RENOFIN: 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.
RENOFIN
Largest movements
- Receivables within one year +€21,928
up €21,928 (+401%), from €5,465 to €27,393
of which Trade receivables: +€22,782
- Cash +€4,095
new in 2025: €4,095
mainly Trade debts (+€12,672) and Net result for the year (+€8,228)
- Current investments -€2,923
no longer reported in 2025 (was €2,923)
- Deferred charges and accrued income +€1,006
new in 2025: €1,006
- Tangible fixed assets -€395
down €395 (-13.6%), from €2,905 to €2,509
- Trade debts +€12,672
up €12,672 (+947%), from €1,338 to €14,010
of which Bills of exchange payable: +€11,352
- Reserves +€8,228
up €8,228 (+160%), from €5,134 to €13,362
- Other debts +€1,764
up €1,764 (+5,482%), from €32 to €1,796
- Tax, wage and social debts +€1,047
up €1,047 (+58.6%), from €1,788 to €2,835
- Gross operating margin +€20,682
up €20,682 (+283%), from €7,311 to €27,993
- Staff costs +€14,723
new in 2025: €14,723
- Taxes +€1,047
up €1,047 (+58.6%), from €1,788 to €2,835
- Depreciation +€1,038
up €1,038 (+290%), from €358 to €1,395
- Other operating charges +€740
new in 2025: €740
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 | €11,292 | €35,003 | +€23,711 | +210% |
| Fixed assets | 21/28 | €2,905 | €2,509 | -€395 | -13.6% |
| Tangible fixed assets | 22/27 | €2,905 | €2,509 | -€395 | -13.6% |
| Plant, machinery and equipment | 23 | €2,905 | €2,509 | -€395 | -13.6% |
| Current assets | 29/58 | €8,388 | €32,494 | +€24,106 | +287% |
| Amounts receivable within one year | 40/41 | €5,465 | €27,393 | +€21,928 | +401% |
| Trade receivables | 40 | €4,165 | €26,947 | +€22,782 | +547% |
| Other amounts receivable | 41 | €1,300 | €446 | -€854 | -65.7% |
| Current investments | 50/53 | €2,923 | - | -€2,923 | |
| Cash at bank and in hand | 54/58 | - | €4,095 | +€4,095 | |
| Deferred charges and accrued income | 490/1 | - | €1,006 | +€1,006 | |
| Total equity and liabilities | 10/49 | €11,292 | €35,003 | +€23,711 | +210% |
| Equity | 10/15 | €8,134 | €16,362 | +€8,228 | +101% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,134 | €13,362 | +€8,228 | +160% |
| Distributable reserves | 133 | €5,134 | €13,362 | +€8,228 | +160% |
| Amounts payable | 17/49 | €3,158 | €18,641 | +€15,482 | +490% |
| Amounts payable within one year | 42/48 | €3,158 | €18,641 | +€15,482 | +490% |
| Trade debts | 44 | €1,338 | €14,010 | +€12,672 | +947% |
| Suppliers | 440/4 | €1,338 | €2,658 | +€1,320 | +98.6% |
| Bills of exchange payable | 441 | - | €11,352 | +€11,352 | |
| Taxes, remuneration and social security | 45 | €1,788 | €2,835 | +€1,047 | +58.6% |
| Taxes | 450/3 | €1,788 | €2,835 | +€1,047 | +58.6% |
| Other amounts payable | 47/48 | €32 | €1,796 | +€1,764 | +5,482% |
| Remuneration, social security and pensions | 62 | - | €14,723 | +€14,723 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €358 | €1,395 | +€1,038 | +290% |
| Other operating charges | 640/8 | - | €740 | +€740 | |
| Gross operating margin | 9900 | €7,311 | €27,993 | +€20,682 | +283% |
| Operating profit (loss) | 9901 | €6,953 | €11,135 | +€4,182 | +60.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €31 | €72 | +€41 | +131% |
| Recurring financial charges | 65 | €31 | €72 | +€41 | +131% |
| Profit (loss) for the period before taxes | 9903 | €6,922 | €11,063 | +€4,141 | +59.8% |
| Income taxes | 67/77 | €1,788 | €2,835 | +€1,047 | +58.6% |
| Profit (loss) for the period | 9904 | €5,134 | €8,228 | +€3,094 | +60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,134 | €8,228 | +€3,094 | +60.3% |
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 17 October 2026 via checked.be.