RENOBELT: 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.
RENOBELT
Largest movements
- Cash -€40,604
down €40,604 (-32.1%), from €126,456 to €85,852
mainly Contributions, distributions and other (-€101,329) and Investment in fixed assets (net) (-€47,618)
- Receivables after one year -€20,000
down €20,000 (-100%), from €20,000 to €0
- Receivables within one year +€19,270
up €19,270 (+44.9%), from €42,905 to €62,174
of which Trade receivables: +€12,420
- Tangible fixed assets +€11,165
up €11,165 (+3.9%), from €287,580 to €298,745
of which Assets under construction and advance payments: +€34,629
- Stocks and contracts -€7,711
down €7,711 (-42.0%), from €18,366 to €10,655
of which Stocks: -€11,270
- Reserves -€66,551
down €66,551 (-33.3%), from €199,802 to €133,251
- Other debts +€60,757
up €60,757 (+149%), from €40,875 to €101,632
- Debts after one year -€25,827
down €25,827 (-15.4%), from €167,736 to €141,909
- Trade debts -€10,824
down €10,824 (-33.1%), from €32,745 to €21,921
- Depreciation +€6,805
up €6,805 (+23.0%), from €29,648 to €36,453
- Other operating charges +€6,176
up €6,176 (+179%), from €3,445 to €9,621
- Gross operating margin +€5,859
up €5,859 (+6.5%), from €90,299 to €96,158
- Taxes -€4,725
down €4,725 (-29.3%), from €16,121 to €11,396
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 | €502,196 | €461,974 | -€40,222 | -8.0% |
| Fixed assets | 21/28 | €287,580 | €298,745 | +€11,165 | +3.9% |
| Tangible fixed assets | 22/27 | €287,580 | €298,745 | +€11,165 | +3.9% |
| Land and buildings | 22 | €185,340 | €186,154 | +€814 | +0.4% |
| Plant, machinery and equipment | 23 | €2,141 | €1,302 | -€838 | -39.2% |
| Furniture and vehicles | 24 | €100,100 | €76,659 | -€23,441 | -23.4% |
| Assets under construction and advance payments | 27 | - | €34,629 | +€34,629 | |
| Current assets | 29/58 | €214,616 | €163,229 | -€51,387 | -23.9% |
| Amounts receivable after more than one year | 29 | €20,000 | €0 | -€20,000 | -100% |
| Other amounts receivable | 291 | €20,000 | €0 | -€20,000 | -100% |
| Stocks and contracts in progress | 3 | €18,366 | €10,655 | -€7,711 | -42.0% |
| Stocks | 30/36 | €13,270 | €2,000 | -€11,270 | -84.9% |
| Contracts in progress | 37 | €5,096 | €8,655 | +€3,559 | +69.8% |
| Amounts receivable within one year | 40/41 | €42,905 | €62,174 | +€19,270 | +44.9% |
| Trade receivables | 40 | €34,423 | €46,843 | +€12,420 | +36.1% |
| Other amounts receivable | 41 | €8,481 | €15,331 | +€6,850 | +80.8% |
| Cash at bank and in hand | 54/58 | €126,456 | €85,852 | -€40,604 | -32.1% |
| Deferred charges and accrued income | 490/1 | €6,889 | €4,547 | -€2,342 | -34.0% |
| Total equity and liabilities | 10/49 | €502,196 | €461,974 | -€40,222 | -8.0% |
| Equity | 10/15 | €219,802 | €153,251 | -€66,551 | -30.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €199,802 | €133,251 | -€66,551 | -33.3% |
| Distributable reserves | 133 | €199,802 | €133,251 | -€66,551 | -33.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €282,394 | €308,723 | +€26,329 | +9.3% |
| Amounts payable after more than one year | 17 | €167,736 | €141,909 | -€25,827 | -15.4% |
| Financial debts | 170/4 | €167,736 | €141,909 | -€25,827 | -15.4% |
| Amounts payable within one year | 42/48 | €112,427 | €161,924 | +€49,497 | +44.0% |
| Current portion of amounts payable after more than one year | 42 | €26,168 | €25,827 | -€341 | -1.3% |
| Financial debts | 43 | €9,411 | €9,394 | -€16 | -0.2% |
| Credit institutions | 430/8 | €9,411 | €9,394 | -€16 | -0.2% |
| Trade debts | 44 | €32,745 | €21,921 | -€10,824 | -33.1% |
| Suppliers | 440/4 | €32,745 | €21,921 | -€10,824 | -33.1% |
| Taxes, remuneration and social security | 45 | €3,229 | €3,150 | -€79 | -2.4% |
| Taxes | 450/3 | €1,079 | €1,000 | -€79 | -7.3% |
| Remuneration and social security | 454/9 | €2,150 | €2,150 | = | 0.0% |
| Other amounts payable | 47/48 | €40,875 | €101,632 | +€60,757 | +149% |
| Accrued charges and deferred income | 492/3 | €2,232 | €4,890 | +€2,659 | +119% |
| Non-recurring operating income | 76A | €16,850 | €0 | -€16,850 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,648 | €36,453 | +€6,805 | +23.0% |
| Other operating charges | 640/8 | €3,445 | €9,621 | +€6,176 | +179% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €90,299 | €96,158 | +€5,859 | +6.5% |
| Operating profit (loss) | 9901 | €57,206 | €50,084 | -€7,122 | -12.4% |
| Financial income | 75/76B | €698 | €110 | -€588 | -84.3% |
| Recurring financial income | 75 | €698 | €110 | -€588 | -84.3% |
| Financial charges | 65/66B | €4,610 | €4,020 | -€590 | -12.8% |
| Recurring financial charges | 65 | €4,610 | €4,020 | -€590 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €53,293 | €46,174 | -€7,120 | -13.4% |
| Income taxes | 67/77 | €16,121 | €11,396 | -€4,725 | -29.3% |
| Profit (loss) for the period | 9904 | €37,173 | €34,777 | -€2,395 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,173 | €34,777 | -€2,395 | -6.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.