FRED RENOVA9 CONSTRUCT: 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.
FRED RENOVA9 CONSTRUCT
Largest movements
- Tangible fixed assets +€42,426
up €42,426 (+73.0%), from €58,145 to €100,571
of which Leasing and similar rights: +€37,632
- Receivables within one year +€36,708
up €36,708 (+62.9%), from €58,338 to €95,045
of which Trade receivables: +€32,740
- Cash -€23,370
down €23,370 (-70.7%), from €33,064 to €9,695
mainly Other debts (-€78,162) and Investment in fixed assets (net) (-€73,555)
- Stocks and contracts +€8,534
up €8,534 (+27.0%), from €31,634 to €40,168
of which Contracts in progress: +€9,710
- Other debts -€78,162
down €78,162 (-73.9%), from €105,839 to €27,676
- Debts after one year +€62,822
new in 2025: €62,822
- Reserves +€32,390
up €32,390 (+360%), from €9,000 to €41,390
- Current portion of long-term debt +€27,365
new in 2025: €27,365
- Tax, wage and social debts +€22,390
up €22,390 (+278%), from €8,063 to €30,453
of which Taxes: +€13,103
- Gross operating margin +€138,510
up €138,510 (+145%), from €95,655 to €234,165
- Staff costs +€95,563
up €95,563 (+176%), from €54,426 to €149,990
- Taxes +€9,061
up €9,061 (+249%), from €3,638 to €12,699
- Depreciation +€6,911
up €6,911 (+28.7%), from €24,089 to €31,000
- Financial charges +€3,404
up €3,404 (+135%), from €2,524 to €5,927
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 | €182,586 | €248,612 | +€66,026 | +36.2% |
| Fixed assets | 21/28 | €58,145 | €100,700 | +€42,555 | +73.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €58,145 | €100,571 | +€42,426 | +73.0% |
| Plant, machinery and equipment | 23 | €20,834 | €30,582 | +€9,748 | +46.8% |
| Furniture and vehicles | 24 | €37,311 | €32,357 | -€4,954 | -13.3% |
| Leasing and similar rights | 25 | - | €37,632 | +€37,632 | |
| Financial fixed assets | 28 | - | €129 | +€129 | |
| Current assets | 29/58 | €124,441 | €147,912 | +€23,471 | +18.9% |
| Stocks and contracts in progress | 3 | €31,634 | €40,168 | +€8,534 | +27.0% |
| Stocks | 30/36 | €4,811 | €3,635 | -€1,176 | -24.4% |
| Contracts in progress | 37 | €26,823 | €36,534 | +€9,710 | +36.2% |
| Amounts receivable within one year | 40/41 | €58,338 | €95,045 | +€36,708 | +62.9% |
| Trade receivables | 40 | €47,883 | €80,623 | +€32,740 | +68.4% |
| Other amounts receivable | 41 | €10,455 | €14,422 | +€3,968 | +38.0% |
| Cash at bank and in hand | 54/58 | €33,064 | €9,695 | -€23,370 | -70.7% |
| Deferred charges and accrued income | 490/1 | €1,406 | €3,004 | +€1,598 | +114% |
| Total equity and liabilities | 10/49 | €182,586 | €248,612 | +€66,026 | +36.2% |
| Equity | 10/15 | €14,126 | €46,516 | +€32,390 | +229% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,000 | €41,390 | +€32,390 | +360% |
| Distributable reserves | 133 | €9,000 | €41,390 | +€32,390 | +360% |
| Profit (loss) carried forward | 14 | €126 | €126 | = | 0.0% |
| Amounts payable | 17/49 | €168,461 | €202,096 | +€33,636 | +20.0% |
| Amounts payable after more than one year | 17 | - | €62,822 | +€62,822 | |
| Financial debts | 170/4 | - | €62,822 | +€62,822 | |
| Amounts payable within one year | 42/48 | €168,016 | €139,241 | -€28,775 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | - | €27,365 | +€27,365 | |
| Trade debts | 44 | €18,690 | €17,209 | -€1,481 | -7.9% |
| Suppliers | 440/4 | €18,690 | €17,209 | -€1,481 | -7.9% |
| Advances received on contracts in progress | 46 | €35,424 | €36,537 | +€1,113 | +3.1% |
| Taxes, remuneration and social security | 45 | €8,063 | €30,453 | +€22,390 | +278% |
| Taxes | 450/3 | €3,878 | €16,981 | +€13,103 | +338% |
| Remuneration and social security | 454/9 | €4,186 | €13,473 | +€9,287 | +222% |
| Other amounts payable | 47/48 | €105,839 | €27,676 | -€78,162 | -73.9% |
| Accrued charges and deferred income | 492/3 | €444 | €33 | -€411 | -92.5% |
| Remuneration, social security and pensions | 62 | €54,426 | €149,990 | +€95,563 | +176% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,089 | €31,000 | +€6,911 | +28.7% |
| Other operating charges | 640/8 | €1,983 | €2,163 | +€181 | +9.1% |
| Gross operating margin | 9900 | €95,655 | €234,165 | +€138,510 | +145% |
| Operating profit (loss) | 9901 | €15,158 | €51,013 | +€35,855 | +237% |
| Financial income | 75/76B | €129 | €3 | -€125 | -97.4% |
| Recurring financial income | 75 | €129 | €3 | -€125 | -97.4% |
| Financial charges | 65/66B | €2,524 | €5,927 | +€3,404 | +135% |
| Recurring financial charges | 65 | €2,524 | €5,927 | +€3,404 | +135% |
| Profit (loss) for the period before taxes | 9903 | €12,762 | €45,089 | +€32,327 | +253% |
| Income taxes | 67/77 | €3,638 | €12,699 | +€9,061 | +249% |
| Profit (loss) for the period | 9904 | €9,124 | €32,390 | +€23,266 | +255% |
| Profit (loss) for the period to be appropriated | 9905 | €9,124 | €32,390 | +€23,266 | +255% |
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.