RENAMO: 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.
RENAMO
Largest movements
- Tangible fixed assets -€377,343
down €377,343 (-16.0%), from €2.4m to €2.0m
of which Land and buildings: -€375,533
- Cash +€320,716
up €320,716 (+43.4%), from €738,877 to €1.1m
mainly Investment in fixed assets (net) (+€348,511) and Net result for the year (+€112,792)
- Tax, wage and social debts -€78,797
down €78,797 (-89.7%), from €87,886 to €9,089
- Taxes -€107,890
down €107,890 (-58.1%), from €185,794 to €77,905
- Financial charges +€93,696
up €93,696 (+51837.6%), from €181 to €93,877
- Financial income +€59,668
up €59,668 (+6571.0%), from €908 to €60,576
- Gross operating margin -€42,296
down €42,296 (-14.0%), from €303,098 to €260,802
- Turnover +€21,802
up €21,802 (+10.5%), from €208,038 to €229,840
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.
Cash bridge derived
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 | €3,139,482 | €3,083,477 | -€56,005 | -1.8% |
| Fixed assets | 21/28 | €2,356,637 | €1,979,294 | -€377,343 | -16.0% |
| Tangible fixed assets | 22/27 | €2,356,637 | €1,979,294 | -€377,343 | -16.0% |
| Land and buildings | 22 | €2,347,300 | €1,971,767 | -€375,533 | -16.0% |
| Plant, machinery and equipment | 23 | €2,774 | €2,519 | -€255 | -9.2% |
| Furniture and vehicles | 24 | €6,563 | €5,008 | -€1,555 | -23.7% |
| Current assets | 29/58 | €782,845 | €1,104,183 | +€321,338 | +41.0% |
| Amounts receivable after more than one year | 29 | €43,968 | €44,590 | +€622 | +1.4% |
| Trade receivables | 290 | €43,968 | €44,590 | +€622 | +1.4% |
| Cash at bank and in hand | 54/58 | €738,877 | €1,059,593 | +€320,716 | +43.4% |
| Total equity and liabilities | 10/49 | €3,139,482 | €3,083,477 | -€56,005 | -1.8% |
| Equity | 10/15 | €2,961,596 | €2,984,388 | +€22,792 | +0.8% |
| Contributions | 10/11 | €1,650,000 | €1,650,000 | = | 0.0% |
| Capital | 10 | €1,650,000 | €1,650,000 | = | 0.0% |
| Issued capital | 100 | €1,650,000 | €1,650,000 | = | 0.0% |
| Reserves | 13 | €1,311,596 | €1,334,388 | +€22,792 | +1.7% |
| Non-distributable reserves | 130/1 | €86,624 | €93,416 | +€6,792 | +7.8% |
| Legal reserve | 130 | €86,624 | €93,416 | +€6,792 | +7.8% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,224,972 | €1,240,972 | +€16,000 | +1.3% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €177,886 | €99,089 | -€78,797 | -44.3% |
| Amounts payable within one year | 42/48 | €177,886 | €99,089 | -€78,797 | -44.3% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €87,886 | €9,089 | -€78,797 | -89.7% |
| Taxes | 450/3 | €87,886 | €9,089 | -€78,797 | -89.7% |
| Other amounts payable | 47/48 | €90,000 | €90,000 | = | 0.0% |
| Turnover | 70 | €208,038 | €229,840 | +€21,802 | +10.5% |
| Non-recurring operating income | 76A | €95,060 | €30,962 | -€64,098 | -67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,496 | €28,832 | -€9,664 | -25.1% |
| Other operating charges | 640/8 | €10,115 | €7,972 | -€2,143 | -21.2% |
| Gross operating margin | 9900 | €303,098 | €260,802 | -€42,296 | -14.0% |
| Operating profit (loss) | 9901 | €254,487 | €223,998 | -€30,489 | -12.0% |
| Financial income | 75/76B | €908 | €60,576 | +€59,668 | +6571.0% |
| Recurring financial income | 75 | €908 | €60,576 | +€59,668 | +6571.0% |
| Financial charges | 65/66B | €181 | €93,877 | +€93,696 | +51837.6% |
| Recurring financial charges | 65 | €181 | €93,877 | +€93,696 | +51837.6% |
| Profit (loss) for the period before taxes | 9903 | €255,214 | €190,697 | -€64,518 | -25.3% |
| Transfer from deferred taxes | 780 | €100,154 | - | -€100,154 | |
| Income taxes | 67/77 | €185,794 | €77,905 | -€107,890 | -58.1% |
| Profit (loss) for the period | 9904 | €169,574 | €112,792 | -€56,782 | -33.5% |
| Transfer from tax-exempt reserves | 789 | €230,812 | - | -€230,812 | |
| Profit (loss) for the period to be appropriated | 9905 | €400,386 | €112,792 | -€287,594 | -71.8% |
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 11 October 2026 via checked.be.