37 Energy: 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.
37 Energy
Largest movements
- Cash +€25,773
up €25,773 (+13.0%), from €198,958 to €224,731
mainly Net result for the year (+€75,769) and Depreciation (+€1,039)
- Receivables within one year +€2,996
up €2,996 (+830%), from €361 to €3,357
- Tangible fixed assets +€2,985
up €2,985 (+255%), from €1,170 to €4,155
of which Plant, machinery and equipment: +€1,654
- Profit (loss) carried forward +€75,769
up €75,769 (+57.5%), from €131,833 to €207,602
- Tax, wage and social debts -€43,628
no longer reported in 2025 (was €43,628)
- Taxes -€7,658
down €7,658 (-26.5%), from €28,869 to €21,211
- Gross operating margin -€6,151
down €6,151 (-5.9%), from €104,273 to €98,121
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 | €200,611 | €232,243 | +€31,632 | +15.8% |
| Fixed assets | 21/28 | €1,170 | €4,155 | +€2,985 | +255% |
| Tangible fixed assets | 22/27 | €1,170 | €4,155 | +€2,985 | +255% |
| Plant, machinery and equipment | 23 | €1,170 | €2,824 | +€1,654 | +141% |
| Furniture and vehicles | 24 | - | €1,331 | +€1,331 | |
| Current assets | 29/58 | €199,441 | €228,088 | +€28,647 | +14.4% |
| Amounts receivable within one year | 40/41 | €361 | €3,357 | +€2,996 | +830% |
| Other amounts receivable | 41 | €361 | €3,357 | +€2,996 | +830% |
| Cash at bank and in hand | 54/58 | €198,958 | €224,731 | +€25,773 | +13.0% |
| Deferred charges and accrued income | 490/1 | €123 | - | -€123 | |
| Total equity and liabilities | 10/49 | €200,611 | €232,243 | +€31,632 | +15.8% |
| Equity | 10/15 | €154,801 | €230,570 | +€75,769 | +48.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €19,968 | €19,968 | = | 0.0% |
| Distributable reserves | 133 | €19,968 | €19,968 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,833 | €207,602 | +€75,769 | +57.5% |
| Amounts payable | 17/49 | €45,811 | €1,673 | -€44,137 | -96.3% |
| Amounts payable within one year | 42/48 | €45,811 | €1,673 | -€44,137 | -96.3% |
| Trade debts | 44 | €1,650 | €813 | -€836 | -50.7% |
| Suppliers | 440/4 | €1,650 | €813 | -€836 | -50.7% |
| Taxes, remuneration and social security | 45 | €43,628 | - | -€43,628 | |
| Taxes | 450/3 | €43,628 | - | -€43,628 | |
| Other amounts payable | 47/48 | €533 | €860 | +€327 | +61.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €615 | €1,039 | +€424 | +69.0% |
| Gross operating margin | 9900 | €104,273 | €98,121 | -€6,151 | -5.9% |
| Operating profit (loss) | 9901 | €103,658 | €97,082 | -€6,576 | -6.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €98 | €102 | +€3 | +3.5% |
| Recurring financial charges | 65 | €98 | €102 | +€3 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €103,559 | €96,980 | -€6,579 | -6.4% |
| Income taxes | 67/77 | €28,869 | €21,211 | -€7,658 | -26.5% |
| Profit (loss) for the period | 9904 | €74,690 | €75,769 | +€1,079 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €74,690 | €75,769 | +€1,079 | +1.4% |
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 26 October 2026 via checked.be.