RENODA CONSTRUCT: 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.
RENODA CONSTRUCT
Largest movements
- Stocks and contracts -€302,873
down €302,873 (-59.7%), from €507,452 to €204,580
- Receivables within one year +€60,148
up €60,148 (+103.8%), from €57,922 to €118,070
of which Other amounts receivable: +€68,019
- Cash -€49,702
down €49,702 (-73.4%), from €67,712 to €18,010
mainly Short-term financial debts (-€330,000) and Receivables within one year (-€60,148)
- Tangible fixed assets -€16,133
down €16,133 (-23.6%), from €68,498 to €52,365
- Short-term financial debts -€330,000
down €330,000 (-100.0%), from €330,000 to €0
- Other debts +€43,211
up €43,211 (+98.7%), from €43,779 to €86,989
- Reserves +€38,150
up €38,150 (+40.2%), from €94,792 to €132,942
- Trade debts -€27,906
down €27,906 (-98.1%), from €28,451 to €545
- Debts after one year -€14,666
down €14,666 (-9.9%), from €148,439 to €133,773
- Gross operating margin -€18,077
down €18,077 (-18.7%), from €96,736 to €78,659
- Financial charges -€7,243
down €7,243 (-62.7%), from €11,552 to €4,309
- Depreciation +€3,966
up €3,966 (+32.6%), from €12,167 to €16,133
- Taxes -€3,828
down €3,828 (-19.6%), from €19,545 to €15,717
- Financial income +€1,372
up €1,372, from €0 to €1,372
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 | €701,585 | €394,038 | -€307,547 | -43.8% |
| Fixed assets | 21/28 | €68,498 | €52,365 | -€16,133 | -23.6% |
| Tangible fixed assets | 22/27 | €68,498 | €52,365 | -€16,133 | -23.6% |
| Furniture and vehicles | 24 | €68,498 | €52,365 | -€16,133 | -23.6% |
| Current assets | 29/58 | €633,087 | €341,672 | -€291,414 | -46.0% |
| Stocks and contracts in progress | 3 | €507,452 | €204,580 | -€302,873 | -59.7% |
| Stocks | 30/36 | €507,452 | €204,580 | -€302,873 | -59.7% |
| Amounts receivable within one year | 40/41 | €57,922 | €118,070 | +€60,148 | +103.8% |
| Trade receivables | 40 | €28,852 | €20,980 | -€7,872 | -27.3% |
| Other amounts receivable | 41 | €29,071 | €97,090 | +€68,019 | +234.0% |
| Cash at bank and in hand | 54/58 | €67,712 | €18,010 | -€49,702 | -73.4% |
| Deferred charges and accrued income | 490/1 | - | €1,013 | +€1,013 | |
| Total equity and liabilities | 10/49 | €701,585 | €394,038 | -€307,547 | -43.8% |
| Equity | 10/15 | €114,792 | €152,942 | +€38,150 | +33.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €94,792 | €132,942 | +€38,150 | +40.2% |
| Distributable reserves | 133 | €94,792 | €132,942 | +€38,150 | +40.2% |
| Amounts payable | 17/49 | €586,793 | €241,096 | -€345,697 | -58.9% |
| Amounts payable after more than one year | 17 | €148,439 | €133,773 | -€14,666 | -9.9% |
| Financial debts | 170/4 | €148,439 | €133,773 | -€14,666 | -9.9% |
| Amounts payable within one year | 42/48 | €430,354 | €107,322 | -€323,032 | -75.1% |
| Current portion of amounts payable after more than one year | 42 | €14,114 | €14,666 | +€552 | +3.9% |
| Financial debts | 43 | €330,000 | €0 | -€330,000 | -100.0% |
| Credit institutions | 430/8 | €330,000 | €0 | -€330,000 | -100.0% |
| Trade debts | 44 | €28,451 | €545 | -€27,906 | -98.1% |
| Suppliers | 440/4 | €28,451 | €545 | -€27,906 | -98.1% |
| Taxes, remuneration and social security | 45 | €14,010 | €5,122 | -€8,888 | -63.4% |
| Taxes | 450/3 | €14,010 | €5,122 | -€8,888 | -63.4% |
| Other amounts payable | 47/48 | €43,779 | €86,989 | +€43,211 | +98.7% |
| Accrued charges and deferred income | 492/3 | €8,000 | €0 | -€8,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,167 | €16,133 | +€3,966 | +32.6% |
| Other operating charges | 640/8 | €5,603 | €5,722 | +€119 | +2.1% |
| Gross operating margin | 9900 | €96,736 | €78,659 | -€18,077 | -18.7% |
| Operating profit (loss) | 9901 | €78,966 | €56,804 | -€22,162 | -28.1% |
| Financial income | 75/76B | €0 | €1,372 | +€1,372 | |
| Recurring financial income | 75 | €0 | €1,372 | +€1,372 | |
| Financial charges | 65/66B | €11,552 | €4,309 | -€7,243 | -62.7% |
| Recurring financial charges | 65 | €11,552 | €4,309 | -€7,243 | -62.7% |
| Profit (loss) for the period before taxes | 9903 | €67,414 | €53,867 | -€13,547 | -20.1% |
| Income taxes | 67/77 | €19,545 | €15,717 | -€3,828 | -19.6% |
| Profit (loss) for the period | 9904 | €47,869 | €38,150 | -€9,719 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,869 | €38,150 | -€9,719 | -20.3% |
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.