RENKO PROJECTS: what changed
Two fiscal 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.
RENKO PROJECTS
Largest movements
- Receivables within one year +€30,428
up €30,428 (+379.8%), from €8,012 to €38,440
of which Trade receivables: +€29,917
- Tangible fixed assets +€18,434
up €18,434 (+77.6%), from €23,763 to €42,197
of which Furniture and vehicles: +€17,066
- Cash +€16,093
up €16,093 (+66.9%), from €24,050 to €40,143
mainly Net result for the year (+€70,989) and Tax, wage and social debts (+€13,471)
- Reserves +€56,000
up €56,000 (+400.0%), from €14,000 to €70,000
- Tax, wage and social debts +€13,471
up €13,471 (+217.7%), from €6,186 to €19,657
- Debts after one year -€6,045
down €6,045 (-49.8%), from €12,135 to €6,090
- Other debts +€1,438
up €1,438 (+11.0%), from €13,054 to €14,491
- Gross operating margin +€92,615
up €92,615 (+888.6%), from €10,423 to €103,038
- Taxes +€18,096
up €18,096 (+2261.0%), from €800 to €18,897
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 | €55,824 | €121,143 | +€65,319 | +117.0% |
| Fixed assets | 21/28 | €23,763 | €42,197 | +€18,434 | +77.6% |
| Tangible fixed assets | 22/27 | €23,763 | €42,197 | +€18,434 | +77.6% |
| Plant, machinery and equipment | 23 | €909 | €2,278 | +€1,369 | +150.5% |
| Furniture and vehicles | 24 | €22,854 | €39,919 | +€17,066 | +74.7% |
| Current assets | 29/58 | €32,061 | €78,946 | +€46,884 | +146.2% |
| Amounts receivable within one year | 40/41 | €8,012 | €38,440 | +€30,428 | +379.8% |
| Trade receivables | 40 | €7,923 | €37,840 | +€29,917 | +377.6% |
| Other amounts receivable | 41 | €89 | €600 | +€511 | +577.8% |
| Cash at bank and in hand | 54/58 | €24,050 | €40,143 | +€16,093 | +66.9% |
| Deferred charges and accrued income | 490/1 | - | €363 | +€363 | |
| Total equity and liabilities | 10/49 | €55,824 | €121,143 | +€65,319 | +117.0% |
| Equity | 10/15 | €16,910 | €73,899 | +€56,989 | +337.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €14,000 | €70,000 | +€56,000 | +400.0% |
| Distributable reserves | 133 | €14,000 | €70,000 | +€56,000 | +400.0% |
| Profit (loss) carried forward | 14 | €410 | €1,399 | +€989 | +241.2% |
| Amounts payable | 17/49 | €38,914 | €47,244 | +€8,330 | +21.4% |
| Amounts payable after more than one year | 17 | €12,135 | €6,090 | -€6,045 | -49.8% |
| Financial debts | 170/4 | €12,135 | €6,090 | -€6,045 | -49.8% |
| Amounts payable within one year | 42/48 | €26,479 | €40,853 | +€14,374 | +54.3% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €6,045 | +€45 | +0.8% |
| Trade debts | 44 | €1,239 | €660 | -€579 | -46.7% |
| Suppliers | 440/4 | €1,239 | €660 | -€579 | -46.7% |
| Taxes, remuneration and social security | 45 | €6,186 | €19,657 | +€13,471 | +217.7% |
| Taxes | 450/3 | €6,186 | €19,657 | +€13,471 | +217.7% |
| Other amounts payable | 47/48 | €13,054 | €14,491 | +€1,438 | +11.0% |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,818 | €7,798 | -€20 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €339 | - | -€339 | |
| Other operating charges | 640/8 | €705 | €706 | +€2 | +0.2% |
| Non-recurring operating charges | 66A | - | €4,253 | +€4,253 | |
| Gross operating margin | 9900 | €10,423 | €103,038 | +€92,615 | +888.6% |
| Operating profit (loss) | 9901 | €1,562 | €90,281 | +€88,719 | +5681.3% |
| Financial income | 75/76B | €239 | €2 | -€236 | -99.0% |
| Recurring financial income | 75 | €239 | €2 | -€236 | -99.0% |
| Financial charges | 65/66B | €344 | €397 | +€53 | +15.3% |
| Recurring financial charges | 65 | €344 | €397 | +€53 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €1,456 | €89,886 | +€88,430 | +6072.9% |
| Income taxes | 67/77 | €800 | €18,897 | +€18,096 | +2261.0% |
| Profit (loss) for the period | 9904 | €656 | €70,989 | +€70,333 | +10725.0% |
| Profit (loss) for the period to be appropriated | 9905 | €656 | €70,989 | +€70,333 | +10725.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.