M-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.
M-Renov
Largest movements
- Receivables within one year +€18,053
up €18,053 (+57.4%), from €31,449 to €49,502
of which Trade receivables: +€18,648
- Stocks and contracts -€6,800
no longer reported in 2025 (was €6,800)
- Cash -€5,009
down €5,009 (-47.5%), from €10,537 to €5,528
mainly Accrued charges and deferred income (-€21,480) and Receivables within one year (-€18,053)
- Tangible fixed assets +€2,861
up €2,861 (+18.3%), from €15,642 to €18,502
- Accrued charges and deferred income -€21,480
no longer reported in 2025 (was €21,480)
- Advances received +€15,965
new in 2025: €15,965
- Debts after one year +€10,611
up €10,611 (+80.7%), from €13,157 to €23,768
- Profit (loss) carried forward +€9,736
up €9,736 (+44.5%), from €21,878 to €31,614
- Other debts -€5,727
down €5,727 (-87.0%), from €6,581 to €854
- Depreciation +€5,782
up €5,782 (+66.4%), from €8,704 to €14,487
- Gross operating margin +€5,169
up €5,169 (+24.2%), from €21,365 to €26,534
- Financial income +€1,285
new in 2025: €1,285
- Taxes +€1,250
new in 2025: €1,250
- Financial charges -€603
down €603 (-59.0%), from €1,023 to €420
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 | €64,427 | €73,532 | +€9,105 | +14.1% |
| Fixed assets | 21/28 | €15,642 | €18,502 | +€2,861 | +18.3% |
| Tangible fixed assets | 22/27 | €15,642 | €18,502 | +€2,861 | +18.3% |
| Furniture and vehicles | 24 | €15,642 | €18,502 | +€2,861 | +18.3% |
| Current assets | 29/58 | €48,786 | €55,030 | +€6,244 | +12.8% |
| Stocks and contracts in progress | 3 | €6,800 | - | -€6,800 | |
| Stocks | 30/36 | €6,800 | - | -€6,800 | |
| Amounts receivable within one year | 40/41 | €31,449 | €49,502 | +€18,053 | +57.4% |
| Trade receivables | 40 | €27,968 | €46,616 | +€18,648 | +66.7% |
| Other amounts receivable | 41 | €3,481 | €2,886 | -€595 | -17.1% |
| Cash at bank and in hand | 54/58 | €10,537 | €5,528 | -€5,009 | -47.5% |
| Total equity and liabilities | 10/49 | €64,427 | €73,532 | +€9,105 | +14.1% |
| Equity | 10/15 | €23,209 | €32,945 | +€9,736 | +41.9% |
| Contributions | 10/11 | €1,210 | €1,210 | = | 0.0% |
| Reserves | 13 | €121 | €121 | = | 0.0% |
| Non-distributable reserves | 130/1 | €121 | €121 | = | 0.0% |
| Reserves not available under the articles | 1311 | €121 | €121 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,878 | €31,614 | +€9,736 | +44.5% |
| Amounts payable | 17/49 | €41,218 | €40,587 | -€631 | -1.5% |
| Amounts payable after more than one year | 17 | €13,157 | €23,768 | +€10,611 | +80.7% |
| Financial debts | 170/4 | €13,157 | €23,768 | +€10,611 | +80.7% |
| Amounts payable within one year | 42/48 | €6,581 | €16,819 | +€10,238 | +156% |
| Advances received on contracts in progress | 46 | - | €15,965 | +€15,965 | |
| Other amounts payable | 47/48 | €6,581 | €854 | -€5,727 | -87.0% |
| Accrued charges and deferred income | 492/3 | €21,480 | - | -€21,480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,704 | €14,487 | +€5,782 | +66.4% |
| Other operating charges | 640/8 | €2,304 | €1,927 | -€377 | -16.3% |
| Gross operating margin | 9900 | €21,365 | €26,534 | +€5,169 | +24.2% |
| Operating profit (loss) | 9901 | €10,357 | €10,120 | -€237 | -2.3% |
| Financial income | 75/76B | - | €1,285 | +€1,285 | |
| Recurring financial income | 75 | - | €1,285 | +€1,285 | |
| Financial charges | 65/66B | €1,023 | €420 | -€603 | -59.0% |
| Recurring financial charges | 65 | €1,023 | €420 | -€603 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €9,334 | €10,986 | +€1,652 | +17.7% |
| Income taxes | 67/77 | - | €1,250 | +€1,250 | |
| Profit (loss) for the period | 9904 | €9,334 | €9,736 | +€402 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,334 | €9,736 | +€402 | +4.3% |
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 26 October 2026 via checked.be.