V RENOV: 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.
V RENOV
Largest movements
- Receivables within one year +€26,940
up €26,940 (+10.6%), from €253,398 to €280,338
of which Trade receivables: +€55,099
- Cash +€5,787
up €5,787 (+135%), from €4,288 to €10,076
mainly Net result for the year (+€73,369) and Trade debts (+€28,369)
- Profit (loss) carried forward +€73,369
up €73,369 (+149%), from €49,122 to €122,491
- Other debts -€49,455
down €49,455 (-98.5%), from €50,204 to €749
- Trade debts +€28,369
up €28,369 (+25.6%), from €110,876 to €139,245
- Tax, wage and social debts -€18,884
down €18,884 (-42.8%), from €44,130 to €25,246
- Gross operating margin +€124,163
up €124,163, from -€23,725 to €100,439
- Taxes +€14,447
up €14,447 (+19,696%), from €73 to €14,521
- Depreciation -€4,748
down €4,748 (-43.5%), from €10,912 to €6,164
- Staff costs +€1,464
up €1,464 (+50.1%), from €2,924 to €4,388
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 | €268,353 | €301,752 | +€33,399 | +12.4% |
| Fixed assets | 21/28 | €10,581 | €11,173 | +€592 | +5.6% |
| Tangible fixed assets | 22/27 | €10,581 | €9,873 | -€708 | -6.7% |
| Plant, machinery and equipment | 23 | €1,357 | €4,315 | +€2,957 | +218% |
| Furniture and vehicles | 24 | €9,224 | €5,558 | -€3,666 | -39.7% |
| Financial fixed assets | 28 | - | €1,300 | +€1,300 | |
| Current assets | 29/58 | €257,771 | €290,579 | +€32,807 | +12.7% |
| Amounts receivable within one year | 40/41 | €253,398 | €280,338 | +€26,940 | +10.6% |
| Trade receivables | 40 | €219,968 | €275,067 | +€55,099 | +25.0% |
| Other amounts receivable | 41 | €33,430 | €5,272 | -€28,158 | -84.2% |
| Cash at bank and in hand | 54/58 | €4,288 | €10,076 | +€5,787 | +135% |
| Deferred charges and accrued income | 490/1 | €85 | €165 | +€80 | +93.9% |
| Total equity and liabilities | 10/49 | €268,353 | €301,752 | +€33,399 | +12.4% |
| Equity | 10/15 | €63,142 | €136,511 | +€73,369 | +116% |
| Contributions | 10/11 | €14,020 | €14,020 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,122 | €122,491 | +€73,369 | +149% |
| Amounts payable | 17/49 | €205,211 | €165,241 | -€39,970 | -19.5% |
| Amounts payable within one year | 42/48 | €205,211 | €165,241 | -€39,970 | -19.5% |
| Trade debts | 44 | €110,876 | €139,245 | +€28,369 | +25.6% |
| Suppliers | 440/4 | €110,876 | €139,245 | +€28,369 | +25.6% |
| Taxes, remuneration and social security | 45 | €44,130 | €25,246 | -€18,884 | -42.8% |
| Taxes | 450/3 | €44,130 | €25,246 | -€18,884 | -42.8% |
| Other amounts payable | 47/48 | €50,204 | €749 | -€49,455 | -98.5% |
| Remuneration, social security and pensions | 62 | €2,924 | €4,388 | +€1,464 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,912 | €6,164 | -€4,748 | -43.5% |
| Other operating charges | 640/8 | €1,393 | €822 | -€571 | -41.0% |
| Gross operating margin | 9900 | -€23,725 | €100,439 | +€124,163 | |
| Operating profit (loss) | 9901 | -€38,954 | €89,065 | +€128,019 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €359 | €1,176 | +€817 | +228% |
| Recurring financial charges | 65 | €359 | €1,176 | +€817 | +228% |
| Profit (loss) for the period before taxes | 9903 | -€39,312 | €87,890 | +€127,202 | |
| Income taxes | 67/77 | €73 | €14,521 | +€14,447 | +19,696% |
| Profit (loss) for the period | 9904 | -€39,386 | €73,369 | +€112,755 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,386 | €73,369 | +€112,755 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.