HDC 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.
HDC RENOV
Largest movements
- Receivables within one year +€30,900
up €30,900 (+58.2%), from €53,053 to €83,952
of which Trade receivables: +€33,032
- Cash -€7,119
down €7,119 (-60.5%), from €11,764 to €4,645
mainly Receivables within one year (-€30,900) and Tax, wage and social debts (-€4,232)
- Trade debts +€28,932
up €28,932 (+72.1%), from €40,135 to €69,067
of which Suppliers: +€32,558
- Tax, wage and social debts -€4,232
down €4,232 (-66.8%), from €6,334 to €2,101
of which Taxes: -€4,232
- Profit (loss) carried forward -€2,276
down €2,276 (-11.3%), from €20,125 to €17,849
- Gross operating margin -€4,619
down €4,619, from €3,757 to -€863
- Financial income +€881
up €881 (+1,761,260%), from €0 to €881
- Financial charges +€480
up €480 (+126%), from €381 to €861
- Depreciation +€454
up €454 (+1,081%), from €42 to €496
- Staff costs +€193
new in 2025: €193
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 | €68,593 | €91,017 | +€22,423 | +32.7% |
| Fixed assets | 21/28 | €2,440 | €1,944 | -€496 | -20.3% |
| Tangible fixed assets | 22/27 | €2,440 | €1,944 | -€496 | -20.3% |
| Furniture and vehicles | 24 | €2,440 | €1,944 | -€496 | -20.3% |
| Current assets | 29/58 | €66,153 | €89,073 | +€22,920 | +34.6% |
| Amounts receivable within one year | 40/41 | €53,053 | €83,952 | +€30,900 | +58.2% |
| Trade receivables | 40 | €35,777 | €68,809 | +€33,032 | +92.3% |
| Other amounts receivable | 41 | €17,276 | €15,144 | -€2,132 | -12.3% |
| Cash at bank and in hand | 54/58 | €11,764 | €4,645 | -€7,119 | -60.5% |
| Deferred charges and accrued income | 490/1 | €1,337 | €476 | -€861 | -64.4% |
| Total equity and liabilities | 10/49 | €68,593 | €91,017 | +€22,423 | +32.7% |
| Equity | 10/15 | €22,125 | €19,849 | -€2,276 | -10.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,125 | €17,849 | -€2,276 | -11.3% |
| Amounts payable | 17/49 | €46,469 | €71,168 | +€24,700 | +53.2% |
| Amounts payable within one year | 42/48 | €46,469 | €71,168 | +€24,700 | +53.2% |
| Trade debts | 44 | €40,135 | €69,067 | +€28,932 | +72.1% |
| Suppliers | 440/4 | €36,509 | €69,067 | +€32,558 | +89.2% |
| Bills of exchange payable | 441 | €3,626 | €0 | -€3,626 | -100% |
| Taxes, remuneration and social security | 45 | €6,334 | €2,101 | -€4,232 | -66.8% |
| Taxes | 450/3 | €6,334 | €2,101 | -€4,232 | -66.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €193 | +€193 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42 | €496 | +€454 | +1,081% |
| Gross operating margin | 9900 | €3,757 | -€863 | -€4,619 | |
| Operating profit (loss) | 9901 | €3,715 | -€1,553 | -€5,267 | |
| Financial income | 75/76B | €0 | €881 | +€881 | +1,761,260% |
| Recurring financial income | 75 | €0 | €881 | +€881 | +1,761,260% |
| Financial charges | 65/66B | €381 | €861 | +€480 | +126% |
| Recurring financial charges | 65 | €381 | €861 | +€480 | +126% |
| Profit (loss) for the period before taxes | 9903 | €3,334 | -€1,533 | -€4,867 | |
| Income taxes | 67/77 | €668 | €743 | +€75 | +11.2% |
| Profit (loss) for the period | 9904 | €2,665 | -€2,276 | -€4,941 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,665 | -€2,276 | -€4,941 |
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 22 October 2026 via checked.be.