Ma-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.
Ma-Renov
Largest movements
- Receivables within one year +€42,000
up €42,000 (+244%), from €17,248 to €59,248
of which Trade receivables: +€36,477
- Tangible fixed assets -€6,549
down €6,549 (-28.3%), from €23,117 to €16,568
of which Furniture and vehicles: -€5,759
- Cash -€2,479
down €2,479 (-6.7%), from €36,891 to €34,412
mainly Receivables within one year (-€42,000) and Investment in fixed assets (net) (-€1,001)
- Profit (loss) carried forward +€13,401
up €13,401 (+17.4%), from €76,838 to €90,239
- Accrued charges and deferred income +€12,400
new in 2025: €12,400
- Trade debts +€9,064
up €9,064 (+299%), from €3,036 to €12,100
- Turnover +€290,029
up €290,029 (+66.8%), from €433,959 to €723,988
- Purchases and services +€280,914
up €280,914 (+67.6%), from €415,513 to €696,426
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 | €82,289 | €116,238 | +€33,950 | +41.3% |
| Fixed assets | 21/28 | €23,117 | €16,568 | -€6,549 | -28.3% |
| Tangible fixed assets | 22/27 | €23,117 | €16,568 | -€6,549 | -28.3% |
| Plant, machinery and equipment | 23 | €2,164 | €1,971 | -€192 | -8.9% |
| Furniture and vehicles | 24 | €17,965 | €12,206 | -€5,759 | -32.1% |
| Other tangible fixed assets | 26 | €2,989 | €2,391 | -€598 | -20.0% |
| Current assets | 29/58 | €59,171 | €99,670 | +€40,499 | +68.4% |
| Amounts receivable within one year | 40/41 | €17,248 | €59,248 | +€42,000 | +244% |
| Trade receivables | 40 | €1,724 | €38,201 | +€36,477 | +2,116% |
| Other amounts receivable | 41 | €15,525 | €21,047 | +€5,523 | +35.6% |
| Cash at bank and in hand | 54/58 | €36,891 | €34,412 | -€2,479 | -6.7% |
| Deferred charges and accrued income | 490/1 | €5,032 | €6,009 | +€977 | +19.4% |
| Total equity and liabilities | 10/49 | €82,289 | €116,238 | +€33,950 | +41.3% |
| Equity | 10/15 | €78,338 | €91,739 | +€13,401 | +17.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,838 | €90,239 | +€13,401 | +17.4% |
| Amounts payable | 17/49 | €3,951 | €24,500 | +€20,549 | +520% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,951 | €12,100 | +€8,149 | +206% |
| Financial debts | 43 | €915 | €0 | -€915 | -100% |
| Credit institutions | 430/8 | €915 | €0 | -€915 | -100% |
| Trade debts | 44 | €3,036 | €12,100 | +€9,064 | +299% |
| Suppliers | 440/4 | €3,036 | €12,100 | +€9,064 | +299% |
| Taxes, remuneration and social security | 45 | €0 | €0 | = | |
| Taxes | 450/3 | €0 | €0 | = | |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | - | €12,400 | +€12,400 | |
| Turnover | 70 | €433,959 | €723,988 | +€290,029 | +66.8% |
| Non-recurring operating income | 76A | €9,263 | - | -€9,263 | |
| Goods, raw materials, services and sundry goods | 60/61 | €415,513 | €696,426 | +€280,914 | +67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,511 | €7,550 | +€2,039 | +37.0% |
| Other operating charges | 640/8 | €1,395 | €1,892 | +€497 | +35.6% |
| Gross operating margin | 9900 | €30,501 | €28,901 | -€1,600 | -5.2% |
| Operating profit (loss) | 9901 | €23,595 | €19,459 | -€4,136 | -17.5% |
| Financial income | 75/76B | €0 | €100 | +€100 | +29,329% |
| Recurring financial income | 75 | €0 | €100 | +€100 | +29,329% |
| Financial charges | 65/66B | €2,606 | €1,973 | -€633 | -24.3% |
| Recurring financial charges | 65 | €2,606 | €1,973 | -€633 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €20,990 | €17,586 | -€3,404 | -16.2% |
| Income taxes | 67/77 | €4,480 | €4,185 | -€295 | -6.6% |
| Profit (loss) for the period | 9904 | €16,509 | €13,401 | -€3,108 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,509 | €13,401 | -€3,108 | -18.8% |
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 31 October 2026 via checked.be.