VR RENOV: what changed
Two fiscal 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.
VR RENOV
Largest movements
- Cash +€54,085
up €54,085 (+342.0%), from €15,814 to €69,899
mainly Net result for the year (+€65,669) and Trade debts (+€32,324)
- Receivables within one year +€51,732
up €51,732 (+958.8%), from €5,395 to €57,127
of which Trade receivables: +€50,629
- Tangible fixed assets +€29,320
up €29,320 (+7990.9%), from €367 to €29,687
of which Leasing and similar rights: +€25,919
- Profit (loss) carried forward +€65,669
up €65,669 (+567.8%), from €11,565 to €77,235
- Trade debts +€32,324
up €32,324 (+913.3%), from €3,539 to €35,864
- Debts after one year +€16,951
new in 2025: €16,951
- Tax, wage and social debts +€16,080
up €16,080 (+554.5%), from €2,900 to €18,980
of which Taxes: +€14,580
- Current portion of long-term debt +€4,306
new in 2025: €4,306
- Gross operating margin +€75,094
up €75,094 (+517.4%), from €14,513 to €89,607
- Taxes +€13,823
up €13,823 (+476.7%), from €2,900 to €16,723
- Depreciation +€5,390
up €5,390 (+11436.7%), from €47 to €5,437
- Financial charges +€1,265
new in 2025: €1,265
- Staff costs +€1,120
new in 2025: €1,120
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 | €21,653 | €156,713 | +€135,061 | +623.8% |
| Fixed assets | 21/28 | €367 | €29,687 | +€29,320 | +7990.9% |
| Tangible fixed assets | 22/27 | €367 | €29,687 | +€29,320 | +7990.9% |
| Furniture and vehicles | 24 | €367 | €3,768 | +€3,401 | +927.0% |
| Leasing and similar rights | 25 | - | €25,919 | +€25,919 | |
| Current assets | 29/58 | €21,286 | €127,026 | +€105,741 | +496.8% |
| Amounts receivable within one year | 40/41 | €5,395 | €57,127 | +€51,732 | +958.8% |
| Trade receivables | 40 | - | €50,629 | +€50,629 | |
| Other amounts receivable | 41 | €5,395 | €6,498 | +€1,102 | +20.4% |
| Cash at bank and in hand | 54/58 | €15,814 | €69,899 | +€54,085 | +342.0% |
| Deferred charges and accrued income | 490/1 | €77 | - | -€77 | |
| Total equity and liabilities | 10/49 | €21,653 | €156,713 | +€135,061 | +623.8% |
| Equity | 10/15 | €14,565 | €80,235 | +€65,669 | +450.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,565 | €77,235 | +€65,669 | +567.8% |
| Amounts payable | 17/49 | €7,087 | €76,479 | +€69,392 | +979.1% |
| Amounts payable after more than one year | 17 | - | €16,951 | +€16,951 | |
| Financial debts | 170/4 | - | €16,951 | +€16,951 | |
| Amounts payable within one year | 42/48 | €7,087 | €59,528 | +€52,441 | +740.0% |
| Current portion of amounts payable after more than one year | 42 | - | €4,306 | +€4,306 | |
| Trade debts | 44 | €3,539 | €35,864 | +€32,324 | +913.3% |
| Suppliers | 440/4 | €3,539 | €35,864 | +€32,324 | +913.3% |
| Taxes, remuneration and social security | 45 | €2,900 | €18,980 | +€16,080 | +554.5% |
| Taxes | 450/3 | €2,900 | €17,480 | +€14,580 | +502.8% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €648 | €379 | -€269 | -41.5% |
| Remuneration, social security and pensions | 62 | - | €1,120 | +€1,120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47 | €5,437 | +€5,390 | +11436.7% |
| Other operating charges | 640/8 | - | €186 | +€186 | |
| Gross operating margin | 9900 | €14,513 | €89,607 | +€75,094 | +517.4% |
| Operating profit (loss) | 9901 | €14,465 | €82,864 | +€68,398 | +472.8% |
| Financial income | 75/76B | €0 | €793 | +€793 | +7932700.0% |
| Recurring financial income | 75 | €0 | €793 | +€793 | +7932700.0% |
| Financial charges | 65/66B | - | €1,265 | +€1,265 | |
| Recurring financial charges | 65 | - | €1,265 | +€1,265 | |
| Profit (loss) for the period before taxes | 9903 | €14,465 | €82,392 | +€67,927 | +469.6% |
| Income taxes | 67/77 | €2,900 | €16,723 | +€13,823 | +476.7% |
| Profit (loss) for the period | 9904 | €11,565 | €65,669 | +€54,104 | +467.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,565 | €65,669 | +€54,104 | +467.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.