RENOWATION: 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.
RENOWATION
Largest movements
- Receivables within one year +€33,520
up €33,520 (+104.9%), from €31,953 to €65,473
of which Trade receivables: +€28,134
- Stocks and contracts +€18,685
new in 2025: €18,685
- Cash -€6,026
down €6,026 (-96.3%), from €6,258 to €232
mainly Receivables within one year (-€33,520) and Stocks and contracts (-€18,685)
- Tangible fixed assets +€2,465
up €2,465 (+30.2%), from €8,173 to €10,639
of which Furniture and vehicles: +€4,380
- Trade debts +€20,888
up €20,888 (+97.0%), from €21,544 to €42,432
- Profit (loss) carried forward +€13,754
up €13,754 (+128.6%), from €10,697 to €24,450
- Other debts +€11,000
new in 2025: €11,000
- Tax, wage and social debts +€6,476
up €6,476 (+407.1%), from €1,590 to €8,066
- Debts after one year -€4,103
no longer reported in 2025 (was €4,103)
- Gross operating margin +€26,300
up €26,300 (+194.8%), from €13,498 to €39,798
- Taxes +€5,586
up €5,586 (+450.5%), from €1,240 to €6,826
- Depreciation +€2,057
up €2,057 (+39.2%), from €5,244 to €7,301
- Other operating charges -€1,135
down €1,135 (-59.0%), from €1,922 to €787
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.
Cash bridge derived
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 | €47,458 | €96,116 | +€48,658 | +102.5% |
| Formation expenses | 20 | €292 | €103 | -€189 | -64.7% |
| Fixed assets | 21/28 | €8,220 | €10,686 | +€2,465 | +30.0% |
| Tangible fixed assets | 22/27 | €8,173 | €10,639 | +€2,465 | +30.2% |
| Plant, machinery and equipment | 23 | €1,761 | €3,598 | +€1,837 | +104.3% |
| Furniture and vehicles | 24 | €286 | €4,666 | +€4,380 | +1533.9% |
| Leasing and similar rights | 25 | €6,127 | €2,375 | -€3,752 | -61.2% |
| Financial fixed assets | 28 | €47 | €47 | = | 0.0% |
| Current assets | 29/58 | €38,945 | €85,327 | +€46,382 | +119.1% |
| Stocks and contracts in progress | 3 | - | €18,685 | +€18,685 | |
| Stocks | 30/36 | - | €18,685 | +€18,685 | |
| Amounts receivable within one year | 40/41 | €31,953 | €65,473 | +€33,520 | +104.9% |
| Trade receivables | 40 | €25,230 | €53,364 | +€28,134 | +111.5% |
| Other amounts receivable | 41 | €6,723 | €12,109 | +€5,386 | +80.1% |
| Cash at bank and in hand | 54/58 | €6,258 | €232 | -€6,026 | -96.3% |
| Deferred charges and accrued income | 490/1 | €734 | €937 | +€203 | +27.6% |
| Total equity and liabilities | 10/49 | €47,458 | €96,116 | +€48,658 | +102.5% |
| Equity | 10/15 | €16,697 | €30,450 | +€13,754 | +82.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,697 | €24,450 | +€13,754 | +128.6% |
| Amounts payable | 17/49 | €30,761 | €65,666 | +€34,904 | +113.5% |
| Amounts payable after more than one year | 17 | €4,103 | - | -€4,103 | |
| Financial debts | 170/4 | €4,103 | - | -€4,103 | |
| Amounts payable within one year | 42/48 | €26,594 | €65,601 | +€39,007 | +146.7% |
| Current portion of amounts payable after more than one year | 42 | €3,459 | €4,103 | +€644 | +18.6% |
| Trade debts | 44 | €21,544 | €42,432 | +€20,888 | +97.0% |
| Suppliers | 440/4 | €21,544 | €42,432 | +€20,888 | +97.0% |
| Taxes, remuneration and social security | 45 | €1,590 | €8,066 | +€6,476 | +407.1% |
| Taxes | 450/3 | €1,590 | €8,066 | +€6,476 | +407.1% |
| Other amounts payable | 47/48 | - | €11,000 | +€11,000 | |
| Accrued charges and deferred income | 492/3 | €65 | €65 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,244 | €7,301 | +€2,057 | +39.2% |
| Other operating charges | 640/8 | €1,922 | €787 | -€1,135 | -59.0% |
| Gross operating margin | 9900 | €13,498 | €39,798 | +€26,300 | +194.8% |
| Operating profit (loss) | 9901 | €6,332 | €31,709 | +€25,377 | +400.8% |
| Financial income | 75/76B | €78 | €161 | +€82 | +105.1% |
| Recurring financial income | 75 | €78 | €161 | +€82 | +105.1% |
| Financial charges | 65/66B | €352 | €290 | -€61 | -17.4% |
| Recurring financial charges | 65 | €352 | €290 | -€61 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €6,059 | €31,580 | +€25,521 | +421.2% |
| Income taxes | 67/77 | €1,240 | €6,826 | +€5,586 | +450.5% |
| Profit (loss) for the period | 9904 | €4,819 | €24,754 | +€19,935 | +413.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,819 | €24,754 | +€19,935 | +413.7% |
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 11 October 2026 via checked.be.