HD. K RENOV: what changed
HD. K RENOV
Largest movements
- Tangible fixed assets -€12,382
down €12,382 (-88.3%), from €14,029 to €1,646
of which Furniture and vehicles: -€11,450
- Receivables within one year +€8,077
up €8,077 (+44.5%), from €18,170 to €26,246
of which Other amounts receivable: +€8,547
- Cash +€2,434
up €2,434 (+18.1%), from €13,461 to €15,895
mainly Depreciation (+€12,382) and Trade debts (+€8,667)
- Deferred charges and accrued income -€2,237
down €2,237 (-91.1%), from €2,456 to €219
- Trade debts +€8,667
up €8,667 (+508%), from €1,704 to €10,371
- Tax, wage and social debts -€4,863
down €4,863 (-44.0%), from €11,052 to €6,190
of which Taxes: -€5,626
- Debts after one year -€4,499
down €4,499 (-28.5%), from €15,761 to €11,261
- Profit (loss) carried forward -€2,080
down €2,080 (-35.0%), from €5,949 to €3,869
- Advances received -€1,696
down €1,696 (-89.1%), from €1,904 to €208
- Gross operating margin -€15,603
down €15,603 (-36.9%), from €42,275 to €26,672
- Staff costs -€5,135
down €5,135 (-28.8%), from €17,831 to €12,697
- Taxes -€3,996
down €3,996 (-99.7%), from €4,007 to €11
- Depreciation +€1,050
up €1,050 (+9.3%), from €11,333 to €12,382
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,591 | €44,508 | -€4,083 | -8.4% |
| Fixed assets | 21/28 | €14,249 | €1,866 | -€12,382 | -86.9% |
| Tangible fixed assets | 22/27 | €14,029 | €1,646 | -€12,382 | -88.3% |
| Plant, machinery and equipment | 23 | €1,529 | €597 | -€932 | -61.0% |
| Furniture and vehicles | 24 | €12,500 | €1,050 | -€11,450 | -91.6% |
| Financial fixed assets | 28 | €220 | €220 | = | 0.0% |
| Current assets | 29/58 | €34,342 | €42,642 | +€8,299 | +24.2% |
| Stocks and contracts in progress | 3 | €256 | €281 | +€25 | +9.9% |
| Stocks | 30/36 | €256 | €281 | +€25 | +9.9% |
| Amounts receivable within one year | 40/41 | €18,170 | €26,246 | +€8,077 | +44.5% |
| Trade receivables | 40 | €7,262 | €6,791 | -€470 | -6.5% |
| Other amounts receivable | 41 | €10,908 | €19,455 | +€8,547 | +78.4% |
| Cash at bank and in hand | 54/58 | €13,461 | €15,895 | +€2,434 | +18.1% |
| Deferred charges and accrued income | 490/1 | €2,456 | €219 | -€2,237 | -91.1% |
| Total equity and liabilities | 10/49 | €48,591 | €44,508 | -€4,083 | -8.4% |
| Equity | 10/15 | €14,059 | €11,979 | -€2,080 | -14.8% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 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 | €5,949 | €3,869 | -€2,080 | -35.0% |
| Amounts payable | 17/49 | €34,532 | €32,529 | -€2,003 | -5.8% |
| Amounts payable after more than one year | 17 | €15,761 | €11,261 | -€4,499 | -28.5% |
| Financial debts | 170/4 | €15,761 | €11,261 | -€4,499 | -28.5% |
| Amounts payable within one year | 42/48 | €18,772 | €21,268 | +€2,497 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €4,111 | €4,499 | +€388 | +9.4% |
| Trade debts | 44 | €1,704 | €10,371 | +€8,667 | +508% |
| Suppliers | 440/4 | €1,704 | €10,371 | +€8,667 | +508% |
| Advances received on contracts in progress | 46 | €1,904 | €208 | -€1,696 | -89.1% |
| Taxes, remuneration and social security | 45 | €11,052 | €6,190 | -€4,863 | -44.0% |
| Taxes | 450/3 | €8,891 | €3,265 | -€5,626 | -63.3% |
| Remuneration and social security | 454/9 | €2,161 | €2,924 | +€763 | +35.3% |
| Non-recurring operating income | 76A | - | €12 | +€12 | |
| Remuneration, social security and pensions | 62 | €17,831 | €12,697 | -€5,135 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,333 | €12,382 | +€1,050 | +9.3% |
| Other operating charges | 640/8 | €1,138 | €1,198 | +€60 | +5.3% |
| Gross operating margin | 9900 | €42,275 | €26,672 | -€15,603 | -36.9% |
| Operating profit (loss) | 9901 | €11,973 | €395 | -€11,578 | -96.7% |
| Financial income | 75/76B | €5 | €45 | +€40 | +836% |
| Recurring financial income | 75 | €5 | €45 | +€40 | +836% |
| Financial charges | 65/66B | €2,063 | €2,287 | +€224 | +10.8% |
| Recurring financial charges | 65 | €2,063 | €2,287 | +€224 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €9,915 | -€1,847 | -€11,762 | |
| Income taxes | 67/77 | €4,007 | €11 | -€3,996 | -99.7% |
| Profit (loss) for the period | 9904 | €5,908 | -€1,858 | -€7,766 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,908 | -€1,858 | -€7,766 |
Next steps
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 2 November 2026 via checked.be.