SI RENOVE: what changed
SI RENOVE
Largest movements
- Cash -€207,163
no longer reported in 2025 (was €207,163)
mainly Current investments (-€180,978) and Stocks and contracts (-€38,668)
- Current investments +€180,978
new in 2025: €180,978
- Stocks and contracts +€38,668
up €38,668 (+50.4%), from €76,678 to €115,346
of which Stocks: +€22,325
- Tangible fixed assets -€37,312
down €37,312 (-37.4%), from €99,674 to €62,362
of which Plant, machinery and equipment: -€30,153
- Receivables within one year -€37,119
down €37,119 (-16.6%), from €224,107 to €186,988
of which Other amounts receivable: -€32,191
- Trade debts -€24,574
down €24,574 (-19.0%), from €129,150 to €104,576
- Debts after one year -€24,144
down €24,144 (-32.3%), from €74,651 to €50,507
- Current portion of long-term debt -€11,646
down €11,646 (-32.5%), from €35,790 to €24,144
- Gross operating margin -€38,936
down €38,936 (-7.7%), from €505,741 to €466,805
- Other operating charges -€15,076
down €15,076 (-53.3%), from €28,268 to €13,192
- Depreciation -€10,127
down €10,127 (-20.8%), from €48,744 to €38,617
- Staff costs +€6,322
up €6,322 (+1.6%), from €405,633 to €411,955
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €610,798 | €548,930 | -€61,867 | -10.1% |
| Fixed assets | 21/28 | €99,674 | €62,362 | -€37,312 | -37.4% |
| Tangible fixed assets | 22/27 | €99,674 | €62,362 | -€37,312 | -37.4% |
| Plant, machinery and equipment | 23 | €75,347 | €45,194 | -€30,153 | -40.0% |
| Furniture and vehicles | 24 | €80 | €1,218 | +€1,138 | +1,416% |
| Other tangible fixed assets | 26 | €24,246 | €15,949 | -€8,297 | -34.2% |
| Current assets | 29/58 | €511,124 | €486,568 | -€24,556 | -4.8% |
| Stocks and contracts in progress | 3 | €76,678 | €115,346 | +€38,668 | +50.4% |
| Stocks | 30/36 | €21,570 | €43,895 | +€22,325 | +104% |
| Contracts in progress | 37 | €55,108 | €71,451 | +€16,342 | +29.7% |
| Amounts receivable within one year | 40/41 | €224,107 | €186,988 | -€37,119 | -16.6% |
| Trade receivables | 40 | €185,845 | €180,917 | -€4,928 | -2.7% |
| Other amounts receivable | 41 | €38,262 | €6,071 | -€32,191 | -84.1% |
| Current investments | 50/53 | - | €180,978 | +€180,978 | |
| Cash at bank and in hand | 54/58 | €207,163 | - | -€207,163 | |
| Deferred charges and accrued income | 490/1 | €3,175 | €3,256 | +€81 | +2.5% |
| Total equity and liabilities | 10/49 | €610,798 | €548,930 | -€61,867 | -10.1% |
| Equity | 10/15 | €344,418 | €342,326 | -€2,092 | -0.6% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €14,769 | €14,769 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €12,909 | €12,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | €329,648 | €327,556 | -€2,092 | -0.6% |
| Amounts payable | 17/49 | €266,380 | €206,605 | -€59,775 | -22.4% |
| Amounts payable after more than one year | 17 | €74,651 | €50,507 | -€24,144 | -32.3% |
| Financial debts | 170/4 | €74,651 | €50,507 | -€24,144 | -32.3% |
| Amounts payable within one year | 42/48 | €191,729 | €156,097 | -€35,631 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €35,790 | €24,144 | -€11,646 | -32.5% |
| Trade debts | 44 | €129,150 | €104,576 | -€24,574 | -19.0% |
| Suppliers | 440/4 | €129,150 | €104,576 | -€24,574 | -19.0% |
| Taxes, remuneration and social security | 45 | €13,448 | €13,784 | +€337 | +2.5% |
| Remuneration and social security | 454/9 | €13,448 | €13,784 | +€337 | +2.5% |
| Other amounts payable | 47/48 | €13,341 | €13,593 | +€253 | +1.9% |
| Remuneration, social security and pensions | 62 | €405,633 | €411,955 | +€6,322 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,744 | €38,617 | -€10,127 | -20.8% |
| Other operating charges | 640/8 | €28,268 | €13,192 | -€15,076 | -53.3% |
| Non-recurring operating charges | 66A | - | €204 | +€204 | |
| Gross operating margin | 9900 | €505,741 | €466,805 | -€38,936 | -7.7% |
| Operating profit (loss) | 9901 | €23,097 | €2,839 | -€20,258 | -87.7% |
| Financial income | 75/76B | €987 | €335 | -€652 | -66.1% |
| Recurring financial income | 75 | €987 | €335 | -€652 | -66.1% |
| Financial charges | 65/66B | €3,836 | €2,807 | -€1,029 | -26.8% |
| Recurring financial charges | 65 | €3,836 | €2,807 | -€1,029 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €20,248 | €366 | -€19,882 | -98.2% |
| Income taxes | 67/77 | €7,340 | €2,458 | -€4,881 | -66.5% |
| Profit (loss) for the period | 9904 | €12,909 | -€2,092 | -€15,001 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,909 | -€2,092 | -€15,001 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.