RENOTHERM: what changed
RENOTHERM
Largest movements
- Tangible fixed assets +€9,408
up €9,408 (+11.8%), from €80,000 to €89,408
of which Furniture and vehicles: +€13,941
- Receivables within one year -€9,005
down €9,005 (-13.1%), from €68,875 to €59,870
of which Trade receivables: -€8,282
- Cash -€4,539
down €4,539 (-28.5%), from €15,913 to €11,374
mainly Advances received (-€26,256) and Investment in fixed assets (net) (-€18,134)
- Advances received -€26,256
no longer reported in 2025 (was €26,256)
- Trade debts +€22,346
up €22,346 (+169%), from €13,238 to €35,584
- Current portion of long-term debt +€8,172
up €8,172 (+77.2%), from €10,588 to €18,760
- Debts after one year -€8,081
down €8,081 (-12.3%), from €65,721 to €57,640
- Tax, wage and social debts +€3,020
new in 2025: €3,020
- Turnover -€50,268
down €50,268 (-23.3%), from €215,453 to €165,184
- Purchases and services -€39,338
down €39,338 (-20.5%), from €192,002 to €152,664
- Gross operating margin -€12,600
down €12,600 (-50.2%), from €25,121 to €12,521
- Depreciation +€2,863
up €2,863 (+48.8%), from €5,863 to €8,726
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,069 | €174,932 | -€4,136 | -2.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €80,000 | €89,408 | +€9,408 | +11.8% |
| Tangible fixed assets | 22/27 | €80,000 | €89,408 | +€9,408 | +11.8% |
| Land and buildings | 22 | €80,000 | €75,000 | -€5,000 | -6.3% |
| Plant, machinery and equipment | 23 | - | €467 | +€467 | |
| Furniture and vehicles | 24 | - | €13,941 | +€13,941 | |
| Current assets | 29/58 | €99,069 | €85,524 | -€13,544 | -13.7% |
| Stocks and contracts in progress | 3 | €14,280 | €14,280 | = | 0.0% |
| Stocks | 30/36 | €14,280 | €14,280 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €68,875 | €59,870 | -€9,005 | -13.1% |
| Trade receivables | 40 | €62,945 | €54,662 | -€8,282 | -13.2% |
| Other amounts receivable | 41 | €5,930 | €5,208 | -€722 | -12.2% |
| Cash at bank and in hand | 54/58 | €15,913 | €11,374 | -€4,539 | -28.5% |
| Total equity and liabilities | 10/49 | €179,069 | €174,932 | -€4,136 | -2.3% |
| Equity | 10/15 | €20,500 | €17,666 | -€2,834 | -13.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | €49 | -€2,785 | -€2,834 | |
| Amounts payable | 17/49 | €158,568 | €157,266 | -€1,302 | -0.8% |
| Amounts payable after more than one year | 17 | €65,721 | €57,640 | -€8,081 | -12.3% |
| Financial debts | 170/4 | €65,721 | €57,640 | -€8,081 | -12.3% |
| Amounts payable within one year | 42/48 | €92,848 | €99,627 | +€6,779 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €10,588 | €18,760 | +€8,172 | +77.2% |
| Trade debts | 44 | €13,238 | €35,584 | +€22,346 | +169% |
| Suppliers | 440/4 | €13,238 | €35,584 | +€22,346 | +169% |
| Advances received on contracts in progress | 46 | €26,256 | - | -€26,256 | |
| Taxes, remuneration and social security | 45 | - | €3,020 | +€3,020 | |
| Taxes | 450/3 | - | €3,020 | +€3,020 | |
| Other amounts payable | 47/48 | €42,766 | €42,263 | -€502 | -1.2% |
| Turnover | 70 | €215,453 | €165,184 | -€50,268 | -23.3% |
| Non-recurring operating income | 76A | €1,670 | - | -€1,670 | |
| Goods, raw materials, services and sundry goods | 60/61 | €192,002 | €152,664 | -€39,338 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,863 | €8,726 | +€2,863 | +48.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,866 | +€1,866 | |
| Other operating charges | 640/8 | €2,539 | €2,864 | +€325 | +12.8% |
| Gross operating margin | 9900 | €25,121 | €12,521 | -€12,600 | -50.2% |
| Operating profit (loss) | 9901 | €16,719 | -€935 | -€17,654 | |
| Financial income | 75/76B | €38 | €994 | +€956 | +2,534% |
| Recurring financial income | 75 | €38 | €494 | +€456 | +1,209% |
| Non-recurring financial income | 76B | - | €500 | +€500 | |
| Financial charges | 65/66B | €2,853 | €2,893 | +€40 | +1.4% |
| Recurring financial charges | 65 | €2,853 | €2,893 | +€40 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €13,904 | -€2,834 | -€16,738 | |
| Profit (loss) for the period | 9904 | €13,904 | -€2,834 | -€16,738 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,904 | -€2,834 | -€16,738 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.