MD 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.
MD RENOV
Largest movements
- Receivables within one year +€6,154
up €6,154 (+4.1%), from €148,531 to €154,685
of which Trade receivables: +€8,222
- Trade debts +€19,768
up €19,768 (+25.3%), from €78,120 to €97,888
- Advances received -€18,747
down €18,747 (-100%), from €18,747 to €0
- Profit (loss) carried forward +€6,206
up €6,206 (+28.8%), from €21,538 to €27,744
- Other debts -€5,593
down €5,593 (-36.9%), from €15,137 to €9,544
- Gross operating margin +€4,392
up €4,392 (+36.2%), from €12,118 to €16,510
- Other operating charges +€3,883
up €3,883 (+219%), from €1,770 to €5,653
- Staff costs -€1,164
down €1,164 (-86.0%), from €1,354 to €189
- Financial charges +€1,042
up €1,042 (+33.5%), from €3,109 to €4,151
- Taxes +€744
up €744 (+36.5%), from -€2,038 to -€1,293
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 | €181,092 | €185,621 | +€4,529 | +2.5% |
| Fixed assets | 21/28 | €28,546 | €26,941 | -€1,604 | -5.6% |
| Tangible fixed assets | 22/27 | €28,330 | €26,726 | -€1,604 | -5.7% |
| Land and buildings | 22 | €27,594 | €26,288 | -€1,307 | -4.7% |
| Plant, machinery and equipment | 23 | €736 | €438 | -€298 | -40.4% |
| Financial fixed assets | 28 | €215 | €215 | = | 0.0% |
| Current assets | 29/58 | €152,547 | €158,680 | +€6,133 | +4.0% |
| Amounts receivable within one year | 40/41 | €148,531 | €154,685 | +€6,154 | +4.1% |
| Trade receivables | 40 | €141,751 | €149,973 | +€8,222 | +5.8% |
| Other amounts receivable | 41 | €6,781 | €4,712 | -€2,069 | -30.5% |
| Cash at bank and in hand | 54/58 | €2,785 | €2,550 | -€234 | -8.4% |
| Deferred charges and accrued income | 490/1 | €1,231 | €1,444 | +€214 | +17.3% |
| Total equity and liabilities | 10/49 | €181,092 | €185,621 | +€4,529 | +2.5% |
| Equity | 10/15 | €57,613 | €63,819 | +€6,206 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €17,475 | €17,475 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,538 | €27,744 | +€6,206 | +28.8% |
| Amounts payable | 17/49 | €123,480 | €121,802 | -€1,678 | -1.4% |
| Amounts payable within one year | 42/48 | €123,399 | €120,595 | -€2,804 | -2.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €78,120 | €97,888 | +€19,768 | +25.3% |
| Suppliers | 440/4 | €78,120 | €97,888 | +€19,768 | +25.3% |
| Advances received on contracts in progress | 46 | €18,747 | €0 | -€18,747 | -100% |
| Taxes, remuneration and social security | 45 | €11,395 | €13,162 | +€1,768 | +15.5% |
| Taxes | 450/3 | €11,395 | €13,162 | +€1,768 | +15.5% |
| Other amounts payable | 47/48 | €15,137 | €9,544 | -€5,593 | -36.9% |
| Accrued charges and deferred income | 492/3 | €81 | €1,207 | +€1,126 | +1,390% |
| Remuneration, social security and pensions | 62 | €1,354 | €189 | -€1,164 | -86.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,604 | €1,604 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,770 | €5,653 | +€3,883 | +219% |
| Gross operating margin | 9900 | €12,118 | €16,510 | +€4,392 | +36.2% |
| Operating profit (loss) | 9901 | €7,390 | €9,064 | +€1,673 | +22.6% |
| Financial income | 75/76B | €525 | €0 | -€525 | -100.0% |
| Recurring financial income | 75 | €525 | €0 | -€525 | -100.0% |
| Financial charges | 65/66B | €3,109 | €4,151 | +€1,042 | +33.5% |
| Recurring financial charges | 65 | €3,109 | €4,151 | +€1,042 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €4,806 | €4,913 | +€107 | +2.2% |
| Income taxes | 67/77 | -€2,038 | -€1,293 | +€744 | +36.5% |
| Profit (loss) for the period | 9904 | €6,844 | €6,206 | -€638 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,844 | €6,206 | -€638 | -9.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.