ED RENOV: 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.
ED RENOV
Largest movements
- Receivables within one year +€23,657
up €23,657 (+546%), from €4,335 to €27,992
of which Trade receivables: +€21,622
- Cash +€11,314
up €11,314 (+324%), from €3,489 to €14,803
mainly Net result for the year (+€20,212) and Trade debts (+€11,621)
- Tangible fixed assets +€1,237
new in 2025: €1,237
- Profit (loss) carried forward +€20,212
up €20,212 (+713%), from €2,836 to €23,047
- Trade debts +€11,621
up €11,621 (+575%), from €2,020 to €13,641
- Tax, wage and social debts +€5,101
up €5,101 (+705%), from €723 to €5,824
- Other debts -€726
down €726 (-48.5%), from €1,496 to €770
- Gross operating margin +€22,795
up €22,795 (+316%), from €7,207 to €30,002
- Taxes +€4,377
up €4,377 (+605%), from €723 to €5,101
- Financial charges +€1,368
up €1,368 (+56.0%), from €2,443 to €3,811
- Depreciation -€949
down €949 (-95.0%), from €999 to €50
- Staff costs +€490
new in 2025: €490
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 | €7,825 | €44,032 | +€36,208 | +463% |
| Fixed assets | 21/28 | - | €1,237 | +€1,237 | |
| Tangible fixed assets | 22/27 | - | €1,237 | +€1,237 | |
| Furniture and vehicles | 24 | - | €1,237 | +€1,237 | |
| Current assets | 29/58 | €7,825 | €42,795 | +€34,971 | +447% |
| Amounts receivable within one year | 40/41 | €4,335 | €27,992 | +€23,657 | +546% |
| Trade receivables | 40 | €3,125 | €24,747 | +€21,622 | +692% |
| Other amounts receivable | 41 | €1,210 | €3,245 | +€2,035 | +168% |
| Cash at bank and in hand | 54/58 | €3,489 | €14,803 | +€11,314 | +324% |
| Total equity and liabilities | 10/49 | €7,825 | €44,032 | +€36,208 | +463% |
| Equity | 10/15 | €3,336 | €23,547 | +€20,212 | +606% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,836 | €23,047 | +€20,212 | +713% |
| Amounts payable | 17/49 | €4,489 | €20,485 | +€15,996 | +356% |
| Amounts payable within one year | 42/48 | €4,239 | €20,235 | +€15,996 | +377% |
| Trade debts | 44 | €2,020 | €13,641 | +€11,621 | +575% |
| Suppliers | 440/4 | €2,020 | €13,641 | +€11,621 | +575% |
| Taxes, remuneration and social security | 45 | €723 | €5,824 | +€5,101 | +705% |
| Taxes | 450/3 | €723 | €5,824 | +€5,101 | +705% |
| Other amounts payable | 47/48 | €1,496 | €770 | -€726 | -48.5% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €490 | +€490 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €999 | €50 | -€949 | -95.0% |
| Other operating charges | 640/8 | €207 | €339 | +€132 | +64.0% |
| Gross operating margin | 9900 | €7,207 | €30,002 | +€22,795 | +316% |
| Operating profit (loss) | 9901 | €6,002 | €29,123 | +€23,121 | +385% |
| Financial charges | 65/66B | €2,443 | €3,811 | +€1,368 | +56.0% |
| Recurring financial charges | 65 | €2,443 | €3,811 | +€1,368 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €3,559 | €25,312 | +€21,753 | +611% |
| Income taxes | 67/77 | €723 | €5,101 | +€4,377 | +605% |
| Profit (loss) for the period | 9904 | €2,836 | €20,212 | +€17,376 | +613% |
| Profit (loss) for the period to be appropriated | 9905 | €2,836 | €20,212 | +€17,376 | +613% |
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 25 October 2026 via checked.be.