EM 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.
EM RENOV
Largest movements
- Receivables within one year +€124,131
up €124,131 (+356%), from €34,901 to €159,032
of which Other amounts receivable: +€120,768
- Cash -€14,258
down €14,258 (-34.8%), from €40,960 to €26,702
mainly Receivables within one year (-€124,131) and Trade debts (-€9,294)
- Advances received +€77,102
new in 2025: €77,102
- Profit (loss) carried forward +€38,800
up €38,800 (+59.9%), from €64,785 to €103,585
- Trade debts -€9,294
down €9,294 (-66.2%), from €14,038 to €4,744
- Other debts +€4,349
up €4,349 (+30.4%), from €14,311 to €18,661
- Turnover -€27,456
down €27,456 (-10.7%), from €256,994 to €229,537
- Gross operating margin -€20,367
down €20,367 (-28.2%), from €72,202 to €51,835
- Other operating charges -€5,936
down €5,936 (-65.3%), from €9,095 to €3,159
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 | €99,212 | €208,189 | +€108,977 | +110% |
| Fixed assets | 21/28 | €23,351 | €22,455 | -€896 | -3.8% |
| Tangible fixed assets | 22/27 | €23,351 | €22,455 | -€896 | -3.8% |
| Plant, machinery and equipment | 23 | - | €1,189 | +€1,189 | |
| Furniture and vehicles | 24 | €23,351 | €21,265 | -€2,085 | -8.9% |
| Current assets | 29/58 | €75,861 | €185,734 | +€109,873 | +145% |
| Amounts receivable within one year | 40/41 | €34,901 | €159,032 | +€124,131 | +356% |
| Trade receivables | 40 | €6,707 | €10,070 | +€3,363 | +50.2% |
| Other amounts receivable | 41 | €28,194 | €148,962 | +€120,768 | +428% |
| Cash at bank and in hand | 54/58 | €40,960 | €26,702 | -€14,258 | -34.8% |
| Total equity and liabilities | 10/49 | €99,212 | €208,189 | +€108,977 | +110% |
| Equity | 10/15 | €67,335 | €106,135 | +€38,800 | +57.6% |
| Contributions | 10/11 | €2,550 | €2,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,785 | €103,585 | +€38,800 | +59.9% |
| Amounts payable | 17/49 | €31,877 | €102,054 | +€70,177 | +220% |
| Amounts payable within one year | 42/48 | €31,877 | €102,054 | +€70,177 | +220% |
| Trade debts | 44 | €14,038 | €4,744 | -€9,294 | -66.2% |
| Suppliers | 440/4 | €14,038 | €4,744 | -€9,294 | -66.2% |
| Advances received on contracts in progress | 46 | - | €77,102 | +€77,102 | |
| Taxes, remuneration and social security | 45 | €3,528 | €1,547 | -€1,980 | -56.1% |
| Taxes | 450/3 | €3,528 | €1,547 | -€1,980 | -56.1% |
| Other amounts payable | 47/48 | €14,311 | €18,661 | +€4,349 | +30.4% |
| Turnover | 70 | €256,994 | €229,537 | -€27,456 | -10.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €184,792 | €183,246 | -€1,546 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,537 | €7,316 | +€779 | +11.9% |
| Other operating charges | 640/8 | €9,095 | €3,159 | -€5,936 | -65.3% |
| Non-recurring operating charges | 66A | - | €2,393 | +€2,393 | |
| Gross operating margin | 9900 | €72,202 | €51,835 | -€20,367 | -28.2% |
| Operating profit (loss) | 9901 | €56,570 | €38,967 | -€17,603 | -31.1% |
| Financial charges | 65/66B | €172 | €167 | -€5 | -2.9% |
| Recurring financial charges | 65 | €172 | €167 | -€5 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €56,398 | €38,800 | -€17,598 | -31.2% |
| Profit (loss) for the period | 9904 | €56,398 | €38,800 | -€17,598 | -31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,398 | €38,800 | -€17,598 | -31.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.