VK 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.
VK RENOV
Largest movements
- Cash +€23,929
up €23,929 (+481.0%), from €4,975 to €28,904
mainly Depreciation (+€17,923) and Trade debts (+€11,189)
- Tangible fixed assets +€9,819
up €9,819 (+24.2%), from €40,653 to €50,472
of which Leasing and similar rights: +€14,627
- Receivables within one year +€4,709
up €4,709 (+14.8%), from €31,783 to €36,492
of which Trade receivables: +€4,675
- Trade debts +€11,189
up €11,189 (+93.5%), from €11,973 to €23,161
- Reserves +€10,400
up €10,400 (+102.7%), from €10,122 to €20,522
- Other debts +€7,942
up €7,942 (+169.3%), from €4,690 to €12,631
- Current portion of long-term debt +€3,925
up €3,925 (+67.4%), from €5,821 to €9,745
- Tax, wage and social debts +€2,568
up €2,568 (+18.5%), from €13,853 to €16,422
of which Remuneration and social security: +€1,846
- Gross operating margin +€47,797
up €47,797 (+94.6%), from €50,538 to €98,335
- Staff costs +€30,018
up €30,018 (+93.4%), from €32,147 to €62,164
- Depreciation +€14,059
up €14,059 (+363.9%), from €3,863 to €17,923
- Financial charges +€2,103
up €2,103 (+575.6%), from €365 to €2,468
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 | €77,411 | €115,868 | +€38,457 | +49.7% |
| Fixed assets | 21/28 | €40,653 | €50,472 | +€9,819 | +24.2% |
| Tangible fixed assets | 22/27 | €40,653 | €50,472 | +€9,819 | +24.2% |
| Plant, machinery and equipment | 23 | €4,270 | €7,673 | +€3,403 | +79.7% |
| Furniture and vehicles | 24 | €36,383 | €28,172 | -€8,211 | -22.6% |
| Leasing and similar rights | 25 | - | €14,627 | +€14,627 | |
| Current assets | 29/58 | €36,758 | €65,396 | +€28,638 | +77.9% |
| Amounts receivable within one year | 40/41 | €31,783 | €36,492 | +€4,709 | +14.8% |
| Trade receivables | 40 | €31,783 | €36,458 | +€4,675 | +14.7% |
| Other amounts receivable | 41 | - | €34 | +€34 | |
| Cash at bank and in hand | 54/58 | €4,975 | €28,904 | +€23,929 | +481.0% |
| Total equity and liabilities | 10/49 | €77,411 | €115,868 | +€38,457 | +49.7% |
| Equity | 10/15 | €22,368 | €32,768 | +€10,400 | +46.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €10,122 | €20,522 | +€10,400 | +102.7% |
| Distributable reserves | 133 | €10,122 | €20,522 | +€10,400 | +102.7% |
| Profit (loss) carried forward | 14 | €10,246 | €10,246 | = | 0.0% |
| Amounts payable | 17/49 | €55,043 | €83,100 | +€28,057 | +51.0% |
| Amounts payable after more than one year | 17 | €18,707 | €21,141 | +€2,434 | +13.0% |
| Financial debts | 170/4 | €18,707 | €21,141 | +€2,434 | +13.0% |
| Amounts payable within one year | 42/48 | €36,336 | €61,959 | +€25,623 | +70.5% |
| Current portion of amounts payable after more than one year | 42 | €5,821 | €9,745 | +€3,925 | +67.4% |
| Trade debts | 44 | €11,973 | €23,161 | +€11,189 | +93.5% |
| Suppliers | 440/4 | €11,973 | €23,161 | +€11,189 | +93.5% |
| Taxes, remuneration and social security | 45 | €13,853 | €16,422 | +€2,568 | +18.5% |
| Taxes | 450/3 | €7,964 | €8,687 | +€722 | +9.1% |
| Remuneration and social security | 454/9 | €5,889 | €7,735 | +€1,846 | +31.3% |
| Other amounts payable | 47/48 | €4,690 | €12,631 | +€7,942 | +169.3% |
| Remuneration, social security and pensions | 62 | €32,147 | €62,164 | +€30,018 | +93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,863 | €17,923 | +€14,059 | +363.9% |
| Other operating charges | 640/8 | €218 | €768 | +€550 | +252.4% |
| Gross operating margin | 9900 | €50,538 | €98,335 | +€47,797 | +94.6% |
| Operating profit (loss) | 9901 | €14,310 | €17,480 | +€3,170 | +22.1% |
| Financial charges | 65/66B | €365 | €2,468 | +€2,103 | +575.6% |
| Recurring financial charges | 65 | €365 | €2,468 | +€2,103 | +575.6% |
| Profit (loss) for the period before taxes | 9903 | €13,945 | €15,012 | +€1,067 | +7.7% |
| Income taxes | 67/77 | €3,823 | €4,612 | +€789 | +20.6% |
| Profit (loss) for the period | 9904 | €10,122 | €10,400 | +€278 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,122 | €10,400 | +€278 | +2.7% |
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 11 October 2026 via checked.be.