RENOVATIO: 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.
RENOVATIO
Largest movements
- Cash +€37,366
up €37,366 (+392%), from €9,530 to €46,896
mainly Receivables within one year (+€22,189) and Net result for the year (+€13,973)
- Receivables within one year -€22,189
down €22,189 (-29.3%), from €75,612 to €53,423
of which Other amounts receivable: -€22,961
- Profit (loss) carried forward +€13,973
up €13,973 (+3.6%), from €393,035 to €407,008
- Gross operating margin -€25,223
down €25,223 (-51.9%), from €48,577 to €23,354
- Taxes -€5,250
down €5,250 (-43.4%), from €12,091 to €6,841
- Depreciation -€2,787
down €2,787 (-71.1%), from €3,920 to €1,132
- Other operating charges -€624
down €624 (-35.1%), from €1,775 to €1,151
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 | €923,059 | €937,093 | +€14,034 | +1.5% |
| Fixed assets | 21/28 | €837,614 | €836,482 | -€1,132 | -0.1% |
| Tangible fixed assets | 22/27 | €2,057 | €925 | -€1,132 | -55.0% |
| Plant, machinery and equipment | 23 | €539 | €212 | -€327 | -60.6% |
| Furniture and vehicles | 24 | €1,518 | €713 | -€805 | -53.0% |
| Financial fixed assets | 28 | €835,557 | €835,557 | = | 0.0% |
| Current assets | 29/58 | €85,445 | €100,611 | +€15,166 | +17.7% |
| Amounts receivable within one year | 40/41 | €75,612 | €53,423 | -€22,189 | -29.3% |
| Trade receivables | 40 | €47,493 | €48,264 | +€772 | +1.6% |
| Other amounts receivable | 41 | €28,120 | €5,159 | -€22,961 | -81.7% |
| Cash at bank and in hand | 54/58 | €9,530 | €46,896 | +€37,366 | +392% |
| Deferred charges and accrued income | 490/1 | €303 | €292 | -€11 | -3.5% |
| Total equity and liabilities | 10/49 | €923,059 | €937,093 | +€14,034 | +1.5% |
| Equity | 10/15 | €820,043 | €834,015 | +€13,973 | +1.7% |
| Contributions | 10/11 | €215,300 | €215,300 | = | 0.0% |
| Reserves | 13 | €211,707 | €211,707 | = | 0.0% |
| Distributable reserves | 133 | €211,707 | €211,707 | = | 0.0% |
| Profit (loss) carried forward | 14 | €393,035 | €407,008 | +€13,973 | +3.6% |
| Amounts payable | 17/49 | €103,016 | €103,078 | +€61 | +0.1% |
| Amounts payable after more than one year | 17 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €23,016 | €23,078 | +€61 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,652 | €4,131 | +€1,479 | +55.8% |
| Suppliers | 440/4 | €2,652 | €4,131 | +€1,479 | +55.8% |
| Taxes, remuneration and social security | 45 | €12,317 | €10,156 | -€2,161 | -17.5% |
| Taxes | 450/3 | €10,541 | €8,107 | -€2,433 | -23.1% |
| Remuneration and social security | 454/9 | €1,776 | €2,049 | +€272 | +15.3% |
| Other amounts payable | 47/48 | €8,048 | €8,791 | +€743 | +9.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,920 | €1,132 | -€2,787 | -71.1% |
| Other operating charges | 640/8 | €1,775 | €1,151 | -€624 | -35.1% |
| Gross operating margin | 9900 | €48,577 | €23,354 | -€25,223 | -51.9% |
| Operating profit (loss) | 9901 | €42,882 | €21,070 | -€21,812 | -50.9% |
| Financial income | 75/76B | €81 | €80 | -€1 | -1.6% |
| Recurring financial income | 75 | €81 | €80 | -€1 | -1.6% |
| Financial charges | 65/66B | €369 | €336 | -€33 | -9.0% |
| Recurring financial charges | 65 | €369 | €336 | -€33 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €42,594 | €20,814 | -€21,780 | -51.1% |
| Income taxes | 67/77 | €12,091 | €6,841 | -€5,250 | -43.4% |
| Profit (loss) for the period | 9904 | €30,503 | €13,973 | -€16,530 | -54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,503 | €13,973 | -€16,530 | -54.2% |
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 24 October 2026 via checked.be.