PH 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.
PH RENOV
Largest movements
- Receivables within one year -€18,904
down €18,904 (-80.7%), from €23,428 to €4,524
of which Trade receivables: -€19,141
- Cash -€11,769
down €11,769 (-94.9%), from €12,398 to €629
mainly Tax, wage and social debts (-€20,668) and Trade debts (-€18,280)
- Tangible fixed assets -€10,626
down €10,626 (-26.3%), from €40,336 to €29,710
of which Furniture and vehicles: -€10,052
- Tax, wage and social debts -€20,668
down €20,668 (-87.8%), from €23,529 to €2,861
of which Remuneration and social security: -€20,668
- Trade debts -€18,280
down €18,280 (-85.5%), from €21,387 to €3,107
- Other debts +€15,030
up €15,030 (+244%), from €6,155 to €21,184
- Current portion of long-term debt -€8,695
down €8,695 (-66.7%), from €13,043 to €4,348
- Debts after one year -€4,348
no longer reported in 2025 (was €4,348)
- Purchases and services +€103,402
up €103,402 (+31.4%), from €328,906 to €432,309
- Turnover +€95,139
up €95,139 (+27.5%), from €346,371 to €441,511
- Gross operating margin -€9,992
down €9,992 (-48.4%), from €20,650 to €10,658
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 | €77,450 | €36,262 | -€41,188 | -53.2% |
| Fixed assets | 21/28 | €41,105 | €30,287 | -€10,818 | -26.3% |
| Intangible fixed assets | 21 | €769 | €577 | -€192 | -25.0% |
| Tangible fixed assets | 22/27 | €40,336 | €29,710 | -€10,626 | -26.3% |
| Plant, machinery and equipment | 23 | €2,028 | €1,454 | -€574 | -28.3% |
| Furniture and vehicles | 24 | €38,308 | €28,256 | -€10,052 | -26.2% |
| Current assets | 29/58 | €36,345 | €5,975 | -€30,370 | -83.6% |
| Amounts receivable within one year | 40/41 | €23,428 | €4,524 | -€18,904 | -80.7% |
| Trade receivables | 40 | €19,557 | €416 | -€19,141 | -97.9% |
| Other amounts receivable | 41 | €3,871 | €4,108 | +€237 | +6.1% |
| Cash at bank and in hand | 54/58 | €12,398 | €629 | -€11,769 | -94.9% |
| Deferred charges and accrued income | 490/1 | €520 | €822 | +€303 | +58.2% |
| Total equity and liabilities | 10/49 | €77,450 | €36,262 | -€41,188 | -53.2% |
| Equity | 10/15 | €8,989 | €4,762 | -€4,227 | -47.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €6,989 | €6,989 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,989 | €6,989 | = | 0.0% |
| Other | 1319 | €6,989 | €6,989 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,227 | -€4,227 | |
| Amounts payable | 17/49 | €68,461 | €31,500 | -€36,961 | -54.0% |
| Amounts payable after more than one year | 17 | €4,348 | - | -€4,348 | |
| Financial debts | 170/4 | €4,348 | - | -€4,348 | |
| Amounts payable within one year | 42/48 | €64,114 | €31,500 | -€32,614 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €13,043 | €4,348 | -€8,695 | -66.7% |
| Trade debts | 44 | €21,387 | €3,107 | -€18,280 | -85.5% |
| Suppliers | 440/4 | €21,387 | €3,107 | -€18,280 | -85.5% |
| Taxes, remuneration and social security | 45 | €23,529 | €2,861 | -€20,668 | -87.8% |
| Taxes | 450/3 | €2,861 | €2,861 | = | 0.0% |
| Remuneration and social security | 454/9 | €20,668 | - | -€20,668 | |
| Other amounts payable | 47/48 | €6,155 | €21,184 | +€15,030 | +244% |
| Turnover | 70 | €346,371 | €441,511 | +€95,139 | +27.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €328,906 | €432,309 | +€103,402 | +31.4% |
| Remuneration, social security and pensions | 62 | €33 | - | -€33 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,889 | €13,260 | +€4,371 | +49.2% |
| Other operating charges | 640/8 | €910 | €928 | +€18 | +2.0% |
| Gross operating margin | 9900 | €20,650 | €10,658 | -€9,992 | -48.4% |
| Operating profit (loss) | 9901 | €10,818 | -€3,530 | -€14,349 | |
| Financial income | 75/76B | €34 | €2 | -€32 | -93.7% |
| Recurring financial income | 75 | €34 | €2 | -€32 | -93.7% |
| Financial charges | 65/66B | €1,003 | €698 | -€304 | -30.3% |
| Recurring financial charges | 65 | €1,003 | €698 | -€304 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €9,850 | -€4,227 | -€14,076 | |
| Income taxes | 67/77 | €2,861 | - | -€2,861 | |
| Profit (loss) for the period | 9904 | €6,989 | -€4,227 | -€11,215 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,989 | -€4,227 | -€11,215 |
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.