K-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.
K-RENOV
Largest movements
- Receivables within one year +€1,785
up €1,785 (+143%), from €1,249 to €3,034
of which Trade receivables: +€1,147
- Cash +€1,415
up €1,415 (+44.1%), from €3,209 to €4,624
mainly Net result for the year (+€2,749) and Tax, wage and social debts (+€1,593)
- Tangible fixed assets +€733
up €733 (+19.3%), from €3,802 to €4,535
of which Plant, machinery and equipment: +€833
- Profit (loss) carried forward +€2,749
up €2,749 (+530%), from €519 to €3,269
- Trade debts -€1,614
down €1,614 (-56.4%), from €2,864 to €1,250
- Tax, wage and social debts +€1,593
up €1,593 (+1,101%), from €145 to €1,738
- Other debts +€1,205
up €1,205 (+165%), from €732 to €1,937
- Gross operating margin +€3,296
up €3,296 (+175%), from €1,887 to €5,183
- Taxes +€834
up €834 (+576%), from €145 to €978
- Staff costs +€255
new in 2025: €255
- Depreciation -€168
down €168 (-14.0%), from €1,198 to €1,030
- Financial charges +€146
up €146 (+597%), from €24 to €170
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 | €8,259 | €12,193 | +€3,934 | +47.6% |
| Fixed assets | 21/28 | €3,802 | €4,535 | +€733 | +19.3% |
| Tangible fixed assets | 22/27 | €3,802 | €4,535 | +€733 | +19.3% |
| Plant, machinery and equipment | 23 | €3,422 | €4,255 | +€833 | +24.4% |
| Furniture and vehicles | 24 | €380 | €280 | -€100 | -26.3% |
| Current assets | 29/58 | €4,458 | €7,658 | +€3,200 | +71.8% |
| Amounts receivable within one year | 40/41 | €1,249 | €3,034 | +€1,785 | +143% |
| Trade receivables | 40 | €842 | €1,989 | +€1,147 | +136% |
| Other amounts receivable | 41 | €407 | €1,046 | +€638 | +157% |
| Cash at bank and in hand | 54/58 | €3,209 | €4,624 | +€1,415 | +44.1% |
| Total equity and liabilities | 10/49 | €8,259 | €12,193 | +€3,934 | +47.6% |
| Equity | 10/15 | €4,519 | €7,269 | +€2,749 | +60.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €519 | €3,269 | +€2,749 | +530% |
| Amounts payable | 17/49 | €3,740 | €4,925 | +€1,184 | +31.7% |
| Amounts payable within one year | 42/48 | €3,740 | €4,925 | +€1,184 | +31.7% |
| Trade debts | 44 | €2,864 | €1,250 | -€1,614 | -56.4% |
| Suppliers | 440/4 | €2,864 | €1,250 | -€1,614 | -56.4% |
| Taxes, remuneration and social security | 45 | €145 | €1,738 | +€1,593 | +1,101% |
| Taxes | 450/3 | €145 | €1,738 | +€1,593 | +1,101% |
| Other amounts payable | 47/48 | €732 | €1,937 | +€1,205 | +165% |
| Remuneration, social security and pensions | 62 | - | €255 | +€255 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,198 | €1,030 | -€168 | -14.0% |
| Gross operating margin | 9900 | €1,887 | €5,183 | +€3,296 | +175% |
| Operating profit (loss) | 9901 | €688 | €3,897 | +€3,209 | +466% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €24 | €170 | +€146 | +597% |
| Recurring financial charges | 65 | €24 | €170 | +€146 | +597% |
| Profit (loss) for the period before taxes | 9903 | €664 | €3,728 | +€3,064 | +461% |
| Income taxes | 67/77 | €145 | €978 | +€834 | +576% |
| Profit (loss) for the period | 9904 | €519 | €2,749 | +€2,230 | +430% |
| Profit (loss) for the period to be appropriated | 9905 | €519 | €2,749 | +€2,230 | +430% |
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 27 October 2026 via checked.be.