RENOVATION CONCEPT: 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.
RENOVATION CONCEPT
Largest movements
- Formation expenses +€35,034
new in 2025: €35,034
- Receivables within one year -€23,962
down €23,962 (-27.9%), from €85,850 to €61,888
of which Trade receivables: -€17,120
- Stocks and contracts +€19,754
up €19,754 (+47.4%), from €41,672 to €61,426
- Cash -€12,845
down €12,845 (-41.6%), from €30,911 to €18,066
mainly Trade debts (-€38,339) and Investment in fixed assets (net) (-€36,025)
- Tangible fixed assets -€5,244
down €5,244 (-35.0%), from €14,993 to €9,749
- Trade debts -€38,339
down €38,339 (-54.8%), from €69,939 to €31,600
- Debts after one year +€21,884
new in 2025: €21,884
- Current portion of long-term debt +€11,272
new in 2025: €11,272
- Tax, wage and social debts +€10,259
up €10,259 (+372%), from €2,761 to €13,019
of which Remuneration and social security: +€6,493
- Profit (loss) carried forward +€5,432
up €5,432 (+30.5%), from €17,822 to €23,254
- Gross operating margin -€157,108
down €157,108 (-34.6%), from €454,331 to €297,223
- Other operating charges -€90,977
down €90,977 (-96.4%), from €94,382 to €3,405
- Staff costs -€77,368
down €77,368 (-22.3%), from €346,455 to €269,087
- Depreciation -€8,193
down €8,193 (-45.4%), from €18,065 to €9,872
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 | €187,351 | €196,492 | +€9,141 | +4.9% |
| Formation expenses | 20 | - | €35,034 | +€35,034 | |
| Fixed assets | 21/28 | €26,917 | €18,036 | -€8,881 | -33.0% |
| Intangible fixed assets | 21 | €11,404 | €7,768 | -€3,637 | -31.9% |
| Tangible fixed assets | 22/27 | €14,993 | €9,749 | -€5,244 | -35.0% |
| Plant, machinery and equipment | 23 | €3,222 | €1,649 | -€1,573 | -48.8% |
| Furniture and vehicles | 24 | €6,929 | €4,593 | -€2,336 | -33.7% |
| Leasing and similar rights | 25 | €3,833 | €2,810 | -€1,023 | -26.7% |
| Other tangible fixed assets | 26 | €1,009 | €696 | -€313 | -31.0% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €160,435 | €143,422 | -€17,012 | -10.6% |
| Stocks and contracts in progress | 3 | €41,672 | €61,426 | +€19,754 | +47.4% |
| Stocks | 30/36 | €41,672 | €61,426 | +€19,754 | +47.4% |
| Amounts receivable within one year | 40/41 | €85,850 | €61,888 | -€23,962 | -27.9% |
| Trade receivables | 40 | €61,195 | €44,076 | -€17,120 | -28.0% |
| Other amounts receivable | 41 | €24,655 | €17,813 | -€6,842 | -27.8% |
| Cash at bank and in hand | 54/58 | €30,911 | €18,066 | -€12,845 | -41.6% |
| Deferred charges and accrued income | 490/1 | €2,001 | €2,042 | +€41 | +2.0% |
| Total equity and liabilities | 10/49 | €187,351 | €196,492 | +€9,141 | +4.9% |
| Equity | 10/15 | €111,686 | €117,118 | +€5,432 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €71,860 | €71,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,822 | €23,254 | +€5,432 | +30.5% |
| Investment grants | 15 | €3,404 | €3,404 | = | 0.0% |
| Amounts payable | 17/49 | €75,665 | €79,374 | +€3,709 | +4.9% |
| Amounts payable after more than one year | 17 | - | €21,884 | +€21,884 | |
| Financial debts | 170/4 | - | €21,884 | +€21,884 | |
| Amounts payable within one year | 42/48 | €75,665 | €57,490 | -€18,175 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,272 | +€11,272 | |
| Financial debts | 43 | €1,608 | - | -€1,608 | |
| Credit institutions | 430/8 | €1,608 | - | -€1,608 | |
| Trade debts | 44 | €69,939 | €31,600 | -€38,339 | -54.8% |
| Suppliers | 440/4 | €69,939 | €31,600 | -€38,339 | -54.8% |
| Taxes, remuneration and social security | 45 | €2,761 | €13,019 | +€10,259 | +372% |
| Taxes | 450/3 | €386 | €4,152 | +€3,766 | +975% |
| Remuneration and social security | 454/9 | €2,374 | €8,867 | +€6,493 | +273% |
| Other amounts payable | 47/48 | €1,358 | €1,599 | +€242 | +17.8% |
| Remuneration, social security and pensions | 62 | €346,455 | €269,087 | -€77,368 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,065 | €9,872 | -€8,193 | -45.4% |
| Other operating charges | 640/8 | €94,382 | €3,405 | -€90,977 | -96.4% |
| Non-recurring operating charges | 66A | €2,866 | €2,466 | -€400 | -14.0% |
| Gross operating margin | 9900 | €454,331 | €297,223 | -€157,108 | -34.6% |
| Operating profit (loss) | 9901 | -€7,437 | €12,393 | +€19,830 | |
| Financial income | 75/76B | €2,203 | €2,518 | +€315 | +14.3% |
| Recurring financial income | 75 | €2,203 | €2,518 | +€315 | +14.3% |
| Financial charges | 65/66B | €8,561 | €5,828 | -€2,733 | -31.9% |
| Recurring financial charges | 65 | €8,561 | €5,828 | -€2,733 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,796 | €9,083 | +€22,879 | |
| Income taxes | 67/77 | €253 | €3,651 | +€3,399 | +1,345% |
| Profit (loss) for the period | 9904 | -€14,048 | €5,432 | +€19,480 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,048 | €5,432 | +€19,480 |
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.