E&M-RENOVATION: what changed
What changed
E&M-RENOVATION
NACE 43.240, Other construction installation
filed annual accounts (NBB)
Net result for the year
-€2,907
2024 · €82,011-€84,918
Equity
€182,200
2024 · €185,107-€2,907
Cash
€212,793
2024 · €206,638+€6,154
Balance sheet total
€297,372
2024 · €288,746+€8,626
Largest movements
Assets
- Receivables within one year +€27,235
up €27,235 (+107%), from €25,501 to €52,736
of which Trade receivables: +€46,197
- Tangible fixed assets -€18,787
down €18,787 (-37.1%), from €50,586 to €31,799
- Cash +€6,154
up €6,154 (+3.0%), from €206,638 to €212,793
mainly Depreciation (+€20,010) and Other debts (+€15,292)
- Deferred charges and accrued income -€5,976
no longer reported in 2025 (was €5,976)
Equity and liabilities
- Other debts +€15,292
up €15,292 (+40.1%), from €38,092 to €53,384
- Debts after one year -€14,989
down €14,989 (-46.8%), from €32,000 to €17,011
- Current portion of long-term debt +€8,024
new in 2025: €8,024
Income statement
- Gross operating margin -€93,014
down €93,014 (-66.7%), from €139,459 to €46,445
- Taxes -€16,478
down €16,478 (-49.5%), from €33,288 to €16,810
- Other operating charges +€7,106
up €7,106 (+243%), from €2,926 to €10,032
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.
Result 2024
€82,011
Gross operating margin
-€93,014
Depreciation
-€168
Other operating charges
-€7,106
Financial income
+€1
Financial charges
-€1,109
Taxes
+€16,478
Result 2025
-€2,907
raises the resultlowers the result
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.
From operations
+€14,341
Investment
-€1,222
Financing
-€6,965
Cash 2024
€206,638
From operations (derived)
+€14,341
Net result for the year
-€2,907
Depreciation
+€20,010
Receivables within one year
-€27,235
Deferred charges and accrued income
+€5,976
Trade debts
+€360
Tax, wage and social debts
+€2,846
Other debts
+€15,292
Investment (derived)
-€1,222
Investment in fixed assets (net)
-€1,222
Financing
-€6,965
Debts after one year
-€14,989
Current portion of long-term debt
+€8,024
Cash 2025
€212,793
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €288,746 | €297,372 | +€8,626 | +3.0% |
| Fixed assets | 21/28 | €50,631 | €31,844 | -€18,787 | -37.1% |
| Tangible fixed assets | 22/27 | €50,586 | €31,799 | -€18,787 | -37.1% |
| Furniture and vehicles | 24 | €50,586 | €31,799 | -€18,787 | -37.1% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €238,115 | €265,528 | +€27,413 | +11.5% |
| Amounts receivable within one year | 40/41 | €25,501 | €52,736 | +€27,235 | +107% |
| Trade receivables | 40 | - | €46,197 | +€46,197 | |
| Other amounts receivable | 41 | €25,501 | €6,538 | -€18,962 | -74.4% |
| Cash at bank and in hand | 54/58 | €206,638 | €212,793 | +€6,154 | +3.0% |
| Deferred charges and accrued income | 490/1 | €5,976 | - | -€5,976 | |
| Total equity and liabilities | 10/49 | €288,746 | €297,372 | +€8,626 | +3.0% |
| Equity | 10/15 | €185,107 | €182,200 | -€2,907 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 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 | €164,647 | €161,740 | -€2,907 | -1.8% |
| Amounts payable | 17/49 | €103,639 | €115,172 | +€11,533 | +11.1% |
| Amounts payable after more than one year | 17 | €32,000 | €17,011 | -€14,989 | -46.8% |
| Financial debts | 170/4 | €32,000 | €17,011 | -€14,989 | -46.8% |
| Amounts payable within one year | 42/48 | €71,639 | €98,161 | +€26,522 | +37.0% |
| Current portion of amounts payable after more than one year | 42 | - | €8,024 | +€8,024 | |
| Trade debts | 44 | €259 | €619 | +€360 | +139% |
| Suppliers | 440/4 | €259 | €619 | +€360 | +139% |
| Taxes, remuneration and social security | 45 | €33,288 | €36,134 | +€2,846 | +8.5% |
| Taxes | 450/3 | €33,288 | €36,134 | +€2,846 | +8.5% |
| Other amounts payable | 47/48 | €38,092 | €53,384 | +€15,292 | +40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,841 | €20,010 | +€168 | +0.8% |
| Other operating charges | 640/8 | €2,926 | €10,032 | +€7,106 | +243% |
| Gross operating margin | 9900 | €139,459 | €46,445 | -€93,014 | -66.7% |
| Operating profit (loss) | 9901 | €116,691 | €16,403 | -€100,288 | -85.9% |
| Financial income | 75/76B | €0 | €1 | +€1 | +3,750% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +3,750% |
| Financial charges | 65/66B | €1,392 | €2,501 | +€1,109 | +79.6% |
| Recurring financial charges | 65 | €1,392 | €2,501 | +€1,109 | +79.6% |
| Profit (loss) for the period before taxes | 9903 | €115,299 | €13,903 | -€101,396 | -87.9% |
| Income taxes | 67/77 | €33,288 | €16,810 | -€16,478 | -49.5% |
| Profit (loss) for the period | 9904 | €82,011 | -€2,907 | -€84,918 | |
| Profit (loss) for the period to be appropriated | 9905 | €82,011 | -€2,907 | -€84,918 |
Next steps
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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.