HD Renova: 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.
HD Renova
Largest movements
- Receivables within one year -€44,360
down €44,360 (-31.5%), from €141,016 to €96,656
of which Other amounts receivable: -€37,400
- Tangible fixed assets -€25,235
down €25,235 (-18.6%), from €135,841 to €110,607
of which Furniture and vehicles: -€21,093
- Profit (loss) carried forward -€68,745
down €68,745 (-3,303%), from -€2,081 to -€70,826
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Debts after one year -€9,467
down €9,467 (-14.3%), from €66,097 to €56,630
- Gross operating margin -€34,158
down €34,158 (-26.0%), from €131,224 to €97,067
- Staff costs +€26,927
up €26,927 (+80.5%), from €33,430 to €60,357
- Taxes -€18,829
down €18,829 (-75.6%), from €24,908 to €6,079
- Depreciation +€5,242
up €5,242 (+24.8%), from €21,172 to €26,414
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 | €278,196 | €209,127 | -€69,069 | -24.8% |
| Fixed assets | 21/28 | €135,841 | €110,607 | -€25,235 | -18.6% |
| Tangible fixed assets | 22/27 | €135,841 | €110,607 | -€25,235 | -18.6% |
| Land and buildings | 22 | €69,234 | €66,299 | -€2,935 | -4.2% |
| Plant, machinery and equipment | 23 | €4,493 | €3,287 | -€1,206 | -26.8% |
| Furniture and vehicles | 24 | €62,115 | €41,021 | -€21,093 | -34.0% |
| Current assets | 29/58 | €142,355 | €98,520 | -€43,835 | -30.8% |
| Amounts receivable within one year | 40/41 | €141,016 | €96,656 | -€44,360 | -31.5% |
| Trade receivables | 40 | €62,339 | €55,379 | -€6,960 | -11.2% |
| Other amounts receivable | 41 | €78,676 | €41,277 | -€37,400 | -47.5% |
| Cash at bank and in hand | 54/58 | €1,339 | €1,060 | -€280 | -20.9% |
| Deferred charges and accrued income | 490/1 | - | €805 | +€805 | |
| Total equity and liabilities | 10/49 | €278,196 | €209,127 | -€69,069 | -24.8% |
| Equity | 10/15 | €5,979 | -€50,366 | -€56,345 | |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| 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 | -€2,081 | -€70,826 | -€68,745 | -3,303% |
| Amounts payable | 17/49 | €272,218 | €259,494 | -€12,724 | -4.7% |
| Amounts payable after more than one year | 17 | €66,097 | €56,630 | -€9,467 | -14.3% |
| Financial debts | 170/4 | €66,097 | €56,630 | -€9,467 | -14.3% |
| Amounts payable within one year | 42/48 | €206,120 | €202,863 | -€3,257 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €9,805 | €9,567 | -€238 | -2.4% |
| Trade debts | 44 | €123,665 | €122,658 | -€1,007 | -0.8% |
| Suppliers | 440/4 | €123,665 | €122,658 | -€1,007 | -0.8% |
| Taxes, remuneration and social security | 45 | €72,650 | €70,638 | -€2,012 | -2.8% |
| Taxes | 450/3 | €63,847 | €49,288 | -€14,560 | -22.8% |
| Remuneration and social security | 454/9 | €8,803 | €21,351 | +€12,548 | +143% |
| Remuneration, social security and pensions | 62 | €33,430 | €60,357 | +€26,927 | +80.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,172 | €26,414 | +€5,242 | +24.8% |
| Other operating charges | 640/8 | €818 | €1,843 | +€1,026 | +125% |
| Gross operating margin | 9900 | €131,224 | €97,067 | -€34,158 | -26.0% |
| Operating profit (loss) | 9901 | €75,805 | €8,453 | -€67,351 | -88.8% |
| Financial income | 75/76B | €80 | €78 | -€2 | -2.6% |
| Recurring financial income | 75 | €80 | €78 | -€2 | -2.6% |
| Financial charges | 65/66B | €4,077 | €4,124 | +€47 | +1.2% |
| Recurring financial charges | 65 | €4,077 | €4,124 | +€47 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €71,808 | €4,407 | -€67,401 | -93.9% |
| Income taxes | 67/77 | €24,908 | €6,079 | -€18,829 | -75.6% |
| Profit (loss) for the period | 9904 | €46,900 | -€1,672 | -€48,572 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,900 | -€1,672 | -€48,572 |
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 29 October 2026 via checked.be.