MS RENOV-CONSTRUCT: 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.
MS RENOV-CONSTRUCT
Largest movements
- Tangible fixed assets -€15,731
down €15,731 (-36.2%), from €43,486 to €27,756
of which Furniture and vehicles: -€14,660
- Cash +€14,789
up €14,789 (+38.4%), from €38,473 to €53,262
mainly Other debts (+€25,377) and Depreciation (+€15,731)
- Receivables within one year +€8,097
up €8,097 (+5.3%), from €152,511 to €160,607
of which Other amounts receivable: +€24,085
- Other debts +€25,377
up €25,377 (+21.5%), from €117,767 to €143,143
- Tax, wage and social debts -€14,109
down €14,109 (-97.3%), from €14,498 to €389
- Trade debts -€9,540
down €9,540 (-30.0%), from €31,809 to €22,269
- Debts after one year -€6,556
down €6,556 (-65.8%), from €9,957 to €3,401
- Profit (loss) carried forward +€5,616
up €5,616 (+21.2%), from €26,482 to €32,098
- Gross operating margin +€18,654
up €18,654 (+134%), from €13,886 to €32,540
- Depreciation +€4,937
up €4,937 (+45.7%), from €10,794 to €15,731
- Taxes +€3,728
up €3,728 (+376%), from €992 to €4,720
- Financial income +€841
new in 2025: €841
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 | €236,214 | €242,317 | +€6,103 | +2.6% |
| Fixed assets | 21/28 | €43,486 | €27,756 | -€15,731 | -36.2% |
| Tangible fixed assets | 22/27 | €43,486 | €27,756 | -€15,731 | -36.2% |
| Plant, machinery and equipment | 23 | €1,877 | €806 | -€1,070 | -57.0% |
| Furniture and vehicles | 24 | €41,610 | €26,949 | -€14,660 | -35.2% |
| Current assets | 29/58 | €192,727 | €214,561 | +€21,833 | +11.3% |
| Amounts receivable within one year | 40/41 | €152,511 | €160,607 | +€8,097 | +5.3% |
| Trade receivables | 40 | €152,511 | €136,522 | -€15,989 | -10.5% |
| Other amounts receivable | 41 | - | €24,085 | +€24,085 | |
| Cash at bank and in hand | 54/58 | €38,473 | €53,262 | +€14,789 | +38.4% |
| Deferred charges and accrued income | 490/1 | €1,744 | €691 | -€1,052 | -60.3% |
| Total equity and liabilities | 10/49 | €236,214 | €242,317 | +€6,103 | +2.6% |
| Equity | 10/15 | €55,942 | €66,558 | +€10,616 | +19.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,860 | €15,860 | +€5,000 | +46.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,000 | €14,000 | +€5,000 | +55.6% |
| Profit (loss) carried forward | 14 | €26,482 | €32,098 | +€5,616 | +21.2% |
| Amounts payable | 17/49 | €180,272 | €175,759 | -€4,513 | -2.5% |
| Amounts payable after more than one year | 17 | €9,957 | €3,401 | -€6,556 | -65.8% |
| Financial debts | 170/4 | €9,957 | €3,401 | -€6,556 | -65.8% |
| Amounts payable within one year | 42/48 | €170,315 | €172,357 | +€2,043 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €6,240 | €6,556 | +€315 | +5.1% |
| Trade debts | 44 | €31,809 | €22,269 | -€9,540 | -30.0% |
| Suppliers | 440/4 | €31,809 | €22,269 | -€9,540 | -30.0% |
| Taxes, remuneration and social security | 45 | €14,498 | €389 | -€14,109 | -97.3% |
| Taxes | 450/3 | €14,498 | €389 | -€14,109 | -97.3% |
| Other amounts payable | 47/48 | €117,767 | €143,143 | +€25,377 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,794 | €15,731 | +€4,937 | +45.7% |
| Other operating charges | 640/8 | €1,321 | €1,050 | -€271 | -20.5% |
| Gross operating margin | 9900 | €13,886 | €32,540 | +€18,654 | +134% |
| Operating profit (loss) | 9901 | €1,771 | €15,759 | +€13,988 | +790% |
| Financial income | 75/76B | - | €841 | +€841 | |
| Recurring financial income | 75 | - | €841 | +€841 | |
| Financial charges | 65/66B | €1,215 | €1,265 | +€50 | +4.1% |
| Recurring financial charges | 65 | €1,215 | €1,265 | +€50 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €557 | €15,336 | +€14,779 | +2,655% |
| Income taxes | 67/77 | €992 | €4,720 | +€3,728 | +376% |
| Profit (loss) for the period | 9904 | -€435 | €10,616 | +€11,051 | |
| Profit (loss) for the period to be appropriated | 9905 | -€435 | €10,616 | +€11,051 |
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 18 October 2026 via checked.be.