RINOVO: 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.
RINOVO
Largest movements
- Stocks and contracts +€396,522
up €396,522 (+454%), from €87,387 to €483,909
- Cash -€149,409
down €149,409 (-99.3%), from €150,479 to €1,070
mainly Stocks and contracts (-€396,522) and Net result for the year (-€39,090)
- Short-term financial debts +€161,330
up €161,330 (+4,820%), from €3,347 to €164,677
- Debts after one year +€119,558
up €119,558 (+44.0%), from €271,450 to €391,008
- Profit (loss) carried forward -€39,090
down €39,090 (-24.9%), from -€156,713 to -€195,803
- Tax, wage and social debts +€8,027
new in 2025: €8,027
of which Remuneration and social security: +€8,000
- Other operating charges +€45,568
up €45,568 (+3,050%), from €1,494 to €47,062
- Financial charges +€8,643
up €8,643 (+203%), from €4,268 to €12,911
- Gross operating margin -€2,831
down €2,831 (-12.0%), from €23,546 to €20,715
- Depreciation -€1,250
no longer reported in 2025 (was €1,250)
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 | €248,353 | €493,746 | +€245,393 | +98.8% |
| Fixed assets | 21/28 | €2,827 | €1,107 | -€1,720 | -60.8% |
| Tangible fixed assets | 22/27 | €1,777 | - | -€1,777 | |
| Furniture and vehicles | 24 | €1,777 | - | -€1,777 | |
| Financial fixed assets | 28 | €1,050 | €1,107 | +€57 | +5.4% |
| Current assets | 29/58 | €245,526 | €492,639 | +€247,113 | +101% |
| Stocks and contracts in progress | 3 | €87,387 | €483,909 | +€396,522 | +454% |
| Stocks | 30/36 | €87,387 | €483,909 | +€396,522 | +454% |
| Amounts receivable within one year | 40/41 | €7,660 | €7,660 | = | 0.0% |
| Other amounts receivable | 41 | €7,660 | €7,660 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €150,479 | €1,070 | -€149,409 | -99.3% |
| Total equity and liabilities | 10/49 | €248,353 | €493,746 | +€245,393 | +98.8% |
| Equity | 10/15 | -€134,713 | -€173,803 | -€39,090 | -29.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Distributable reserves | 133 | - | €2,000 | +€2,000 | |
| Profit (loss) carried forward | 14 | -€156,713 | -€195,803 | -€39,090 | -24.9% |
| Amounts payable | 17/49 | €383,066 | €667,549 | +€284,483 | +74.3% |
| Amounts payable after more than one year | 17 | €271,450 | €391,008 | +€119,558 | +44.0% |
| Financial debts | 170/4 | €271,450 | €391,008 | +€119,558 | +44.0% |
| Amounts payable within one year | 42/48 | €111,616 | €276,541 | +€164,925 | +148% |
| Current portion of amounts payable after more than one year | 42 | €18,120 | €16,179 | -€1,941 | -10.7% |
| Financial debts | 43 | €3,347 | €164,677 | +€161,330 | +4,820% |
| Credit institutions | 430/8 | €3,347 | €164,677 | +€161,330 | +4,820% |
| Trade debts | 44 | €1,154 | - | -€1,154 | |
| Suppliers | 440/4 | €1,154 | - | -€1,154 | |
| Taxes, remuneration and social security | 45 | - | €8,027 | +€8,027 | |
| Taxes | 450/3 | - | €27 | +€27 | |
| Remuneration and social security | 454/9 | - | €8,000 | +€8,000 | |
| Other amounts payable | 47/48 | €88,995 | €87,658 | -€1,337 | -1.5% |
| Non-recurring operating income | 76A | €32,112 | €223 | -€31,889 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,250 | - | -€1,250 | |
| Other operating charges | 640/8 | €1,494 | €47,062 | +€45,568 | +3,050% |
| Gross operating margin | 9900 | €23,546 | €20,715 | -€2,831 | -12.0% |
| Operating profit (loss) | 9901 | €20,802 | -€26,347 | -€47,149 | |
| Financial income | 75/76B | €448 | €250 | -€198 | -44.2% |
| Recurring financial income | 75 | €448 | €250 | -€198 | -44.2% |
| Financial charges | 65/66B | €4,268 | €12,911 | +€8,643 | +203% |
| Recurring financial charges | 65 | €4,268 | €12,911 | +€8,643 | +203% |
| Profit (loss) for the period before taxes | 9903 | €16,982 | -€39,008 | -€55,990 | |
| Income taxes | 67/77 | €65 | €82 | +€17 | +26.2% |
| Profit (loss) for the period | 9904 | €16,917 | -€39,090 | -€56,007 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,917 | -€39,090 | -€56,007 |
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 15 October 2026 via checked.be.