RENEWCO: 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.
RENEWCO
Largest movements
- Stocks and contracts +€118,357
up €118,357 (+55.3%), from €213,882 to €332,239
of which Contracts in progress: +€86,239
- Receivables within one year +€35,454
up €35,454 (+13.8%), from €257,494 to €292,948
of which Trade receivables: +€28,946
- Intangible fixed assets -€19,250
down €19,250 (-6.4%), from €301,096 to €281,846
- Short-term financial debts -€137,121
down €137,121 (-77.9%), from €176,031 to €38,910
- Trade debts +€82,055
up €82,055 (+76.2%), from €107,635 to €189,691
- Tax, wage and social debts +€67,934
up €67,934 (+103.0%), from €65,935 to €133,869
of which Remuneration and social security: +€67,664
- Other debts +€56,767
up €56,767 (+132.6%), from €42,796 to €99,563
- Debts after one year +€33,900
up €33,900 (+13.7%), from €247,298 to €281,198
- Staff costs +€98,500
up €98,500 (+29.6%), from €332,625 to €431,125
- Gross operating margin +€67,204
up €67,204 (+16.6%), from €405,861 to €473,065
- Depreciation -€19,262
down €19,262 (-48.2%), from €39,993 to €20,730
- Financial charges -€6,794
down €6,794 (-24.6%), from €27,646 to €20,853
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 | €789,336 | €918,286 | +€128,949 | +16.3% |
| Fixed assets | 21/28 | €309,481 | €293,098 | -€16,382 | -5.3% |
| Intangible fixed assets | 21 | €301,096 | €281,846 | -€19,250 | -6.4% |
| Tangible fixed assets | 22/27 | €3,884 | €6,752 | +€2,868 | +73.8% |
| Plant, machinery and equipment | 23 | €913 | €403 | -€510 | -55.8% |
| Furniture and vehicles | 24 | €2,971 | €6,348 | +€3,378 | +113.7% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €479,856 | €625,188 | +€145,332 | +30.3% |
| Stocks and contracts in progress | 3 | €213,882 | €332,239 | +€118,357 | +55.3% |
| Stocks | 30/36 | €213,882 | €246,000 | +€32,118 | +15.0% |
| Contracts in progress | 37 | - | €86,239 | +€86,239 | |
| Amounts receivable within one year | 40/41 | €257,494 | €292,948 | +€35,454 | +13.8% |
| Trade receivables | 40 | €223,881 | €252,827 | +€28,946 | +12.9% |
| Other amounts receivable | 41 | €33,613 | €40,121 | +€6,508 | +19.4% |
| Cash at bank and in hand | 54/58 | €8,480 | €0 | -€8,480 | -100.0% |
| Deferred charges and accrued income | 490/1 | - | €0 | = | |
| Total equity and liabilities | 10/49 | €789,336 | €918,286 | +€128,949 | +16.3% |
| Equity | 10/15 | €28,503 | €27,304 | -€1,199 | -4.2% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €9,884 | €9,884 | = | 0.0% |
| Distributable reserves | 133 | €9,884 | €9,884 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,382 | -€4,580 | -€1,199 | -35.5% |
| Amounts payable | 17/49 | €760,834 | €890,982 | +€130,148 | +17.1% |
| Amounts payable after more than one year | 17 | €247,298 | €281,198 | +€33,900 | +13.7% |
| Financial debts | 170/4 | €247,298 | €281,198 | +€33,900 | +13.7% |
| Amounts payable within one year | 42/48 | €513,536 | €609,784 | +€96,248 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €121,139 | €147,752 | +€26,613 | +22.0% |
| Financial debts | 43 | €176,031 | €38,910 | -€137,121 | -77.9% |
| Credit institutions | 430/8 | €176,031 | €38,910 | -€137,121 | -77.9% |
| Trade debts | 44 | €107,635 | €189,691 | +€82,055 | +76.2% |
| Suppliers | 440/4 | €107,635 | €189,691 | +€82,055 | +76.2% |
| Taxes, remuneration and social security | 45 | €65,935 | €133,869 | +€67,934 | +103.0% |
| Taxes | 450/3 | €2,907 | €3,178 | +€271 | +9.3% |
| Remuneration and social security | 454/9 | €63,027 | €130,691 | +€67,664 | +107.4% |
| Other amounts payable | 47/48 | €42,796 | €99,563 | +€56,767 | +132.6% |
| Accrued charges and deferred income | 492/3 | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €332,625 | €431,125 | +€98,500 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,993 | €20,730 | -€19,262 | -48.2% |
| Other operating charges | 640/8 | €4,500 | €2,181 | -€2,319 | -51.5% |
| Gross operating margin | 9900 | €405,861 | €473,065 | +€67,204 | +16.6% |
| Operating profit (loss) | 9901 | €28,743 | €19,028 | -€9,715 | -33.8% |
| Financial income | 75/76B | €0 | €626 | +€626 | +3129400.0% |
| Recurring financial income | 75 | €0 | €626 | +€626 | +3129400.0% |
| Financial charges | 65/66B | €27,646 | €20,853 | -€6,794 | -24.6% |
| Recurring financial charges | 65 | €27,646 | €20,853 | -€6,794 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €1,097 | -€1,199 | -€2,296 | |
| Profit (loss) for the period | 9904 | €1,097 | -€1,199 | -€2,296 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,097 | -€1,199 | -€2,296 |
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 10 October 2026 via checked.be.