RENOVECO: 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.
RENOVECO
Largest movements
- Tangible fixed assets -€15,700
down €15,700 (-3.2%), from €494,104 to €478,403
of which Land and buildings: -€15,234
- Trade debts -€15,336
down €15,336 (-99.8%), from €15,373 to €37
- Debts after one year -€14,818
down €14,818 (-3.7%), from €404,395 to €389,577
- Gross operating margin +€10,220
up €10,220 (+43.4%), from €23,557 to €33,777
- Depreciation +€6,724
up €6,724 (+74.9%), from €8,976 to €15,700
- Financial charges +€5,931
up €5,931 (+58.1%), from €10,205 to €16,136
- Other operating charges -€2,632
down €2,632 (-85.0%), from €3,098 to €465
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 | €593,021 | €563,347 | -€29,674 | -5.0% |
| Fixed assets | 21/28 | €494,104 | €478,403 | -€15,700 | -3.2% |
| Tangible fixed assets | 22/27 | €494,104 | €478,403 | -€15,700 | -3.2% |
| Land and buildings | 22 | €493,186 | €477,952 | -€15,234 | -3.1% |
| Plant, machinery and equipment | 23 | €918 | €451 | -€467 | -50.8% |
| Current assets | 29/58 | €98,917 | €84,943 | -€13,974 | -14.1% |
| Stocks and contracts in progress | 3 | €10,814 | €5,282 | -€5,532 | -51.2% |
| Contracts in progress | 37 | €10,814 | €5,282 | -€5,532 | -51.2% |
| Amounts receivable within one year | 40/41 | €21,250 | €18,506 | -€2,744 | -12.9% |
| Trade receivables | 40 | €21,250 | €18,506 | -€2,744 | -12.9% |
| Cash at bank and in hand | 54/58 | €66,555 | €60,841 | -€5,713 | -8.6% |
| Deferred charges and accrued income | 490/1 | €300 | €314 | +€15 | +4.9% |
| Total equity and liabilities | 10/49 | €593,021 | €563,347 | -€29,674 | -5.0% |
| Equity | 10/15 | €11,279 | €12,754 | +€1,475 | +13.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,279 | €2,754 | +€1,475 | +115% |
| Distributable reserves | 133 | €1,279 | €2,754 | +€1,475 | +115% |
| Amounts payable | 17/49 | €581,743 | €550,593 | -€31,150 | -5.4% |
| Amounts payable after more than one year | 17 | €404,395 | €389,577 | -€14,818 | -3.7% |
| Financial debts | 170/4 | €404,395 | €389,577 | -€14,818 | -3.7% |
| Amounts payable within one year | 42/48 | €177,347 | €161,016 | -€16,332 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €16,564 | €16,546 | -€18 | -0.1% |
| Trade debts | 44 | €15,373 | €37 | -€15,336 | -99.8% |
| Suppliers | 440/4 | €15,373 | €37 | -€15,336 | -99.8% |
| Taxes, remuneration and social security | 45 | €2,601 | €1,384 | -€1,218 | -46.8% |
| Taxes | 450/3 | €2,601 | €1,384 | -€1,218 | -46.8% |
| Other amounts payable | 47/48 | €142,809 | €143,049 | +€240 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,976 | €15,700 | +€6,724 | +74.9% |
| Other operating charges | 640/8 | €3,098 | €465 | -€2,632 | -85.0% |
| Gross operating margin | 9900 | €23,557 | €33,777 | +€10,220 | +43.4% |
| Operating profit (loss) | 9901 | €11,483 | €17,611 | +€6,128 | +53.4% |
| Financial charges | 65/66B | €10,205 | €16,136 | +€5,931 | +58.1% |
| Recurring financial charges | 65 | €10,205 | €16,136 | +€5,931 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | €1,279 | €1,475 | +€197 | +15.4% |
| Profit (loss) for the period | 9904 | €1,279 | €1,475 | +€197 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,279 | €1,475 | +€197 | +15.4% |
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 20 October 2026 via checked.be.