RENOVO: 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.
What changed
RENOVO
NACE 47.551, Retail sale of household furniture
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€102,955
2024 · €135,975-€33,020
Equity
€1.3m
2024 · €1.2m+€102,955
Cash
€165,950
2024 · €51,836+€114,114
Balance sheet total
€1.8m
2024 · €1.5m+€260,067
Largest movements
Assets
- Receivables within one year +€175,161
up €175,161 (+135%), from €129,283 to €304,444
of which Other amounts receivable: +€136,128
- Cash +€114,114
up €114,114 (+220%), from €51,836 to €165,950
mainly Net result for the year (+€102,955) and Advances received (+€64,992)
- Receivables after one year -€59,239
no longer reported in 2025 (was €59,239)
Equity and liabilities
- Reserves +€102,000
up €102,000 (+48.3%), from €211,060 to €313,060
- Advances received +€64,992
up €64,992 (+51.0%), from €127,391 to €192,383
- Tax, wage and social debts +€55,870
up €55,870 (+114%), from €48,909 to €104,779
of which Remuneration and social security: +€38,135
- Other debts +€19,766
up €19,766 (+65.1%), from €30,345 to €50,111
Income statement
- Staff costs +€45,872
up €45,872 (+12.0%), from €381,168 to €427,040
- Gross operating margin +€16,813
up €16,813 (+2.8%), from €592,011 to €608,824
- Depreciation +€8,723
up €8,723 (+18.9%), from €46,051 to €54,774
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.
Result 2024
€135,975
Gross operating margin
+€16,813
Staff costs
-€45,872
Depreciation
-€8,723
Other operating charges
+€216
Other operating items
-€546
Financial income
-€1,300
Financial charges
+€3,380
Taxes
+€3,012
Result 2025
€102,955
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€158,448
Investment
-€61,989
Financing
+€17,655
Cash 2024
€51,836
From operations (derived)
+€158,448
Net result for the year
+€102,955
Depreciation
+€54,774
Receivables after one year
+€59,239
Stocks and contracts
-€16,488
Receivables within one year
-€175,161
Deferred charges and accrued income
-€6,328
Trade debts
-€3,030
Tax, wage and social debts
+€55,870
Advances received
+€64,992
Other debts
+€19,766
Accrued charges and deferred income
+€1,859
Investment (derived)
-€61,989
Investment in fixed assets (net)
-€61,989
Financing
+€17,655
Debts after one year
+€12,651
Current portion of long-term debt
+€5,004
Cash 2025
€165,950
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,506,786 | €1,766,853 | +€260,067 | +17.3% |
| Fixed assets | 21/28 | €1,194,657 | €1,201,872 | +€7,215 | +0.6% |
| Intangible fixed assets | 21 | €44,976 | €45,118 | +€142 | +0.3% |
| Tangible fixed assets | 22/27 | €1,142,520 | €1,149,593 | +€7,073 | +0.6% |
| Land and buildings | 22 | €1,100,473 | €1,091,909 | -€8,564 | -0.8% |
| Plant, machinery and equipment | 23 | €13,684 | €28,380 | +€14,696 | +107% |
| Furniture and vehicles | 24 | €5,772 | €9,569 | +€3,797 | +65.8% |
| Other tangible fixed assets | 26 | €22,591 | €19,735 | -€2,856 | -12.6% |
| Financial fixed assets | 28 | €7,161 | €7,161 | = | 0.0% |
| Current assets | 29/58 | €312,129 | €564,981 | +€252,852 | +81.0% |
| Amounts receivable after more than one year | 29 | €59,239 | - | -€59,239 | |
| Trade receivables | 290 | €59,239 | - | -€59,239 | |
| Stocks and contracts in progress | 3 | €68,226 | €84,714 | +€16,488 | +24.2% |
| Stocks | 30/36 | €68,226 | €84,714 | +€16,488 | +24.2% |
| Amounts receivable within one year | 40/41 | €129,283 | €304,444 | +€175,161 | +135% |
| Trade receivables | 40 | €80,660 | €119,693 | +€39,033 | +48.4% |
| Other amounts receivable | 41 | €48,623 | €184,751 | +€136,128 | +280% |
| Cash at bank and in hand | 54/58 | €51,836 | €165,950 | +€114,114 | +220% |
| Deferred charges and accrued income | 490/1 | €3,545 | €9,873 | +€6,328 | +179% |
| Total equity and liabilities | 10/49 | €1,506,786 | €1,766,853 | +€260,067 | +17.3% |
| Equity | 10/15 | €1,214,303 | €1,317,258 | +€102,955 | +8.5% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Revaluation surpluses | 12 | €279,389 | €279,389 | = | 0.0% |
| Reserves | 13 | €211,060 | €313,060 | +€102,000 | +48.3% |
| Distributable reserves | 133 | €211,060 | €313,060 | +€102,000 | +48.3% |
| Profit (loss) carried forward | 14 | €699,065 | €700,020 | +€955 | +0.1% |
| Amounts payable | 17/49 | €292,483 | €449,595 | +€157,112 | +53.7% |
| Amounts payable after more than one year | 17 | €4,605 | €17,256 | +€12,651 | +275% |
| Financial debts | 170/4 | €4,605 | €17,256 | +€12,651 | +275% |
| Amounts payable within one year | 42/48 | €287,878 | €430,480 | +€142,602 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €2,569 | €7,573 | +€5,004 | +195% |
| Trade debts | 44 | €78,664 | €75,634 | -€3,030 | -3.9% |
| Suppliers | 440/4 | €78,664 | €75,634 | -€3,030 | -3.9% |
| Advances received on contracts in progress | 46 | €127,391 | €192,383 | +€64,992 | +51.0% |
| Taxes, remuneration and social security | 45 | €48,909 | €104,779 | +€55,870 | +114% |
| Taxes | 450/3 | €24,202 | €41,937 | +€17,735 | +73.3% |
| Remuneration and social security | 454/9 | €24,707 | €62,842 | +€38,135 | +154% |
| Other amounts payable | 47/48 | €30,345 | €50,111 | +€19,766 | +65.1% |
| Accrued charges and deferred income | 492/3 | - | €1,859 | +€1,859 | |
| Non-recurring operating income | 76A | €40,894 | €20,801 | -€20,093 | -49.1% |
| Remuneration, social security and pensions | 62 | €381,168 | €427,040 | +€45,872 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,051 | €54,774 | +€8,723 | +18.9% |
| Other operating charges | 640/8 | €11,056 | €10,840 | -€216 | -2.0% |
| Non-recurring operating charges | 66A | - | €546 | +€546 | |
| Gross operating margin | 9900 | €592,011 | €608,824 | +€16,813 | +2.8% |
| Operating profit (loss) | 9901 | €153,736 | €115,624 | -€38,112 | -24.8% |
| Financial income | 75/76B | €2,419 | €1,119 | -€1,300 | -53.7% |
| Recurring financial income | 75 | €766 | €1,119 | +€353 | +46.1% |
| Non-recurring financial income | 76B | €1,653 | - | -€1,653 | |
| Financial charges | 65/66B | €6,403 | €3,023 | -€3,380 | -52.8% |
| Recurring financial charges | 65 | €6,403 | €3,023 | -€3,380 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | €149,752 | €113,720 | -€36,032 | -24.1% |
| Income taxes | 67/77 | €13,777 | €10,765 | -€3,012 | -21.9% |
| Profit (loss) for the period | 9904 | €135,975 | €102,955 | -€33,020 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €135,975 | €102,955 | -€33,020 | -24.3% |
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 26 October 2026 via checked.be.