RENOWAL: 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.
RENOWAL
Largest movements
- Cash -€39,571
down €39,571 (-13.9%), from €285,284 to €245,713
mainly Advances received (-€53,106) and Receivables within one year (-€6,417)
- Tangible fixed assets -€13,240
down €13,240 (-53.3%), from €24,851 to €11,611
of which Land and buildings: -€20,553
- Receivables within one year +€6,417
up €6,417 (+19.8%), from €32,354 to €38,770
of which Other amounts receivable: +€6,118
- Advances received -€53,106
down €53,106 (-38.8%), from €136,736 to €83,629
- Gross operating margin -€9,613
down €9,613 (-3.3%), from €291,530 to €281,916
- Staff costs +€9,447
up €9,447 (+3.7%), from €258,817 to €268,264
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 | €353,196 | €306,743 | -€46,454 | -13.2% |
| Formation expenses | 20 | €350 | €119 | -€231 | -66.0% |
| Fixed assets | 21/28 | €25,002 | €11,762 | -€13,240 | -53.0% |
| Tangible fixed assets | 22/27 | €24,851 | €11,611 | -€13,240 | -53.3% |
| Land and buildings | 22 | €23,184 | €2,631 | -€20,553 | -88.7% |
| Plant, machinery and equipment | 23 | - | €1,097 | +€1,097 | |
| Furniture and vehicles | 24 | €1,667 | €7,884 | +€6,217 | +373% |
| Financial fixed assets | 28 | €151 | €151 | = | 0.0% |
| Current assets | 29/58 | €327,845 | €294,861 | -€32,983 | -10.1% |
| Amounts receivable within one year | 40/41 | €32,354 | €38,770 | +€6,417 | +19.8% |
| Trade receivables | 40 | €32,329 | €32,628 | +€299 | +0.9% |
| Other amounts receivable | 41 | €25 | €6,143 | +€6,118 | +24,353% |
| Cash at bank and in hand | 54/58 | €285,284 | €245,713 | -€39,571 | -13.9% |
| Deferred charges and accrued income | 490/1 | €10,207 | €10,378 | +€171 | +1.7% |
| Total equity and liabilities | 10/49 | €353,196 | €306,743 | -€46,454 | -13.2% |
| Equity | 10/15 | €141,194 | €144,535 | +€3,341 | +2.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €82,000 | €82,000 | = | 0.0% |
| Distributable reserves | 133 | €82,000 | €82,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,742 | €42,083 | +€3,341 | +8.6% |
| Amounts payable | 17/49 | €212,003 | €162,208 | -€49,795 | -23.5% |
| Amounts payable within one year | 42/48 | €211,692 | €161,773 | -€49,919 | -23.6% |
| Financial debts | 43 | €899 | - | -€899 | |
| Credit institutions | 430/8 | €899 | - | -€899 | |
| Trade debts | 44 | €34,989 | €38,087 | +€3,098 | +8.9% |
| Suppliers | 440/4 | €34,989 | €38,087 | +€3,098 | +8.9% |
| Advances received on contracts in progress | 46 | €136,736 | €83,629 | -€53,106 | -38.8% |
| Taxes, remuneration and social security | 45 | €37,405 | €36,369 | -€1,036 | -2.8% |
| Taxes | 450/3 | €7,677 | €7,597 | -€80 | -1.0% |
| Remuneration and social security | 454/9 | €29,728 | €28,773 | -€955 | -3.2% |
| Other amounts payable | 47/48 | €1,662 | €3,687 | +€2,025 | +122% |
| Accrued charges and deferred income | 492/3 | €311 | €435 | +€124 | +39.9% |
| Remuneration, social security and pensions | 62 | €258,817 | €268,264 | +€9,447 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,462 | €3,258 | +€1,796 | +123% |
| Other operating charges | 640/8 | €2,349 | €3,153 | +€804 | +34.2% |
| Gross operating margin | 9900 | €291,530 | €281,916 | -€9,613 | -3.3% |
| Operating profit (loss) | 9901 | €28,902 | €7,241 | -€21,661 | -74.9% |
| Financial income | 75/76B | €1,105 | €1,001 | -€104 | -9.4% |
| Recurring financial income | 75 | €1,105 | €1,001 | -€104 | -9.4% |
| Financial charges | 65/66B | €823 | €761 | -€62 | -7.6% |
| Recurring financial charges | 65 | €823 | €761 | -€62 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €29,184 | €7,481 | -€21,703 | -74.4% |
| Income taxes | 67/77 | €6,297 | €4,140 | -€2,157 | -34.2% |
| Profit (loss) for the period | 9904 | €22,887 | €3,341 | -€19,546 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,887 | €3,341 | -€19,546 | -85.4% |
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 30 October 2026 via checked.be.