 | +€5,662 | +2,346% |
| Profit (loss) for the period | 9904 | -€14,210 | €8,358 | +€22,568 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,210 | €8,358 | +€22,568 |
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 26 October 2026 via checked.be.