THE RENOVATOR: 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.
THE RENOVATOR
Largest movements
- Cash -€65,994
down €65,994 (-30.3%), from €217,595 to €151,602
mainly Contributions, distributions and other (-€115,000) and Investment in fixed assets (net) (-€34,285)
- Tangible fixed assets +€11,130
up €11,130 (+27.1%), from €41,006 to €52,136
of which Furniture and vehicles: +€12,338
- Receivables within one year +€3,829
up €3,829 (+54.2%), from €7,062 to €10,892
of which Trade receivables: +€10,532
- Reserves -€69,000
down €69,000 (-27.7%), from €248,760 to €179,760
of which Distributable reserves: -€69,000
- Tax, wage and social debts +€10,080
up €10,080 (+286%), from €3,529 to €13,608
of which Taxes: +€9,858
- Trade debts +€9,060
up €9,060 (+12,012%), from €75 to €9,135
- Current portion of long-term debt -€4,444
no longer reported in 2025 (was €4,444)
- Other debts +€2,869
up €2,869 (+97.1%), from €2,956 to €5,825
- Gross operating margin +€51,073
up €51,073 (+129%), from €39,703 to €90,775
- Taxes +€13,965
up €13,965 (+267%), from €5,223 to €19,188
- Financial income +€930
up €930 (+112%), from €832 to €1,762
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 | €269,420 | €218,053 | -€51,367 | -19.1% |
| Fixed assets | 21/28 | €41,006 | €52,136 | +€11,130 | +27.1% |
| Tangible fixed assets | 22/27 | €41,006 | €52,136 | +€11,130 | +27.1% |
| Plant, machinery and equipment | 23 | €4,076 | €2,868 | -€1,208 | -29.6% |
| Furniture and vehicles | 24 | €36,931 | €49,269 | +€12,338 | +33.4% |
| Current assets | 29/58 | €228,414 | €165,917 | -€62,498 | -27.4% |
| Amounts receivable within one year | 40/41 | €7,062 | €10,892 | +€3,829 | +54.2% |
| Trade receivables | 40 | €360 | €10,892 | +€10,532 | +2,925% |
| Other amounts receivable | 41 | €6,702 | - | -€6,702 | |
| Current investments | 50/53 | €3,757 | €3,424 | -€333 | -8.9% |
| Cash at bank and in hand | 54/58 | €217,595 | €151,602 | -€65,994 | -30.3% |
| Total equity and liabilities | 10/49 | €269,420 | €218,053 | -€51,367 | -19.1% |
| Equity | 10/15 | €258,416 | €189,484 | -€68,932 | -26.7% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €248,760 | €179,760 | -€69,000 | -27.7% |
| 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 | €246,900 | €177,900 | -€69,000 | -27.9% |
| Profit (loss) carried forward | 14 | €1,656 | €1,724 | +€68 | +4.1% |
| Amounts payable | 17/49 | €11,004 | €28,569 | +€17,565 | +160% |
| Amounts payable within one year | 42/48 | €11,004 | €28,569 | +€17,565 | +160% |
| Current portion of amounts payable after more than one year | 42 | €4,444 | - | -€4,444 | |
| Trade debts | 44 | €75 | €9,135 | +€9,060 | +12,012% |
| Suppliers | 440/4 | €75 | €9,135 | +€9,060 | +12,012% |
| Taxes, remuneration and social security | 45 | €3,529 | €13,608 | +€10,080 | +286% |
| Taxes | 450/3 | - | €9,858 | +€9,858 | |
| Remuneration and social security | 454/9 | €3,529 | €3,750 | +€221 | +6.3% |
| Other amounts payable | 47/48 | €2,956 | €5,825 | +€2,869 | +97.1% |
| Non-recurring operating income | 76A | - | €11,500 | +€11,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,646 | €23,155 | +€509 | +2.2% |
| Other operating charges | 640/8 | €2,654 | €2,359 | -€294 | -11.1% |
| Gross operating margin | 9900 | €39,703 | €90,775 | +€51,073 | +129% |
| Operating profit (loss) | 9901 | €14,403 | €65,261 | +€50,858 | +353% |
| Financial income | 75/76B | €832 | €1,762 | +€930 | +112% |
| Recurring financial income | 75 | €832 | €1,762 | +€930 | +112% |
| Financial charges | 65/66B | €1,064 | €1,767 | +€703 | +66.1% |
| Recurring financial charges | 65 | €1,064 | €1,767 | +€703 | +66.1% |
| Profit (loss) for the period before taxes | 9903 | €14,171 | €65,256 | +€51,085 | +360% |
| Income taxes | 67/77 | €5,223 | €19,188 | +€13,965 | +267% |
| Profit (loss) for the period | 9904 | €8,948 | €46,068 | +€37,120 | +415% |
| Profit (loss) for the period to be appropriated | 9905 | €8,948 | €46,068 | +€37,120 | +415% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.