RENOVELEC: 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.
RENOVELEC
Largest movements
- Cash +€16,225
up €16,225 (+166%), from €9,754 to €25,979
mainly Net result for the year (+€15,117) and Trade debts (+€8,837)
- Receivables within one year +€8,154
up €8,154 (+5.5%), from €148,631 to €156,784
of which Trade receivables: +€5,930
- Tangible fixed assets -€4,470
down €4,470 (-28.9%), from €15,489 to €11,020
of which Furniture and vehicles: -€4,302
- Reserves +€15,000
up €15,000 (+52.0%), from €28,860 to €43,860
of which Distributable reserves: +€15,000
- Trade debts +€8,837
up €8,837 (+742%), from €1,191 to €10,028
- Debts after one year -€6,134
down €6,134 (-58.8%), from €10,426 to €4,292
- Tax, wage and social debts +€5,582
up €5,582 (+87.6%), from €6,371 to €11,952
- Short-term financial debts -€3,800
down €3,800 (-13.6%), from €28,000 to €24,200
- Gross operating margin -€12,821
down €12,821 (-36.0%), from €35,590 to €22,769
- Taxes +€1,467
up €1,467 (+30.6%), from €4,794 to €6,261
- Depreciation -€652
down €652 (-12.7%), from €5,122 to €4,470
- Financial charges -€613
down €613 (-15.9%), from €3,857 to €3,243
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 | €175,409 | €195,358 | +€19,949 | +11.4% |
| Fixed assets | 21/28 | €15,514 | €11,045 | -€4,470 | -28.8% |
| Tangible fixed assets | 22/27 | €15,489 | €11,020 | -€4,470 | -28.9% |
| Plant, machinery and equipment | 23 | €168 | - | -€168 | |
| Furniture and vehicles | 24 | €15,322 | €11,020 | -€4,302 | -28.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €159,895 | €184,313 | +€24,419 | +15.3% |
| Amounts receivable within one year | 40/41 | €148,631 | €156,784 | +€8,154 | +5.5% |
| Trade receivables | 40 | €22,315 | €28,245 | +€5,930 | +26.6% |
| Other amounts receivable | 41 | €126,316 | €128,539 | +€2,224 | +1.8% |
| Cash at bank and in hand | 54/58 | €9,754 | €25,979 | +€16,225 | +166% |
| Deferred charges and accrued income | 490/1 | €1,510 | €1,549 | +€40 | +2.6% |
| Total equity and liabilities | 10/49 | €175,409 | €195,358 | +€19,949 | +11.4% |
| Equity | 10/15 | €123,635 | €138,752 | +€15,117 | +12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,860 | €43,860 | +€15,000 | +52.0% |
| 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 | €27,000 | €42,000 | +€15,000 | +55.6% |
| Profit (loss) carried forward | 14 | €88,575 | €88,692 | +€117 | +0.1% |
| Amounts payable | 17/49 | €51,774 | €56,606 | +€4,832 | +9.3% |
| Amounts payable after more than one year | 17 | €10,426 | €4,292 | -€6,134 | -58.8% |
| Financial debts | 170/4 | €10,426 | €4,292 | -€6,134 | -58.8% |
| Amounts payable within one year | 42/48 | €41,349 | €52,314 | +€10,966 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €5,787 | €6,134 | +€347 | +6.0% |
| Financial debts | 43 | €28,000 | €24,200 | -€3,800 | -13.6% |
| Credit institutions | 430/8 | €28,000 | €24,200 | -€3,800 | -13.6% |
| Trade debts | 44 | €1,191 | €10,028 | +€8,837 | +742% |
| Suppliers | 440/4 | €1,191 | €10,028 | +€8,837 | +742% |
| Taxes, remuneration and social security | 45 | €6,371 | €11,952 | +€5,582 | +87.6% |
| Taxes | 450/3 | €6,371 | €11,952 | +€5,582 | +87.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,122 | €4,470 | -€652 | -12.7% |
| Other operating charges | 640/8 | €362 | €188 | -€174 | -48.0% |
| Gross operating margin | 9900 | €35,590 | €22,769 | -€12,821 | -36.0% |
| Operating profit (loss) | 9901 | €30,106 | €18,111 | -€11,995 | -39.8% |
| Financial income | 75/76B | €6,276 | €6,510 | +€234 | +3.7% |
| Recurring financial income | 75 | €6,276 | €6,510 | +€234 | +3.7% |
| Financial charges | 65/66B | €3,857 | €3,243 | -€613 | -15.9% |
| Recurring financial charges | 65 | €3,857 | €3,243 | -€613 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €32,526 | €21,378 | -€11,148 | -34.3% |
| Income taxes | 67/77 | €4,794 | €6,261 | +€1,467 | +30.6% |
| Profit (loss) for the period | 9904 | €27,731 | €15,117 | -€12,615 | -45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,731 | €15,117 | -€12,615 | -45.5% |
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.