IRENOVA: 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.
IRENOVA
Largest movements
- Cash -€146,362
down €146,362 (-67.5%), from €216,867 to €70,505
mainly Current portion of long-term debt (-€100,000) and Other debts (-€43,460)
- Current portion of long-term debt -€100,000
down €100,000 (-100%), from €100,000 to €0
- Other debts -€43,460
down €43,460 (-54.0%), from €80,487 to €37,027
- Tax, wage and social debts -€3,655
down €3,655 (-69.4%), from €5,265 to €1,610
of which Remuneration and social security: -€3,150
- Gross operating margin -€45,060
down €45,060 (-99.0%), from €45,534 to €474
- Taxes -€13,743
down €13,743, from €13,601 to -€142
- Other operating charges -€820
down €820 (-47.0%), from €1,744 to €924
- Financial charges -€576
down €576 (-47.1%), from €1,224 to €648
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 | €227,811 | €80,051 | -€147,759 | -64.9% |
| Fixed assets | 21/28 | €150 | €150 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €227,661 | €79,901 | -€147,759 | -64.9% |
| Stocks and contracts in progress | 3 | €9,886 | €8,305 | -€1,581 | -16.0% |
| Stocks | 30/36 | €9,886 | €8,305 | -€1,581 | -16.0% |
| Amounts receivable within one year | 40/41 | €0 | €142 | +€142 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €142 | +€142 | |
| Cash at bank and in hand | 54/58 | €216,867 | €70,505 | -€146,362 | -67.5% |
| Deferred charges and accrued income | 490/1 | €908 | €949 | +€41 | +4.5% |
| Total equity and liabilities | 10/49 | €227,811 | €80,051 | -€147,759 | -64.9% |
| Equity | 10/15 | €40,338 | €40,841 | +€503 | +1.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €39,338 | €39,841 | +€503 | +1.3% |
| Distributable reserves | 133 | €39,338 | €39,841 | +€503 | +1.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €187,473 | €39,211 | -€148,262 | -79.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €186,189 | €39,211 | -€146,979 | -78.9% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €0 | -€100,000 | -100% |
| Financial debts | 43 | €5 | €5 | = | 0.0% |
| Credit institutions | 430/8 | €5 | €5 | = | 0.0% |
| Trade debts | 44 | €432 | €568 | +€137 | +31.6% |
| Suppliers | 440/4 | €432 | €568 | +€137 | +31.6% |
| Taxes, remuneration and social security | 45 | €5,265 | €1,610 | -€3,655 | -69.4% |
| Taxes | 450/3 | €2,115 | €1,610 | -€505 | -23.9% |
| Remuneration and social security | 454/9 | €3,150 | €0 | -€3,150 | -100% |
| Other amounts payable | 47/48 | €80,487 | €37,027 | -€43,460 | -54.0% |
| Accrued charges and deferred income | 492/3 | €1,284 | €0 | -€1,284 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158 | €0 | -€158 | -100% |
| Other operating charges | 640/8 | €1,744 | €924 | -€820 | -47.0% |
| Gross operating margin | 9900 | €45,534 | €474 | -€45,060 | -99.0% |
| Operating profit (loss) | 9901 | €43,632 | -€451 | -€44,082 | |
| Financial income | 75/76B | €1,105 | €1,459 | +€354 | +32.0% |
| Recurring financial income | 75 | €1,105 | €1,459 | +€354 | +32.0% |
| Financial charges | 65/66B | €1,224 | €648 | -€576 | -47.1% |
| Recurring financial charges | 65 | €1,224 | €648 | -€576 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €43,513 | €361 | -€43,152 | -99.2% |
| Income taxes | 67/77 | €13,601 | -€142 | -€13,743 | |
| Profit (loss) for the period | 9904 | €29,912 | €503 | -€29,409 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,912 | €503 | -€29,409 | -98.3% |
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 28 October 2026 via checked.be.