HO RENOV: what changed
HO RENOV
Largest movements
- Receivables within one year -€31,536
down €31,536 (-39.3%), from €80,246 to €48,710
of which Trade receivables: -€38,355
- Cash +€2,901
up €2,901 (+1,397%), from €208 to €3,109
mainly Receivables within one year (+€31,536) and Net result for the year (+€14,151)
- Tangible fixed assets -€2,877
down €2,877 (-41.7%), from €6,893 to €4,016
of which Plant, machinery and equipment: -€1,630
- Deferred charges and accrued income +€1,735
up €1,735 (+449%), from €387 to €2,121
- Trade debts -€22,806
down €22,806 (-58.9%), from €38,744 to €15,938
- Profit (loss) carried forward -€9,849
down €9,849 (-77.8%), from €12,667 to €2,818
- Other debts +€5,000
up €5,000 (+29.4%), from €17,000 to €22,000
- Accrued charges and deferred income -€1,321
no longer reported in 2025 (was €1,321)
- Current portion of long-term debt -€1,271
no longer reported in 2025 (was €1,271)
- Gross operating margin +€9,041
up €9,041 (+15.1%), from €59,818 to €68,859
- Staff costs +€5,440
up €5,440 (+15.4%), from €35,280 to €40,720
- Depreciation -€2,804
down €2,804 (-31.1%), from €9,027 to €6,223
- Taxes +€2,068
up €2,068 (+69.8%), from €2,961 to €5,029
- Write-downs +€1,470
new in 2025: €1,470
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 | €87,733 | €57,955 | -€29,778 | -33.9% |
| Fixed assets | 21/28 | €6,893 | €4,016 | -€2,877 | -41.7% |
| Tangible fixed assets | 22/27 | €6,893 | €4,016 | -€2,877 | -41.7% |
| Plant, machinery and equipment | 23 | €1,964 | €334 | -€1,630 | -83.0% |
| Furniture and vehicles | 24 | €4,930 | €3,682 | -€1,247 | -25.3% |
| Current assets | 29/58 | €80,840 | €53,940 | -€26,901 | -33.3% |
| Amounts receivable within one year | 40/41 | €80,246 | €48,710 | -€31,536 | -39.3% |
| Trade receivables | 40 | €50,712 | €12,357 | -€38,355 | -75.6% |
| Other amounts receivable | 41 | €29,534 | €36,353 | +€6,819 | +23.1% |
| Cash at bank and in hand | 54/58 | €208 | €3,109 | +€2,901 | +1,397% |
| Deferred charges and accrued income | 490/1 | €387 | €2,121 | +€1,735 | +449% |
| Total equity and liabilities | 10/49 | €87,733 | €57,955 | -€29,778 | -33.9% |
| Equity | 10/15 | €15,667 | €5,818 | -€9,849 | -62.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,667 | €2,818 | -€9,849 | -77.8% |
| Amounts payable | 17/49 | €72,067 | €52,138 | -€19,929 | -27.7% |
| Amounts payable within one year | 42/48 | €70,745 | €52,138 | -€18,608 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €1,271 | - | -€1,271 | |
| Trade debts | 44 | €38,744 | €15,938 | -€22,806 | -58.9% |
| Suppliers | 440/4 | €38,744 | €15,938 | -€22,806 | -58.9% |
| Taxes, remuneration and social security | 45 | €13,731 | €14,200 | +€469 | +3.4% |
| Taxes | 450/3 | €4,467 | €6,578 | +€2,111 | +47.3% |
| Remuneration and social security | 454/9 | €9,264 | €7,622 | -€1,642 | -17.7% |
| Other amounts payable | 47/48 | €17,000 | €22,000 | +€5,000 | +29.4% |
| Accrued charges and deferred income | 492/3 | €1,321 | - | -€1,321 | |
| Remuneration, social security and pensions | 62 | €35,280 | €40,720 | +€5,440 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,027 | €6,223 | -€2,804 | -31.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,470 | +€1,470 | |
| Other operating charges | 640/8 | €1,410 | €1,695 | +€285 | +20.2% |
| Gross operating margin | 9900 | €59,818 | €68,859 | +€9,041 | +15.1% |
| Operating profit (loss) | 9901 | €14,100 | €18,751 | +€4,651 | +33.0% |
| Financial income | 75/76B | €268 | €1,342 | +€1,074 | +401% |
| Recurring financial income | 75 | €268 | €1,342 | +€1,074 | +401% |
| Financial charges | 65/66B | €865 | €913 | +€48 | +5.5% |
| Recurring financial charges | 65 | €865 | €913 | +€48 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €13,503 | €19,180 | +€5,677 | +42.0% |
| Income taxes | 67/77 | €2,961 | €5,029 | +€2,068 | +69.8% |
| Profit (loss) for the period | 9904 | €10,542 | €14,151 | +€3,609 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,542 | €14,151 | +€3,609 | +34.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.