RENOVATHOR: 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.
RENOVATHOR
Largest movements
- Stocks and contracts -€19,831
no longer reported in 2025 (was €19,831)
- Tangible fixed assets +€15,535
up €15,535 (+1,425%), from €1,090 to €16,625
of which Furniture and vehicles: +€15,777
- Cash +€4,106
up €4,106 (+1,662%), from €247 to €4,353
mainly Stocks and contracts (+€19,831) and Debts after one year (+€11,229)
- Advances received -€12,459
no longer reported in 2025 (was €12,459)
- Debts after one year +€11,229
new in 2025: €11,229
- Reserves +€7,959
up €7,959 (+13.9%), from €57,100 to €65,059
- Tax, wage and social debts -€6,447
down €6,447 (-32.7%), from €19,738 to €13,291
- Trade debts -€5,630
down €5,630 (-59.4%), from €9,479 to €3,849
- Write-downs +€31,481
new in 2025: €31,481
- Gross operating margin +€6,722
up €6,722 (+18.8%), from €35,850 to €42,572
- Taxes -€5,701
down €5,701 (-64.0%), from €8,904 to €3,203
- Depreciation +€1,249
up €1,249 (+1,077%), from €116 to €1,365
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 | €106,291 | €106,335 | +€44 | 0.0% |
| Fixed assets | 21/28 | €1,390 | €16,925 | +€15,535 | +1,118% |
| Tangible fixed assets | 22/27 | €1,090 | €16,625 | +€15,535 | +1,425% |
| Plant, machinery and equipment | 23 | €1,090 | €848 | -€242 | -22.2% |
| Furniture and vehicles | 24 | - | €15,777 | +€15,777 | |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €104,901 | €89,410 | -€15,491 | -14.8% |
| Stocks and contracts in progress | 3 | €19,831 | - | -€19,831 | |
| Contracts in progress | 37 | €19,831 | - | -€19,831 | |
| Amounts receivable within one year | 40/41 | €84,794 | €85,028 | +€234 | +0.3% |
| Trade receivables | 40 | €31,934 | €16,387 | -€15,547 | -48.7% |
| Other amounts receivable | 41 | €52,860 | €68,641 | +€15,781 | +29.9% |
| Cash at bank and in hand | 54/58 | €247 | €4,353 | +€4,106 | +1,662% |
| Deferred charges and accrued income | 490/1 | €29 | €29 | = | 0.0% |
| Total equity and liabilities | 10/49 | €106,291 | €106,335 | +€44 | 0.0% |
| Equity | 10/15 | €62,100 | €70,059 | +€7,959 | +12.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €57,100 | €65,059 | +€7,959 | +13.9% |
| Distributable reserves | 133 | €57,100 | €65,059 | +€7,959 | +13.9% |
| Amounts payable | 17/49 | €44,191 | €36,276 | -€7,915 | -17.9% |
| Amounts payable after more than one year | 17 | - | €11,229 | +€11,229 | |
| Financial debts | 170/4 | - | €11,229 | +€11,229 | |
| Amounts payable within one year | 42/48 | €41,676 | €22,017 | -€19,659 | -47.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,877 | +€4,877 | |
| Trade debts | 44 | €9,479 | €3,849 | -€5,630 | -59.4% |
| Suppliers | 440/4 | €9,479 | €3,849 | -€5,630 | -59.4% |
| Advances received on contracts in progress | 46 | €12,459 | - | -€12,459 | |
| Taxes, remuneration and social security | 45 | €19,738 | €13,291 | -€6,447 | -32.7% |
| Taxes | 450/3 | €19,738 | €13,291 | -€6,447 | -32.7% |
| Accrued charges and deferred income | 492/3 | €2,515 | €3,030 | +€515 | +20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116 | €1,365 | +€1,249 | +1,077% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €31,481 | +€31,481 | |
| Other operating charges | 640/8 | €628 | €642 | +€14 | +2.2% |
| Gross operating margin | 9900 | €35,850 | €42,572 | +€6,722 | +18.8% |
| Operating profit (loss) | 9901 | €35,106 | €9,084 | -€26,022 | -74.1% |
| Financial income | 75/76B | €2,969 | €3,248 | +€279 | +9.4% |
| Recurring financial income | 75 | €2,969 | €3,248 | +€279 | +9.4% |
| Financial charges | 65/66B | €802 | €1,170 | +€368 | +45.9% |
| Recurring financial charges | 65 | €802 | €1,170 | +€368 | +45.9% |
| Profit (loss) for the period before taxes | 9903 | €37,273 | €11,162 | -€26,111 | -70.1% |
| Income taxes | 67/77 | €8,904 | €3,203 | -€5,701 | -64.0% |
| Profit (loss) for the period | 9904 | €28,369 | €7,959 | -€20,410 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,369 | €7,959 | -€20,410 | -71.9% |
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 15 October 2026 via checked.be.