RENOVATION EXCELENT: 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 EXCELENT
Largest movements
- Receivables within one year +€41,396
up €41,396 (+108%), from €38,474 to €79,870
of which Trade receivables: +€45,509
- Cash +€10,751
up €10,751 (+47.7%), from €22,562 to €33,313
mainly Trade debts (+€46,176) and Net result for the year (+€8,487)
- Trade debts +€46,176
up €46,176 (+665%), from €6,948 to €53,124
of which Bills of exchange payable: +€46,251
- Profit (loss) carried forward +€8,487
up €8,487 (+19.6%), from €43,200 to €51,687
- Current portion of long-term debt -€4,761
no longer reported in 2025 (was €4,761)
- Tax, wage and social debts +€1,665
up €1,665 (+190%), from €875 to €2,540
- Depreciation -€5,386
down €5,386 (-86.4%), from €6,230 to €844
- Gross operating margin +€2,213
up €2,213 (+21.0%), from €10,527 to €12,740
- Taxes +€1,665
up €1,665 (+190%), from €875 to €2,540
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 | €62,284 | €113,586 | +€51,302 | +82.4% |
| Fixed assets | 21/28 | €1,248 | €404 | -€844 | -67.6% |
| Tangible fixed assets | 22/27 | €1,248 | €404 | -€844 | -67.6% |
| Furniture and vehicles | 24 | €1,248 | €404 | -€844 | -67.6% |
| Current assets | 29/58 | €61,036 | €113,182 | +€52,147 | +85.4% |
| Amounts receivable within one year | 40/41 | €38,474 | €79,870 | +€41,396 | +108% |
| Trade receivables | 40 | €20,867 | €66,377 | +€45,509 | +218% |
| Other amounts receivable | 41 | €17,607 | €13,493 | -€4,114 | -23.4% |
| Cash at bank and in hand | 54/58 | €22,562 | €33,313 | +€10,751 | +47.7% |
| Total equity and liabilities | 10/49 | €62,284 | €113,586 | +€51,302 | +82.4% |
| Equity | 10/15 | €49,400 | €57,887 | +€8,487 | +17.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,200 | €51,687 | +€8,487 | +19.6% |
| Amounts payable | 17/49 | €12,884 | €55,700 | +€42,815 | +332% |
| Amounts payable after more than one year | 17 | €264 | - | -€264 | |
| Financial debts | 170/4 | €264 | - | -€264 | |
| Amounts payable within one year | 42/48 | €12,620 | €55,700 | +€43,080 | +341% |
| Current portion of amounts payable after more than one year | 42 | €4,761 | - | -€4,761 | |
| Financial debts | 43 | €36 | €36 | = | 0.0% |
| Credit institutions | 430/8 | €36 | €36 | = | 0.0% |
| Trade debts | 44 | €6,948 | €53,124 | +€46,176 | +665% |
| Suppliers | 440/4 | €1,534 | €1,458 | -€75 | -4.9% |
| Bills of exchange payable | 441 | €5,415 | €51,666 | +€46,251 | +854% |
| Taxes, remuneration and social security | 45 | €875 | €2,540 | +€1,665 | +190% |
| Taxes | 450/3 | €875 | €2,540 | +€1,665 | +190% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,230 | €844 | -€5,386 | -86.4% |
| Other operating charges | 640/8 | €893 | €780 | -€113 | -12.7% |
| Gross operating margin | 9900 | €10,527 | €12,740 | +€2,213 | +21.0% |
| Operating profit (loss) | 9901 | €3,403 | €11,116 | +€7,712 | +227% |
| Financial charges | 65/66B | €84 | €89 | +€5 | +5.4% |
| Recurring financial charges | 65 | €84 | €89 | +€5 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €3,319 | €11,027 | +€7,708 | +232% |
| Income taxes | 67/77 | €875 | €2,540 | +€1,665 | +190% |
| Profit (loss) for the period | 9904 | €2,444 | €8,487 | +€6,043 | +247% |
| Profit (loss) for the period to be appropriated | 9905 | €2,444 | €8,487 | +€6,043 | +247% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.