RENOV-MACEDO: what changed
What changed
RENOV-MACEDO
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€10,037
2024 · €19,303-€9,266
Equity
€140,869
2024 · €130,832+€10,037
Cash
€9,780
2024 · €9,815-€35
Balance sheet total
€224,274
2024 · €202,763+€21,510
Largest movements
Assets
- Financial fixed assets +€41,571
up €41,571 (+77.9%), from €53,332 to €94,903
- Receivables within one year -€13,154
down €13,154 (-14.2%), from €92,876 to €79,722
of which Trade receivables: -€10,455
- Stocks and contracts -€8,003
down €8,003 (-19.4%), from €41,320 to €33,317
Equity and liabilities
- Trade debts -€24,157
down €24,157 (-73.4%), from €32,923 to €8,766
- Current portion of long-term debt +€15,041
up €15,041 (+457%), from €3,288 to €18,330
- Debts after one year +€14,737
up €14,737 (+79.1%), from €18,641 to €33,378
- Profit (loss) carried forward +€10,037
up €10,037 (+8.6%), from €116,472 to €126,509
- Tax, wage and social debts +€3,790
up €3,790 (+46.3%), from €8,187 to €11,977
of which Remuneration and social security: +€3,032
Income statement
- Gross operating margin -€32,865
down €32,865 (-40.4%), from €81,334 to €48,470
- Staff costs -€19,014
down €19,014 (-42.5%), from €44,782 to €25,768
- Financial charges +€4,771
up €4,771 (+94.6%), from €5,042 to €9,813
- Financial income +€3,656
up €3,656 (+14,116%), from €26 to €3,682
- Taxes -€2,264
down €2,264 (-37.1%), from €6,104 to €3,840
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.
Result 2024
€19,303
Gross operating margin
-€32,865
Staff costs
+€19,014
Depreciation
+€1,585
Other operating charges
+€1,876
Other operating items
-€24
Financial income
+€3,656
Financial charges
-€4,771
Taxes
+€2,264
Result 2025
€10,037
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€14,272
Investment
-€43,770
Financing
+€29,462
Cash 2024
€9,815
From operations (derived)
+€14,272
Net result for the year
+€10,037
Depreciation
+€1,234
Stocks and contracts
+€8,003
Receivables within one year
+€13,154
Deferred charges and accrued income
-€167
Trade debts
-€24,157
Tax, wage and social debts
+€3,790
Accrued charges and deferred income
+€2,379
Investment (derived)
-€43,770
Investment in fixed assets (net)
-€43,770
Financing
+€29,462
Debts after one year
+€14,737
Current portion of long-term debt
+€15,041
Short-term financial debts
-€317
Cash 2025
€9,780
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €202,763 | €224,274 | +€21,510 | +10.6% |
| Fixed assets | 21/28 | €57,469 | €100,005 | +€42,536 | +74.0% |
| Tangible fixed assets | 22/27 | €4,137 | €5,102 | +€965 | +23.3% |
| Plant, machinery and equipment | 23 | €3,117 | €2,354 | -€762 | -24.5% |
| Furniture and vehicles | 24 | €1,020 | €2,748 | +€1,727 | +169% |
| Financial fixed assets | 28 | €53,332 | €94,903 | +€41,571 | +77.9% |
| Current assets | 29/58 | €145,294 | €124,269 | -€21,025 | -14.5% |
| Stocks and contracts in progress | 3 | €41,320 | €33,317 | -€8,003 | -19.4% |
| Stocks | 30/36 | €41,320 | €33,317 | -€8,003 | -19.4% |
| Amounts receivable within one year | 40/41 | €92,876 | €79,722 | -€13,154 | -14.2% |
| Trade receivables | 40 | €90,177 | €79,722 | -€10,455 | -11.6% |
| Other amounts receivable | 41 | €2,699 | - | -€2,699 | |
| Cash at bank and in hand | 54/58 | €9,815 | €9,780 | -€35 | -0.4% |
| Deferred charges and accrued income | 490/1 | €1,283 | €1,450 | +€167 | +13.0% |
| Total equity and liabilities | 10/49 | €202,763 | €224,274 | +€21,510 | +10.6% |
| Equity | 10/15 | €130,832 | €140,869 | +€10,037 | +7.7% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,472 | €126,509 | +€10,037 | +8.6% |
| Amounts payable | 17/49 | €71,931 | €83,405 | +€11,474 | +16.0% |
| Amounts payable after more than one year | 17 | €18,641 | €33,378 | +€14,737 | +79.1% |
| Financial debts | 170/4 | €18,641 | €33,378 | +€14,737 | +79.1% |
| Amounts payable within one year | 42/48 | €53,290 | €47,648 | -€5,642 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €3,288 | €18,330 | +€15,041 | +457% |
| Financial debts | 43 | €8,892 | €8,575 | -€317 | -3.6% |
| Credit institutions | 430/8 | €8,892 | €8,575 | -€317 | -3.6% |
| Trade debts | 44 | €32,923 | €8,766 | -€24,157 | -73.4% |
| Suppliers | 440/4 | €32,923 | €8,766 | -€24,157 | -73.4% |
| Taxes, remuneration and social security | 45 | €8,187 | €11,977 | +€3,790 | +46.3% |
| Taxes | 450/3 | €7,887 | €8,646 | +€758 | +9.6% |
| Remuneration and social security | 454/9 | €300 | €3,332 | +€3,032 | +1,011% |
| Accrued charges and deferred income | 492/3 | - | €2,379 | +€2,379 | |
| Remuneration, social security and pensions | 62 | €44,782 | €25,768 | -€19,014 | -42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,818 | €1,234 | -€1,585 | -56.2% |
| Other operating charges | 640/8 | €3,312 | €1,435 | -€1,876 | -56.7% |
| Non-recurring operating charges | 66A | - | €24 | +€24 | |
| Gross operating margin | 9900 | €81,334 | €48,470 | -€32,865 | -40.4% |
| Operating profit (loss) | 9901 | €30,422 | €20,008 | -€10,414 | -34.2% |
| Financial income | 75/76B | €26 | €3,682 | +€3,656 | +14,116% |
| Recurring financial income | 75 | €26 | €3,682 | +€3,656 | +14,116% |
| Financial charges | 65/66B | €5,042 | €9,813 | +€4,771 | +94.6% |
| Recurring financial charges | 65 | €5,042 | €9,813 | +€4,771 | +94.6% |
| Profit (loss) for the period before taxes | 9903 | €25,406 | €13,877 | -€11,530 | -45.4% |
| Income taxes | 67/77 | €6,104 | €3,840 | -€2,264 | -37.1% |
| Profit (loss) for the period | 9904 | €19,303 | €10,037 | -€9,266 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,303 | €10,037 | -€9,266 | -48.0% |
Next steps
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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 7 November 2026 via checked.be.