RENOVEST PROJECTS: 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.
RENOVEST PROJECTS
Largest movements
- Cash +€67,077
up €67,077 (+51.6%), from €129,935 to €197,012
mainly Trade debts (+€53,665) and Depreciation (+€35,530)
- Tangible fixed assets -€35,026
down €35,026 (-11.5%), from €305,382 to €270,355
of which Land and buildings: -€17,659
- Receivables within one year +€19,570
up €19,570 (+7.8%), from €250,555 to €270,125
of which Trade receivables: +€26,498
- Stocks and contracts -€19,335
down €19,335 (-49.5%), from €39,034 to €19,699
- Trade debts +€53,665
up €53,665 (+55.7%), from €96,431 to €150,096
- Short-term financial debts -€23,823
down €23,823 (-70.4%), from €33,843 to €10,020
- Debts after one year -€22,958
down €22,958 (-13.5%), from €169,643 to €146,685
- Reserves +€13,088
up €13,088 (+4.8%), from €272,143 to €285,232
of which Distributable reserves: +€13,088
- Gross operating margin -€58,390
down €58,390 (-23.2%), from €251,503 to €193,113
- Taxes -€9,602
down €9,602 (-39.7%), from €24,204 to €14,602
- Write-downs -€5,692
down €5,692 (-100%), from €5,692 to €0
- Financial income +€3,387
up €3,387 (+144%), from €2,350 to €5,737
- Depreciation -€3,006
down €3,006 (-7.8%), from €38,537 to €35,530
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 | €765,635 | €792,668 | +€27,033 | +3.5% |
| Fixed assets | 21/28 | €320,637 | €288,106 | -€32,530 | -10.1% |
| Intangible fixed assets | 21 | - | €2,496 | +€2,496 | |
| Tangible fixed assets | 22/27 | €305,382 | €270,355 | -€35,026 | -11.5% |
| Land and buildings | 22 | €251,385 | €233,726 | -€17,659 | -7.0% |
| Plant, machinery and equipment | 23 | €7,673 | €4,402 | -€3,271 | -42.6% |
| Furniture and vehicles | 24 | €2,095 | €598 | -€1,497 | -71.5% |
| Other tangible fixed assets | 26 | €44,229 | €31,630 | -€12,599 | -28.5% |
| Financial fixed assets | 28 | €15,255 | €15,255 | = | 0.0% |
| Current assets | 29/58 | €444,999 | €504,562 | +€59,563 | +13.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €39,034 | €19,699 | -€19,335 | -49.5% |
| Stocks | 30/36 | €39,034 | €19,699 | -€19,335 | -49.5% |
| Amounts receivable within one year | 40/41 | €250,555 | €270,125 | +€19,570 | +7.8% |
| Trade receivables | 40 | €203,814 | €230,313 | +€26,498 | +13.0% |
| Other amounts receivable | 41 | €46,741 | €39,812 | -€6,928 | -14.8% |
| Cash at bank and in hand | 54/58 | €129,935 | €197,012 | +€67,077 | +51.6% |
| Deferred charges and accrued income | 490/1 | €25,475 | €17,725 | -€7,749 | -30.4% |
| Total equity and liabilities | 10/49 | €765,635 | €792,668 | +€27,033 | +3.5% |
| Equity | 10/15 | €307,584 | €320,672 | +€13,088 | +4.3% |
| Contributions | 10/11 | €35,441 | €35,441 | = | 0.0% |
| Reserves | 13 | €272,143 | €285,232 | +€13,088 | +4.8% |
| Non-distributable reserves | 130/1 | €1,593 | €1,593 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,593 | €1,593 | = | 0.0% |
| Distributable reserves | 133 | €270,551 | €283,639 | +€13,088 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €458,051 | €471,996 | +€13,944 | +3.0% |
| Amounts payable after more than one year | 17 | €169,643 | €146,685 | -€22,958 | -13.5% |
| Financial debts | 170/4 | €169,643 | €146,685 | -€22,958 | -13.5% |
| Amounts payable within one year | 42/48 | €285,403 | €322,261 | +€36,858 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €25,164 | €22,958 | -€2,206 | -8.8% |
| Financial debts | 43 | €33,843 | €10,020 | -€23,823 | -70.4% |
| Credit institutions | 430/8 | €33,843 | €10,020 | -€23,823 | -70.4% |
| Trade debts | 44 | €96,431 | €150,096 | +€53,665 | +55.7% |
| Suppliers | 440/4 | €96,431 | €150,096 | +€53,665 | +55.7% |
| Advances received on contracts in progress | 46 | €75,962 | €75,962 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,662 | €15,283 | +€5,620 | +58.2% |
| Taxes | 450/3 | €7,398 | €8,029 | +€631 | +8.5% |
| Remuneration and social security | 454/9 | €2,264 | €7,254 | +€4,989 | +220% |
| Other amounts payable | 47/48 | €44,341 | €47,943 | +€3,602 | +8.1% |
| Accrued charges and deferred income | 492/3 | €3,006 | €3,050 | +€44 | +1.5% |
| Remuneration, social security and pensions | 62 | €89,540 | €91,869 | +€2,329 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,537 | €35,530 | -€3,006 | -7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,692 | €0 | -€5,692 | -100% |
| Other operating charges | 640/8 | €3,676 | €5,007 | +€1,331 | +36.2% |
| Gross operating margin | 9900 | €251,503 | €193,113 | -€58,390 | -23.2% |
| Operating profit (loss) | 9901 | €114,058 | €60,707 | -€53,350 | -46.8% |
| Financial income | 75/76B | €2,350 | €5,737 | +€3,387 | +144% |
| Recurring financial income | 75 | €2,350 | €5,737 | +€3,387 | +144% |
| Financial charges | 65/66B | €20,889 | €17,995 | -€2,894 | -13.9% |
| Recurring financial charges | 65 | €20,889 | €17,995 | -€2,894 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €95,519 | €48,449 | -€47,069 | -49.3% |
| Income taxes | 67/77 | €24,204 | €14,602 | -€9,602 | -39.7% |
| Profit (loss) for the period | 9904 | €71,315 | €33,848 | -€37,467 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €71,315 | €33,848 | -€37,467 | -52.5% |
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 18 October 2026 via checked.be.