RENOV-ERWIN: 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.
RENOV-ERWIN
Largest movements
- Cash +€23,814
up €23,814 (+210%), from €11,364 to €35,178
mainly Trade debts (+€50,881) and Net result for the year (+€11,177)
- Receivables within one year +€18,900
up €18,900 (+69.8%), from €27,095 to €45,995
of which Trade receivables: +€16,260
- Tangible fixed assets -€3,815
down €3,815 (-29.9%), from €12,763 to €8,948
- Trade debts +€50,881
up €50,881 (+2,634%), from €1,931 to €52,812
- Tax, wage and social debts -€21,311
down €21,311 (-96.9%), from €21,985 to €674
of which Remuneration and social security: -€21,441
- Profit (loss) carried forward +€11,177
up €11,177 (+103%), from €10,886 to €22,062
- Other debts -€1,848
down €1,848 (-14.3%), from €12,920 to €11,072
- Gross operating margin +€11,018
up €11,018 (+118%), from €9,376 to €20,393
- Depreciation -€714
down €714 (-8.9%), from €8,051 to €7,338
- Taxes +€550
up €550 (+189%), from €291 to €841
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 | €51,722 | €90,621 | +€38,899 | +75.2% |
| Fixed assets | 21/28 | €13,263 | €9,448 | -€3,815 | -28.8% |
| Tangible fixed assets | 22/27 | €12,763 | €8,948 | -€3,815 | -29.9% |
| Furniture and vehicles | 24 | €12,763 | €8,948 | -€3,815 | -29.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €38,459 | €81,173 | +€42,714 | +111% |
| Amounts receivable within one year | 40/41 | €27,095 | €45,995 | +€18,900 | +69.8% |
| Trade receivables | 40 | €27,095 | €43,355 | +€16,260 | +60.0% |
| Other amounts receivable | 41 | - | €2,639 | +€2,639 | |
| Cash at bank and in hand | 54/58 | €11,364 | €35,178 | +€23,814 | +210% |
| Total equity and liabilities | 10/49 | €51,722 | €90,621 | +€38,899 | +75.2% |
| Equity | 10/15 | €14,886 | €26,062 | +€11,177 | +75.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,886 | €22,062 | +€11,177 | +103% |
| Amounts payable | 17/49 | €36,836 | €64,558 | +€27,722 | +75.3% |
| Amounts payable within one year | 42/48 | €36,836 | €64,558 | +€27,722 | +75.3% |
| Trade debts | 44 | €1,931 | €52,812 | +€50,881 | +2,634% |
| Suppliers | 440/4 | €1,931 | €52,812 | +€50,881 | +2,634% |
| Taxes, remuneration and social security | 45 | €21,985 | €674 | -€21,311 | -96.9% |
| Taxes | 450/3 | €544 | €674 | +€130 | +23.9% |
| Remuneration and social security | 454/9 | €21,441 | - | -€21,441 | |
| Other amounts payable | 47/48 | €12,920 | €11,072 | -€1,848 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,051 | €7,338 | -€714 | -8.9% |
| Other operating charges | 640/8 | €323 | €380 | +€57 | +17.6% |
| Gross operating margin | 9900 | €9,376 | €20,393 | +€11,018 | +118% |
| Operating profit (loss) | 9901 | €1,001 | €12,676 | +€11,675 | +1,166% |
| Financial charges | 65/66B | €468 | €659 | +€191 | +40.8% |
| Recurring financial charges | 65 | €468 | €659 | +€191 | +40.8% |
| Profit (loss) for the period before taxes | 9903 | €533 | €12,017 | +€11,484 | +2,153% |
| Income taxes | 67/77 | €291 | €841 | +€550 | +189% |
| Profit (loss) for the period | 9904 | €243 | €11,177 | +€10,934 | +4,503% |
| Profit (loss) for the period to be appropriated | 9905 | €243 | €11,177 | +€10,934 | +4,503% |
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 14 October 2026 via checked.be.