Rinovation: what changed
Two fiscal 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.
Rinovation
Largest movements
- Stocks and contracts -€779,841
down €779,841 (-57.6%), from €1.4m to €573,924
of which Contracts in progress: -€1.4m
- Receivables within one year +€100,500
up €100,500 (+1007.9%), from €9,972 to €110,472
- Cash +€89,852
up €89,852 (+31.0%), from €289,874 to €379,726
mainly Stocks and contracts (+€779,841) and Short-term financial debts (+€343,575)
- Current portion of long-term debt -€911,192
down €911,192 (-100.0%), from €911,192 to €0
- Short-term financial debts +€343,575
new in 2025: €343,575
- Debts after one year -€98,243
down €98,243 (-98.9%), from €99,323 to €1,080
of which Financial debts: -€98,243
- Profit (loss) carried forward +€96,988
up €96,988 (+16.5%), from €587,925 to €684,913
- Trade debts -€20,618
down €20,618 (-44.7%), from €46,171 to €25,553
- Gross operating margin -€417,178
down €417,178 (-72.7%), from €573,656 to €156,478
- Taxes -€88,028
down €88,028 (-74.6%), from €118,028 to €30,000
- Financial charges -€68,257
down €68,257 (-73.6%), from €92,725 to €24,468
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 | €1,653,610 | €1,064,121 | -€589,489 | -35.6% |
| Current assets | 29/58 | €1,653,610 | €1,064,121 | -€589,489 | -35.6% |
| Stocks and contracts in progress | 3 | €1,353,765 | €573,924 | -€779,841 | -57.6% |
| Stocks | 30/36 | - | €573,924 | +€573,924 | |
| Contracts in progress | 37 | €1,353,765 | €0 | -€1.4m | -100.0% |
| Amounts receivable within one year | 40/41 | €9,972 | €110,472 | +€100,500 | +1007.9% |
| Other amounts receivable | 41 | €9,972 | €110,472 | +€100,500 | +1007.9% |
| Cash at bank and in hand | 54/58 | €289,874 | €379,726 | +€89,852 | +31.0% |
| Total equity and liabilities | 10/49 | €1,653,610 | €1,064,121 | -€589,489 | -35.6% |
| Equity | 10/15 | €596,925 | €693,913 | +€96,988 | +16.2% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €587,925 | €684,913 | +€96,988 | +16.5% |
| Amounts payable | 17/49 | €1,056,686 | €370,208 | -€686,477 | -65.0% |
| Amounts payable after more than one year | 17 | €99,323 | €1,080 | -€98,243 | -98.9% |
| Financial debts | 170/4 | €98,243 | €0 | -€98,243 | -100.0% |
| Other amounts payable | 178/9 | €1,080 | €1,080 | = | 0.0% |
| Amounts payable within one year | 42/48 | €957,363 | €369,128 | -€588,235 | -61.4% |
| Current portion of amounts payable after more than one year | 42 | €911,192 | €0 | -€911,192 | -100.0% |
| Financial debts | 43 | - | €343,575 | +€343,575 | |
| Credit institutions | 430/8 | - | €343,575 | +€343,575 | |
| Trade debts | 44 | €46,171 | €25,553 | -€20,618 | -44.7% |
| Suppliers | 440/4 | €46,171 | €25,553 | -€20,618 | -44.7% |
| Non-recurring operating income | 76A | - | €9,063 | +€9,063 | |
| Other operating charges | 640/8 | €8,266 | €5,022 | -€3,243 | -39.2% |
| Gross operating margin | 9900 | €573,656 | €156,478 | -€417,178 | -72.7% |
| Operating profit (loss) | 9901 | €565,390 | €151,456 | -€413,934 | -73.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €92,725 | €24,468 | -€68,257 | -73.6% |
| Recurring financial charges | 65 | €92,725 | €24,468 | -€68,257 | -73.6% |
| Profit (loss) for the period before taxes | 9903 | €472,666 | €126,988 | -€345,678 | -73.1% |
| Income taxes | 67/77 | €118,028 | €30,000 | -€88,028 | -74.6% |
| Profit (loss) for the period | 9904 | €354,637 | €96,988 | -€257,649 | -72.7% |
| Profit (loss) for the period to be appropriated | 9905 | €354,637 | €96,988 | -€257,649 | -72.7% |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.